A Brief Review of the 5 Most Popular Hardware Wallet Models
What are Hardware Wallets?
Hardware wallets are tools that help asset holders ensure the security of the assets and Private-Public Keys.
Software wallets are wallets that are utilized through an internet connection and help safely store assets traded from various cryptocurrency exchanges, like Bitkub, which provides a software wallet for users to secure their assets safely as well as their keys.
Benefits of Hardware Wallet
Using hardware wallets does not require internet connection, completely eliminating the threat of online security breaches. More importantly, PIN Codes are often implemented for a second layer of safety, making users’ Private Keys safe and able to be recovered with their Recovery Seeds/Phrases, which are used like Private Keys.
Hardware wallets can manage numerous Private Keys, meaning they can store a large variety of digital assets as well.
The size of hardware wallets can be as big as USB/flash drives, making them highly portable and compact.
Suitable for long-term holders
With their security and durability, hardware wallets can be different form software wallets that rely on fast-functioning utilization, making them suitable for holding and storing assets.
Review: 5 Popular Hardware Wallet Models
Can be used on mobile devices and computers. Users can trade over 100 variants of digital assets, making them highly popular amongst the new generation of traders as they are easy to use and comes with a manual
Nonetheless, Exodus does come with limitations in terms of the limited use cases and functions, making them suitable for investors new to cryptocurrency and quick-access usage.
An application that acts as a wallet specifically for Bitcoin as it can only store this currency. Mycelium's main feature is the ability to adjust the speed and fees in transactions in accordance with its user’s demands.
Electrum distincts itself from others with its security measures that rely on the 2 Factor Authentication (2FA) safety layer, progressing it to become a highly coveted piece of equipment. Electrum is suitable for Bitcoin holders as it has an implemented window just for Bitcoin, but can also handle other cryptocurrencies.
Nonetheless, Electrum can be considerably difficult to use for some users as it employs a system created ever since 2011 without any additional developments, which can be confusing and complex for some users.
Ledger Nano S
One of the first hardware wallets to have been created by Ledger. Its main feature lies in the ability to hold up to 1,000 variations of cryptocurrencies with up to 18 storage slots. However, its fault is displayed in the inability to connect to new generation equipment as it lacks slots for USB-C connection or Bluetooth.
Trezor Model T
With a touch screen feature, the Trezor Model T has been recognized as one of the easiest to use hardware wallet models in the market. It is also equipped with a MicroSD card for increased security wherein users can input their PIN codes. The model also provides a slot for USB-C connection and can handle up to 1,400 variants of cryptocurrencies.
In summary, the provided information is the basis of the five majorly popular hardware wallets on the market which can be purposeful for users looking for safe and convenient means of securing their assets. Investors are advised to choose with discretion and selection that suits their particular needs and preferences.