Choosing a Bitcoin Hardware Wallet
3 min read

What to consider when purchasing a hardware wallet and the best wallets to buy

By Editorial Team

Keeping your capital safe and secured has always been a focal point when it comes to cryptocurrency trading and investing. And for a while now people have been using digital wallets to help them in protecting their cryptocurrency so to speak. But the above wallets are usually software wallets and will now and then have flaws, so looking into purchasing hardware wallets have been seen as the best option.

To understand what a hardware wallet does is simple, a hardware wallet is a special type of bitcoin wallet which stores the user’s private keys in a secure hardware device. The keys are mostly kept in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext. The hardware wallet also resembles a standard USB device.

Why Get a Bitcoin Hardware Wallet?

There are a number of advantages that a hardware wallet has over a standard software wallet like a hardware wallet is completely immune to viruses and is difficult to downright impossible to be hacked. Software wallets are also an open source, so a user needs to validate the entire operation of the device constantly.

Hardware wallets are truth be told the best method of keeping your cryptocurrency as safe as possible, while still allowing you access to it. To access it a user just needs to connect the device to a computer and verify transactions on the wallet’s interface. Unlike software wallets, hardware wallets also give you more ownership over your keys because they’re stored on a dedicated chip that you can hold on your person.

The transactions are also verified on the hardware wallet itself by using the display panel and buttons part of the isolated system. And luckily even if you plug in your hardware wallet device into a computer that is affected by malicious software or viruses your private keys will not be compromised or be in any danger.

Which Devices to Consider

Knowing that a hardware wallet holds so much advantage over a typical software wallet, one can look into what will be the best hardware wallet to purchase. Doing some research can lead a person into making a wiser purchasing choice. According to the Bitcoin community and a wide range of different investors, there are a couple hardware wallets that have been voted the best wallets of 2017, these hardware wallets are a great purchasing option.

Ledger Nano S Bitcoin hardware wallet, allows the user to store different cryptocurrency coins as well like, Litecoin, Dogecoin, Zcash, Dash, Stratis, and of course Ethereum. With a very appealing design, the Ledger Nano S Bitcoin hardware wallet is also the most affordable.

Another great wallet is the Trezor Bitcoin hardware wallet. For some time now this wallet has been a close competitor of the Ledger Nano S wallet. Created by SatoshiLabs this is one of the most secured wallets out there. Resembling a calculator, this hardware wallet randomly generates nine digit pins and a 24-word recovery seed key making it inaccessible by non-users.

The KeepKey is also a popular wallet to purchase. Even though it isn’t that advanced as its competitors and is way bigger, it can still do a perfect job in providing complete security and accessibility. It also supports six cryptocurrencies including Bitcoin.

Buying a hardware wallet is necessary for today’s unsecured digital networks, and as mentioned with enough research and background checks purchasing the right hardware wallet won’t be difficult.

Featured Image via Fotolia

Editors at large. Posting the latest news, reviews and analysis to hit the blockchain.
View all posts by Editorial Team -> Best Crypto Deals ->

Latest Posts

Bitstamp Review
Bitstamp Review 2022: Secure and Simple Cryptocurrency Exchange
Bitstamp Review

Bitstamp Review 2022: Secure and Simple Cryptocurrency Exchange

August 6, 2022 27 min read
Phemex Review
Phemex Review 2022: Secure Crypto Exchange for Serious Traders
Phemex Review

Phemex Review 2022: Secure Crypto Exchange for Serious Traders

August 2, 2022 33 min read
How to add Polygon to Metamask
Connecting the Polygon Network to Metamask
How to add Polygon to Metamask

Connecting the Polygon Network to Metamask

August 1, 2022 11 min read
bitget review
Bitget Exchange Review 2022: Growing Crypto Exchange with BIG Potential!
bitget review

Bitget Exchange Review 2022: Growing Crypto Exchange with BIG Potential!

July 29, 2022 32 min read
Shorting the market
Declining Crypto Prices: Is Shorting Crypto a Good Idea?
Shorting the market

Declining Crypto Prices: Is Shorting Crypto a Good Idea?

July 27, 2022 29 min read
How to add Binance Smart Chain to Metamask
Connecting the Binance Smart Chain to Metamask
How to add Binance Smart Chain to Metamask

Connecting the Binance Smart Chain to Metamask

July 26, 2022 10 min read
Bybit Review
Bybit Exchange Review: Dream Destination for Derivatives Trading?
Bybit Review

Bybit Exchange Review: Dream Destination for Derivatives Trading?

July 24, 2022 37 min read

Related Posts

Bitstamp Review
Bitstamp Review 2022: Secure and Simple Cryptocurrency Exchange
Bitstamp Review

Bitstamp Review 2022: Secure and Simple Cryptocurrency Exchange

August 6, 2022 27 min read
Phemex Review
Phemex Review 2022: Secure Crypto Exchange for Serious Traders
Phemex Review

Phemex Review 2022: Secure Crypto Exchange for Serious Traders

August 2, 2022 33 min read
bitget review
Bitget Exchange Review 2022: Growing Crypto Exchange with BIG Potential!
bitget review

Bitget Exchange Review 2022: Growing Crypto Exchange with BIG Potential!

July 29, 2022 32 min read
Euler Finance Review
Euler Finance Review 2022: Is Euler the Next Generation of DeFi Lending?
Euler Finance Review

Euler Finance Review 2022: Is Euler the Next Generation of DeFi Lending?

July 25th, 2022 36 min read
Top Blockchain Conferences in 2022
Crypto Conferences for 2022 And Beyond
Top Blockchain Conferences in 2022

Crypto Conferences for 2022 And Beyond

July 21, 2022 15 min read
Guild of Guardians Review
Guild of Guardians Review 2022: Top Free-To-Play Mobile Crypto Game!
Guild of Guardians Review

Guild of Guardians Review 2022: Top Free-To-Play Mobile Crypto Game!

July 19, 2022 22 min read
APECoin Review
APECoin Review: FOMO for the Ordinary Folk
APECoin Review

APECoin Review: FOMO for the Ordinary Folk

July 11, 2022 12 min read