Secure your digital assets with Ledger, one of the top crypto hardware wallets of 2024
Now that digital assets rival their traditional counterparts in value, safeguarding your cryptocurrency is paramount. Imagine the agony of waking up to the news that your investments have vanished into the ether in the wake of the FTX debacle and similar security breaches. Hardware wallets serve as a fortress for your virtual riches, keeping them out of the reach of online threats.
This Benzinga’s curated list of the best crypto hardware wallets for 2024 marries robust security with user-friendly design, ensuring your investments remain untouchable to anyone but you.
Quick Look: Best Crypto Hardware Wallets
- Best for Bluetooth Connectivity: Ledger Nano X
- Best for Touchscreen Interface: Trezor Model T
- Best for Mobile Users: Ellipal Titan
- Best for Budget-Friendly Security: Ledger Nano S Plus
- Best for Long-Term Storage: BC Vault
Top Crypto Hardware Wallets
Benzinga has put together a lineup of top-notch crypto hardware wallets, each designed to offer a unique combination of security, convenience and innovation to meet the diverse needs of today's crypto enthusiasts.
1. Best for Bluetooth Connectivity: Ledger Nano X
With Bluetooth connectivity, the Ledger Nano X empowers users to effortlessly manage their crypto holdings and non-fungible tokens (NFTs) on the move, integrating seamlessly with their smartphones. This mobility ensures accessibility and ease of use for crypto enthusiasts wherever they may be.
The device comes with an impressive capacity, accommodating up to 100 apps concurrently. Its broad support extends to major cryptocurrencies like Bitcoin, Ethereum and XRP, as well as over 5,500 different tokens.
The Ledger Live App is an indispensable companion to the Nano X. By combining the two, users can keep their coins and NFTs offline, safeguarding them from potential cyber threats and unauthorized access.
With the Ledger Recover feature, users never have to worry about losing access to their funds, as wallet restoration becomes a straightforward and hassle-free endeavor.
Pros
- Enables wireless connection to the Ledger Live mobile app via encrypted Bluetooth
- Supports more than 5,500 assets
- Sizeable memory that can store up to 100 applications simultaneously
Cons
- Relatively expensive
- Does not have a touchscreen
- Some users worry that Bluetooth could be a potential security risk
2. Best for Touchscreen Interface: Trezor Model T
The Trezor Model T comes with a user-friendly touchscreen interface, boasting a smooth 1.54” LCD display. This interface not only facilitates seamless management of cryptocurrencies but enables users to confirm transactions directly on the device itself.
The Trezor Model T robust security features include the innovative Shamir Backup feature, which provides an extra layer of protection for backups, boosting overall security measures.
Durability is another key attribute of the Trezor Model T. Crafted from a sturdy PC/ABS thermoplastic blend, it is built to withstand the rigors of daily use while ensuring longevity. Also, its X-ray-safe construction renders it suitable for air travel, adding to its versatility and appeal.
Certifications play a significant role in establishing the reliability and quality of hardware wallets and the Trezor Model T doesn't disappoint. With CE and RoHS certifications, users can rest assured that it meets stringent standards in terms of quality, reliability and environmental considerations.
Pros
- User-friendly touchscreen interface facilitates transaction management
- Stores over 9,000 cryptocurrencies
- Options for extra security layers like hidden wallets and Shamir Backup
Cons
- Expensive
- Multiple features and security measures might be overwhelming for new users
3. Best for Mobile Users: Ellipal Titan
The ELLIPAL Titan 2.0 operates entirely offline, devoid of any WiFi, Bluetooth, USB or network connections. Transactions are facilitated using QR codes, ensuring air-gapped security that effectively shields against both online and offline attacks. The inclusion of an EAL5+ security chip fortifies protection, while the wallet's fully metal-sealed design prevents physical tampering, further enhancing overall safety.
The wallet's user-friendly design ensures a smooth user experience from the get-go. It has a 4-inch Full Lamination IPS display that provides clear and intuitive navigation, making tasks such as setup and updates a breeze.
Pros
- Transactions are signed offline by scanning QR codes, which enhances security
- Fully metal-sealed body offers robust protection
- Supports over 10,000 coins and tokens
Cons
- Some functionalities require a mobile phone, which might not appeal to those seeking a standalone device
- Expensive
4. Best for Budget-Friendly Security: Ledger Nano S Plus
The Ledger Nano S Plus is a budget-friendly device that supports over 5,500 digital assets and simultaneously accommodates up to 100 apps, providing users ample flexibility in managing their diverse portfolios.
For NFT enthusiasts, the Nano S Plus offers seamless management of NFT transactions, allowing for safe sending and signing directly within Ledger Live.
Security is paramount, thanks to its certified secure chip (CC EAL6+), which effectively safeguards private keys offline, shielding them from potential hacking attempts and unauthorized access.
Although a tiny device, the Nano S Plus boasts a large screen that facilitates effortless navigation and transaction verification, which makes it easier and more convenient to use.
Pros
- Offers a cost-effective solution for secure crypto management
- Supports over 5,500 digital assets, providing extensive coverage for various cryptocurrencies and NFTs
- The larger screen and increased memory capacity make for a smoother user experience
Cons
- Not compatible with iOS devices, which may limit its use for iPhone and iPad users
5. Best for Long-Term Storage: BC Vault
The highly durable BC Vault uses FRAM for storage, which promises up to 200 years of data retention.
One unique aspect is that each BC Vault device comes pre-loaded with 1.0 BTC, challenging users to break the encryption to claim it, which adds an intriguing element to the ownership experience.
BC Vault offers seamless connectivity with thousands of decentralized applications (dApps) and supports Web3 via the WalletConnect protocol, enabling users to interact with the broader blockchain ecosystem effortlessly.
The wallet also features an in-app crypto exchange, allowing users to securely swap cryptocurrencies between wallets directly within the BC Vault desktop application at competitive rates.
Pros
- Well-made and durable
- Advanced security features
- A single application for all cryptocurrencies, eliminating the need for multiple apps
Cons
- Dated user interface
- Pricey compared to some other options
What is a Crypto Hardware Wallet?
A crypto hardware wallet is a physical device that securely stores the private keys necessary for cryptocurrency transactions. Unlike software wallets, which are always connected to the internet, hardware wallets keep your keys completely offline, shielding them from online attacks.
How Do Crypto Hardware Wallets Work?
Crypto hardware wallets don't store your cryptocurrencies. Instead, they keep your private keys safe. These keys are what you need to access your crypto assets, which live on the blockchain.
To make a transaction, the hardware wallet uses your stored private key to sign the transaction digitally. This signature proves to the blockchain that you're the rightful owner of the funds and authorizes the transfer.
One big plus with hardware wallets is their security. Since they store your private keys offline, they're less vulnerable to online threats like hacking. They only connect to the internet when you need them for a transaction, adding an extra layer of protection against attacks.
Hardware vs. Software Cryptocurrency Wallets
Hardware and software cryptocurrency wallets serve the essential purpose of safeguarding private keys, but they diverge significantly in terms of security, convenience and cost.
Hardware wallets, often called cold wallets, provide heightened protection by storing private keys offline on a physical device. This isolation renders them less vulnerable to online hacking attacks. Software wallets, known as hot wallets, remain digitally connected to the internet, exposing them to potential cyber threats.
Software wallets are more convenient. They can be accessed across various devices with an internet connection, including smartphones and computers, making them ideal for frequent transactions. Hardware wallets necessitate physical interaction and are better suited for long-term storage strategies.
Cost is another differentiating factor. Hardware wallets typically incur a higher upfront investment because of the expense of the physical device, while software wallets are often available for free download and use.
Pros and Cons of Using Hardware Wallet
Pros
- Offline storage: Keeps private keys offline, protecting against online hacking
- Enhanced security: Uses secure chips for robust protection
- Control over assets: Users retain full control over their private keys and assets
- Multi-currency support: Compatible with various cryptocurrencies and blockchains
Cons
- Convenience: Less handy for swift transactions compared to hot wallets
- Learning curve: May pose challenges for less tech-savvy users
- Cost: Generally pricier than software wallets
- Physical risk: Vulnerable to damage or loss, requiring proper backup to prevent asset loss
How to Choose the Best Crypto Hardware Wallet
When selecting a hardware wallet, consider:
- Supported cryptocurrencies: The best hardware wallet should support the assets you hold
- Security features: Look for wallets with additional layers of security, like air-gapped operations
- Ease of use: A user-friendly interface can simplify asset management
- Price: Determine your budget and find a wallet that offers the best value for your needs
Fortifying Your Digital Assets
The best crypto hardware wallet for you depends on your specific needs and preferences. Whether you prioritize convenience, budget or the sheer number of supported coins, there’s a wallet out there that’s the perfect guardian for your digital treasure.
Frequently Asked Questions
What is the most secure physical crypto wallet?
According to discussions on Reddit, the most secure physical crypto wallets are often considered to be Ledger and Trezor.
Which hardware wallet supports the most coins?
The Ellipal Titan, compatible with over 10,000 tokens, supports the most coins.
What is the safest and most reliable crypto wallet?
Users frequently recommend Ledger Nano X and Trezor Model One for their robust security features.
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About Anna Yen
Anna Yen, CFA is an expert crypto writer with over two decades of professional finance and writing experience in roles within JPMorgan and UBS derivatives, asset management, crypto, and Family Money Map. She specializes in writing about alternative investment topics ranging from derivatives to cryptocurrencies. Her work has been published on sites like the crypto exchange Bybit. After six years of personal experience investing in crypto, she prefers BTC, ETH, and SOL.