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Top Bitcoin Hardware Wallets: A Comprehensive List 

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Bitcoin Hardware wallets

Top Bitcoin Hardware Wallets: A Comprehensive List 

Bitcoin Hardware wallets

Bitcoin hardware wallets are arguably one of the safest options out there to store your Bitcoin and other cryptocurrencies. A hardware wallet is a type of cryptocurrency wallets which allows you to store your private keys in a secure physical location. These wallets are kept offline, which means no one can hack them to steal your Bitcoin or other digital currencies.

Almost every day, we read in the news about how hackers are gaining access to peoples crypto accounts. People are losing millions to hackers in a reoccurring fashion; therefore, we need to take the safety of our digital assets seriously. You may have lost a significant number of cryptos to hackers, or you know someone who has suffered such fate. This is often the result of storing your cryptos in hot wallets or exchange platforms.

This article is a comprehensive guide on the best Bitcoin hardware wallets that will ensure the safety of your coins. People lose their funds and most times; the platforms don’t have an explanation to what happened. Hackers are real and can do significant damage if allowed to strike. Cryptocurrency hardware wallets are adequate security against crypto loss to cybercriminals.

Also Read: How to Store your bitcoins and keep it safe

The hardware wallets are designed to hold your cryptos offline, making it highly improbable to be hacked. In this post, we shall explore the best Bitcoin hardware wallets to help you make an informed choice. For those of us who are not well-versed in coding and technical details, hardware wallets will be perfect for you.

Before we delve into the best cryptocurrency hardware wallets, let us look into the types of cryptocurrency wallets and the different types.

What is a Cryptocurrency Wallet?

Wallets remind us of a place where we easily keep and store our money. In the case of a traditional wallet, you can put money inside to store it and also take the money out to give to another person. In the crypto space, it is quite different. The public address of your wallet is where people can send you your crypto. Using the private key of your crypto wallet, you can unlock your cryptocurrency and use it in any way you so, please.

Therefore, a cryptocurrency wallet is a specially designed program that holds both your private and public keys. You can use it to receive and spend your cryptocurrency. Therefore, if it falls into the wrong hands, it can be used to steal your cryptos. We have two major categories of cryptocurrency wallets; hot wallets and cold wallets.

  • Hot Wallets

They are cryptocurrency wallets that are actively connected to the internet. Although these wallets are easy to navigate, they are highly vulnerable to hacks. Exchange wallets, mobile wallets, and desktop wallets are all examples of hot wallets.

  • Cold Wallets 

They are wallets that are not connected to the internet; therefore, they are safe from malicious hacks. A good example of cold wallets is paper wallets. A cold wallet is a way to hold and store your cryptocurrency safely without the fear of malicious attacks or hacks.

Hardware wallets integrated the safety of cold wallets and the ease of transactions of hot wallets.

Bitcoin Hardware Wallets

Hardware wallets are physical devices that store your private keys. They are so secure that you can use them with a device you don’t trust. Some of the good things about having a hardware wallet:

  • The wallet is disconnected and off the internet, so it cannot be breached.
  • Anytime you want to transact with your crypto, you connect it to a computer or device, input your pin code and start transacting with your cryptocurrency. Once you are done with the transaction, you disconnect the hardware wallet and keep it a secure place.
  • The hardware wallets ensure that your private keys are secure since the key never leaves the wallet. This is because the entire transaction validation process takes place within the hardware wallet and not on the computer or external device.

We have seen the hardware wallet in a nutshell; let us consider the best amongst them all.

Why Do You Need Bitcoin Hardware Wallets 

The major reason why you need a hardware wallet is the security of your cryptocurrencies. Below are some of the prominent historical hacks to motivate you:

  • In 2012, Bitfloor lost about 24,000BTC to hackers. The most painful part I that they were shut down and investors also lost their money.
  • Bitfinis was hacked 120,000 BTC was stolen in 2016, although they were able to reimburse users gradually and regained their reputation.
  • In 2015, Bitstamp lost about $5 million worth of BTC to hackers.
  • Mt.Gox crypto exchange was hacked both in 2011 and 2014. In both attacks, the exchange lost 750,000 (worth $350 million at that time). The company later declared bankruptcy and users lost their money.

Best Bitcoin Hardware Wallets for Your Cryptocurrencies

  1. The Trezor Hardware Wallets

Bitcoin Hardware wallets

Just as the name “Trezor” implies vault, this crypto wallet protects your coins against physical and virtual theft. It is the first hardware wallet and storing your crypto here is like keeping them in a secure physical vault. Over the years, Trezor has remained one of the best crypto wallets in the market. It comes with two different wallets which look like a regular car key.

  • The Trezor one 

It supports more than a thousand cryptos, including ERC-20 tokens. Meanwhile, it does not support Ripple (XRP), Ada (ADA), Monero (XRM). Trezor One is compatible with macOS, Windows 8+, and Linux computers.

Read: Top 5 Best Cryptocurrency wallets in UK, US, Nigeria, and India

  • Trezor Model T

It is a slight upgrade on the Trezor one because it supports more cryptos, including the likes of Ripple, Ada, and Monero.

  1. Ledger Hardware wallets 

Bitcoin Hardware wallets

They look exactly like a USB flash drive, and can easily pass as one when carrying it around. The Ledger’s proprietary technology, known as BOLOS, holds the private keys in a well secure chip that is permanently kept offline. There are two reputable Ledger hardware wallets currently available in the market. Both are designed with software that functions as an interface between your Ledger device and the computer. This software is called “Ledger Live.”

  • Ledger Nano S

It functions similarly like the Trezor. Looking like a USB flash drive, it requires the presence of its user before any transaction can be confirmed. This is obtainable due to the inclusion of hard keys that must both be pushed simultaneously by the user before any crypto transaction can be authenticated.

  • Ledger Nano X

It is a superior Bitcoin hardware wallet, and it is designed in the same way as the Nano S. However, it is bigger in screen and boy size. The Nano X comes with a Bluetooth connection that allows it to be connected to your Smartphone. You can carry out your transaction anywhere you are, provided you have your wallet and your Smartphone.

  1. The KeepKay Hardware Wallet

Bitcoin Hardware wallets

It provides you with beauty & style while ensuring the safety of your cryptocurrency by keeping the private keys offline. Its wide area touchscreen makes it seem bulky. Meanwhile, it supports only a little above 40 cryptos.

  1. Bitfi Hardware Wallet

This is a complete paradigm shift from the rest of the hardware wallets. It is arguably the most secured hardware wallet. Your private keys are not stored on the device, and it comes in the shape of a Smartphone. It has unlimited coin support as it automatically updates itself once new crypto has been added to Bitfi.

Conclusion

We have taken the time to explore all there is about Bitcoin hardware wallets. Before you select any of these hardware wallets, it is important to look into their pros and cons. It will help you to decide which of them works best for you. For your contributions and questions, kindly make use of the comment box provided below.

 

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What is Cryptocurrency And How Does It Work? 

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Obiex finance website

Cryptocurrencies are decentralized digital assets that operate on blockchain technology that in turn operates by storing a ledger of every transaction on all nodes powering the blockchain. 

In layman’s terms, blockchain technology is like a record keeper, it collects data (in blocks) and links one block of data to another, forming a chain. The data on the blockchain is open for all to see and cannot be easily altered. Blockchain technology can be used for a variety of use cases besides cryptocurrency, ranging from voting to crowdfunding, keeping health records, etc.

Using Bitcoin as an example, nodes are computers connected to the network to mine Bitcoin,  – this collection of independent nodes working together is what makes the network decentralized.

The decentralized nature of cryptocurrency is down to the creators recognizing flaws in traditional banking & financial systems like governments and financial institutions acting only in their best interests and not in the best interest of the common man, leading Satoshi Nakamoto (the creator of bitcoin and blockchain technology) to take steps to rectify that.

Related: What are NFTs?

To make cryptocurrency transactions, you will need to have a set of both public and private keys that will act as passwords protecting your crypto wallet. 

The Public key is connected to your wallet address, allowing you to share the address with others to receive cryptocurrency, while the private key is known to only you and is what you will use to approve outgoing crypto transactions from your wallet. 

Trading Cryptocurrency on Obiex

Obiex finance website

With the popularity of cryptocurrency trading currently at an all-time high, the biggest challenge for many rookie traders is selecting which cryptocurrency exchange to trade on.

If you fall in this category, the immediate priority should be finding an exchange that allows rookie traders to make trades easily, doesn’t charge extra fees and is completely secure. That exchange is Obiex Finance.

In this guide, you will be shown how to navigate the Obiex mobile app & website easily and what to do to get started with making cryptocurrency trades. 

Getting started with Obiex Finance 

Obiex Finance is a digital asset exchange and financial technology (Fintech) platform that gives its users the ability to easily execute cryptocurrency trades from anywhere regardless of their skill level.

Their commitment to ensuring that users get the best experience is shown in how they allow instant swaps from volatile coins like Bitcoin to stable coins like USDT, and vice versa, without confirmations. In a market where the value of crypto can fluctuate wildly, this feature is especially valuable as it allows users to seamlessly switch between making profits to saving those profits in a more stable currency before the value drops.  

To create an Obiex Finance account, simply head over to their homepage, click on “sign up”, fill in the required fields and verify your email address. After that, create wallet addresses for your crypto assets and you’re ready to start trading!

The cryptocurrency available for trading on the Obiex Finance platform are: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Polygon (MATIC), Dogecoin (DOGE), Tether (USDT), Binance USD (BUSD), and USD Coin (USDC).

Getting Started with Cryptocurrency trading

After creating your Obiex account, you need to follow these simple steps:

  1.     Have a Trading Strategy: Trading cryptocurrency without having a strategy in place is the easiest way to lose your money. You will need to research the various crypto trading strategies thoroughly and choose the one that best suits your needs and temperament. For example, if you’re a patient person who is content to make smaller, safer trades over a long period of time instead of making riskier trades, then scalp trading is the best trading strategy for you. There are also other crypto trading strategies such as Swing trading, position trading, Arbitrage, dollar cost averaging etc.
  2.     Pick the cryptocurrency you’d like to trade: There are several cryptocurrencies available on Obiex Finance such as Bitcoin, Ethereum, Binance Coin, Tether etc. Selecting which cryptocurrency to trade is usually down to making a choice; whether to stick with the safer, more established cryptocurrencies like Bitcoin or to go with the more volatile coins that have a high upside and an equally high-risk factor like the Dogecoin which can move in either direction based on what Elon Musk tweets.

It is also important to note that when you pick a cryptocurrency to trade, it would be wise to ensure that the cryptocurrency matches the strategy you pick. For example, if your preferred strategy is patient scalp trading, then investing in volatile coins that have a high upside but carry a lot of risk is not the wisest move. 

To swap crypto on Obiex Finance, add the wallet of crypto assets you’d like to swap, send the crypto to the wallet you just created, navigate to the ‘swap’ option on your dashboard, and select the coins you’d like to swap. You will receive the swapped coin in your wallet balance immediately without waiting for network confirmations.

  1.     Securely store your cryptocurrency: The same way you’d protect your goods and profits if you had a physical store is the same way you need to protect your cryptocurrency so it doesn’t fall into the wrong hands.

You can store your crypto securely on your Obiex wallet but if you want an alternative, physical wallets are also an option. Physical wallets allow you to store your crypto in secure hardware, offline storage device reducing the likelihood of online hackers stealing your hard-earned crypto. This is a list of reliable physical wallets you can use.

Conclusion

If you’re a newbie to crypto trading, the keyword is patience. Taking the time to properly understand the market before making trades will stand you in good stead. While risks occasionally pay off, a patient, long-term strategy is required to make consistent profits. For more information about trading as a newbie, you can check this out to understand unfamiliar crypto terms and to learn more about spot trading and futures.

Obiex Frequently Asked Questions | Obiex FAQs

  • Will I be charged a fee when I swap coins on Obiex? 

No you won’t. While other crypto exchanges charge for trades and require confirmations to execute swaps, Obiex allows you to make free, instantaneous swaps without the delay that comes with waiting for confirmation. This also helps you avoid unnecessary losses.

  • Can I trade crypto on Obiex if I don’t know much about crypto? 

Yes, you can! The Obiex Finance platform allows both rookie and experienced traders to make easy, safe trades regardless of trading experience.

  • Can I send and receive crypto easily?  

Yes, you can. To send crypto, you will use your private key to execute outgoing trades and your public key/your wallet address to receive incoming trades. You can also send and receive crypto using just Obiex usernames.

  • Why do I need to swap coins? 

Swapping coins allows you to either acquire a coin you think is (currently) more valuable than a coin you have a lot of. You can also use swaps to ensure that your funds are invested in a more secure coin like USDT if you feel the volatile coin you’re holding is about to go on a bear run and lose value.

  • Do I get a referral bonus when I invite friends to use Obiex? 

Yes, Obiex has a referral campaign that rewards users that invite their friends and family to trade the minimum of $10 on Obiex.

 

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