Best Bitcoin Hardware Wallets 2018
Let me guess….. You have heard cases of people losing thousands, millions and even Billions of dollars worth of Cryptocurrencies to cybercriminals. You have heard of how vulnerable software wallets are to cyber attacks and how dangerous it is to leave huge amounts of Bitcoins and other Cryptocurrencies in exchanges. You have heard of dangerous spyware, capable of stealing information from your computers. It’s hard to say, but I have to say the truth, believe me, “all you have heard is totally true”. Yes, People have lost fortunes to hackers. Yes, exchanges have been hacked and users digital currencies carted away with. Yes, computers have been infested with spyware leading to loss of Bitcoins and so much more. However, getting one of the 4 best Bitcoin hardware wallets 2018 will keep you safe from the threats above.
Hardware wallets give you that extra security by keeping your Cryptocurrencies safe and out of reach from criminals by securely storing your private keys in an offline micro-controller, giving you total control of your Cryptos and providing them with complete immunity from viruses and spyware. Here is a review of the best Hardware Wallets available.
Grab a seat and pay attention as we discuss “4 best Bitcoin Hardware Wallets 2018″
4 BEST BITCOIN HARDWARE WALLETS 2018
Here are our picks for the top 4 best Bitcoin hardware wallets of 2018.
|Trezor||60mm x 30mm x 6mm||Yes||USD|
|Ledger Nano S||98mm x 18mm x 9mm||Yes||USD|
|Keepkey||38mm x 93,5mm x 12.2mm||Yes||USD|
|Ledger HW. 1||35mm x 15mm x 3mm||No||USD|
Let’s get down to details, shall we?
TREZOR (BEST FOR STORING BITCOINS)
The word TREZOR means “VAULT” and yes, storing your cryptocurrencies in this wallet protects them from physical and virtual theft and is equivalent to storing them in a well guarded physical vault. This is inarguably one of the best hardware wallets available in 2018, and hence the reason why it features in our top 4 best Bitcoin hardware wallets 2018.
This hardware wallet comes in the shape of a USB dongle and is compatible with most operating systems like Windows, Linux and OS X. with TREZOR, you can afford to be careless with the kind of computers you transact on, you can transact safely with your TREZOR device on a public computer or on a virus infested computer. The device’ developers carefully built it with a combination of security tricks that ensure its user data are kept completely secure and immune to hacks and virus attacks at all times.
TREZOR requires that its users create a 24-word seed in addition to their chosen password during its setup, the interesting side to this is; users can generate this password seed (without an internet connection). This ensures that the 24-word seed remains inaccessible to online third-party software, that makes it pretty safe.
A new TREZOR hardware wallet comes with a USB to micro USB cable, a user manual and a lanyard, and is compatible with most software wallets, which ensures the easy transfer of keys plus smoother transactions.
COMPOSITION AND CURRENCY SUPPORT
The device consists of a display screen and two hard buttons that can be used for transaction purposes. Although it comes fully packed with security features, its user interface is devoid of complexity and easily understandable (Transactions can be made with ease).
TREZOR hardware wallet supports multiple Cryptocurrencies which include but not restricted to Bitcoins, Ethereum, Litecoin, Zcash and Dash.
Summarily, here are the key pros and cons of the TREZOR hardware wallet
|Has a tough security framework (toughest of all hardware wallets).|
|It is compatible with major operating systems such as Windows, Linux and OS X.|
|Has a simple user interface|
|Portable and easy to carry|
|Supports multiple cryptocurrencies|
|It’s set up process is fairly complicated|
|It is incompatible with phones and tablets (non-windows enabled phones and tablets)|
|Limited transaction opportunities|
That’s all for TREZOR, let’s move on to the next wallet in our top 4 best Bitcoin hardware wallets of 2018.
Ledger Nano S (BEST FOR STORING MULTIPLE CRYPTOCURRENCIES)
The Ledger Nano S works almost like the TREZOR. It comes in the shape of a USB flash-drive and requires the presence of its use for any transaction to be confirmed. This is made possible through the inclusion of two hard keys that must both be pushed at the same time by its user before any Cryptocurrencies can be transferred. Buying a Ledger Nano S is a huge step towards totally safeguarding your Cryptocurrencies against hackers.
Like the TREZOR, the Ledger Nano S also requires that its users create a 4 digit pin code on setting up, this is to help users safeguard their coins in events where they lose their devices, as the device will be worthless to a stranger who doesn’t know its 4 digit pin code. Like TREZOR, the user of Ledger Nano S can generate a 24-word seed, your wallet can be recreated through the use of this seed, in an event where it gets lost, stolen or damaged.
The Ledger Nano S is immune to hacks and virus attacks. It is impossible to remotely operate this device as it has a Nano display, which is the only way the 24-word seed can be seen and two hard buttons that must be manually pushed to authorize any transaction. In a tin, you must know the device’ 4 digit pin code and manually push its 2 hard buttons to get anything out of it. This is pretty safe.
Luckily, this device is affordable and worth every penny.
COMPOSITION AND CURRENCY SUPPORT
The Ledger Nano S comes with a portable sleek design, a Nano display screen and two hard buttons for transaction purposes. Furthermore, this hard wallet supports a multitude of cryptos, they include Bitcoin, Ethereum, Litecoin, Dogecoin, RDO U2F, Zcash, Dash, Stratis, Ripple, HELLO, Bitcoin Cash, KOMODO, Ethereum Classic, POSW, ARK, EXPANSE, UBIQ, PMX, VERTCOIN, VIACOIN amongst others. The main advantage this wallet has over its competitors is the number of Cryptocurrencies it supports.
Summarily, here are the key pros and cons of the Ledger Nano S.
|It confirms transactions on display|
|Saves users data to backup sheet|
|Supports multiple currencies|
|No Passphrase Support|
Next, on the list of our top 4 best bitcoin hardware wallets, 2018 is
KEEPKEY (SIMPLICITY REDEFINED)
Keepkey is another hardware wallet that was developed to provide maximum security to its users cryptocurrencies. It comes with a bank-grade security framework like what you see in most traditional banks today, and hence the reason why it makes it to our top 4 best bitcoin hardware wallets 2018. It is itself a mini bank.
This device developer knows the importance of an easy backup system, as it is sure to come in handy in an event where the device goes missing, takes a tumble in a lake or maybe gets swallowed up by a Money swallowing snake as is the case in my country (Nigeria) these days. Furthermore, coupled with its explicit backup system is a powerful security framework that makes it immune to hacks and virus attacks just like TREZOR and Ledger Nano S. and just when you think you have heard it all about Keepkey, then comes the fact that it supports multiple cryptocurrencies and is compatible with Windows, Linux, Mac and ANDROID! Yes, it is compatible with your Android device.
Keepkey is considered a high definition wallet due to the fact that, its users can back up the entire wallet with a 12-key seed by default. However, a user can choose to add more words to strengthen the key to a maximum length of 24 words. The process of generating a seed requires the use of both the device and a computer and as is common with most hardware wallets, its keys are generated in offline mode and displayed on the device screen. The key you generate can also be used for backing up your device, so your coins can be easily retrieved in an incident where the device is lost, stolen or damaged.
Keepkey is built with multiple features aimed at protecting your Cryptos, the features include a hard button to confirm your transactions. However, when compared to TREZOR and Ledger Nano S, Keepkey falls short in the fact that, it is susceptible to phishing attacks since its privacy is greatly dependent on the kind of software wallet you use with it. To tackle this, it is advisable that Keepkey users link with secure software wallets like Electrum, for example, to keep their coins totally secure.
Upon a successful purchase, the device comes with a free pouch, a micro USB cable and an instruction manual. It supports Bitcoin, Ethereum, Litecoin, Dogecoin, Namecoin and Dash.
The following are what you should have in mind when purchasing a Keepkey hardware wallet.
|Secured with a bank-grade security framework|
|Has a display screen|
|Is compatible with Windows, Linux, Mac and Android|
|Supports multiple Cryptocurrencies|
|Has a backup option|
|It is relatively Expensive|
|Larger in size, when compared to TREZOR and Ledger Nano S|
Occupying the fourth position in our top 4 best bitcoin hardware wallets 2018 list is
LEDGER HW.1 (SMALLEST HARDWARE WALLET IN OUR TOP 4)
The Ledger HW.1 is a small hardware wallet, absolutely small (not up to 4 times the size of your sim card) but that shouldn’t fool you, this little guy packs a punch 10,000 times its size and duly deserves a spot in our top 4 best bitcoin hardware wallets 2018. I shall explain why.
This device is highly portable and comes with a multi-signature feature that allows its users to go into transactions that require more than one key. The quality of this device is almost unrivalled as it has been proven to be hack proof and immune to all sorts of virus and malware attacks, coupled with this is a top-notch backup and recovery system to keep its users in control of their Cryptos at all time. Furthermore, it comes in three models, classic, enterprise and Multisig giving its potential users options to choose whichever model better suites their needs. in addition, all models can be upgraded for free. This little device is superb.
The Ledger HW.1 is a high definition wallet just like the rest of our top 4 best bitcoin wallets 2018, it requires the generation of a 24-word key to keeping your Cryptos secure. However, it is different from the rest in the sense that it doesn’t have a display screen. To use it, its users will require the aid of a working pc, this has been a cause of concern for most prospective users, however, very critical steps were taken by its developers to ensure it maintains maximum security. For instance, the process of generating your seed is done with an offline computer, you can confirm transactions on the PC in offline mode as well. Furthermore, to carry out transactions on a PC with a Ledger HW.1 wallet, you must input a four-digit pin. To hack a Ledger HW.1 wallet, the hacker must be in possession of your hardware wallet, a PC, your four-digit pin, and your two-factor authentication card which is very unlikely. This little hardware wallet is truly secure.
The Ledger HW.1 wallet comes with a two-factor authentication card. To send funds, a user must enter the receiving wallet address using this security card, this adds an extra layer of security.
On purchase, the hardware wallet comes with an instruction manual, a security card to be used for two-factor authentication and a Ledger HW.1 device.
Here is what to keep in mind when buying a Ledger HW.1 hardware wallet
|It has a multiple-signature feature|
|It has a multiple-signature feature|
|It has a multiple-signature feature|
|It is affordable|
|Two-factor authentication enabled|
|Doesn’t have a display screen|
|Does not support multiple currencies|
Cryptocurrencies are the future of money as we know it. Investing in them is the first step, making a healthy profit from your investments is another, but what is most important is safeguarding your profits and staying successful. Hardware wallets are to digital currencies as banks are to fiat, their importance can never be overemphasised. The hardware wallets in our top 4 best bitcoin hardware wallets 2018 can be trusted to get the Job done.
They come in different shapes, sizes, prices and functionalities and are worth every penny expended in their purchase, it is only wise to invest in the security of your funds. Get a hardware wallet today, secure your Cryptocurrencies, secure your future.
That’s it for our top 4 best bitcoin hardware wallets 2018, hope you enjoyed reading through. We at Nigeria Bitcoin Community are proud to provide you with all the information you need to stay successful in the financial market, endeavour to check back as we will be providing detailed reviews of the top hardware wallets in the next couple of days.
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Still, think you don’t need a hardware wallet? Here is some historical hack:
- MT.Gox: This is cryptocurrency exchange that was hacked twice in 2011 and 2014. A total of 750,000 BTC (worth 350 million) was stolen. The company declared bankruptcy and users lost their money.
- Bitfloor: In 2012 This exchange lost 24,000 BTC to hackers. They also got shut down and investors lost their money.
- Poloniex: This trading company lost 97 BTC to hackers in 2014. They are still in operation today, but at the time had to reduce all users bitcoin amount by 12.3% to accommodate the loss.
- Bitstamp lost 19,000 BTC (worth $5 million) to hackers in 2015
- Bitfinix lost 120,000 BTC (worth $72 million) in 2016. However, they were able to pay users back slowly over a period of time and regain their trust.
In addition to the above, over 25 exchanges have been hacked in the past leading to investors losing their fund. This is one reason you need hardware wallet.