With new waves of technology coming in and out of the online systems, cryptocurrency has stayed around for the last few years in the public eye. Whether or not you are a seasoned cryptocurrency user, or a new user, you may be familiar with hardware wallets to store your digital cash securely. It is mainly used for those who plan to hold onto this currency for long lengths of time to watch it grow and flourish.
Using crypto hardware wallets is a better option for cryptocurrency users as it keeps your money in a physical lock rather than a firewall that can be hacked into. These wallets can be protected by PIN’s, biometric finger scans or manual buttons that only you know about to keep your money safe. There are many different hardware wallets on the market and we have compiled a list of hardware wallets varying in price, lock style and user-friendly styles for you. Rest assured, your cryptocurrency will be in safe hands and will be secured from malicious cyber attacks.
- All crypto in one place
- Pricier than other models
- Some battery problems have been found
- Connection for both mobile devices and computers
- Easy to use for both new and seasoned users
- Limited support for many coins
Safest Hardware Cryptocurrency Wallets
How does it work?
As we have seen there are many different hardware wallets that are flooding the market for all cryptocurrency users, and there are many different reasons as to why you may pick a particular wallet over another. There are some specific features you should look out for when picking the perfect wallet for you.
Are Hardware Wallets Portable for everyday use?
If portability is important to you, definitely check out hardware wallets that can be used in and out of the home. Hardware wallets that are bluetooth-enabled like the Nano X and the D’Cent Biometric Wallet are easy to use outside of the house as you don’t need to worry about connections to your phone. However, a hardware wallet like the TREZOR One can connect to a mobile device via a cord and the Sugi Wallet uses the chip within the card, so they take a little more time but are still portable. For complete anonymity I keep my hardware wallet stored in another physical lock which demises people from visually seeing my wallet device.
Not all hardware wallets may support your chosen cryptocurrency. If you use coins and tokens from leading companies like Bitcoin, all of these hardware wallets will support these coins and tokens, however other wallets may not support your chosen crypto. Definitely double check before purchasing your chosen hardware wallet with the brand so it fits your needs and accessibility.
Average Price of Crypto Hardware Wallets?
Prices vary within this list from $60 to over $150. Assessing your budget and what specific hardware wallet you want to invest in is incredibly important. If you want a wallet that can hold a near unlimited amount of different coins and tokens, then spending the extra money for a hardware wallet like the TREZOR Model T may be a smart option, or if you only need a few different coins and tokens, the Nano S may be the best affordable option for you.
Securing your NFT Digital Wallet safely before using a Hardware Wallet
With the sudden surge of NFTs in 2021, there’s been a spike in malicious attacks on NFT wallets. Time and time again, NFT holders are forgetting the basic safety precautions to avoid being scammed their savings in NFTs.
These are some simple steps to keep your digital wallet safe:
- Never click on links you seldom visit.
- Don’t visit sites you don’t normally interact with, especially insecure http sites.
- Make sure you remove connected sites on your NFT wallets in the later, such as MetaMask or Phantom.
- Avoid logging into private networks. This means whenever you log into your wallet, use your home private connection.
- Log out of your wallets as soon as you’re done. Imagine keeping your laptop open in a public space and when you come back your NFT collection is vanished.
- Don’t assume anyone is who they say they are especially on discord.
- Create a secure password for your Digital Wallet.
Discord is one of the most elementary ways to get caught out as users will pretend to be administrators from a new NFT mint (launch).
Now you’re up to the next stage of connecting your digital wallet to your physical wallet to keep you safe and sound online.
How to connect your MetaMask Wallet (Digital Wallet) to the Ledger Nano (Physical Wallet):
To further secure your NFT collection you have to integrate your Digital Wallet into your Physical Wallet.
- Buy a Ledger Hardware Wallet to safeguard your private key collection. The Ledger Live software is available on mobile and desktop for which servers as a gateway and enables you access to all of the tools and services that can be downloaded at no cost.
- If you have some Ethereum, then it’s time to get your hands on Ledger Live. Once in there, create an account by clicking accounts. Adding an Ethereum account enables you to convert Fiat ($,£,€, etc.) into Ethereum (Cryptocurrency).
You can now use the Ethereum account you created in Ledger Live on MetaMask from the safety of your Ledger Device.
- Connect your Ledger Nano to the computer and open up a full screen interface.
- Once you’ve installed the MetaMask wallet, click on its top-right menu and find “Connect Hardware Wallet.” Click this option to associate your hardware device with it!
5. Continue to Connect Hardware Wallet. MetaMask will look for the Ledger device connected to your computer. Unlock it and make sure that you are signed in before clicking “Continue” or else prepare for an error message!
6. Once it discovers your wallet, MetaMask will prompt you to choose a Ledger account that is most preferred. Choose the one with ease and finish or create an account from this site if none exist yet!
7. The first thing you should do is click on the Ethereum application displayed in your hardware wallet, then go into settings and turn on blind signing (please be aware of the risks associated with blind signing). Or you will encounter issues.
Open up MetaMask window by clicking account logo at top right corner, scroll down until see “settings” and click “advanced settings”. Scroll down and turn on “use with Ledger Live”.
Ensure the Ledger Live app is ready to go.
Wow, that’s a lot of power for your Ledger wallet! You’ll be able to view and transact in all blockchain applications on your MetaMask web-extension.
Connect your ledger wallet to a device and open the Ledger Live app. Once you’ve verified yourself, sign transactions with ease using just one tap on both devices!
8. You made it to the end, congratulations. Connect your Ledger wallet to establish authenticity, verify and sign transactions from your favourite NFT marketplaces, such as OpenSea in your Nano Ledger Hardware Wallet when you select MetaMask to login.
There are so many different hardware wallets out on the market that anyone interested in or already using cryptocurrency should invest in. So many people hold their coins and tokens on their devices without additional protection and that is where these wallets come in handy. Definitely do your own independent research into which hardware wallet is perfect for you, by looking into supported currencies, portability and ease of use. There is no better way to protect your precious cryptocurrency than with a hardware wallet.
A hardware wallet is a small device that can look similar to an adaptor for your computer or a flash drive/USB that holds your cryptocurrency like Bitcoin. These wallets are protected with additional codes, sometimes fingerprints or phrases that keep your online money safe from theft and hackers.
No, it isn’t necessarily required to have a hardware wallet if you are looking to invest into cryptocurrency. Due to the nature of others and security and protection for your funds, hardware wallets are highly recommended for not only seasoned crypto users, but also newcomers who want to keep their currency safe.
Each hardware wallet comes with what is known as a recovery seed. These recovery seeds are ways to access your cryptocurrency and remove it from the wallet and move it all to a new wallet or secure place. It is important to not lose this recovery seed as if the unfortunate happens and your wallet is lost or stolen you cannot access your crypto without the recovery seed.