10 Best Hardware Wallet Reviews & Comparisons 2023
Choose the best Hardware wallet for cryptocurrency Ledger, Ngrave, Trezor, BitBox, KeepKey, and Keevo…
A good crypto hardware wallet is essential for many of us. Aside from helping us feel more connected to our funds, hardware wallets keep us safe and give us peace of mind when using digital currencies.
My mission for the past few years is to help people understand cryptocurrencies and keep them safe when using them. A hardware wallet is one of the most essential components in securing your cryptocurrency.
If you’re looking for one, you will want the best hardware wallet for the crypto you can find.
Read through this guide to understand the difference between the different wallet providers. If you are in a hurry to find the best your money can buy, you’ve also come to the right place.
What are hardware wallets?
The short of it is that hardware wallets are portable devices that give us secure access to our crypto. They function by generating a user’s private keys in a secure, offline environment while featuring an easy-to-use display. They usually connect via USB or Bluetooth to internet-connected devices like your computer. A separate screen on the wallet is used to verify and approve transactions to help prevent the disclosure of sensitive information to the internet-connected device. This combines to be very handy as you don’t have to worry about a computer being compromised.
Aside from security advantages, a hardware wallet also gives users tactile control over their funds. To many, having their funds in their hands is a familiar feeling paramount for adoption.
There are just a few hardware wallets on the market, yet still, it may be challenging to choose the right one for you. I have put together these top four hardware wallets for cryptocurrency to help you save time and money experimenting.
We chose to highlight the six hardware wallets NGRAVE ZERO, BitBox, Ledger Nano X, Trezor Model T, Keevo, and KeepKey. They all have different features and attributes that may make one more suitable for your objectives.
Below are the 8 best Bitcoin hardware wallets going into 2023.
#1 NGRAVE
NGRAVE is a new competitor on the scene. The company was incubated by one of the top leading security research firms in the world, imec. Dubbed the “coldest wallet” in the industry, the device doesn’t allow you to connect to the internet in any way. Rather than using a USB port or Bluetooth, the ZERO uses one-way QR code communication to relay information to connected devices while staying offline. All of this means that you will never have to worry about compromised software.
Another great feature is that the NGRAVE Zero also comes with their “Everlasting Backup” for your seed phrase. These stainless steel sheets are fire-resistant, water-resistant, and ‘recoverable.’ This makes storing your seed code a breeze compared to other wallet providers that only include paper to back up your seed.
Pros: NGRAVE exemplifies end-to-end product thinking. Unique “cold” design means it cannot be compromised digitally and that you never have to worry if your hardware wallet’s software is okay. Great for people who want complete peace of mind about their crypto funds and especially for those that travel often with their devices. Includes stainless sheets right out of the box to simplify the proper storage of your seed phrase.
Cons: This is a new company with its first major product. With IMEC behind them, you can expect great security, however, community support may take some time to catch up.
#2 Ledger Hardware Wallet (Amazon Link)
The Ledger Nano X, from a France-based start-up company, looks like a typical USB thumb drive except with a steel shell. The device can be connected to any mobile device or personal computer with a USB or Bluetooth.
Bluetooth connectivity and mobile support are major upgrades that the Ledger Nano X has over the Ledger Nano S.
The device supports over 30 cryptocurrencies including Bitcoin, Ethereum, Dash, Litecoin, Tron, and more. This is the most popular hardware wallet to date — aided in part by Ledger’s huge marketing effort over the years.
Pros: Ledger is the most popular hardware wallet provider. The wallet allows you to store many different cryptocurrencies. There is a lot of community support in the form of software integration that uses a ledger to directly transact. These include many new decentralized exchanges. The device is constantly updated with new software.
Cons: Interference layout makes it so that setting up or rebooting your wallet takes a considerable amount of time. The added mobile support is great but its main improvement, Bluetooth functionality, is far from being smooth. Many software updates affect user experience: often introducing lag & wallets that are not always immediately compatible. Only company to incorporate Bluetooth connectivity. While security concerns have not been substantiated, Bluetooth is looked on by the industry with suspicion as possibly introducing another attack vector.
You can learn more about the Ledger Nano X and other Ledger products here.
Also, read our comparison of Ledger Nano S vs X
#3 Trezor Hardware Wallet (Amazon Link)
The Trezor Model T is the latest developed by Satoshi Labs which was the first hardware wallet provider of note in the world. The Model T is different from other wallets in that it features a touchscreen interface. The Trezor wallet allows you to store countless cryptocurrencies including Bitcoin, Dogecoin, Namecoin, Dash, Ethereum, and more.
Pros: Supports many cryptocurrencies. Allows conversion to fiat currency. In the wallet, exchanges have many functionalities including atomic swap and fiat exchange.
Cons: Pricey. The Model T is an upgrade in user interface but not much else from the Trezor One. It is almost 3 times as expensive as the less feature-rich but equally functional competitors.
You can learn more about the Trezor wallet here.
Also, read our comparison of Ledger vs Trezor
#4 BitBox02 Hardware Wallet (Amazon Link)
BitBox02 is a great tool for individuals to store, protect, and transact cryptocurrencies easily. Its companion, the BitBoxApp, provides an all-in-one solution to securely manage your digital assets with ease.
The hardware wallet looks like a small USB-C thumb drive, and the display is not visible when it is powered off. With its small form factor and no visible screen when powered off, the BitBox02 is a very discreet device, inheriting the classical Swiss values of quality and privacy. Everything you need is included: a regular USB adapter, a USB extension cable, a microSD card for the backup, some lanyards, and stickers. Optionally, you can also get additional microSD cards for backup redundancy.
According to Shift Crypto, the BitBox hardware wallets have been available since 2016 and have been sold in over 100 countries.
It also has features for advanced users. The BitBoxApp offers an easy connection to your own Bitcoin full node, providing additional privacy because nobody else (not even Shift Crypto) will learn about your transactions. The “coin control” feature is important for users that use a coin-join wallet like Wasabi or Samourai, otherwise, they wouldn’t have control over what coins are selected to use in a transaction. And the BitBox02 is also compatible with the Bitcoin wallet Electrum and MyEtherwallet, so power users can use their favorite tools directly with added hardware security.
The secure dual-chip architecture is a unique feature that addresses issues regarding transparency and physical protection of other hardware wallets. The BitBox02 uses a secure chip for physical device hardening in combination with fully open-source firmware, which neither Ledger (closed-source firmware) nor Trezor (no secure chip) can provide. Shift Crypto also has a transparent threat model that explains what attacks their products protect against, and which are considered out of scope.
5. Cypherock X1 Wallet
Hailing as the world’s safest crypto hardware wallet, Cypherock X1 vault has undergone rigorous security audits by KeyLabs and meticulous scrutiny by WalletScrutiny. KeyLabs, a renowned security firm, has previously unearthed vulnerabilities in Ledger and Trezor hardware wallets, emphasizing Cypherock X1’s commitment to top-notch security.
Comprising 5 components — 1 X1 Vault and 4 X1 Cards, Cypherock X1 introduces a different approach to crypto security. The X1 Vault boasts a dual-chip architecture, ensuring offline computation and verification, comes with an OLED display and joystick for seamless transaction verification and signing offline. The 4 X1 Cards, NFC-based smartcards with EAL 6+ secure elements, match the security standards of your bank’s credit card. Simply tap any 1 out of the 4 X1 cards onto the X1 vault to initiate a transaction.
Cypherock X1 employs Shamir’s Secret Sharing to eliminate the single point of failure concerning private key security. The crypto private keys are decentralized into 5 cryptographic parts, securely stored in 5 tamper-proof hardware components (4 X1 cards and 1 vault device) each of which is additionally protected by a PIN set by the user. You need any two out of the 5 components to access your assets. Unlike other wallets that store your Crypto private keys in a single place, Cypherock X1 is the 1st and the only wallet that stores your Crypto private keys in a decentralized way making it 10x more secure than any other wallet in the World. Hence, losing one or two components won’t compromise your funds. It also does not require a user to do a manual seed phrase backup.
Beyond being a cold wallet, Cypherock X1 serves as a secure repository for multiple seed phrases from different wallets. Compatible with Ledger, Trezor, Metamask, Trust Wallet, and every other BIP39 compatible wallet, Cypherock X1 allows you to import and store/back-up upto 4 seed phrases. You can manage all your crypto wallets through the CySync app. Track your entire portfolio across various wallets, efficiently manage private keys, and sign transactions seamlessly in one unified platform.
Pros
- The Cypherock X1 vault supports the secure storage of over 3,000 crypto coins and tokens, including popular options like BTC, ETH, MATIC, and DOGE.
- Seed phrases can be a single point of failure and might pose a massive barrier to the mass adoption of cold wallets. Cypherock X1 eliminates the need for a seed phrase backup on a piece of paper or a metal backup anymore.
- Cypherock X1 can function as a seed phrase backup for your other crypto wallets (both hot and cold). Using the ‘import seed phrase function’, you can secure the seed phrases of your other wallets like Metamask, Ledger, Trezor etc. completely offline and securely on Cypherock X1. Users can manage multiple wallet portfolios through a single app- CySync app.
- Cypherock eliminates fear around loss of Crypto in case something happens to you. Cypherock X1 is soon going to launch a non-custodial beneficiary service that allows the transfer of assets to loved ones without compromising privacy and control of the assets.
Cons
- Not compatible with MetaMask currently. But users can still connect with DApps securely through WalletConnect.
- Smaller screen size compared to some HW wallets. Still better than HW wallets that don’t have a display. The screen size is good enough to view tx addresses.
#6 SecuX STONE Hardware Wallet (Amazon Link)
The SecuX STONE V20 Crypto Hardware Wallet is crafted with a diamond-shaped aluminum case that a Taiwan-based blockchain security company designs. All SecuX STONE V20, W20, and W10 wallets are embedded with a Secure Element chip to protect your Private Key and device PIN safely.
With a large 2.8” touchscreen display, SecuX STONE V20, W20, and W10 wallets allow cryptocurrency users to operate by finger tipping easily and view multiple crypto accounts at a glance. The users are able to easily tip on the intuitive color vivid icons with readable characters.
SecuX STONE V20/W20 wallets are the best cross-platform crypto hardware wallets that support major Operating Systems including Windows, Mac OS, Chrome OS, Linux, Android, and iOS. SecuX STONE V20/W20 feature with dual connectivity that allows the wallet connects to the desktop, laptop, mobile phone via USB or Bluetooth. Cryptocurrency investors can use SecuX Mobile iOS or Android App to manage crypto assets easily on the Bluetooth-enabled SecuX STONE wallets.
SecuX STONE V20, W20, and W10 adopt a SecuX Web App as a portal without the app installation which is a truly easy solution to access your account management and send/receive the crypto assets at all times.
Pros: SecuX STONE hardware wallets support cross-platform OS compatibility that allows cryptocurrency users to easily manage the cryptocurrencies and make the transaction on the go.
Cons: SecuX STONE hardware wallets are lesser coin support for major crypto coins, such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Binance, Groestlcoin, DigiByte, Dash, Stellar Lumens, DOGE, and all ERC-20 Tokens.
Read SecuX Stone review
#7 KeepKey Hardware Wallet (Amazon Link)
The KeepKey is similarly shaped to the Ledger, however, it features an easy-to-read digital display. Its parent company, Shapeshift, is a long-time and trusted software wallet provider in the crypto space.
Pros: An upgrade to the Ledger in appearance. Easy to read and use compared to its competitor Ledger Nano X. Syncs with the Shapeshift wallet, giving you options for exchange right out of the box.
Cons: When comparing it to its competitors TREZOR and Ledger, it still lacks community support. Moreover, users must add software such as Electrum or MultiBit to make use of Keepkey applications. Usable only when it is connected via a USB cable that’s plugged into an internet-connected device.
#8 Keevo Wallet (Amazon Link)
Keevo wallet is a hardware wallet that has a Multi-factor/ multi-signature authentication system and is designed to give you security. Further, it has the solution for fear of losing the seed phrase. The wallet provides the ultimate solution for all your crypto transactions.
The Keevo wallet has four main components which include the Keevo hardware wallet, the carbon key, desktop app and keevo premium plus service. Moreover, the unique part about Keevo Wallet is its “Recovery” feature. It is the first platform to launch a hardware wallet that can execute its recovery without having the seed phrase.
Pros: Keevo wallet follows standard security protocols. The device is easy to hold and looks sturdy. The device is free from insecurities as there is no risk of remembering the seed phrase. Supports all the major cryptocurrencies.
Cons: Offers very less educational content. The paid service plans offered by the wallet are not appealing. The process of securing the encrypted data with the company can be worrisome for some users.
Best Crypto hardware wallets list
Want more information on hardware wallets?
Interested in a more in-depth explanation? I have linked a video of Andreas Antonopoulos here for that purpose. Antonopoulos does a great job of explaining what hardware wallets are and are not.
While hardware wallets are an investment, they may be worth it given the peace of mind you will get from them when managing your digital assets. Hardware wallets will keep you safe when transacting, but you’ll still need to keep backups of your seed and follow other best practices. For best practices around cryptocurrency storage, start here with another one of my favorite Antonopoulos Q&A session
Thank you for reading!
Frequently Asked Questions
Why are hardware wallets safe?
A hardware wallet stores the user’s private keys very securely by making use of a USB drive device. This keeps the wallets unaffected by viruses that could be on the user’s computer.
How does the ledger wallet work?
Ledger wallets are basically USB storage devices that hold multiple currencies offline. It is capable of storing the user’s private keys on the device and thus, making it difficult for third parties to access the user’s account. Moreover, if the physical device gets stolen, then, the user can rely on a 24-word password backup recovery to access his/her stored cryptocurrency.
Here you can compare Ledger vs Ngrave and decide which one is the most suitable for you.
How to set up a Trezor wallet?
- Connect the trezor wallet to your computer.
- Go to trezor.io/start
- Install trezor wallet.
- Install firmware.
- Reconnect Trezor.
- Give the trezor device a name.
- Set up the PIN.
- Note down the recovery seeds
Read on to the Ledger vs Trezor comparison article and get better insights into these two wallets.
How do the Ngrave wallet works?
- Create a transaction request.
- Scan the QR code.
- Verify transaction details.
- Scan your signature.
- Broadcast your transaction.
Know more about the SecuX STONE crypto hardware wallet and discover why it is suitable for all kinds of cryptocurrency holders.
Which crypto hardware wallet is best?
If you’re looking for a place to keep your cryptocurrencies secure then some of the best crypto hardware wallets to choose from are: Ledger, Trezor, Ngrave, BitBox, KeepKey, and Keevo.
Do I need a crypto wallet?
Crypto wallets make a great investment. Having a secure crypto wallet keeps your cryptocurrencies safe and guards it against hacks. Moreover, having a wallet allows you to perform multiple transactions while keeping an eye on your balance.
Read this article “Best Crypto Hardware Wallets to Store Bitcoin” and choose the most suitable wallet for yourself.
Which hardware wallet supports the most coins?
Ledger Nano S is one of those hardware wallets that supports the most coins. Although, Trezor is another such wallet it does not support Ripple(XRP) which is among the main cryptocurrency.
Which hardware wallet supports Solana?
Ledger Nano S and Ledger Nano X support Solana.
How to connect hardware wallet to metamask?
- Unlock your Metamask.
- Navigate and click on the avatar icon at the top right corner.
- Select “Connect to Hardware wallet”
- Choose from Ledger or Trezor.
- Click on connect.
- Finally, select any account you want to interact with.
What is a bitcoin wallet address?
A bitcoin wallet address is a unique identifier that works as a virtual location where the cryptocurrency can be sent.
Take a look at this list of the 9 best bitcoin wallets India, along with concepts that will help you understand crypto wallet and custody.
What is a cold crypto wallet?
A cold crypto wallet is simply another term used for hardware wallets. It is a crypto wallet that is not connected to the internet and stores users’ private keys, and address, and works in conjunction with compatible software on the computer.
Which is the safest crypto wallet?
Trezor wallet is one of the safest crypto wallets as it comes with trustable security features.
Which is the best Ethereum wallet?
Ethereum is among the most valuable cryptocurrency in the world. Some of the best Ethereum wallets include Trezor One, Metamask, and Ledger Nano.
How to choose a crypto wallet?
It is really important to choose an appropriate crypto wallet so that you do not lose your potential funds. For this,
- Determine your desired wallet type: Hardware or Mobile wallet.
- Buy and download the chosen wallet.
- Install he desired software.
- Set up the required account and security features.
- Deposit your cryptocurrency to that wallet.
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