We all know how safeguarding crypto is vital. Yes, many software wallets and exchanges offer convenience with quick access and solutions that are sought after for traders and beginner crypto investors.
But as cryptocurrencies gain popularity and value, their vulnerability to hacking and theft also grows. This is why hardware wallets, often referred to as cold storage, become an essential tool for anyone buying, selling, or trading crypto.
In this post, we aim to guide you through some of the best hardware wallets available in 2024.
Some are new to the market, while others are old classics. We have carefully selected each wallet to appeal to certain crypto investing strategies, whether you are a beginner and looking for simplicity, a day trader needing quick transactions, or a long-term HODLer searching for security, we’ve got you covered!
Which Hardware Wallet Is Best for You?
Beginner: Trezor Model One
Trader: SafePal S1
HODLer: Cypherock
dApp User: Ellipal Titan
Privacy & Safety-Conscious: Material Bitcoin
Best Hardware Wallets 2024: TOP ONES!
As we mentioned before, many hardware wallets are referred to as cold storage, but not all hardware wallets are truly cold wallets.
The best Bitcoin cold wallets must provide offline storage solutions, but the truth is that not all hardware wallets have that capability. Some have cables that connect to computers and other devices and to the internet to function.
We are here to give you the best hardware wallets, whether they are truly considered cold wallets or not.
Depending on your investment strategy, tech ability, and understanding, some options might be better for you than others.
🙅Remember, this is not a one-wallet-fits-all all kind of thing.
1. Material Bitcoin: Best Hardware Wallet for Privacy and Safety-Conscious Users
For users who prioritize privacy and security in their cryptocurrency transactions, Material Wallets stand out as a top choice. This hardware wallet is specifically made for the privacy-conscious digital investor, providing advanced features that safeguard both your identity and crypto.
It is also a highly sought-after option for those individuals seeking to store Bitcoin long-term, waiting for its value to increase, as there is no safer place than this.
🫰 Fees: The standard hardware wallet is priced at $94.99, and no other fees are applied to use the wallet for storage.
📱 Devices Supported: There is no set-up needed. Just simply scan the QR Code on the card and transfer your Bitcoin, Ethereum, or USTD to your designated Material Wallet.
🪙 Cryptos Supported: There is a standard card individually for Bitcoin, Ethereum, and USTD. Additionally, there is a separate steel cold card for your seed phrase storage for added security.
🛡️ Security Features: The safest option in terms of cold hardware wallets, it features advanced encryption to safely store your private keys and seed phrases for long-term investment solutions. For those who are looking for privacy, you can even buy any Material Wallet anonymously by selecting to pay in cash upon delivery. This means that your credit card and banking information is NEVER on the Material network.
👌 Ease of Use: It is extremely user-friendly and there is no set-up required. Just scan the QR Code and follow the prompts to send and store your crypto.
2. Trezor Model One Best Beginner Hardware Wallet.
If you are new to the world of cryptocurrencies, finding the right hardware wallet can be overwhelming, especially while adapting to the learning curve. The Trezor Model One is an oldie but a goodie. It stands out as a great choice for beginners due to its simplicity and great customer support.
🫰 Fees: The device is reasonably priced, costing $59. There are no additional fees for storing your crypto, but depending on the transactions you make, you might be charged blockchain fees.
📱 Devices Supported: Compatible with Windows, macOS, Linux, and Android devices. You connect the hardware wallet directly to your computer or mobile phone using a USB cable.
🪙 Cryptos Supported: Bitcoin, Ethereum (and all ERC-20 tokens), Cardano, Litecoin, Ethereum Classic, XRP, Dogecoin, plus a few other coins through the Trezor Suite app.
🛡️ Security Features: Fully open-sourced, and uses a secure 24-word seed phrase.
👌 Ease of Use: The interface is simple and intuitive, perfect for newcomers to the world of cryptocurrencies. Set-up is straightforward, as you are given prompts to follow.
3. SafePal S1: Best Hardware Wallet for Traders:
As a crypto trader, selecting the right hardware wallet is crucial for managing frequent and quick transactions. The SafePal S1 is our suggestion as it’s versatile and convenient.
🫰 Fees: You can buy the SafePal S1 FOR $49.99, making it one of the cheaper options on our list. There are no fees for storing crypto on the device but network fees do apply to crypto trades.
📱 Devices Supported: Compatible with iOS and Android, the perfect solution for on-the-go trading as you connect wirelessly by scanning a QR Code.
🪙 Cryptos Supported: Supports over 5000+ cryptocurrencies and has integrated Binance DEX features, along with other trading platforms, perfect for real-time transactions.
🛡️ Security Features: EAL5+ certified secure element chip that stores your private keys and offers seed phrase backup storage.
👌 Ease of Use: Known for its user-friendliness and simple navigation for trading.
4. Cypherock Wallet: Best Hardware Wallet for HODLers:
If you are looking for a safe place to store your crypto long-term, commonly known as HODL, then a crypto wallet that offers high security and longevity is ideal. The Cypherock Wallet is one choice, that stands out for HODLers, due to its security features and durability.
🫰 Fees: Priced at $159, it is an expensive hardware wallet compared to some others. There are no additional fees for storing your crypto but if you make transactions then blockchain charges will be applied.
📱Devices Supported: Both iOS and Android devices are compatible with Cypherock.
🪙 Cryptos Supported: Over 9000 digital assets are supported, including Bitcoin, Ethereum, and Ripple to name a few.
🛡️ Security Features: This is an unconventional crypto hardware wallet as it comes with 1x Vault and 4x Cards. The vault device is the electronic component and the additional cards are keycards, used to divide and store your private keys.
👌 Ease of Use: Although it provides an advanced sense of security, the initial set-up can be intimidating to some as you need to manage 5 physical components. But for a HODLer investor, it’s a one-time set-up and then you can set and forget for long-term storage.
5. Ellipal Titan Best Hardware Wallet for dApp Users:
For more advanced crypto users who interact with dApps, the Ellipal Titan is our pick. This hardware wallet is designed for users who regularly engage with dApps providing an “all-in-one” solution.
🫰 Fees: Retailing at $169, it is the most expensive hardware wallet on our list.
📱Devices Supported: Compatible with iOS and Android, it uses a QR Code for accessing the platform.
🪙 Cryptos Supported: You can manage over 10,000+ cryptocurrencies, and NFTs and interact with over 200+ dApps across various blockchains.
🛡️ Security Features: Famous for its “air-gapped” technology, the Ellipal Titan keeps your private keys separated from any online connection, adding an extra touch of security for those who are interacting with software apps like decentralized applications.
👌 Ease of Use: Has a large touchscreen that makes it easy to navigate and utilize various dApps directly from the device itself.
Hardware Wallets and Security
Securing your crypto begins with finding a cold hardware wallet that will aid in protecting your assets. But to maintain the highest security involves that you put safety best practices first.
Pro Tips for Keeping Your Crypto Safe
- Protect Your Seed Phrase
- Never share your recovery seed phrase with anyone.
- Store your seed phrase in a secure location, such as a safe or security box.
- Use a fireproof and waterproof physical wallet or card, like Material DIY.
- Use Strong PINs and Passcodes
- Choose PINs and passcodes that are difficult.
- Do not use common numbers or personal sequences, like birthdays.
- Regularly update your passcodes.
- Physical Wallet
- Use a hardware wallet and store it in a safe place.
- Restrict access to your hardware wallet. Physical control is critical as most hacking happens once the thief has possession of the device itself.
- Buy a Wallet from the Manufacturer
- Do not buy second-hand hardware wallets.
- Always purchase from the manufacturer directly and not from unauthorized stores or e-commerce sites.
- Verify its authenticity by checking that the package is sealed and includes proper production codes and identification.
- Interact with Software Platforms with Caution
- Only use trusted and official apps and platforms.
- If you are using a hardware wallet that needs to be connected to a phone or computer with a cable, be aware of where you use it and connect only to a trusted internet server.
By applying these best practices, you will contribute to an active role in securing your crypto.
The Takeaway
At the end of the day, you are in self-custody of your keys and crypto. However, utilizing one of the best hardware wallets for your style of investing is a crucial step.
| Hardware Wallet | Material Bitcoin | Trezor Model One | SafePal S1 | Cypherock Wallet | Ellipal Titan |
|---|---|---|---|---|---|
| Price | $94.99 | $59 | $49.99 | $159 | $169 |
| Fees | No additional fees | No additional fees | No fees for storage; network fees for trades | No additional fees | No additional fees |
| Devices Supported | No set-up required; scan QR code | Windows, macOS, Linux, Android | iOS, Android | iOS, Android | iOS, Android |
| Cryptos Supported | Bitcoin, Ethereum, USTD | Bitcoin, Ethereum, Cardano, Litecoin, XRP, Dogecoin, and more | 5000+ cryptocurrencies, Binance DEX | Over 9000 digital assets | 10,000+ cryptocurrencies, NFTs, and 200+ dApps |
| Security Features | Advanced encryption; anonymous purchase option | Secure 24-word seed phrase; open-source | EAL5+ certified secure element chip; seed phrase backup | Vault device + keycards; high durability | Air-gapped technology; private keys kept offline |
| Ease of Use | Extremely user-friendly; no setup required | Simple interface; straightforward setup | User-friendly; wireless connectivity | Advanced security; one-time setup | Large touchscreen for easy navigation |
| Recommendation | Best for Privacy and Safety-Conscious Users | Best Beginner Hardware Wallet | Best for Traders | Best for HODLers | Best for dApp Users |
Material Wallets provides an overall rounded and secure crypto cold wallet for many of the diverse crypto investing strategies: it is easy to use and great for beginners, it is physically strong and resistant to damage, maintains privacy and anonymity, and lastly, it is never connected to the internet, keeping your keys offline.
FAQs on Hardware Wallets
Is Ledger the best hardware wallet?
- Ledger wallets are highly regarded, making them a top choice. But we decided to keep it off of our list for 2024 since the “best” wallet depends on your individual needs and preferences. And, we think there are better options available for those needs.
Which crypto hardware wallet is the best?
- The best hardware wallet depends on the features that are most important to you.
Are hardware wallets 100% safe?
- Nothing is ever 100% foolproof, but hardware wallets are the safest option for storing cryptocurrency because most of them use offline storage. But keep in mind your actions and interactions to also maintain the safety and integrity of your crypto.
Which crypto wallet is the safest?
- Physical hardware wallets that do not connect to any device are always going to be the highest in safety. Material cold card wallets offer this option for safeguarding your BTC, ETH, and USTD.
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