Security is key when managing cryptocurrencies and NFTs. Software wallets are great for everyday use, but for ultimate security, blockchain users turn to one tool: Hardware wallet.
Hardware wallets provide the highest level of security for your digital assets. By storing your private keys offline and facilitating your transactions through a physical device, they add a critical layer of protection to your Web3 interactions.
Traditionally, the two giants have dominated the hardware wallet space, but as their popularity has attracted attention, and following some recent events, many blockchain enthusiasts are looking for alternatives.
What are the best hardware wallets out there? Let’s take a look at the top 6 hardware wallets of 2024.
But first…
Do I really need a hardware wallet?
Hardware wallets are the pinnacle of security, but they come at the expense of speed.
We recommend that if you hold a certain amount of cryptocurrencies or NFTs that are valuable to you, use a hardware wallet (cold wallet) to protect them.
For daily use, we recommend using a dedicated software wallet (hot wallet). This provides the best protection for your assets while benefiting from the speed and experience advantages that software wallets can provide.
#6 Ledger Starks
- roll out: May 2024
- price: $399
The Ledger Stax is the new flagship device from Ledger, the maker of popular hardware wallets.
Its focus is mainly on user-friendliness. Its standout feature is its unique curved e-ink touchscreen – one of its kind in any consumer device – which presents transactions to users in a human-readable format – what Ledger calls a “clear signature” ”.
The device supports over 5,500 coins, tokens and NFTs and is able to run up to 100 apps simultaneously. It’s powered by a CC EAL6+ certified security chip, one of the highest security levels in consumer electronics, and protected by a customizable 4-8 digit PIN.
However, at $399, it’s one of the pricier options. While it has a sleek design and premium feel, it might be a bit much for the typical blockchain user – given Ledger’s recent controversy regarding its product, community sentiment is currently firmly in favor of their competitor.
For those looking for a sleek, stylish, and user-friendly way to protect their assets, Ledger Stax is worth a look.
#5 Trezzo Security 5
- roll out: June 2024
- price: $169
The Trezor Safe 5 is the new flagship model of Ledger’s biggest competitor, Trezor.
Its focus is on incorporating best-in-class security and user-friendly design into affordable products. The device features a 1.54-inch Gorilla Glass touchscreen and is crucially open source, making it a step ahead of its competitors in terms of security, and a Bitcoin-specific version is available to BTC holders.
The device supports all major coins, tokens, and NFTs, and its integration with the broader Trezor ecosystem makes it an attractive option for both blockchain newbies and experienced users. It’s less than half the price of the Ledger Stax, making it a more affordable option.
Like the Ledger Stax before it, this device only uses a touchscreen input option, so it lacks haptics (although there is tactile feedback) and durability issues – issues that are less present than other options on this list.
If you’re looking for top-notch safety and user-friendly design from a company with unwavering support from the entire community, consider the Trezor Safe 5.
#4 BC Shelter
- roll out: October 2018
- price: Starting at $139
BC Vault is a company that only creates a single hardware wallet (named BC Vault).
In production since 2018, BC Vault is a dedicated long-term storage option. The device does not use a mnemonic phrase, but instead uses an SD card or QR code backup, while using a random number generator and non-deterministic algorithms to establish private keys, passwords and PINs. All of this, coupled with regular updates, is designed to eliminate the possibility of single points of failure.
BC Vault is compatible with almost all cryptocurrencies and claims its FeRAM technology can enable long-term data storage for up to 200 years. Their motto is “Wallets are for pocket money. Vaults are for safekeeping.” – Their reputation is well-deserved, with BC Vault winning many industry awards for its security as a long-term storage solution for digital assets.
Since security is a top priority, BC Vault is not open source, which may cause some concern. The device is also less user-friendly than other options on this list.
BC Vault is a great choice for blockchain enthusiasts who want comprehensive security.
#3 Cemetery Zero
- roll out: May 2020
- price: $440
NGRAVE ZERO is another “security first” hardware wallet option.
The device features a phone-like design with a 4-inch touch screen and claims to be the only “air-gapped” EAL7 hardware wallet (the highest security standard) on the market. This means that the device does not have USB, Bluetooth, NFC, WiFi or 4G capabilities and relies solely on QR codes to perform transactions. NGRAVE ZERO also utilizes a unique key generation process and is constructed from military-grade materials to ensure top-notch physical and digital security.
NGRAVE ZERO supports over 3,500 coins, tokens, and NFTs, and takes full advantage of biometrics, tamper-proof technology, and a customized operating system to ensure the device is as secure as possible.
However, as the most expensive hardware wallet on this list, it’s a hefty investment even for dedicated blockchain enthusiasts, and as a security-first product, user experience takes a back seat to outright security.
If you’re looking for a no-compromise hardware wallet to protect your digital assets, the NGRAVE ZERO is well worth a look.
#2 Ledger Nano S Plus
- roll out: April 2022
- price: $79
The Ledger Nano S Plus is the lowest-priced entry-level device currently offered by Ledger.
The Ledger Nano S Plus is the latest non-Bluetooth device in its long-running Nano series, and it’s very simple—two physical buttons, a small black-and-white screen, and a USB-C connection. By keeping it simple, the device is naturally more secure and affordable – and it has become a popular hardware wallet for blockchain users around the world.
Ledger Nano S Plus supports over 5,000 coins, tokens and NFTs and is easily set up and managed through the Ledger Live app, making it the solution of choice for users on both desktop and Android devices.
However, the lack of Bluetooth makes it incompatible with iOS devices, and the aforementioned recent events have caused concern in the community, with many looking for a Ledger replacement in 2024.
The Ledger Nano S Plus is a popular choice for those who want an affordable, powerful hardware wallet and a significant upgrade from a software-only wallet approach.
#1 Trezor Model One
- roll out: July 2014
- price: $59
The Trezor Model One is the oldest and cheapest hardware wallet on this list, but after more than 10 years of continuous service, it is still the top choice for many blockchain enthusiasts and offers excellent value for money.
It features a 0.93-inch monochrome OLED screen, two physical buttons and a Micro USB connection, and uses Trezor’s proven open source software – arguably the gold standard for wallet security.
Trezor Model One supports thousands of coins, tokens, and NFTs and features PIN and password protection, ample device compatibility, and ever-increasing compatibility with third-party wallets and services, including Trezor Suite, since launch. It is a trustworthy choice.
The lack of modern features may put off some users, and Micro USB is an outdated standard – although the device comes with a Micro USB to USB-A cable that can easily adapt to modern USB-C ports.
As one of the most trustworthy, affordable, and time-tested hardware wallets, the Trezor Model One secures the top spot on our list of the best hardware wallets of 2024.
