In recent years, cryptocurrencies have gained a lot of popularity, with Bitcoin leading the way. As more people invest in cryptocurrencies, the need for secure storage solutions has become increasingly important, especially after the events of 2022.
For those who are new to crypto, I will briefly point out here, that in late 2022 we witnessed the collapse of one of the biggest crypto exchanges FTX, which caused losses to millions of users, amounting to several billions dollars’ worth of crypto assets that are not likely to ever be recovered.
This is not the only problem that crypto users have faced throughout the years.
Hacks are a very common occurrence too. I dedicated this post entirely to the numerous hacks on crypto exchanges, hot wallets and DeFi platforms, with over 80 examples of large scale theft of crypto assets. And this is not all. Custodial wallets, such as exchanges, are also a target of government oversight and some of them, like Coinbase for instance, have been reported to be freezing customers assets for various reasons. Since they hold the private keys to your wallets, they are at liberty to do as they choose. With you own money.
This is why I dedicate this post to the importance of using cold storage (hardware wallets) for your crypto assets and I will rank the top 10 crypto wallets, many of which I am currently using or have used in the past.
Let’s start with the key points:
What is a cold wallet?
A cold wallet is a type of cryptocurrency wallet that stores your private keys offline. This makes it much more secure than a hot wallet, which is connected to the internet and is vulnerable to hacking and theft. A cold wallet doesn’t have to be a physical device, it can also be a piece of software that you use on your computer and only connect to the web when you need to execute a transaction (examples: MEW, Exodus, Atomic), or it could even be a paper wallet and I did a tutorial on how to create a paper wallet yourself in this post.
However, today my focus is on hardware wallets and the ones that I find to be most secure and user-friendly.
Why use a hardware wallet over other cold storage solutions?
When it comes to storing cryptocurrencies, it’s important to take security seriously. Software wallets like Exodus, Atomic, MEW and others are good for quick access, some of them are also available on mobile (see my post on Mobile Wallets) but a hardware device takes your security a step further as it not only gives you complete control over your private keys, but also prevents you from any hacks on your computer or mobile phone, which is where software wallets show vulnerability. With the hardware wallet device, even if your computer is compromised, you still have to approve any transaction on the actual device, so you can double- and triple-check the address and the amount that you are sending and no one can forcefully make the transaction without that device. The one thing to definitely keep offline though, is the seed phrase that you create when first setting up that device. Remember that for later. You will know what I mean when you start using any of these.
Now, let’s discuss the top devices on the market today and in a few brief words, what I like about them:
Trezor Model T
The Trezor Model T is the most popular cold wallet that offers a wide range of features and supports well-over 1600 cryptocurrencies. It features a touch screen display, biometric authentication, and a user-friendly interface. The device also includes advanced security features such as a passphrase option and multi-factor authentication. It’s the first device that doesn’t use a SE. Trezor is in the top 2 most used and trusted cold wallet makers, so this is always a good choice.
It’s worth noting that while the Trezor Model T supports a wide range of coins and tokens, not all cryptocurrencies are supported directly by the device. Similar to Ledger, in some cases, users need to use third-party software or services to manage their cryptocurrencies on the Trezor Model T. It’s always a good idea to check the Trezor website for the latest information on supported coins and tokens. I own the Model T and have been using it since it was launched, but it’s a dormant storage, meaning, I only keep BTC and ETH there and have not moved any of them for years.
Seed Phrase Capacity: 12 words.
Order yours today from here: https://shop.trezor.io/product/trezor-model-t?offer_id=15&aff_id=3574
Keystone is the most secure device I own due to being air-gapped (meaning, there are no ports, thus eliminating all risks). It’s a newer brand on the market that offers advanced security features such as biometric authentication and Touch-to-Open functionality. It supports a wide range of cryptocurrencies and offers a user-friendly interface. Keystone is also built on the latest Secure Element Technology, providing a high level of protection against hackers, using a unique secure element called the Keystone Enclave. It features a secure boot process that ensures that only authorized firmware can be loaded onto the device. It also uses hardware-based encryption and decryption to protect the private keys from software-based attacks. All operations are done via QR codes that transmit data between the device and the mobile app used to navigate it. It also has a self-destruct mechanism in case of forced entry (available on the Pro model).
What I particularly like about the Keystone Pro model, is that it comes with a battery pack, so it can be used with regular AAA batteries, which means that even if the original battery dies after a few years, I can still use the device and I don’t have to buy a new one. This is not the case with most other devices that have internal battery.
Seed Phrase Capacity: 24 words.
This is on top of my list of devices I use and you can get it with a discount using the coupon “CRYPTOCORNER” (apply code at checkout) from their website: https://keyst.one/
This is another new player in the cold wallet market, but it has quickly gained popularity due to its unique features and robust security measures. The OneKey wallet supports a really wide range of cryptocurrencies and features a sleek and modern design.
One of the standout features of OneKey is its dual-chip architecture, which separates the wallet’s private keys and communication functions onto two separate chips, providing an extra layer of security. The device also includes a fingerprint scanner for biometric authentication, making it easy and secure to access your digital assets. In addition to its advanced security features, OneKey also offers a user-friendly interface and supports multi-currency accounts, making it easy to manage all of your digital assets in one place. The device can also be connected to a smartphone or computer via USB or Bluetooth, providing additional flexibility for users.
I recently reviewed the OneKey Classic and OneKey Touch devices, which are now my favourite for frequent, day-to-day use. The Classic is super-light and thin, it’s the size of a credit card and very inconspicuous. Price-wise, it’s definitely the best value for money. The Touch model is their flagship model and has even more functionality, it’s the first true-colour display wallet for NFTs as well as DeFi transacting, token swaps etc. Right now OneKey supports over 30 different blockchains (all major ones) and thousands of tokens. The full list of supported coins and tokens is available on the OneKey website.
Seed Phrase Capacity: 24 words.
Get your OneKey device with my special discount from this link: https://shop.onekey.so?sca_ref=3410754.wBalVoOPyw
I own the SecuX V20 – by far the bulkiest device in my collection, but that was the point. While most of my other devices are quite tiny, I wanted one that is large and fits well in my palm for more frequent usage. They offer several hardware wallet models, including the SecuX V20, W20, and W10. Each model features a sleek and compact design and supports a wide range of cryptocurrencies.
All SecuX wallets offer advanced security features, such as a secure chip and PIN code protection, to keep your digital assets safe. They also feature a large touch screen display and an easy-to-use interface, making it simple to manage your cryptocurrencies. Like with all other devices listed here, you navigate your wallets via a mobile phone app and the device is only needed when sending crypto, to approve the transaction. You can check your accounts or receive crypto without needing the device, as long as you have your wallet address handy.
The wallets use a secure element (SE) microcontroller to store private keys, which provides a high level of protection against physical and software-based attacks. The SE is certified with the Common Criteria EAL5+ and FIPS 140-2 Level 3 security standards, which are widely recognized as the industry standards for hardware security. In addition to the SE, SecuX wallets also use advanced encryption algorithms to protect private keys from unauthorized access or tampering.
SecuX devices support 1000+ cryptocurrencies and tokens, to find out the full list of these, go here.
Seed Phrase Capacity: 24 words.
Order yours today from this link: https://shop.secuxtech.com/discount/SecuX-Affiliate-XPO465?aff=83
This is another respected cold wallet that offers a unique design and advanced security features. While it may not be as well-known as some of the other cold wallets on the market, it is just as good.
One of the standout features of Ellipal is its air-gapped technology, which provides a completely offline storage solution for your digital assets. The device also features a large touch screen display, making it easy to use and manage your cryptocurrencies.
It is fully metal sealed and built with no online components or ports. Its special anti-tamper technology protects your crypto against physical and supply chain attacks. The system will delete every data when it detects a breach.
Ellipal Titan is embedded with an independent security element that provides an extra layer of protection against potential attacks. Additionally, it has several hardware-based security features such as anti-tamper technology and independent security element that provide an extra layer of protection against potential attacks
Ellipal supports 51 Blockchains and 10,000+ Tokens as of 2023. You can find the full list of these on their website.
Seed Phrase Capacity: 12 words.
To order yours today, go here: https://www.ellipal.com/?rfsn=7256823.3aea8c9
Safepal is a hardware wallet manufacturer that offers the Safepal S1 and S1 Pro models. I do not own any of them, so I have no personal experience to share, but some of my friends use them.
Like most other devices I listed here, Safepal wallets use a combination of hardware and software security features to protect private keys from unauthorized access or tampering. The devices feature a tamper-evident, drop-resistant case and a secure boot process that ensures that only authorized firmware can be loaded onto the device.
Firmware security: SafePal S1 is embedded with firmware verification program that examines the genuineness of every uploaded firmware. The device only runs official firmware released through SafePal official website. If there is any malicious firmware loaded to the device, the device will show warnings. It is recommended to always download a SafePal firmware from the official website
The SafePal S1 is compatible with over 10,000 cryptocurrencies and tokens, you can see the full list of those on their website.
Seed Phrase Capacity: 24 words.
Get your own SafePal device with this link: https://fas.st/t/fbfFysos
The BitBox02 is a hardware wallet that is made in Switzerland and is designed to be really simple and easy to use. The BitBox02 is also open-source, which is always an advantage.
Here are some of the security features of the BitBox02:
- Anti-klepto protocol: The BitBox02 is the first hardware wallet that offers protection against the nonce covert channel attack by supporting a protocol called anti-klepto. This attack can leak a private key via malicious transaction signatures.
- Secure chip: The BitBox02 features a dual chip design with a secure chip, the ATECC608B, to harden the user-chosen device password, which encrypts the wallet seed stored on the MCU.
- Open source code: The source code of the BitBox02 has been independently audited by security researchers and is fully open source.
- Limited firmware: The firmware of the BitBox02 only supports Bitcoin, which means less code and less attack surface to improve security when holding your bitcoins.
- Encrypted communication: The communication between the hardware wallet and your computer is encrypted, which prevents evil maid and man-in-the-middle attacks.
Overall, the BitBox02 is designed with state-of-the-art security features by experts and is praised for its ease of use and advanced security features packed into such a lightweight device.
It’s a very compact device – the size of a USB stick and currently provides support for 20 different blockchains and over 1500 ERC20 tokens. The full list of supported coins and tokens is available on the Shift Crypto website.
Seed Phrase Capacity: 24 words.
To order your BitBox02, use this link: https://shiftcrypto.ch/bitbox02/?ref=EJVCiDGlPt
The Tangem Wallet is one that deserves a lot of praise. It is the most affordable and easiest way to store crypto without the risk of being hacked and the biggest advantage to this one, is that there’s no seed phrase to worry about. It is arguably the most secure and easy-to-use cold storage wallet and is resistant to fire, water, x-rays, electromagnetic pulse and mechanical damage.
The Tangem Wallet is basically a set of two or three cards that look like bank cards and fit easily into your wallet or card holder. When you activate the wallet, the chip in the card generates a random private key that is stored on the card and not exposed to anyone, including Tangem. These cards are also IP68 rated so dust, water, heat and cold cannot disrupt their functionality. Operating conditions from -35 to +85 degrees Celsius.
The card is used each time you need to make transactions, and you don’t provide the key to third parties. The Tangem Wallet is designed to be secure without relying on a seed phrase. You can connect up to three cards to one wallet, so you’ll always have a way to use your wallet if your main card is lost, stolen, or damaged. The Tangem Wallet allows you to buy and sell cryptocurrencies using Apple Pay, Google Pay, and credit cards.
Currently Tangem supports 24+ blockchain networks and 6000+ tokens and represents the highest coverage by the number of assets.
Additionally, it has access to hundreds of decentralized services, which allow trading on exchanges, issuing loans, borrowing funds, working with NFTs, and much more. It’s really a great choice for anyone who wants secure, lightweight and easy to use device.
Seed Phrase Capacity: N/A This device does not generate a seed phrase. This begs a question: in years to come, what if the company goes out of business and stops updating the mobile app? I use this for day-today transacting only. It is not my top choice for long-term solution.
Order this device with my special discount from here: https://tangem.com/en/?promocode=CRYPTOCORNER
Ledger Nano X
Before I explain about this device, I want to say that the reason I have it at the bottom of my list, is the most recent upgrade that Ledger added to its Nano X device: a seed recovery functionality, that at face value seemed like a great thing. Looking deeper into that firmware upgrade, it became clear to many, that this effectively creates a backdoor, that would allow a remote extraction of your seed phrase from the device. When done in good faith, it can help millions of customers who might lose their seed phrase, but what if a rogue actor decided to exploit this for malicious purpose? The question remains if the privacy and security of users wallets might be at threat in the future and most of the crypto OGs I know have been very vocal against this upgrade. For that reason, I no longer recommend this device although, it’s still top of the range and the market leader.
The Ledger Nano X was first launched in 2019 and supports over 1800 cryptocurrencies and allows users to store and manage their digital assets with ease (although, some of these require a third party software). The device features Bluetooth connectivity and an intuitive interface, making it easy to use. It also includes advanced security features such as a secure element (SE) chip and PIN code protection. The SE chip is built with advanced hardware and software security features, such as secure boot, secure storage, and anti-tampering measures, to ensure that the private keys stored on the device cannot be compromised and also supports multiple cryptographic algorithms, including Elliptic Curve Digital Signature Algorithm (ECDSA), which is used to sign cryptocurrency transactions. With its high level of security and support for multiple cryptographic algorithms, the Ledger Nano X security chip provides a reliable and secure platform for managing cryptocurrencies.
It’s super-compact, one of the smallest devices on the market, making it easy to hide (but also easy to lose) and that also means that its capacity is limited. On average, it can store about 10-12 crypto wallet apps, so for a larger portfolio you will need more than one of these. I own both the Nano X and the older model Nano S but they’re not among my frequently used devices and I am slowly moving away from this brand.
However, should you wish to use Ledger, the Nano S model does NOT currently support the controversial firmware upgrade, so it becomes the more-preferred choice for the moment.
Seed Phrase Capacity: 24 words.
You can get it here: https://bit.ly/ledger-nanoS
🚩Subscribe to my bi-weekly Crypto Corner Newsletter and get the latest news and market analysis straight in your inbox.
🔒Brave Browser – earn crypto and browse the web faster and safer with the top privacy browser (better than Chrome).
💢NFT Domains – no yearly fees and censorship-free with Unstoppable Domains: https://unstoppabledomains.com/?ref=46122235f05f405
🏆Token Metrics has the most detailed statistics and analysis for all major cryptocurrencies and price predictions to help you find the right coins to trade and the right time to buy/sell – give it a try and get 10% discount.
🔑BEST CRYPTO WALLETS & TOP CRYPTO EXCHANGES: https://linktr.ee/cryptocorner
🚩OTHER TOP CRYPTO SERVICES: https://ojjordan.com/resources
💻Find me on:
🔹My Official Website: http://ojjordan.com
⚠️ DISCLAIMER ⚠️
The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this post reflects solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.
Metamask Is Tracking Your IP and Wallet Address…
CRYPTO CORNER EPISODE 558 Market Analysis, Updates, News & Reviews In today’s episode I discuss the latest hot topics in crypto: ►Metamask Controversy – Is your Wallet Addy being Linked To Your IP Address? ►How To Earn Bitcoin using the Bitget Launchpool (4 days left only, hurry up) ►Win A Hardware Wallet Device from Keystone…
xSeed Plus Review – Best Storage For Your Seed Phrase For Any Wallet
CRYPTO CORNER EPISODE 449 Market Analysis, Updates, News & Reviews In today’s episode I review my latest purchase – the metal back up for my seed/mnemonic phrases by SecuX. This is a complete kit containing: 3x Stainless steel plates1x Aluminium plates1x Metal letter stamps A to Z1x Engraving pen2x Fraudproof security stickers1x Plate Holder (leather…
My crypto wallet got hacked. All funds gone.
After being in crypto for the last 5 years, today I found out that I became a victim of a cyber attack. A wallet hack to be more precise. I haven’t used my Exodus wallet in many months, possibly more than 8 months actually, so I had a bit of a shock today, when I…