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The year 2009 is really special for the crypto world, as in this year the world got the Bitcoin and this word Bitcoin has now become an identification when we talk or listen about cryptocurrency and blockchain technology. Now, after a decade Bitcoin has become a well-known identity in the field of cryptocurrency.
Bitcoin not only lifted the crypto domain but also created an environment for other cryptos or altcoins to grow. As in result, there are more than 4K cryptos in existence as of January 2021. And people also showing interest in investing in various cryptos. But still, there is a hesitation in them regarding how they can keep their crypto with them.
Don't worry this article will address this problem, as we are going to discuss "Hardware Crypto Wallets in 2021". If we talk about how to store or keep cryptocurrency, then this process is not the same as keeping your money in digital wallets, in the case of crypto, it is a little complicated. Crypto coins and tokens are part of a particular blockchain and cryptocurrency never shifts from its blockchain. So, here comes the crypto wallet, it will create a public address on that blockchain. And this will make it easier to transfer your cryptos from one address to another.
Crypto wallets not only transfer but also store your crypto safely in them. Presently, crypto exchanges like Coinbase, Binance, and Kraken allow you to store your cryptos. But if you are someone who believes in conventional methods then a crypto wallet is the best option for you. Because it is not managed by any third party, and you can safely keep your crypto assets in them.
Types of Crypto Wallets
Now, before jumping on our main course, let's have a look at the types of crypto wallets. These are classified into two types: Hardware wallets & Software wallets also known as Hot and Cold wallets. As the name suggests, the hardware crypto wallets are actually physical devices that you can carry with you. Before storing crypto in it, you need to buy it. On the other hand, software wallets are free to use and these are only accessible with the help of the Internet.
With hardware crypto wallets, you can relate it with your house's locker and the software wallet is like your bank's locker. So, when it comes to something that is managed or access with the third-party thing, then somewhere questions on security will arise naturally. So, let we start our main part which is the Best Hardware Crypto Wallets.
Best Hardware Crypto Wallets 2021:
First on the list of Best Hardware Crypto Wallets is Ledger. In 2014, a firm named Ledger was launched in Paris. Its wallets are currently working in more than 160 countries and they have sold more than 1,000,000 units till its launch. They not only sold massive units but also succeed in creating credibility or trust among the people.
How does Ledger Wallet works?
In Ledger's hardware wallet, many security elements work together along with a special protected operating system and all these things have only one motive and that is to protect your crypto assets.
What Crypto can Ledger hold?
Its hardware wallets can store more than 1000 crypto coins. Also, you don't need to worry if you have Dogecoin, it facilitates a storage place where you can store coins like Bitcoin, Ethereum, Dogecoin, LINK Chainlink, Litecoin, Cardano, Stellar, and Polkadot. And not only crypto coins, but here you can also store many crypto tokens.
What if the Ledger hardware wallet gets stolen?
In Ledger's hardware wallets they use a 24-word backup recovery code. And this recovery code can be used to access a user's cryptocurrencies if the device containing the private key is stolen.
For more details on Ledger's wallet, you can visit their official Website, Legder.com
In the initial times of Trezor, it was the first Bitcoin hardware wallet in terms of storing Bitcoin in safely and legitimate place. Basically, with these hardware wallets, you can process your crypto transactions without any threat of info leaking to anyone and the whole system runs in a secure environment.
These wallets are fully compatible with computers and smartphones. If we talk about operating systems, then it supports all operating systems like Windows 10, macOS 10.11 and higher, Linux, and Android OS.
Now, we come with the main question that is which coins are supported by Trezor. So, it supports 100+ coins and tokens and in this list, it has coins and tokens like Bitcoin, Monero, Litecoin, Dash, Zcash, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Expanse, UBIQ, NEM, and Bitcoin Testnet. If you want to see the whole list then you can refer to this link of the full list.
When you try to connect your Trezor wallet with your computer, it has a pin code-based authentication which ensures that the computer you are using to manage your cryptos present in your Trezor wallet is compromised. If someone tries to guess your wallet's pin then in this case this has also a brute attempt prevention method. If will just increase the waiting time by the power of two on every wrong attempt.
How do you get crypto on Trezor?
According to trezor blog,
Step 1: Connect your Trezor device and open the Trezor Wallet.
Step 2: Click on the Buy tab in the menu bar.
Step 3: Choose an exchange from those listed. Here, you will find many exchanges with different payment methods, you can choose anyone at your own convenience.
Step 4: When you have selected an exchange, follow the directions given.
Step 5: Success!
For more details on Trezor's wallet, you can visit their official Website, Trezor.io
KeepKey hardware wallets make crypto's security simple. Its wallets have an OLED display and an attached confirmation button so that you can review every crypto transaction. Only you will have the whole accessibility here so that no third party can freeze or lose your funds.
In terms of transparency, KeepKey's software's code can be reviewed by any developer or coder throughout the world, so that they can't keep any malicious code in them, as these wallets are open-source. The security of these wallets is featured by a special environment that provides strong protection against computer vulnerabilities and malware, as no software used here.
- Stress-Free Security: Generate and manage your private keys offline
- Straightforward Backup and Recovery: Each device generates a 12-word recovery sentence during initialization that can be used to retrieve your private keys.
- Sleek and Simple Display: The large display gives clarity to every digital asset sent and received on your device.
- Coins Supported: Bitcoin, Bitcoin Cash, Bitcoin Gold, DASH, Dogecoin, Ethereum, Litecoin
For more details on KeepKey's wallet, you can visit their official Website, KeepKey.
Price Comparison: Ledger, Trezor and KeepKey
Conclusion: Hardware Crypto Wallets
Now, we are going to end this article "Hardware Crypto Wallets 2021". We presented you with the top 3 hardware crypto wallets. These are selected without any sponsorship, all recommendation is on their features and security levels.
We are not biased on any wallet. As we know these are meant to keep your financial assets and we don't want to suggest anything unsafe. So, yeah hope you found this article valuable. Bookmark, SocialMirror.in for all latest and worthy articles.