5 Best Hardware Wallet for Bitcoin and Altcoins [Updated 2020]

Today I am going to show you top 5 best hardware wallet for Bitcoin and altcoins for 2020. These hardware wallets are universally acclaimed and very easy to use. After buying any of them, you can rest assured that your cryptocurrencies are safe and secure. Let’s dive in!

So finally you got to know there’s no other safest option than a cryptocurrency hardware wallet to keep your crypto assets safe and now you’re looking for best hardware wallet options available out there? Then your search ends here.

Today in this post, I’ll be listing best hardware wallet for altcoins and of course bitcoins.

These are multi-cyrptocurrency hardware wallets, which means along with Bitcoins you will also be able to store other cryptocurrencies such as Litecoin, Ripple, Ethereum, Bitcoin Cash and the like by using these hardware wallets.

Despite 2018 cryptocurrency crash, Bitcoin has been gathering universal acclaim and its popularity is increasing day by day. For some it has become an investment tool; though it’s not. It’s a worldwide payment system to allow people do worldwide transactions without the need of any third-party like bank to reduce transaction charges.

It’s grabbed huge media attention back in December, 2018 when it touched record high $20K price but it couldn’t maintain that price surge for long due to media hypes. That time more and more people were desperate to buy Bitcoin and other altcoins.

Those people certainly took a right decision but due to media hypes (probably backed by Bitcoin whales) many newbie investors sold their coins with huge loss up to 80 percent. Many lost their entire life savings.

And this way, 2018 had become catastrophic year for Bitcoin and other cryptocurrencies.

Sale Alert: Hurry Offer Valid Till: 16-07-2020!

Why am I mentioning this?

Just to aware you. Don’t get caught like above mentioned newbie investors. Do proper research before entering and existing.

Let’s come back to the point.

Before I reveal my best hardware wallet picks for 2020, I suggest you don’t miss given information because I added it for your benefit. This might help you to know whether you need a hardware wallet or not.

Table Content:

• What is a hardware wallet?
• Why should I own it?
• What are the alternatives available?
• Which one to choose?
• How to choose a best wallet?
• Best wallets
• Ledger Nano S
• Next generation wallets from Ledger
• Trezor
• Trezor next generation wallets
• Keepkey
• Ledger Nano S vs. Trezor vs. Keepkey
• Conclusion

What is a cryptocurrency hardware wallet?

A cryptocurrency hardware wallet is a physical electronic device that has the capability to store one or more cryptographic assets in an isolated space. Hardware wallet lets the user store, send and receive cryptocurrencies without exposing wallets’ private keys to the internet.

Since hardware wallets store private keys offline (cold store) therefore there’s almost no chance to hack a hardware wallet without having physical access. Also, hardware wallets come with back up recovery seed that can help a user to regain access to his wallets or coins if he loses his hardware wallet.

If you lost your Bitcoin hardware wallet then you can buy a new one and can restore your wallets to that by using your secret phrase (which you get at the time of setting up your hardware wallet). Or you can restore your wallets to other supported software wallets.

Why should I own a Bitcoin hardware wallet?

It is not a wise decision to keep your Bitcoins or other altcoins on an exchange or a hot wallet because all Bitcoin exchanges are highly vulnerable to cyber attacks. We have seen how prominent cryptocurrency exchanges like South Korean Bitcoin exchange Youbit and Binance (who lost $40 million worth of cryptocurrencies) got hacked.

Also, there are some chances that your exchange may run away with your coins.

As of now, hardware wallets are the safest way to store Bitcoins and other cryptocurrencies. Till date there’s no single case of fraud has been recorded from the hardware wallets.

Even some renowned cryptocurrency exchanges suggest customers to move their cryptocurrencies to a paper wallet or a best hardware wallet.

If you’re concerned about safety of your Bitcoins and altcoins and seeking a reliable way to keep them safe then this is the thing you need.

As discussed above, hardware wallet stores your private keys offline therefore your private keys and coins will remain be intact if you use it on a malware infected computer.

Hardware wallets store your private keys safely and let you protect them with a PIN so nobody else can access your hardware wallet.

Industry experts advice that we should never store our private keys on a device that connects to the internet. If you’re doing so then your digital assets’ private keys can be accessed by cyber-criminals and you can end up losing them all.

Bitcoin hardware wallets not only help you store your coins, these also let you send and receive them.

You can create multiple addresses on your hardware wallet. These physical devices also let you store other cryptocurrencies like Litecoin, Ethereum, Ripple, Bitcoin Cash, Dash and the like.

What are the Bitcoin hardware wallet alternatives available?

There are some alternatives available for example paper wallet, mobile wallet and software wallet. These options are also safe but not equal to hardware wallet.

What is a paper wallet?

Bitcoin paper wallet is nothing just a piece of paper that contains a Bitcoin public wallet address and private key. You use a web client (Bitaddress is a known Bitcoin paper wallet generator and MyEtherWallet, Ethereum paper wallet generator) that uses a special JavaScript program to generate a Bitcoin wallet.

Since the program can run without the internet therefore you can generate Bitcoin wallet or paper wallet offline. Paper wallets are more secure than online wallets and web wallets.

Those who cannot afford hardware wallets can use paper wallet or software wallet to store their cryptocurrencies. In a separate post I’ve explained how to generate and move Bitcoins to paper wallet.

Before that you should know that paper is a fragile thing and requires extra care. Personally, I don’t recommend it if you can survive with your coins for up to three months.

What is a software wallet?

Software wallet such as Electrum lets you store your private keys onto your computer. This method of storing Bitcoin and altcoins offline is recommended if you have a spare personal computer which you are not going to connect to the internet.

Which one to choose: paper wallet, software wallet or hardware wallet?

Once someone understands that cold storage (storing Bitcoins or altcoins offline using paper wallet or hardware wallet) is the best way to protect his/her Bitcoins or altcoins then next question pops up in mind that, ‘Which one to choose: paper wallet, software wallet or Bitcoin hardware wallet?’

The answer is very simple. Choose hardware wallet if money is not the issue or you indeed acquire significant amount of Bitcoins or altcoins like Litecoin, Ethereum, Ripple, Bitcoin Cash etc. There are some best hardware wallet available at very low price.

On the flip side, if your Bitcoin or other cryptocurrency investment is not that much then opt paper wallet or software. Paper wallet is also a secure way to store Bitcoins offline.

You can read how to transfer Bitcoins to a paper wallet to know how to cold store Bitcoins using paper wallet.

Software wallet is also a very safe bet if you have a spare computer that you would not be using for any other purpose than storing your private keys.

Long term HODLers or investors should opt Bitcoin hardware wallet to store Bitcoins safely. Though a Bitcoin hardware wallet costs you about $60-$120 but it keeps your cryptocurrency secure and safe.

How to choose a best hardware wallet?

While choosing a Bitcoin hardware wallet, you should consider simplicity, security, and features. Your Bitcoin hardware wallet should support other cryptocurrencies like Litecoin, Ripple AKA XRP, Ethereum, Bitcoin Cash, Litecoin and the like.

This way you will be able to store your other coins to your hardware wallet which will make your wallet investment cost effective.

User reviews is a best way to know highs and lows of a product. So read reviews of a Bitcoin hardware wallet on different websites.

Don’t come on a decision after reading reviews from only one site because nowadays some cunning companies deliberately create positive reviews to boost their sales so to pick a best hardware wallet for your altcoins and BTC read reviews from as many as websites you can.

Hardware wallet should be compatible with all devices say it Mac, Windows, Linux or Android.

Best hardware wallet for Altcions and Bitcoin

I’m listing these best Bitcoin hardware wallet options by emphasizing on safety, ease-of-use and Altcoin support.

Ledger Nano S

Buy Ledger Nano S from official Ledger website.

Ledger Nano S belongs to a France based company. Ledger Nano S is one of the best Bitcoin hardware wallets available out there. With no time it’s become first choice of Bitcoin and cryptocurrency investors.

Easy interface, unbeatable security, and multi-coin support are some of its key features that are grabbing attention of buyers. They’ve sold more than 1.4 million hardware wallet units worldwide which is a good score if we see total population of people who invest in cryptocurrency.

The device has OLED built-in display to check and authenticate transactions. Ledger Nano S completely isolates your private keys by storing them into a secure element microchip.

You can add up to 8 digit PIN to lock this device. If you ever lost your Ledger Nano S then you can easily restore your wallets to another device by using recovery phrase and no one could misuse your lost or stolen device because it’s PIN protected.

You can make secure transactions even on an infected computer because Ledger Nano S does not ask you to enter personal details such as PIN on your computer.

You have two buttons on the side for navigation purpose. The battery-less device can be connected to a mobile or desktop via USB cable. Here is complete review of Ledger Nano S.

Currently, Ledger supported coins list is very large, it supports more than 1100 coins and tokens including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ripple, Litecoin, Dash, Zcash, Neo and ERC20 tokens.

The device will cost you $69 or ₹4800. If you’re going for it then make sure to buy it from official website of Ledger Wallet.

Ledger Nano S Details:

• Price – $69 or ₹4800 with free shipping.
• Specifications– OLED display, two buttons for navigation, 16.2g weight, USB connector, stainless steel and plastic material.
• Compatibility– Windows (7+), Mac (10.8+), Linux or Chrome OS. Dedicated Ledger Live application.
• Supported Cryptocurrencies– Bitcoin, Bitcoin Cash, Bitcoin Gold, Ehtereum, Ethereum Classic, Litecoin, Dogecoin, Zcash, Ripple, Dash, Stratis, Komodo, Ark. Expanse, Ubiq, Vertcoin, Viacoin, Neo, Stealthcoin, Stellar, Hcash, Digibyte, Qtum and more.

Know how to buy Ledger Nano S from its official website.

Next generation hardware wallets from Ledger

Ledger has recently introduced its next generation Bitcoin hardware wallet, Ledger Nano X. It’s a successor of Ledger Nano S with a bunch of new improvements such as Bluetooth connectivity and touch display. Similarly, Ledger Blue is also a very famous product of the company.

Ledger Nano X – Next generation hardware wallet

Ledger Nano X gathered universal acclaim due to its latest features and large storage capacity, up to 100+ coins. This device has the capacity to store your cryptographic assets as secure as possible. Along with physical connectivity device can be connected with Bluetooth encrypted connection.

Its state-of-the-art technology stores your cryptocurrencies securely and at the same time lets you send and receive coins without exposing your private keys to the internet.

You can store all prominent coins using this device. Compared to previous model, you will also find some design improvements.

It costs almost double ($138) the price of Ledge Nano S. But still it’s a worth buying product due to its latest features and storage capacity, compared to Ledger Nano S. Without any second thought, it’s a best hardware wallet.

Check out Ledger Nano X Now

Trezor One

Buy it from official Trezor wallet website.

Talking about best Bitcoin hardware wallet then how can we forget Trezor One, the first and still the best Bitcoin hardware wallet?

This is the first hardware wallet company and first choice of buyers who do not care about price. Trezor by SatoshiLabs is a safest bet for those who prefer security over price. I’ve recently reviewed Trezor One hardware wallet.

I am regularly using this device as a U2F security key for my online social media and Gmail accounts.

The cost of the device is bit high but when we see its background and security features then the price does not hurt. The multi-coin hardware wallet offers you a secure and trusted way to store Bitcoins and altcoins locally.

9 digits security PIN and 24 words recovery seed ensure safety and recovery if you lost your device.

The Trezor’s design is not that compelling but it’s been in the business for a long time and has a good track record. You’ve a small display and two buttons (underneath the display) on the front. You can easily connect it to your computer or Android mobile.

Trezor has two famous models: Trezor One and Trezor Model T. You’ll need to spend €69 or $76 or ₹5411 to own Trezor One and €149 or ₹11000 or $165 for Model T.

Above both models have same security features but Trezor Model T comes with some extra features such as touch display.

Trezor One Details:

• Price– €83 or $94 or ₹6450.
• Specifications: 128×64 pixels OLED display, two buttons for navigation, 12g weight, USB connector.
• Compatibility– Windows, MacOS, Linux, Android Mobile.
• Supported Cryptocurrencies– It supports more than 1000+ coins and tokens including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ehtereum, Ethereum Classic, Litecoin, Dogecoin, Zcash, Dash, Expanse, Ubiq, NEM, ERC-20 Tokens, Namecoin, Bitcoin Testnet and the like. Get complete Trezor supported coins list here.

Trezor next generation wallets

Trezor Model T – Next generation hardware wallet

The Trezor Model T is a CE and RoHS certified next-generation device. It comes with USB type-C connector. ARM Cortex-M4 168Mhz processor running on a custom developed system makes it one of the safest hardware wallets out there.

Its Passpharse feature lets you add 25th word to your recovery seed. Passpharse adds an extra layer of security to your device.

It’s a bit expensive device but a best hardware wallet option and worth considering. You will need to spend $202 to own this device.

Check Out Trezor Model T Now

Keepkey

Keepkey is another Bitcoin hardware wallet to store Bitcoins and other cryptocurrencies safely. It indeed has an elegant design. Large display helps you read screen instructions easily.

Keepkey Bitcoin wallet size is almost twice the size of Ledger Nano S and Trezor. The price tag is a bit higher than other hardware wallets; however, the size, as compared to other wallets, justifies its price.

Due to its size, it is not suitable for those who want to carry it with them. A few Bitcoin enthusiasts have shown interest in this device.

Currently, it supports only 7 digital assets like Bitcoin, Ethereum, Litecoin, Dogecoin, Namecoin, Testnet, and Dash; which is a big drawback. But the company is actively working to add more cryptocurrencies support.

The security features are like other hardware wallets, therefore, it can store your coins safely.

The price and size are the issues otherwise it is a good deal. You can enable PIN on this device to prevent unauthorized access. Its micro-controller limits the access of external devices to keep your private keys in a secure environment.

Though the device supports limited digital assets but it comes at the third place when we think of Bitcoin hardware wallets.

As mentioned in the beginning, read reviews to know whether this device worth buying or not. You can buy KeepKey from its official website.

Keepkey Details:

• Price– $79 or ₹5557 excluding delivery charges.
• Specifications– 256×643.12 pixels OLED display, metallic body, one button.
• Compatibility– Windows, MacOS, Linux, Android Mobile.
• Supported Cryptocurrencies– Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Namecoin, and working to adding more.

Ledger Nano vs. Trezor vs. Keepkey

Conclusion

As of now, you cannot find a better way to keep your coins safe than a hardware wallet. A hardware wallet costs you money but in returns it keeps your digital assets in an isolated and secure environment.

In my opinion, if you have coins to survive for three months then it’s worth buying a Bitcoin hardware wallet.

Out of these best Bitcoin hardware wallet options Ledger Nano S is an affordable and secure wallet. Similarly, Trezor is not less than Ledger Nano S. Trezor comes with passphrase feature (this feature lets you add 25th word to your recovery phrase) that helps it stand out of the crowd.

Which hardware wallet did you like the most? Let me know your preference. BTW I’ll go for Ledger Nano X.