The 4 Best Hardware Wallets For Bitcoin of 2020 ( + Altcoins Supported)

bitcoin hardware wallet
Best Bitcoin Hardware wallet ComparedRating
Ledger Nano X (Recommended)9.8/10
Ledger Nano S9.6/10
Trezor Model T8.2/10
Cobo Vault8.4/10

More and more people are joining the realm of Bitcoin each day.

While some are happy storing their coins in software or desktop wallets, some want to use more secure wallets. And if you are a long-term investor, this is not a bad idea. However for long-term ‘HODL’ you should use a paper wallet or a Hardware wallet.

I personally endorse using Hardware wallet as it offers great security as well as you can even use it for your day to day transactions.

Hardware wallets promise enhanced security against software wallets in the case of theft or scams. Moreover, your coins are safe even if your computer is hacked or someone stole your Hardware wallet. If you lose your hardware wallet, you can always restore all your coins on a new wallet.

Important point: Without knowing your secret pin code, no one can transfer Bitcoins or other coins from your hardware wallet. More than that, no spy screen recorder or Trojan can record what’a happening on your Hardware wallet, as it’s a not using your laptop or system resources & have a dedicated LCD screen. More on this in the below section:

What is a Bitcoin Hardware Wallet?

Bitcoin hardware wallets are a tamper-proof electronic device designed to store private keys of your coins in an offline setting. The private keys and digital signatures needed to spend bitcoins are generated via these wallets.

Like the way you set up any wallet, you need to write down the seed word (recovery phrase) on a piece of paper and store it in a safe place. Prefer making 2-3 copies & distribute it.  And as your keys are offline, there is no possibility of getting hacked.

At the time of this writing, there has been no reported theft or loss of bitcoins from a hardware wallet. Some hardware wallets have security grid cards, and some have a little digital screen with a user interface to verify transactions.

Even in the case of damage to your hardware wallet, you can restore your bitcoins easily with the recovery phrase.

Note: Bitcoin hardware wallets were invented after Bitcoin was born. At present, you can store other cryptocurrencies in these wallets as well (ETH, LTC, DASH,etc.).

If you want to store Bitcoin & other Cryptocurrency secure for the long-term, then you should definitely order a hardware wallet. Since most of these hardware wallets have a waiting period of a month or two due to huge demand, you should order one as soon as possible.

If you are looking for a single recommendation as the best Bitcoin hardware wallet, then you should look no further than Ledger Nano X. If money is not an issue, I would suggest ordering 2 of them at the same time. I have explained the reasons here.

Best Hardware Wallet for Bitcoin

1. Ledger Nano X (Order here)

Ledger Nano X is the latest hardware wallet by Unicorn of hardware wallet Ledger.  The beauty of Ledger wallet lies in its State-of-the-art Security which is possible with the help of 2 chips. Ledger Nano X is the perfect union of hardware security and mobility. The Bluetooth feature will let you use this hardware device on the move with your phone or laptop, without using a wire.

The reason why the world is going crazy about this hardware wallet is because of its ability to hold multi-crypto currency at one time. In the earlier version of Ledger (Nano S, which is mentioned below), we had to manually install/remove the apps to use a specific wallet, in Ledger Nano X, you can install multiple crypto wallets at the same time.

Features of Ledger Nano X:

  • Size: 72mm x 18.6mm x 11.75mm Weight: 34g
  • Stainless steel and plastic
  • 100mAh battery
  • Store multiple cryptocurrencies at the same time
  • Easy to use
  • Free shipping
  • Login to DEX like Binance

Some of the popular crypto wallet available in Ledger Nano X are:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Litecoin
  • Monero
  • Ripple
  • Neo
  • Binance Coin
  • ERC20 Tokens
  • 100+ Cryptocurrencies

If you are looking for a single recommendation for buying the best hardware wallet, Ledger Nano X is the best choice this year.

2. Ledger Nano S

Ledger Nano S

Another popular hardware wallet by Ledger team. The Ledger Nano S is a product of a France-based startup. It has a sleek and attractive European touch to its design.

Some of its core features are the backup seed key for recovery of your bitcoins, the easy to use OLED interface, and a flash drive like feel with two buttons on the side for navigating the interface.

It is a battery-less device which you can connect to a PC or mobile device via USB. Here is a video guide by Harsh Agrawal on how to start using Ledger Nano S.

The Ledger Nano S now supports nine cryptocurrencies (including Bitcoin) and is also the cheapest multi-currency hardware wallet available ($65). However, my suggestion is to purchase the Ledger Nano X which is the modern version of Ledger Nano S.

3. Trezor

The Trezor Bitcoin hardware wallet pioneered the era of hardware wallets. Created by SatoshiLabs, it is the world’s first secure Bitcoin hardware wallet.

It looks like a small calculator with an OLED screen. Randomly generated nine digit pins and a 24-word recovery seed key ensures security in case the device is lost or damaged. Its purpose is to store private keys and sign transactions offline.

You can use the Trezor wallet with Android devices and with apps such as TREZOR Wallet, Mycelium, and Multibit HD. Here is a video tutorial series by our CEO Harsh Agrawal on how to start using Trezor.

Trezor now supports eight cryptocurrencies (including Bitcoin) and costs $99.

4. KeepKey

KeepKey

KeepKey is another hardware device available in the market for storing bitcoins.

It doesn’t offer much in comparison to the Ledger Nano S or Trezor. Moreover, it is more than two times in size than its peers, and not so convenient to carry in your pocket.

It has the same backup seed key feature with pin code enabled, and it works like the other wallets. At present, it supports six cryptocurrencies (including Bitcoins).

It also comes with a $99 price tag.

Consider reading these comments and reviews about KeepKey on Reddit and Amazon.

Ledger Nano S vs. Trezor vs. KeepKey (Comparison)

 
Ledger Nano S
Trezor
KeepKey
What’s in the box?
  • Ledger Nano S
  • USB cable
  • Instructions
  • Recovery sheet
  • Keychain
  • TREZOR
  • Micro USB cable
  • Recovery seed booklet
  • User guide
  • KeepKey
  • Nylon USB cable
  • Recovery backup card
  • Quick start guide
Dimension & WeightHeight: 98 mm

 

Width: 18 mm

Depth: 9 mm

Weight:16.2g

Height: 60 mm

 

Width: 30 mm

Depth: 6 mm

Weight:12 g

Height: 38 mm

 

Width: 93.5 mm

Depth: 12.2 mm

Weight:54 g

OLED Display & ButtonsYesYesYes
CompatibilityWindows (7+), Mac (10.8+), LinuxWindows, Linux, OS X (10.8 or higher).Windows, Mac, and Linux
Cryptocurrencies
  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Ethereum Classic
  • Ripple
  • Litecoin
  • Dogecoin
  • Zcash
  • Dash
  • Stratis
  • Komodo
  • Ark
  • PoSW
  • ERC20 tokens
  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Ethereum Classic
  • Namecoin
  • Litecoin
  • Dogecoin
  • Zcash
  • Dash
  • ERC20 tokens
  • Bitcoin
  • Ethereum
  • Litecoin
  • Namecoin
  • Dogecoin
  • Dash
Buy NowBuy Ledger Nano S NowBuy Trezor Now Buy Keepkey now

Cons of Bitcoin Hardware Wallets

While the brighter side of hardware wallets is that they keep your keys safe offline, they also come with some drawbacks. For instance, if you forget or misplace your recovery seed key and/or PIN code, then you can’t access your coins.

So you need to always remember your PIN code.

You should also write your backup seed key on a piece of paper and keep it safe. I recommend you to make 2-3 copies of this key and keep all of them in different places.

The Best Bitcoin Hardware Wallets

Overall, having an offline storage space for your cryptocurrencies is a really smart thing to do.

So let us know: Which Bitcoin hardware wallet are you using?

Let us know in the comments below!! Have a question about Bitcoin hardware wallets? Ask us in the comments!

Happy reading, learning, and sharing with the coinsutra.community!

Here are a few hand-picked guides for you to read next:

68 thoughts on “The 4 Best Hardware Wallets For Bitcoin of 2020 ( + Altcoins Supported)”

  1. OK if you compare Trezor and Ledger which one is better? I have found a numerous sources where both are stuck like the best decision but I am still not sure what should I choose to protect my tokens. Next question is how many should I buy? I am completely sure that one won`t be enough but not really sure if I am going to need 5 or less. How many do you have? All of them are different or the same?

  2. Hi there, some time has passed since you wrote this very informative article- I was wondering if you still thought the Ledger was the best? I am thinking of maybe investing in EOs but I don’t think Ledger supports it – What would you suggest? Many thanks!

    1. Yeah, but we do keep updating it. And yes, EOS was supported previously by Ledger and they added it back again.
      Also, Ledger is still the best wallet in the cryptosphere.

      1. Thanks Harsh.
        Just a few more questions…
        Do you trade directly from the Ledger?
        I was wondering how you set an order to sell at a specific price (or buy) from your wallet, does it then need to be left inserted in your phone or laptop all the time…I would imagine this would make it less secure?
        Many thanks for taking the time to respond!

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Signup to our Newsletter

Join the community of subscribers & get exclusive Crypto tips & tricks

logo@2x
Howdy, Welcome to the popular cryptocurrency blog CoinSutra. Here at CoinSutra, we write about Bitcoin, wallet management, online security, making money from Bitcoin & various aspects of cryptocurrencies. You can read more about CoinSutra on the “About” page.
Scroll to Top
291 Shares
Share via