In a previous article I explained what a cryptocurrency hardware wallet is and what the differences are between a software wallet, a paper wallet and a hardware wallet. They all come with their own advantages and disadvantages
I believe that the best option for you to store and protect your cryptocurrency investments is a hardware wallet. Storing your cryptos on a cold storage hardware wallet and keeping your coins offline ensures that nobody will be able to get to them. The reason you invest in Bitcoin and altcoins is because one day you want them to be worth a lot of money right?! So make sure they are safe during the HODL.
In this article I am doing a comparison of the 5 most reputable hardware wallets in 2019: Trezor Model T, Trezor one, Ledger Nano S, Ledger Nano X, and KeepKey.
Topics of interest are: ease of use, level of security, altcoin support, price, pros, and cons.
Since you are in a hurry I will give you the conclusion right away so you can read more about the wallets that fit your needs best.
Conclusion: Which Wallet to Choose in 2019
Ledger is a tried and tested security company that is in the crypto space since 2014. Their wallets offer more coin support than a lot of the other hardware wallets out there because they opened their platform for application development. They have the largest amount of users and a positive community. These are the main reasons I would choose Ledger over any other brand.
If you are on a lower budget I would definitely go for the most popular Ledger Nano S which has been sold for over a million times. I bought mine last year and never had any issues with it. They still sell them for a great price ($59).
If you have more fiat to spend I would go for the newest Ledger, the Nano X. Currently the Nano X costs $119, which is twice the cost of the Nano S, but has some cool new features. Take a look at the most prominent differences between the two:
Ledger Nano S vs Ledger Nano X
The biggest differences between the Nano S and the newer Nano X are the addition of bluetooth LE support, a larger LED display, a rechargeable built-in battery, and larger storage space for apps.
If you are planning on doing transactions often (using the Ledger Live mobile companion app), you love gadgets, and prefer a larger screen than you should go for the Ledger Nano X.
If you decide to buy a ledger, always buy your wallet directly from the Ledger website
By Ledger. Since March 2019
Supported coins *
It supports more than 1100 assets including BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, NEO and many more
- 100 mAh rechargeable battery that can be easily recharged by connecting the USB-C port to the USB port of a laptop or desktop computer with the cable that’s included
- 128×64 display (twice the size of the Nano S)
- Bluetooth Low Energy 5.0 enabled to securely connect to your smartphone
The Secure Element is rated CC EAL5+ (a certified secure chip)
The Ledger Nano X comes with: 1 micro-USB cable, keychain / key ring, and a sheet for writing down the recovery seed.
Visit the Ledger website for more information
By Ledger. Since June 2016
Supported coins *
BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, NEO and more
Supports 24+ different cryptocurrencies.
Easy to setup and use.
Good price / quality ratio.
Good support and community.
The majority of the code (beside the firmware part / the separate security chip) is open source and on GitHub.
Ledger Nano S is based on a dual chip architecture (ST31/STM32, Certification level: CC EAL5+). The firmware integrity is guaranteed by cryptographic attestation. It has two physical buttons which need to be pressed to confirm payments.
The Ledger Nano S comes with: 1 micro-USB cable, keychain / key ring, and a sheet for writing down the recovery seed.
Setting up the Ledger Nano S
#1 Plug the device into the USB port of your machine and look at the Ledger screen for further instructions (create a new wallet or import an existing one).
#2 Pick a four-digit pin code. Please, don’t pick something obvious such as “0000” or “1234”!
#3 Retrieve the recovery sheet from the Ledger’s box. Enter the 24 words in the order that they are listed in, allowing you to recover your wallet in the case of theft or damage.
#4 Install the Ledger app on your computer and you’re done.
Ledger Nano S – Setup and Guide
By SatoshiLabs s.r.o.. Since August 2014
Supported coins *
BTC, BCH, BTG, ETH, ETC, LTC, DASH, ZEC, EXP, and UBQ
World’s first secure Bitcoin hardware wallet.
Lightweight (12 g) and robust design.
Supports the most common coins but less than the Ledger.
2 buttons for confirmation / authentication.
24-word recovery seed.
CE and RoHS certified.
Supports more than 700 coins
Safety: The Trezor is CE and RoHS certified
- Built in touch screen
- Good company reputation
- Higher price
- Trezor Model T
- Magnetic dock
- USB-C cable
- Recovery seed
- Getting started guide
By KeepKey, LLC. Since 2015
Supported coins *
BTC, BCH, ETH, LTC, DOGE, DASH, and namecoin
More attractive design than other wallets.
This device is bigger because of its bigger screen (and thus not very portable).
It doesn’t have a strong reputation in the community at this point in time.
More expensive than Trezor and Ledger Nano S.
12 words Recovery seed.
Virus- and malware-proof