In the Defi world, a user needs no personal identification to interact with the system. A user only needs their crypto address via which they can take part in the decentralized world. To have that crypto address, users need to create their identity via the crypto wallets. Crypto wallets are essentially a place to store a user’s private key, hold assets for them and act as their destination in web3.
Storing a private key is one of the crucial elements of the Defi world. If the key get’s compromised, it will lead to hacking/ theft of the stored crypto tokens on the wallet address. And hence, it becomes essential to choose safe and secure wallets which don’t easily get compromised by any attempt of hacking and theft.
You can also read about the differences between private and public keys here.
One such type of wallets are Hardware wallets. These are essentially hardware devices that store and keep the private key offline, without any connection to the internet. These are the most secure wallets which have minimal risk of hacking and theft. Most hardware wallets use standard EAL5+ chip technologies secured against penetration attacks. They are separated in terms of how the private key is stored and how they would connect to the internet to their application for conducting transactions. People with huge amounts of crypto assets prefer these wallets over any other form of crypto wallets.
Here are the top 5 crypto hardware wallets in 2022:
Ledger Nano, introduced by the parent company Ledger is one of the gold standard wallets in the market. The wallet supports close to 2000 crypto tokens. The other similar wallet version is Leder Nano S. The wallet comes with industry-specified security features and CC EAL5+ Certified chip. Ledger Nano X and S also support integration with web3 wallets such as Metamask, allowing users to access various Defi platforms. The wallet has a live desktop application to make the process easier. The wallet costs around $120 per wallet. The wallet also has an inbuilt crypto management support system with a USB connectivity option for users.
One of the easiest wallets that require no prior knowledge of setting up, Trezor is the pioneer in the hardware wallet industry operating since 2013. It is possibly one of the few wallet providers that haven’t seen any major attacks on the platform. This wallet comes with a touch-enabled screen, and with SD card storage which makes the processor faster. It allows connecting USB to the Laptop and an Exodus mobile wallet to carry out transactions. Trezor can also be used with the online Trezor web wallet on desktop or mobile, or via the downloaded Trezor suite app on the desktop. The wallet supports over 1000+ cryptocurrencies. The wallet can be connected with a USB cable too. The wallet is available in the range of $60-$200 per wallet.
Ellipal Titan is one of the best-designed crypto wallets available in the market with water and dustproof technology. The platform supports over 40+ blockchains covering 10,000+ coins. The wallet relies on QR code technology to transfer data. It works seamlessly through its application allowing it to perform transactions. It allows a user to stake and earn interest on the coins held via its application. As the wallet doesn’t support any internet connection available, it is completely protected from attacks and hacks. According to the company, they have also created a universal OCCW (Open Cross Chain Wallet) Protocol which allows the wallet to support multi-chain account systems and multi-cryptocurrency. The wallet also has an anti-breach system which helps delete the keys once some breach is detected. The wallet is available for $119 per wallet.
One of the most affordable hardware wallets in the market, KeepKey is an integrated hardware wallet with the shapeshift platform. Each device generates a 12-word recovery sentence during initialization that can be used to retrieve the private keys. The wallet provides a large display that gives clarity to every digital asset sent and received on the device. The wallet allows quick exchange of cryptocurrencies via the ShapeShift integration. It supports close to 50 cryptocurrencies and is available for purchase at $49 per wallet.
In SecuX wallets, the private key and PIN are stored in the military-grade Infineon SLE Solid Flash CC EAL 5+ Secure Element which helps protect both the private ket as well as the PIN. SecuX web and mobile apps help manage, send, and receive digital assets anytime, anywhere. The wallet supports both USB and Bluetooth connectivity. It also comes with a 2.8-inch color touch screen display which makes it easier for the user to access the wallet. The platform supports over 1000+ cryptocurrencies and has the option to access over 500+ accounts. It is available in the market for as low as $139 per wallet.
Here is the summary table comparing the top crypto hardware wallets.
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