When it comes to storing cryptocurrency private keys, you’re generally best off using a remote storage solution. This safe and secure method is often referred to as cold storage. Cryptocurrencies placed in cold storage are completely offline and disconnected from any automated system.
Remember: Your private keys are for your eyes only. Never share them with anyone, even if they ask. Public keys can be shared with others.
The most popular cold storage solutions are hardware security modules (HSMs). You’ll often see these referred to as hardware wallets or cold wallets. At Nugget’s News, we’ve had a lot of experience with hardware wallets. Below are the ones we feel are the best at securely holding your private keys.
Ledger is a company that builds security and infrastructure solutions for cryptocurrencies and blockchain technology. Its Ledger hardware wallets line are sold all over the world. The company was founded in 2014 and has won a string of awards for its Ledger hardware wallet products.
Ledger Nano S Wallet
Despite being released in late 2014, the Ledger Nano S is still one of the world’s most popular hardware wallets. Why do crypto investors love the Ledger Nano S? Its reputation and exceptional track record when it comes to security is a big reason why cryptocurrency investors prefer the Nano S.
Another reason why the Nano S is so widely sought after is that it can hold over 1,000 cryptocurrencies including bitcoin (BTC), ether (ETH), and Ethereum-based ERC-20 tokens. The device itself is protected by a PIN and connects to your computer via USB.
Ledger Nano X Wallet
The latest hardware wallet by Ledger, the Ledger Nano X delivers various improvements over the earlier Ledger Nano S device. This includes Bluetooth compatibility, additional storage, and a larger screen. Because of these improvements, you’ll typically see the Nano X retailing for nearly double that of the Nano S.
Watch below for Nugget’s News founder Alex Saunders’ step-by-step guide to setting up a Ledger Nano X hardware wallet.
Trezor is a line of crypto hardware wallet devices made by SatoshiLabs. All Trezor devices are CE and RoHS certified. SatoshiLabs was founded in 2013. Trezor is SatoshiLabs’ flagship product.
Trezor One Wallet
Like the Ledger Nano S, the Trezor One is one of the oldest and most reputable crypto hardware wallets. It’s generally considered a wallet that’s designed to be beginner-friendly—all without compromising on security, of course!
The Trezor One features PIN protection, an in-built screen, USB connectivity, and seed phrase recovery. These features are typical of most cryptocurrency hardware wallets. Over 1,000 cryptocurrencies are supported by the Trezor One.
Trezor Model T Wallet
The Trezor Model T is the premium model of the Trezor One. Distinguishing it from the Trezor One is a full-colour touchscreen and additional security (i.e., Shamir Backup instead of the single recovery seed backup). The Trezor Model T also supports many more cryptocurrencies than the Trezor One.
The Trezor Model T is typically three times the retail price of the Trezor One. To reduce the per-unit cost of a Model T hardware wallet, Trezor sells multi-packs. If you plan on gifting a couple of Model T devices or know of others wanting to buy one, multi-packs represent a cost-effective solution.
With a KeepKey wallet, you can send, receive, and store more than 40 of the most popular cryptocurrencies. The maker of KeepKey is ShapeShift, a crypto company that offers a variety of products and services.
The size and weight of a KeepKey are larger than Ledger’s and Trezor’s hardware wallets. Because of this, the dimensions of the KeepKey’s OLED display is bigger than any of the above. This is particularly helpful for vision-impaired users.
One benefit of owning a KeepKey is the fact it’s fully integrated with the ShapeShift Platform, a web-based interface for managing your cryptocurrencies. A KeepKey hardware wallet retails for a price similar to a Trezor One or Ledger Nano S.