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Best Hardware Wallets of 2023

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Nowadays, there are many hardware wallets on the market. This can make it difficult to choose. This article shows you the advantages and disadvantages of every hardware wallet. We help you make sense of it all.

What is a hardware wallet?

A hardware wallet is a device which you use to store the private keys of your public (receipt) addresses, securely and offline. This is important because only the people who have the private key can access the cryptos in the respective addresses.

This offers the advantage that you yourself manage your coins and that you don't have to store them with a central party, like an exchange. You are your own bank. Plenty of exchanges have been hacked in the past. A hot wallet (on a phone or PC which is always running) is also riskier than a hardware wallet (cold wallet). A hardware wallet largely operates offline and has a security chip.

What should I be mindful of?

  • How do you wish to manage your coins (computer or phone)?
  • Would you only like to store bitcoin, or also other coins/tokens?
  • Would you like to stake coins?

Important: safely store your backup

When you install your hardware wallet, you'll see a seed phrase, just once. This is usually a list with 12 to 24 words, which you should store correctly and in the right order. This will always give you access to your wallet. It is super important that you properly store it, because there is no one who can give you access to your wallets except you. In order to properly store the seed phrase, you can buy a Seed Backup. You should also write down the name of the brand and type of hardware wallet with your seed phrase. There may be differences in the way different hardware wallets generate the public keys (receipt addresses) from your private keys.

Best hardware wallets

We mention the advantages and disadvantages for every wallet. We also tell you the things which are "good to know", about every wallet. Here, we describe the points which can be an advantage or disadvantage, depending on personal preference.

1. Ledger Nano x

best wallet ledger

The Nano X is the latest hardware wallet from the well-known brand of Ledger. Compared to its predecessor, the Nano S, the Nano X has far more memory, which enables you to install up to 100 applications simultaneously. The Bluetooth support allows you to easily connect your hardware wallet to your cell phone. With the Nano X, you can store more than 1000 different coins. You can also use the Nano X on the road, thanks to its battery.

Ledger Live is their own app, which allows you to manage many coins from your computer (Windows, macOS and Linux) and by phone (iOS and Android). This application is very user friendly. Configuring your hardware wallet and storing your seed phrase is very intuitive. The wallet has been EAL5+ certified. This is an indication of the degree to which its security has been tested.

Advantages Good to know Disadvantages

Supports many coins

Bluetooth + cable support

Occasional battery problems (we have a good warranty service)

Staking through an app

Desktop + mobile

CC EAL 5+ licensed security

Battery

2. Trezor One

best trezor

With the Trezor One, you can manage many coins simultaneously, but far less than the Trezor T. Beyond that, the wallet is comparable to the Nano S, except the Trezor One has a display and allows you to install more apps on it.

Advantages Good to know Disadvantages

Open source

No Bluetooth

No mobile iOS support

Good price/quality ratio

Desktop + mobile (Android only)

Staking limited or indirect

3. CoolWallet Pro

CoolWallet Pro app

The CoolWallet Pro is for mobile use. The hardware wallet is thin (0.8 mm thick) and has the size of a bank card. The Pro uses BlueTooth to connect to your phone. There are updates on the way which allow it to support NFTs. When you use WalletConnect, the CoolWallet also becomes completely DeFi and DApp ready. You can also store an increasing number of coins using this wallet. Thanks to its battery, the Coolwallet can also be used on the road.

Advantages Good to know Disadvantages

Staking through an app

Bluetooth support

Does not (yet) support all large coins

Connection to decentralised exchanges

No cable support

CC EAL 5+ licensed security

Only mobile (iOS and Android, not desktop)

Battery

4. BitBox02 Bitcoin only en Multi edition

Bitbox best bitcoin wallet

Why would you choose a wallet that can only store Bitcoin? It's safer in theory. When a wallet only supports bitcoin, this means less code, which gives a hacker less opportunity to get inside. Less code also means less chance of bugs. In addition to Bitcoin, the Multi edition also allows you to store Litecoin, Ethereum and many ERC-20 tokens.

Advantages Good to know Disadvantages

SD card backup

Few different crypto wallet

No staking

Low code - small attack surface

Has touch buttons

No mobile iOS support

Desktop + mobile (Android only)

5. Trezor T

best trezor

The Trezor T is the latest hardware wallet by SatoshiLabs. With the Trezor T, you can store more than 1000 different coins. The software is open source, which means that anyone can view it. This makes it extra easy, because the technicians in the community can quickly track down any bugs. The Trezor T also supports Shamir Backup. This allows you to partition and cut your seed phrase into multiple portions and configure that you need 3 of the 5 parts for instance to access your wallet. This way, you avoid the risk of losing a seed phrase backup.

Advantages Good to know Disadvantages

Supports many coins

Touchscreen

No mobile iOS support

Shamir Backup

No Bluetooth

Staking limited or indirect

Open source

Desktop + mobile (Android only)

6. Ledger Nano S

ledger wallet

Most coins supported by the Nano X can also be stored on the Nano S. The main disadvantage of the Nano S is its limited storage capacity; only 2 to 4 coin apps can be installed on it simultaneously. However, you can remove the apps to install other apps and manage all your coins that way.

Advantages Good to know Disadvantages

Supports many coins

No Bluetooth

Limited storage capacity - not many coins simultaneously

Staking through an app

Desktop + mobile (Android only)

Android only combined with OTG cable

CC EAL 5+ licensed security

Feels weak

7. CoolWallet S

best coolwallet

CoolWallet Pro's predecessor is the CoolWallet S. The S closely resembles the Pro, except it allows you to manage less coins than the Pro. Also, the S does not support DeFi.

Advantages Good to know Disadvantages

CC EAL 5+ licensed security

Bluetooth support

Less coins than CoolWallet Pro

Battery

No cable support

No staking and DeFi

Only mobile (iOS and Android, not desktop)

8. SafePal S1

cheapest hardware wallet

The SafePal S1 is a budget hardware wallet, but its functionalities are certainly not inadequate. The SafePal is even air gapped, thanks to the integrated camera. The number of coins the S1 can store is not bad, although it sadly doesn't allow you to stake coins.

Advantages Good to know Disadvantages

Air gapped

Excellent price/quality ratio

No staking

Camera included

Only mobile (not desktop)

CC EAL 5+ licensed security

9. Coldcard Mk3

best bitcoin wallet

The Coldcard is a wallet for the Bitcoin enthusiasts. It doesn't feature a camera but allows air-gapped use by plugging a micro-SD card into your computer after you've initiated an action. This way, the Coldcard will never be linked directly to your computer. This wallet has many extra security functions, but this only makes the wallet suitable for more advanced traders. The Coldcard does not have its own app and can be used via Electrum, Bitcoin Core and Wasabi, i.a.

Advantages Good to know Disadvantages

Can be used with cable as well as air gapped.

Bitcoin-only wallet

Only suitable for experienced traders

Very extensive security functionalities

Can be used with the apps of, amongst others, Electrum, Bitcoin Core, Specter and Wasabi.

No staking

SD card backup

Extensive manual (EN)

10. Passport

safe bitcoin wallet

The Passport is also a true wallet for the Bitcoin enthusiasts. It's a robust product which has a comfortable grip. Just like the Bitbox02 and Coldcard, you can make backups using an SD card. The combination of the built-in camera and keyboard make the wallet suitable for daily use.

Advantages Good to know Disadvantages

Air gapped

Bitcoin-only wallet

Expensive

Camera and keyboard included

Works on batteries

No staking and DeFi

Robust

Based on the Coldcard

SD card backup

Very solid design, inspired by the "indestructible" Nokia 3310 phones

How can we help you?
Ask your question to a crypto expert

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