Hardware Wallets
A hardware wallet stores the user's private keys in a secure hardware device offline. To date there have been no verifiable incidents of Bitcoins stolen from hardware wallets.
Hardware Wallets have major advantages over standard software wallets:
• private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext
• immune to computer viruses that steal from software wallets
• can be used securely and interactively, as opposed to a paper wallet which must be imported to software at some point
• much of the time, the software is open source, allowing a user to validate the entire operation of the device
Once your cryptocurrency holding becomes subtancial, it is reccomeneded to store your coins offline on a hardware storage device.
The three most popular and realiable hardware wallets in the market place:![bitcoin-vault.jpg]
- Ledger Nano S
- Trezor
- Keep Key
All three wallets are very similar in the way that they handle security.
The main difference is that the Ledger Nano S uses two secure elements/chips, while the TREZOR and KeepKey are essentially small computers.
All three devices have screens, which means they can be securely setup and used even on computers infected with malware.
Price:
• Ledger Nano S – €58
• Trezor – €96
• Keep Key – €96
These prices could vary and do not include shipping.
Coin Compatibility
• Ledger Nano S – Bitcoin, Ethereum, Ethereum Classic, Ripple, Litecoin, Dogecoin, Zcash, Dash, Stratis, Monero
• Trezor – Bitcoin, Ethereum, Ethereum Classic, ZCash, Litecoin, Namecoin, Dogecoin, Dash and Testnet
• Keep Key – Bitcoin, Etheruem, Litecoin, Dogecoin, Dash, Namecoin
It is important to note that all three companies continue to work hard and offer more coin compatibility and support as time goes on. Currently, Ledger Nanos S offers more coin support for almost half the price.