Best Hardware Wallets
Digital wallets or cryptocurrency wallets are virtual software to store your cryptocurrencies, be it Bitcoin, Ether, Ripple, Dogecoin, etc. Since the emergence of cryptocurrencies, the financial market has been changing thanks to blockchain technology, increasing the security and speed of transactions. Nowadays, more and more companies are accepting cryptocurrency payments for their products or services, and it has become a means of marketing for banks or institutions.
What is a cryptocurrency wallet or purse?
The wallets, wallet or digital wallet, or cryptocurrency wallet, are where we can manage our Bitcoin or Altcoins. It is a software or hardware device that allows us to exchange or store our cryptocurrencies through the Blockchain network of each cryptocurrency. We can differentiate two types of Wallets depending on whether they have a connection to the network or not. This classification is made between cold wallets and hot wallets.
Cold wallets or cold wallets
Cold wallets are hardware devices without an internet connection that allow us to store our cryptocurrencies. These wallets have the advantage of increasing the security of your digital assets, as they cannot be hacked as they have no connection.
The problem is that, for security reasons, these cryptocurrency wallets tend to have high prices. When you accumulate a large number of assets, it is almost necessary to have one.
The best cold wallets or cold wallets.
Depending on the function of each cold wallet, we can decide on one or the other. These are the three most important cold wallets at the moment:
Ledger Nano X
Wallet of French origin that allows connection to devices via Bluetooth or USB. This device is designed with the structure of a USB and has a capacity of more than 30 cryptocurrencies, either Bitcoin or Altcoins.
Ledger Nano S, its predecessor, is a first-generation wallet and was one of the pioneers in the world of Wallets. It supports more than 1500 cryptocurrencies.
Trezor Model T
This model belongs to the second generation of hardware wallets. It has a touch screen, offering an intuitive interface for verifying and approving transactions. It was developed by Satoshi Labs and was the first company to produce hardware that supports Bitcoins.
This cold wallet allows you to store various cryptocurrencies such as Bitcoin, Ethereum, or Dash. On the downside, it has the highest price on the market. Like Ledger Nano X, it comes with a USB Type-C cable to be connected to a computer or smartphone.
A new company has developed this cool wallet. Its appearance is similar to Ledger, but it contains a much more comfortable reading screen. The advantage of this Cold Wallet, mainly beside the security of being a cold wallet, is the screen's readability and synchronization with the Shapeshift wallet, which allows easy transactions. On the contrary, the disadvantage is its current small community and that it can only be used via USB.
Hot Wallets or Hot Wallets
Hot wallets are the place where you can store your cryptocurrencies with an internet connection. They consist of software that allows you to manage your cryptocurrencies. A hot wallet tends to be more vulnerable to being connected to the Internet. However, they are more accessible to anyone.
Best hot wallets or purses
Within this classification of cryptocurrency wallets, we can find a wide variety of software to exchange or store our digital assets. Let's mention some of the most popular ones on the market.
Klever OS is an innovative operating system and cryptocurrency wallet that enables developers of all platforms to use it intelligently and securely within their applications, cloud, servers, hardware, smartphones, pen drives, mobile devices, and wearables.
Klever OS rethinks and rebuilds the core wallet system to replace cryptographic wallet solutions and give the user advanced security on a whole new level. It consists of an SDK library that automatically extends your application to organize and protect information on the device of your choice.
Cryptocurrency markets never sleep, and their volatility means that everything can change in the blink of an eye. Trust wallet is one of the most popular digital wallets of the moment.
Trust wallet allows you to manage your tokens and cryptocurrencies and simultaneously control your private keys through a straightforward mobile application. In addition, a trusted wallet will enable you to store most of the most popular tokens on the market.
Trust Universal Wallet allows you to back up all your assets, simplifying portfolio management. It also includes a web browser3 that will enable you to browse DApps from the Internet without leaving the wallet. Trust DApp Marketplace offers you all the confidence of the blockchain and meets rigorous quality and security standards, and is optimized to the highest level.
Trust Wallet is working with Binance on market monitoring features, custom networks, test networks, a native DEX, and full integration with Binance's infrastructure.
The Velas Wallet project allows users to store non-network native cryptocurrencies like BTC and EOS. With its Schnorr Signature system, the technology ensures that joint wallet owners agree before executing a transaction.
Users can support other cryptocurrencies along with the platform's proprietary VLX token when using the Velas wallet. This includes Bitcoin, Ethereum, XRP, Monero, and EOS. In addition, Velas users can create private keys from the wallet, store supported non-native coins, and create backups of multiple signatures.
Coinbase is the most popular and widely used wallet on the market. The Coinbase cryptocurrency wallet is one of the most secure, and that's for a mobile app. This hot wallet accepts Bitcoin, Ethereum, and Litecoin. Coinbase offers a level of security that is close to that of cold wallets. In addition, this wallet has commissions of 1.49% for regular buying and selling and 3.99% for instant purchases.
VeraWallet is the viewers' entry point to the Verasity network and allows users to store, earn and transact with VRA. Within the wallet, viewers have access to their main account, deposit account, and betting account. Currently, Verasity's project is one of the most interesting in the market due to its usability and the B2B advantages it provides to brands and content creators.
Electrum is another well-known hot wallet, and is one of the original Bitcoin wallets. It has been around since 2011 and can operate with all operating systems. It is recognized as one of the best hot wallets in the world. Electrum does not offload the entire blockchain and supports cold wallets like Ledger or Trezor. It is an open-source wallet and allows its users to apply custom fees on transactions. Electrum allows you to determine the level of security, but its commitment is only to Bitcoin.
Exodus is a hot wallet with a very intuitive user interface. One of the most popular advantages is that it allows trades between many cryptocurrencies, reaching over 1000 different cryptocurrencies. Exodus is ideal for beginners starting in cryptocurrencies, as more advanced users may find it lacks some features.
This hot wallet allows you to set custom rates to keep costs down and gives you the option to set automatic rates to ensure a fast transaction.
Types of cryptocurrency wallets or purses
In addition to the classification we have made above, we can distinguish cryptocurrency wallets according to the platform where it runs. We can find five digital wallets for our assets:
It only allows access from a PC, where we must download and install it. It will enable you to create and store your private key and public address to manage your cryptocurrencies. It has a higher level of security than other types of wallets because you can connect or disconnect it from the network.
As the name suggests, these wallets can only be run on a smartphone. They are app-based, share the same user interface system, and are created to be supported by Android or iOS operating systems. They have the advantage of offering greater mobility, as you can carry them with you at all times and use them from any location you are in.
Wallet or cryptocurrency wallet stored in the cloud. It is based on web applications, allowing you to access it from any connected device. However, it is a more vulnerable type of wallet as it is stored in the cloud, connected to the network, and involves control by third parties that manage the server.
It belongs to the cold wallets and offers greater security. It is a wallet printed on paper that contains the keys and addresses to manage your cryptocurrencies. They work by generating QR codes, and its creation is effortless through software or online platform.
These are the cold wallets that we discussed earlier. They are usually USB-shaped and store the keys to access your cryptocurrencies most safely, as they have no connection to the network. We can find different digital wallets depending on their connection, storage capacity, or transaction capacity.
With the increasing utility that cryptocurrencies such as Bitcoin, Ether, Litecoin, or Cardano are offering, as they become part of business-to-business transactions and are installed as a payment method, we need to know how and where to manage our digital assets.
Cryptocurrency wallets are the place where we can make transactions and exchanges or simply store them. Knowing how to choose between the different options will give us greater security for our operations with cryptocurrencies.
Don't forget that at Bitcoinsafety.com, we are happy to advise you on which devices are best suited to your current needs and make it possible for you to acquire these devices.