Hardware wallets for crypto currencies are considered the most secure method of storing tokens, altcoins and bitcoin currently. Storing crypto currencies (data) on devices not connected to the internet is highly recommended by cryptologists to protect against hackers. This is referred to as a cold storage wallet. Hot storage wallets are connected to the internet (laptop wallets, iOS and Android)
Paper wallets for storing crypto currencies is the only possible “more secure” way to store large amounts of bitcoin or altcoins. Creating and storing paper is the trade-off that leads most hodlers to use hardware wallets instead of desktop, iOS or Android wallet options.
Storing a small amount of crypto on hot storage wallets is fine for most hodlers. Large amounts of bitcoin and altcoins are almost always kept in hardware wallets or paper wallets to remove your money from online accessibility.
More than a few hardware wallets have hit the market over the years and they’ve quickly become “essential” items for people in crypto. The top two in popularity are Ledger Nano S and Trezor. Both are considered great storage devices and the “favorite” between these two options appears to depend on personal preferences.
Check out the coin capacity differences, storage methods and price comparisons on our Trezor and Ledger reviews.
The only other cold storage wallet option, in our opinion, is on a hard drive not connected to the internet. This can be done for free with the bitkey wallet using a flash drive or external hard drive that you own. It requires a little extra effort with setting up and storing, then updating it every once in awhile, so for the lazy people the big two hardware wallets for sale work just fine.
It should also be noted that KeepKey is a hardware wallet available that appears safe and there are a few satisfied customers using this option. The only benefit appears to be a lower price point of $50, with Nano and Ledger being double the price.
The problem we have with KeepKey is customers asking for updates and complaining about their customer service. If Ledger and Trezor are going to stay on top of hard forks and changes in crypto currency, that customers want, then the big two devices in wallets will keep being recommended to others by everyone.