Best Bitcoin Wallets

Review & Comparison, Last Update April 30, 2018
Looking for the safest way to store your Bitcoins? Then, look at our pick of hardware wallets which are considered to be the best cryptocurrency protection measure today. ...Read more ...Read less
BEST 2018
PROS
CONS
OUR VERDICT
Type
Currency Support
Security System
Extras
Interface
Compatibility
Material
Dimensions & Weight
Warranty
 
PROS

The Nano S is an easy to set up and use hardware wallet with a special screen for maximum convenience. It features one of the strongest security systems allowing you not to worry about your Bitcoin's safety.

CONS

No passphrase support.

OUR VERDICT

This hardware wallet is currently one of the cheapest wallets on the market delivering a compact and stylish design. It provides robust security features and multi-currency support meeting all your needs in terms of safe and comfortable Bitcoin management.

detailed parameters
Type

Offline, mobile

Currency Support

More than 20 cryptocurrencies

Security System

Built-in 4 digit PIN security lock,  Seed backup protection

Extras

Multi-apps support: FIDO U2F, GPG, SSH; Support for GreenAddress & Greenbits; Ledger Manager

Interface

OLED display and two physical buttons

Compatibility

Electrum, Copay, Mycelium, GreenBits and MyEtherWallet

Material

Brushed stainless steel and Plastic

Dimensions & Weight

0.7" x 0.3" x 3.9", 0.64 oz

Warranty

2 years

PROS

This affordable hardware wallet offers extra protection and verification thanks to its screen, buttons, PIN code, and passphrase. It is also compatible with a great variety of software wallets making your Bitcoin transaction much more convenient.

CONS

There is no way to change a transaction fee. 

OUR VERDICT

The TREZOR is the very first Bitcoin hardware wallet that offers both cold storage and the ability to spend your coins with the hot wallet convenience. It offers perfect protection from both physical and online thefts.

detailed parameters
Type

Offline, mobile

Currency Support

Bitcoin, Litecoin, Dash, Zcash, Bitcoin Cash, Bitcoin Gold, Ethereum (+ all ERC-20 tokens), Ethereum Classic, Expanse, UBIQ, NEM, Namecoin, Dogecoin and Bitcoin Testnet

Security System

Built-in 4 digit PIN security lock, 2-factor authentication, 24-word recovery phrase and passphrase

Extras

CE and RoHS certified, Multi-apps support: FIDO U2F, GPG, SSH

Interface

OLED display and two physical buttons

Compatibility

Electrum, Mycelium, GreenBits,  GreenAddress, MultiBit HD

Material

Plastics

Dimensions & Weight

2.4" x 1.2" x 0.2", 0.42 oz

Warranty

1 year

PROS

The KeepKey hardware wallet is an extremely user-friendly device that even some of the least tech-savvy people can manage with ease. Providing the best-practice security system, it prevents virtually any possible theft.

CONS

Hardly the most portable option. 

OUR VERDICT

This wallet is ideal for those who own multiple cryptocurrencies and will even allow you to create a portfolio of digital assets. You can also store and generate an unlimited amount of private keys.

detailed parameters
Type

Offline, mobile

Currency Support

Bitcoin, Bitcoin cash, Ethereum, Litecoin, Dogecoin, Dash, and more coming soon

Security System

Built-in 4 digit PIN security lock, 12-word recovery sentence, Passphrase

Extras

USB HID, Micro-USB connector, ARM® Cortex™-M3, TRNG (Hardware-Based Random Number Generator)

Interface

OLED display and confirmation button

Compatibility

Electrum, MultiBit, Mycelium

Material

Anodized Aluminum Case, Polycarbonate Front

Dimensions & Weight

0.5" x 3.7" x 1.5", 10.6 oz

Warranty

1 year 

PROS

This bitcoin wallet works not only with a computer but also with tablets and cell phones. The Opendime is a small USB stick that lets you spend your Bitcoins as easy as a dollar bill.

CONS

The device is easy to lose due to its size.

OUR VERDICT

The Opendime is the first Bitcoin Bearer Bond that puts your cryptocurrency in your hands just like dollars, euros, or pounds. It can be spent like cash or loaded like a debit card without any need for transaction fees or confirmations. It is an extremely convenient device for those who need to take a hardware wallet everywhere.

detailed parameters
Type

Offline, mobile

Currency Support

Bitcoin

Security System

Special seal protection, works like piggy bank

Extras

Read-only USB 2.0, Microchip - Atmel SAMD21 Cortex M0 MCU, Security Chip - Atmel ATECC508A

Interface

Disposable USB device

Compatibility

Samourai Wallet, Electrum

Material

Plastics

Dimensions & Weight

1" x 1" x 1", 0.64 oz

Warranty

30-days Amazon's Return Policy

PROS

The Ledger HW.1 is a smartcard device featuring a compact design and a high-level security system. It is a great choice for those who look for a durable product since the manufacturer promises a lifespan of over 30 years.

CONS

The model supports only one cryptocurrency.

OUR VERDICT

The Ledger wallet is suitable for business applications providing an ability for multi-signature transactions. You will be able to securely store your investments offline, all while spending them online on a daily basis.

detailed parameters
Type

Offline, mobile

Currency Support

Bitcoin 

Security System

Microchip locked by a PIN code, Anti-malware second factor, 24-word recovery phrase

Extras

One HW.1 (Classic), or in three-packs (HW.1 Multisig) or ten-packs (HW.1 Enterprise)

Interface

Small smartcard device

Compatibility

Electrum, Mycelium, Copay, GreenBits, GreenAddress, Coinkite, and the Ledger Chrome wallet

Material

Plastic and Silicium

Dimensions & Weight

5.1" x 3.2" x 1.2", 0.32 oz

Warranty

2 years

Ledger Nano S

The Best Protection For Your Cryptocurrency

The Ledger Nano S is one of the most popular hardware wallets on the market today. This model differs from its siblings thanks to an innovative design that features a special screen. This display allows you to check and confirm all your transactions using its physical button. The Nano S’ screen lets you use a hardware wallet even if your computer is infected with malware. So, this hardware wallet stores your private keys (your own secret number that allows you to spend bitcoins) offline in a perfectly secure environment. That means your coins are out of reach from cyber-criminals and hackers because these private keys are not stored online. In addition, when you set up this hardware wallet, your individual recovery phrase is displayed on its screen. This recovery phrase is a 24-word code and a complete backup of your wallet. Why do we need to create a recovery phrase? In case your wallet is lost or damaged, it will be easy to restore by way of these so-called "seed words". Remember that anyone who knows your recovery phrase has an access to the wallet and is able to gain a control of the bitcoins.

Apart from its special screen, this model has two physical buttons that also add in terms of security. You should press both buttons simultaneously in order to confirm any payment. Moreover, you won't have to worry even if you ever manage to lose your bitcoin hardware key. This device requires a user to create a special 4 digit PIN code, so no stranger will be able to manage your coins without knowing this code. As you see, this hardware wallet is created with a total safety and convenience in mind to provide the best protection for your cryptocurrency.

Review of Ledger Nano S Cryptocurrency Hardware Wallet

More Than 20 Cryptocurrencies

This product is highly respected by the cryptocurrency community for the level of security and the type of design it provides. The Ledger Nano S is made in the USB driver shape featuring stainless steel for optimal damage resistance. This device is compatible with any present-day computer. One more great advantage is its compatibility with multiple currencies. Almost any cryptocurrency investor nowadays has more than just one currency in his or her possession. So, the opportunity to store all your coins in one wallet is in a high demand.

This model is compatible with more than 20 cryptocurrencies and is the winner among other wallets. You are able to install a special companion app for each cryptocurrency on your wallet. Additionally, you will have to download a Chrome extension to access the crypto on your desktop. In general, the Ledger Nano S is a user-friendly, safe, and reasonably priced device for cryptocurrency investors. So, don’t hesitate to get the best bitcoin wallet in order to keep your coins safe and sound.

Ledger Nano S Cryptocurrency Hardware Wallet in the use

 

Satoshi Labs SL-TRZ

The First Hardware Wallet

The TREZOR is the first hardware wallet launched in August 2014. This very first model of portable bitcoin wallet offers not only secure cold storage but also an ability to manage your coins with the help of a hot wallet. With the level of security this device provides, you won't ever have to worry about the safety of your bitcoins. Don’t be afraid of any malware, viruses, keyloggers, and hackers because your private keys are stored offline. TREZOR is a USB-connectable device that is made to look like a simple portable design, allowing you to take the model with you anywhere you go. It has a special strap that can be attached to your keychain or anywhere else. As it is made of plastic, it is extremely lightweight, meaning that you'll be able to carry it with you at all times without facing any potential problems.

A big plus of this wallet is that, since the design of it is very simple, it doesn't really attract any unnecessary attention, thus greatly reducing the risk of theft. This model comes with a short micro USB-cable to connect the wallet to your computer. TREZOR supports a great variety of cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Zcash. You can control any cryptocurrency wallet with the help of the software it provides. There is also one more impressive “Hide this account” option. It allows you to hide a wallet that exists on the device so that no one except you knows the wallet is there. In general, the TREZOR hardware wallet is what you really need to keep your coins safe and manage them with ease.
Review of Satoshi Labs SL-TRZ TREZOR - The Bitcoin Safe (Grey)

No Chances for Theft

The security system impresses with its ability to protect both from physical and virtual thefts. As other hardware wallets, this one also has a 24-word recovery phrase that is only generated offline. You are also able to create an additional passphrase that usually acts as a 25th seed word. But be very attentive because, without this additional seed, you won’t be able to recover your wallet. The next interesting thing is connected with the TEZOR’s PIN code. You will be required to create it during setup and then enter this code each time before spending bitcoins. If the code is not correct, the time to wait for the next guess is increased twofold. That means making 30 guesses would take 17 years!

This model has two physical buttons to confirm sending bitcoins, so there is no risk of hackers sending them automatically. In addition, Satoshi Labs can’t track your actions because TREZOR hardware wallet doesn’t have a serial number. So, taking into account all TREZOR’s benefits, we can definitely recommend this device to those who appreciate quality and convenience.

Satoshi Labs SL-TRZ TREZOR - The Bitcoin Safe (Grey) in the use

 

KeepKey K1-14AM

Personal Tiny Computer

The KeepKey is an open source secure Bitcoin hardware wallet that was launched a few years ago. This model features a durable metal body, digital screen, and premium level security. Just imagine that this is your personal tiny computer that serves for storing your cryptocurrency. It provides a great level of security protecting your private keys from virtual and physical theft. Moreover, this wallet can be used on the computer that was infected with virus or malware without any worry. A PIN code and number randomization ensure protection from physical theft while offline storage protects from hackers and cyber-criminals. In case you ever manage to damage or lose your KeepKey wallet, you need to remember your recovery phrase to restore all information. There is a special form that comes in the box to write down your personal recovery phrase and never forget it.

This model also supports several currencies such as Bitcoin, Ethereum, Litecoin, Namecoin, Dogecoin, Dash, and Testnet. The KeepKey works on PC, Linux, Mac, and Android. You just need to plug the provided USB cable and your wallet is ready to work. Protect your crypto coins and private keys with the help of this offline Bitcoin wallet and never let hackers manage your money.

Review of KeepKey K1-14AM The Simple Cryptocurrency Hardware Wallet

New Competitor on the Hardware Wallet's Market

The KeepKey is an HD wallet, meaning it is capable of storing a limitless amount of private keys. In addition, this model is compatible with Electrum, Mycelium, MultiBit software wallets to work together with your hardware wallet. Getting started with a KeepKey physical Bitcoin wallet is very simple as you need only to download one app to generate a wallet and one to connect to KeepKey via Chrome. Then, after the setup, you should only add an account and manage your coins as you wish. You should also pay attention to the KeepKey seal which indicates that the box hasn’t been opened before and your device is secure.

For a rather affordable price, you get not only hardware wallet itself but also a USB cable and a nice leather case. For some people, it might be less comfortable to take this wallet with them because it isn't that small, but others do not see any problem with its size. This model has a rather large OLED screen allowing you to see everything clearly. In conclusion, the KeepKey did a great job to become a real competitor to such brands as TREZOR and Ledger, boasting a nice design, perfect security, and multiple currency support. This wallet is getting more and more popular nowadays thanks to its performance and affordability, so don’t miss the chance to protect your bitcoins with the KeepKey.

KeepKey K1-14AM The Simple Cryptocurrency Hardware Wallet in the use

 

Opendime Bitcoin USB Stick

The First Bitcoin Bearer Bond

The Opendime is a Bitcoin Bearer Bond USB stick that differs from a usual hardware wallet. This device allows you to use your crypto coins as easily as you spend a dollar bill. So, how does it work? Well, did you know that all currencies were originally based on the gold value? People used dollar bills as they knew it was a representation of gold and there was no need to transfer actual pieces of gold. The Opendime USB stick is designed to work the same way based on the Bitcoin network.

This device is 100% off chain, presenting a perfect way to avoid transaction fees and long transaction times. The investors who own this hardware wallet can check their balance plugging it into the computer. The security system consists of a safety key that is known only to its owner. The Opendime developers ensure that it is almost impossible to hack this device due to its perfect security system and read-only properties. For a rather affordable price, you get 3 Opendime sticks, with each of them being able to offer a limitless number of transactions until the moment they are unsealed. Taking into account all its specifications, we can come to the conclusion that this device will be a perfect companion for people who own a large number of Bitcoins and don’t want to pay high transaction fees.
Review of Opendime Bitcoin USB Stick Hardware Wallet

Piggy-Bank Economics

The Opendime USB stick was created by a Coinkite company after they watched the growth of the hardware wallets and physical cryptocurrency coins. So, they have decided to design an innovative disposable hardware wallet to be used the same way we utilize cash. This device works like a piggy-bank, meaning you need to destroy it to spend your Bitcoins. As long as Opendime isn't broken, it serves as a place to store your Bitcoins. This portable Bitcoin wallet works like a read-only USB flash drive and is compatible with any computer, laptop, tablet, or mobile phone.

You can be sure that putting your private keys into a cold storage is the best way to protect your investments. These private keys are generated inside this hardware wallet and are unknown even to its holder. The Opendime uses private keys in WIF (Wallet Import Format) to make the keys easier to copy. In addition, this wallet uses Bitcoin message signing and non-HD Bitcoin payment addresses open standards to provide maximum transparency. All in all, the Opendime Bitcoin wallet on USB is a unique device that can change the way we perform Bitcoin transactions, removing certain disadvantages of a usual approach.

Opendime Bitcoin USB Stick Hardware Wallet in the use

 

Ledger HW.1

Both for Personal and Group Use

The Ledger HW.1 is an abbreviation for a Ledger Hardware Wallet. This wallet is considered to be a Bitcoin-specific device storing your private keys on the USB dongle. It is an innovative smart card device created for personal and group needs. It is also a perfect decision for business use thanks to its secure multi-signature transactions function. This wallet is offered in one pack HW.1 (Classic), in 3-packs HW.1 (Multisig), and in 10-packs HW.1 (Enterprise). Each of these packs includes a security key, a special chip, and a recovery sheet. The Ledger is a well-known company due to its expertise in security and convenience. This model uses the EAL5+ smartcard that proved its high-level security in bank processes, governments data, and healthcare system.

This model doesn’t have a screen, so in order to set up 24-word recovery seed and a 4-digit code, you will need to plug the product into a laptop or a computer. The PIN code is obligatory in case you want to see your balance or for a transaction while the recovery seed is there for restoring information. One more thing to pay attention is a two-factor authentication that provides some extra safety. This model comes with a special security key (security card) that you will need each time you send a payment. As you can see, this offline bitcoin wallet is the safest way to keep your investments and make safe payments.

Review of Ledger HW.1 Hardware Bitcoin Wallet

Ledger Authenticator

To set up your HW.1, all you have to do is use a special Chrome extension by Ledger. To make sure you create your recovery seed in a secure space, it is recommended to use a Ledger starter. Despite the fact that it doesn’t have a screen, you can download Ledger’s Android and iPhone apps and use your phone to confirm payments. Another considerable advantage is that this device can co-work with lots of software wallets such as Ledger wallet, Electrum, Mycelium, Copay, GreenBits, Coinkite, providing a safe and convenient cooperation. You can use this device on PC, Mac, and Linux by connecting it directly to the USB port.

Ledger provides a great number of useful apps such as The Ledger Authenticator, making all processes easier and safer. This application is created to double-check your transactions as this model has no screen. It is highly recommended to alternate this Ledger Authenticator and your security card in order to achieve the safest possible use. This hardware wallet is an amazing device both for personal and group use demonstrating high performance and safety properties.

Ledger HW.1 Hardware Bitcoin Wallet in the use

 

What Is a Bitcoin Wallet?

A Bitcoin wallet is a first requirement towards using this cryptocurrency. Why is it so? Because without such wallet, you won't be able to receive, store, or spend your Bitcoins. These wallets are created not to just protect bitcoins, but to keep the secret codes that allow you to safely spend this cryptocurrency. These secret codes are the individual keys that give you an access to your digital money. Nowadays, there are quite a few types of Bitcoin wallets such as Software wallets, Web wallets, and Paper wallets. However, the safest way to store your cryptocurrency is a Hardware wallet.

The tool in question is essentially a physical electronic device that keeps your private keys away from malware or viruses. This innovative device should first be connected to the computer or any other supported gadget before you can spend bitcoins. Software wallet is usually an easy target for cyber-criminals who can access your bitcoins rather easily since they are digital. But keeping your private keys offline with the help of a hardware wallet ensures that the hackers won’t reach your bitcoins. Moreover, you can protect your hardware wallet with a special PIN code and ensure a fully secure storage. Look at our 5 best hardware wallets and choose the one that fits your needs.

What Features to Compare

If you have decided to buy Bitcoins, the first step you need to do is to provide an optimal secure environment for their storage. Choosing the right Bitcoin wallet can prevent all possible thefts and ensure a peace of mind. So, here are some tips we recommend reviewing before choosing the best hardware protection for your investments.

Security

It is obvious that this feature is the most important one when choosing a hardware wallet for Bitcoins. Ever since the cryptocurrencies became extremely popular, arriving at the center of everyone's attention, the malware such as Adylkuzz and Coinhive started to appear and infect lots of PCs. This is why an offline hardware wallet is the safest way to protect digital money nowadays. The main security points, as stated in our review, are digital PIN-code, recovery phrase, passphrase, and two-factor authentication. A PIN-code is an up to 10 digits number that helps to prevent unauthorized physical access. It is recommended not to choose easy-to-guess codes like your birthday and, of course, you should keep that information in secret. There is also a malware-proof PIN entry that allows you to use your wallet even on the infected computer. The next point of the hardware wallet security system is the recovery seed. In case you ever lose your device, this number of special words will help you restore all private keys from the previous wallet. Do not make a digital copy of your recovery seed and keep it in a safe offline environment. Now, let's talk about the passphrase, which is an advanced security measure that can be a word or a set of letters. This passphrase usually works as a 25th seed word and you ought to remember it by heart. If you enable this type of protection, then you will have to enter it each time you want to connect your wallet. The passphrase serves as a double security effect protecting your wallet both from physical attacks and from theft attempts. And the last piece of advice concerning Bitcoin safety is to use a two-factor authentication that provides the last security step. Following all these security measures will create a perfectly safe environment to store and manage your cryptocurrency.

Support

When it comes to the support aspect, you should pay attention to the number of currencies the hardware wallet is capable of working with. Nowadays, more and more cryptocurrency investors arrive at the conclusion that investing in several currencies is more rational. So, you should look for a wallet that is able to support at least few of the most popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin etc.

Did you know?

A brief Bitcoin history.

The Bitcoin appeared in 2009 but the origin of the technology it is based on began even earlier. Just imagine that if you had invested 1000$ in these crypto coins then, now you would have had almost 40 million dollars! The Bitcoin is known as the first established cryptocurrency in the world, but not everyone knows that in 1998 there were several attempts to create online currency. For example, B-Money and Bit Gold were actually formulated but not fully developed. Nick Szabo is a famous scientist and cryptographer who was investigating smart contracts and digital money in the 20th century. He designed special Bit Gold digital currency that further became “a direct precursor to the Bitcoin architecture”. In 2009 someone calling himself Satoshi Nakamoto presented Bitcoin software to the public. In few years, Bitcoin was valued for the first time, meaning that it could not only be mined but also traded. In 2010 there was a nice enlightening story when someone decided to use his bitcoins for the first time. He exchanged 10 000 Bitcoins for 2 pizzas having made the guy who gave him his pizza one lucky individual. Using current ratio, it would add up to more than $100 million. In 2013 Bitcoin reaches unbelievable numbers - 1000$ for 1 coin. Nowadays, this cryptocurrency remains the most popular and stable among thousands of competitors, continuing to grow in terms of price and popularity.

In the beginning, there was a pizza.

The first thing that was bought using Bitcoins was pizza. But where can we spend our cryptocurrency nowadays? Fortunately, the modern world develops with the course of time and tries to adapt to any innovations as soon as possible. So, today there are a lot more online and offline ways to spend your cryptocurrency. For example, some charity organizations accept Bitcoins, so you will be able to show mercy and invest your digital money wisely. Buying physical goods with Bitcoins is getting more popular as well, so there is an increased demand for online e-commerce sites. Сompanies like Microsoft and Green Man Gaming started to sell different apps and games for Bitcoins. Overstock.com offers all available products for sale in cryptocurrency. Concerning cafes and restaurants industry, more and more establishments worldwide are starting to accept Bitcoins and even some of them accept opting for cryptocurrency only. Traveling is also a great way to use your Bitcoins since you can book a hotel, rent a car, or even pay for your flight. The Expedia is a good example of a traveling website that accepts digital currency payments. Lots of people are also starting to purchase property with Bitcoins. Another interesting news is that Paypal announced its partnership with main Bitcoin payment companies such as GoCoin, BitPay, and Coinbase. Now, with the help of these three enterprises and their partnership, you can accept Bitcoins via PayPal Payments Hub. And that is just the top of the iceberg because more and more companies and businesses are beginning to accept digital currency every single day.

FAQ:

Q: How do Bitcoin transactions work?
A: Using a Bitcoin is extremely simple even for the least computer-savvy people. With hardware wallets, this process is much easier. In order to send bitcoins, you need to have access to the public and private keys first and foremost. The public key is actually an address of your wallet which is open for everybody who wants to send you a number of coins. While private keys are secure sensitive information which should be kept in secret. So, for a transaction, you need to use your private keys to send a message with the transaction details. Transaction confirmation usually takes some time because it should be verified on the blockchain by miners. And there is also one possible reason for a long confirmation time. There is one special rule that limits the number of transactions entering a block, so it slows down the whole process.

Q: How much is a Bitcoin transaction fee?
A: Transaction fee is a difference between the amount of Bitcoins spent and received. This fee is calculated using a variety of factors and differs depending on the amount of money you send. The transaction fee goes to the miners and can be used further to raise the transaction speed.

Q: What is a Cold storage?
A: All digital assets exist as data. So, any data that is stored online is much more vulnerable to some hackers or cyber-threats than the one that is stored in the offline environment. Cold storage in cryptocurrency space is a little bit different notion than in other spaces. This type of storage is great for long-term investments. As you probably understand, the most important thing to protect is your private key. So, in order to keep them in the most reliable space, there is a so-called cold storage (cold wallet). That means your sensitive information is stored in an offline environment protecting it from any possible theft. Such storage type is very popular among investors owing a great number of Bitcoins. Nowadays, the most popular cold storage options are paper wallets, hardware wallets, desktop wallets, and USB drivers. The best option is a hardware wallet as it is safe and secure, can’t be copied, and can be restored if the need arises.

Q: How to keep my recovery phrase safe?
A: The recovery phrase (seed) is needed in case you have lost or damaged your wallet and want to restore information, so that means it is extremely important to remember and keep it in secret. Many people just skip writing down this recovery seed, making a really big mistake. However, to prevent the loss of your investment, it is the first thing you ought to do. The best method to store your recovery phrase is not to do that in an online environment. Just write it down on a piece of paper and store it in a deposit box, for example. Or just write it and store at home but in a secure place; that is much better than keeping it online. Being smart and cautious concerning your wallet, password, and recovery seed can help you greatly reduce the chance of theft and keep your assets safe. So, don’t forget that you are the only person who is ultimately responsible for all Bitcoins you have.

Sources:

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Publish Date: 2018-02-02 13:25:16