If your phone is your bitcoin wallet, then you can view a hardware wallet as your vault. Although phone wallets are considered safe for day to day tasks, in the spirit of best practices, it’s encouraged to keep the majority of your bitcoin in your vault. You can then withdraw small amounts you intend to use to your phone, which is also known as a ‘hot wallet’, without exposing your entire fortune.
A hardware wallet like the Ledger Nano S or Trezor can essentially function as your own personal bank. This gives you peace of mind in knowing that no matter what, no one can access the funds in your vault but you.
In today’s robust Bitcoin eco-sphere, potential holders have many options available for hardware wallet storage. We’ll include the top two wallets we recommend for your consideration below, weighing the pros and cons of each one.
Newcomers to the wallet scene, Ledger has already built an excellent reputation for itself. Based out of France, they offer an array of quality products ranging from the budget-friendly HW.1 to the tablet-like hardware wallet called the Ledger Blue that can run entire enterprises. To interact with their wallet, Ledger has developed a feature-rich application that is easy to use and looks outstanding. Their latest in design, the Ledger Nano S, can even accept payments in alt-coins such as Ether. The company has put a lot of effort in creating a positive customer experience, paying attention to every detail. Even the packaging looks suave and modern.
An old faithful of the Bitcoin community, Trezor has been a pillar of security, setting the standard for new up and comers. The format hasn’t changed very much over the years because it works well. While less visually appealing than the Ledger offerings, the Trezor wallet has some interesting features, such as Hidden Wallets, and can even tie into Trezor’s password management site. Recognized as the most secure hardware wallet on the market today, Trezor continues to dominate the wallet scene, despite its higher price point.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.