From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s now take a closer look at the hardware wallets mentioned there.
The best way to store cryptocurrencies
Yes, it’s true. Hardware wallets are considered the safest to store cryptocurrencies. They come with dedicated software that supports the management of our assets. To make transfers, both incoming and outgoing, you need to connect them to your computer or mobile device. The most common way to do this is with a USB cable or Bluetooth. The process of signing transactions takes place on the wallet, which means that it can be used safely even on an infected computer. It is very important to create a backup copy of the wallet content. Thanks to it we do not risk losing our assets in a situation when, for example, we lose our device.
There are many manufacturers of such devices. However, the most popular and trustworthy are Ledger and Trezor. Below we will introduce you to both manufacturers in a few words, along with their flagship wallet models.
Ledger hardware wallets
Ledger has been producing cryptocurrency wallets since 2014. It is a French company that boasts the highest security standards in its products. They have tamper-proof chips that can withstand sophisticated attacks. Ledger has two outstanding wallets in its portfolio. These are the Nano S and the Nano X.
Both wallets support the same cryptocurrencies, which are constantly increasing in number. Ledger Nano X is the newer version. While the Nano S only works when configured with Windows and Android, the Nano X also works with iOS. In addition, it has Bluetooth functionality, which its older brother cannot boast. Both wallets run on the Ledger Live app to support device support.
Trezor hardware wallets
Ledger’s solid competitor is Trezor. It is a wallet produced by the Czech company SatoshiLabs. The premiere of the first device took place in 2014 and quickly gained popularity. Like its French competitor, Trezor also has advanced security systems making successful hacking attacks virtually impossible.
The Czech manufacturer has two wallet models. These are the Trezor One and the Trezor T. The Trezor T is the little brother. It boasts a more interesting interface, enhanced with a touchscreen. Compared to the Trezor One, it supports slightly more cryptocurrencies. Both devices are supported by a proprietary application from the manufacturer.
No matter which of the mentioned wallets we choose, our assets will be equally well protected. We set an individual PIN for each of them, and also obtain 24 security phrases. These are called ‘seeds’ and should be written down and kept in a safe place. These are phrases that, in the event of a possible failure of our wallet, are able to recover its entire contents, as a backup.
Remember also to purchase your cryptocurrency wallet from the manufacturer’s website. The application to operate it should come from the same source. If you take care of these elements, you can be sure that the assets you hold on these wallets will be fully protected.