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In this article, we will be reviewing the best crypto hardware wallets for storing cryptocurrency in 2022. A hardware wallet is very important for cryptocurrency and NFTs traders in the blockchain ecosystem. Storing your private keys properly and securing your cryptocurrency should be a major concern for cryptocurrency investors to prevent cyber hacking and theft of digital assets.
A crypto hardware wallet is a cryptocurrency wallet that stores the user’s private keys (a critical piece of information used to authorise outgoing transactions in a blockchain network) in a secure hardware device. With hardware wallets, risk-conscious crypto enthusiasts can securely store their cryptocurrencies without fear of losing their digital assets to hackers.
[READ ALSO: How To Buy a Hardware Crypto Wallet]
Hardware wallets can also store many crypto assets on the same device and it is easy and convenient to use.
Top 5 Crypto Hardware Wallets You Should Use
Here are the best five recommended Crypto Hardware Wallets in 2022:
5. Trezor Model T-Next Generation
Trezor Model T-Next Generation is an advanced technology of the basic Trezor flagship hardware wallet, Trezor One. Made public in 2019, Model T supports over 1318 cryptocurrencies and tokens. It uses a Hierarchical Deterministic or HD key creation and BIP32 transfer protocol to secure your assets.
- Trezor Model T- Next Generation has a built-in touchscreen to help enter PINs and passwords on the device.
- It works on Windows, Mac OS, Linux and Android via OTG support. It doesn’t work on iOS.
- It enables two-factor authentication for extra security.
- It is EAL5+ secured against attacks.
- You can send funds to multiple recipients in one transaction.
- Model T supports QR codes. Just like a mobile wallet, a sender can scan your code to send cryptocurrency to your hardware wallet.
- It also works as a FIDO2 security key for supported devices.
Overall, Trezor Model T-Next Generation is best for advanced multi-crypto holders and traders.
4. Steel Bitcoin Wallet for Hardware Wallet Backup
Steel Bitcoin wallets are made of Steel and are excellent for protecting your cryptocurrency against fire and water. The motive of this wallet is to prevent cryptocurrency wallets from getting easily damaged by water and fire, unlike other hardware wallets. It also allows users to back up their Nano Ledger, Trezor and Keepkey phrases on steel. Steel bitcoin wallet is mostly recommended for long-term investors. An obvious downside of this wallet is that you will not enjoy the crypto management features on digital devices or applications.
- It is EAL5+ secured against penetration attacks.
- It is double-sided, so it can support a full 24-word seed phrase.
- It is stainless steel. It is waterproof, shockproof, fireproof and hackerproof.
- It is possible and can last for a very long time.
- Steel bitcoin wallets are prearranged tiles that slide into the device.
Overall, Steel Bitcoin Wallet is best for only long-term holders.
3. SafePal S1
SafePal S1 is supported by Binance directly from the Binance Labs kitchen. It comes with a PIN and private keys to make it difficult for hackers to penetrate. In 2021 during its launch, it was stated that the main idea of SafePal S1 was to have a hardware wallet that is more affordable than Trezor and Ledger Nano S, the two most well-known hardware wallets. Safepal S1 works with its mobile app, SafePal S1. It also comes with a mnemonic card where you can store the mnemonic seed codes and private keys, USB cable cords and brand stickers. It is digitized with great features like a built-in camera to scan QR codes, a control button and a display screen to confirm transactions offline. SafePal S1 is a multi-crypto hardware wallet that supports Bitcoin, Binance coin, BEP2 Tokens, ER2 20 compatible crypto coins and Ethereum.
- It is not Bluetooth, NFC or Wi-Fi supported.
- Safepal S1 activates self-destructive mechanisms if a virus or malware is detected.
- You can manage the portfolio with the Android or iOS SafePal app.
- It is EAL5+ secured against attacks.
Overall, Safepal S1 is best for Binance and ERC Token users.
2. Trezor Model One
Trezor is a brand by SatoshiLabs, which produced the model One and Model T devices. Founded in 2013, Trezor Model One uses Hierarchical Deterministic and BIP32 transfer protocol to generate and backup deterministic keys (BIP39). The crypto hardware wallet supports over 1,000 crypto assets. It has a display screen and two physical buttons to verify transactions. It is not Bluetooth supported.
- Trezor Model One can work on Android, OS X, Windows and Linux.
- It allows owners to customize the device on the website.
- It creates an address at will to avoid the use of an address multiple times.
- Trezor model one sets a fee at the round, high, economy, low and custom levels.
- It has third-party wallet integration support.
- EAL5+ secured against hackers.
Overall, Trezor Model One is best for multi-crypto traders and holders.
1. Ledger Nano S
Ledger Nano S is the most popular of them all. It was released in 2016 and is considered more secure than others. It has rich features and is suitable for newbies and advanced crypto traders.
It features USB connectivity, a clear OLED display screen interface, and two navigation buttons for confirming transactions. Ledger Nano S supports over 1100 cryptocurrencies and digital assets, including Bitcoin, Ethereum, and Litecoin.
- It syncs with Ledger Live, a desktop application for Ledger devices.
- It uses TA31H320 and STM32F042 chips as protection layers.
- 3 blank seed recovery sheets.
- It has a key chain, key lace and a key ring.
- Ledger Nano S supports just a few wallets due to space limitations.
- EAL5+ secured against penetration of attacks.
Overall, Ledger Nano S is best for storing, trading and transferring huge amounts of cryptocurrency, especially Bitcoin, Litecoin and Ethereum.