The best Hardware Wallet! Hardware Wallets Comparision 2021

Best Hardware Wallet

When you invest in crypto currencies, you want to be able to store your coins safely. At home you can easily deposit cash at a bank, they will make sure it is safe. In the crypto world this works differently, and you will for example use a hardware crypto wallet.

Crypto coins can be stored on so-called wallets, including the hardware wallet. The hardware wallet is the safest of all wallets.

Using a hardware wallet in 4 steps

1 - Choose a broker: Look for a broker that offers cryptocurrency (we recommend eToro!)
2 - Deposit money: Place money on your account and start immediately
3 - Choose crypto: Look for the coin that you think will deliver potential growth
4 - Store in your hardware wallet: After the transaction, you send and store the coins in your hardware wallet

Do you already have an idea which coin you find interesting? Click on the green button to get it!

In this article we will help you to safely store the coins you just bought. We do this by giving some more information about a specific crypto wallet, namely the hardware wallet. We also highlight what the advantages and disadvantages are and where it is available.

What is a Hardware Wallet?

A hardware wallet is, as it were, a physical device on which you can put various blockchains to keep your crypto safe.

It is important to note that this concerns a blockchain and not the cryptocurrency itself. A hardware wallet actually stores the personal key you need to access the blockchain.

This key is called the private key and ensures that you can trade your tokens and crypto in a very safe way. So they are not only used for storage, but you can also use the hardware wallet to carry out a transaction.

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The nice thing about a hardware wallet is that it is usually not only suitable for one type of coin, but it accepts multiple types of crypto coins at the same time.

So if you choose, for example, Bitcoin, Ethereum or another alt, the good thing is that you can store them all in one location. But aren't there also software or online wallets where I can store them?

Yes, but a hardware wallet is all about security. It is like an extra layer of protection, which drastically reduces the chance of cyber attacks and phishing. Of course, there are also other specific wallets for these coins, such as the Ethereum wallet and the IOTA wallet.

Do you already know which crypto you want to invest in, but you still need to buy a hardware wallet? In this article we will take a closer look at the big market leaders of hardware wallets and we will also give some tips on hardware crypto wallets.

How can I use a hardware wallet myself?

Before you can use a hardware wallet, you will need to own cryptocurrency. For many beginners, this is a big step because they do not know where to start.

In the step-by-step plan below we will explain to you how to make your first investment. Have you received your first coins? Then all you need is a hardware wallet where you can safely store your coins.

Step 1: Choose an online broker
Step 2: Create an account

Step 3: Deposit money
Step 4: Find a suitable product

Step 5: Store the crypto currency in the hardware wallet
Start directly with eToro

Step 1: Choose an online broker

Nowadays there are many online brokers where you can trade crypto, stocks and other commodities. Our tip is to make a good choice, because it can be a hassle to change broker after a while.

But don't worry, we will help you choose a broker by giving you two different options. In this article, we zoom in on two popular brokers: eToro and Capital.com.

Have you heard of another broker recently and want to know more about it? Then check out the review and experiences of some other big online brokers: eToro, Plus500, Binance and DeGiro.

eToro

One of the popular brokers is eToro. The broker has been around for a very long time and has a lot of experience with different trading products such as crypto currencies, stocks commodities, currencies, CFDs and ETFs.

eToro is a social trading platform. This means that here you have a social aspect, such as reactions of users to shares, but also a copy trading tool.

eTorod

Users get a profile on which their trades are visible, and you can copy these if you wish for your own trades.

Trading at eToro is for shares and ETFs at 0% commission, and on the other products they charge a minimum percentage of expenses.

If you are new to eToro, you are welcomed with a demo version. Here you can practice with a fictitious amount of €100,000. So you can immediately see if you are a good trader or learn how to become one!

Are you ready to really start? Then eToro uses a low minimum deposit of only €42. This way, you don't have to empty your entire account straight away.

A reliable broker is always regulated by a third party, and so it is with eToro. eToro is audited by the FCA (Financial Conduct Authority) and the CySEC. They have also ensured that with eToro it is possible to trade in Europe.

Within a few clicks you can start investing in crypto on your hardware wallet!

Libertex

A major competitor of Capital: Libertex. This CFD specialist has been in the business for years.

At Libertex you invest in CFD's on numerous products (250+) such as all known crypto currencies, stocks but also ETF's, commodities and currencies. Libertex has millions of users and is very active in, for example, the sponsorship of football clubs.

It is regulated by the CySEC, and with years of experience and multiple broking awards in recent years, it is clear that investing with Libertex is an excellent and reliable choice.

Libertex is also on the list of recommended brokers. Register now!

Capital.com

Another broker is Capital.com. The broker has only existed since 2016 but has experienced enormous growth and specialises in CFDs.

capital.com logo

Capital.com is especially advantageous for beginners because the platform is very clear and user-friendly. They also offer various tools which makes analysis very easy.

Part of the company is based in Cyprus where it is also supervised by the CySEC (Cyprus Securities and Exchange Commission). This makes it possible for Capital.com to be used in Europe.

It is also regulated by the FCA which allows the broker to prove its safety.

At Capital.com you can trade various trading products including stocks, currencies, commodities, ETFs, cryptocurrencies and indices. All this in the form of CFDs.

Capital.com is also on the list of recommended brokers. Take a look!

Step 2: Create an account

If you have chosen your broker, you will also have to create an account to get started. At most brokers, this process will be similar, but we use eToro as an example.

Click on the green button opposite and enter your email and password. Then click on start now and you will receive an email to confirm your account.

Once you have confirmed the account, you get instant access to your demo account. To start trading for real, you will first have to put money into your account.

Step 3: Deposit money on account

In this step, we will explain how to put the money on your account. When you want to do this, you first have to go through a verification process.

In this process, you will have to link your bank account to your account and upload a copy of your ID. This is a moment of verification from eToro, to see if the account is really yours.

Then you will receive a questionnaire in which you must indicate whether you already have experience with investing and the risks will be discussed again. If approved, your account is verified and you can start.

The minimum deposit amount at eToro is €42. This can be easily transferred via various payment methods including PayPal and iDEAL.

Step 4: Find a suitable product

Go and search for the coin you want to invest in. You can do this easily via the search bar on the left at eToro.

Here you can also filter on cryptocurrency, which gives you an overview of all possible crypto currencies that eToro offers.

The best known cryptocurrency is Bitcoin, but in total eToro has almost 30 crypto currencies.

Step 5: Store the crypto currency in your hardware wallet

Keeping your crypto coins safe and secure can be done by transferring them from the eToro web-wallet to a hardware wallet.

You can choose to remove them from the hosted wallet of your broker and put them directly on your hardware wallet. This way, they are safer and nobody can access them through the Internet.

Start trading crypto currencies with a free eToro account!

How does a Hardware Wallet work?

As mentioned before, cryptocurrencies are never stored in the hardware itself. Cryptocurrencies always store themselves on a certain blockchain like the ETH or BTC blockchain.

The hardware wallet is in possession of its own personal key. You need this key to gain access to your address on the blockchain.

Because this hardware wallet is separate from your computer and physically tangible, it cannot be hacked or come in contact with the internet, making the hardware wallet a lot safer than a mobile or software wallet.

Because the private keys are secured with a pincode and have their own password, it is almost impossible for another person to retrieve these private keys.

Another advantage of the hardware wallet is that it can also sign and confirm transactions. Your 'signature' is actually the confirmation of your private key.

Again, because this is a physical device, it is impossible to access the private key and eventually forge the signature. A transaction can then come from no one but you.

Best Hardware Wallet

There are several brands that offer a hardware wallet. The two market leaders are the Trezor Hardware Wallet and the Ledger Hardware Wallet, which are also considered the best hardware wallets.

Below we will discuss these two wallets in more detail and list their pros and cons. Did you already make a choice and do you want to buy the hardware wallet right away? Then read 'Buy hardware wallet' below to see where they are available and what you have to pay attention to.

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The Ledger Nano S is the most widely used and best hardware wallet worldwide, and there are many reasons for this. First of all, it is a very compact device, so you can easily take it with you wherever you go.




Ledger Nano S

Managing your crypto is best done through the Ledger Live, which is available for both mobile and desktop.You can easily connect to it with an OTG USB cable.

In principle, the Ledger hardware wallet supports all standard functionalities such as sending and receiving assets. It is also possible to export exchange integrations and a public key with the Ledger Hardware Wallet.

Benefits

The Ledger Nano S is not the favourite of many traders for nothing. It is an easy, simple device which is very nice to use and perfect for beginners.

In addition, many crypto currencies such as Bitcoin and Ethereum support the wallet and you can quickly and easily add the coins to your Ledger Hardware crypto wallet.

The price of the Ledger nano S is low. You pay only € 59 for a hardware wallet, which ensures that your coins are safely stored in any case and at any time.

Disadvantages

On the other hand, the Ledger hardware wallet has a low flash memory. If you only trade a few crypto coins, this should not be a problem. But the moment you trade several crypto currencies, it can be quite annoying.

Each coin has its own app, and the low flash memory makes it difficult to have many of them on your device. So it can happen that you have to remove an app because you have no memory.

Do you want to make a transaction with this coin later on? Then you will have to download it again and delete another one. It is annoying, but that is really the only downside of Ledger Hardware Wallet.

Also nice to know, is that your coins will not be lost when you remove the app. The app is only used for the transaction between the coins.

Ready to start investing in crypto currencies? Then start at our recommended broker eToro!

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Benefits

The other best hardware wallet that also falls within the selection of user-friendly wallets is the Trezor One. This is a very small device which means you can use it anywhere at any time.

Trezor One

It is compatible with both desktop and mobile wallets. This makes it very easy for everyday use.

To access these devices you must first connect the Trezor One to the computer where you also have to enter a PIN code. So it's not possible to access the wallet without the Trezor One hardware wallet, which offers extra security.

The strength here is mainly in the ratio of the software and the price. The software has been around since 2014 and has developed more and more over the years.

It is a very simple, user-friendly and compact device for only a price of €59, which is why the Trezor hardware wallet is a popular alternative.

Disadvantages

Also with the Trezor One the disadvantages are not very big, but this also depends on the kind of trader you are. Trezor also has a Trezor Model T that offers even more features, but you do have to pay something for that.

As mentioned before, the Trezor One is a very compact device, which is perfect for beginners. If you're a big trader, that might be a downside.

The Trezor One model is very small, which could be annoying if you trade a lot of cryptocurrency every day. The Trezor T, on the other hand, offers a larger screen with a touchscreen and features.

It also supports many individual coins and has an open-source firmware. But you pay a nice price for that (€180).

Registering an account at eToro is completely free!

Buy Hardware Wallet

Hardware wallets are very easy to obtain through a webshop, but we recommend ordering them through the website of Trezor or Ledger themselves.

Above are two of the best known hardware wallets that have a lot of functions. When you receive the hardware wallet, you need to install it first.

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Before you open the package with full enthusiasm, it is at all times important that you check whether the package is still unopened and the recovery sentence that you receive with it, has not yet been filled in on the piece of paper.

This has to do with past practices in which fraud was committed when providers of eBay Hardware sold wallets. Here, the recovery sentence was already filled in on the recovery sheet, and it should still be empty upon receipt.

This is because it is an extra security measure for your physical wallet. Should your physical wallet ever be stolen, then you can retrieve the cryptocurrencies on this wallet by using the recovery sentence.

Installing Hardware Wallets

With Trezor, Ledger or other hardware wallets, the installation process will be similar everywhere. As an example, we will take the Ledger Nano S, the best-selling version in the world.

  • Connect your Ledger Nano-S to the computer with a USB cable.
  • The two buttons on top of the Nano-S are the navigation buttons. Press them both.
  • Then you will be asked if you want to configure a new device. You can easily confirm this by pressing the second navigation button.
  • After this you enter a pin code that secures your hardware wallet. This is also done by using the navigation buttons.
  • Confirmation of the code is also done by pressing both navigation buttons. If in the future you find yourself in a situation where you have to accept or start something, you will always have to press these two buttons simultaneously.
  • Step 5 brings you to the recovery sheet. This is the moment when you select unique words that only belong to your Ledger. You write them down on the recovery sheet and keep them in a safe place. You use it when you lose your physical device, so it's not possible that it's already filled in when you receive it.
  • Your installation is complete and your hardware wallet is ready to be used.

Tip: To fill your hardware crypto wallet you need crypto. Do you already know which crypto you want to invest in? Open your demo account at eToro and practice your trading skills!

Tips before buying a Hardware Wallet

Although we already released some tips in this article, we have a few more that are guaranteed to help you when you want to buy a hardware crypto wallet. Take a good look at a hardware wallet review and buy your hardware wallet online today.

Recovery seed

First of all, the important recovery sentence, also known as the recovery seed. Always make sure this seed is not already filled in when you receive your hardware wallet at home.

Buy the hardware wallet on the site of the brand itself, so you know you are always safe.

If you have written down the recovery seed, keep it in a place where nobody comes or can never lose it, like a safe.

If there is one thing we want to avoid, it is losing the recovery seed, because then you lose access to your crypto.

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Safety

Secondly, security. Because the market offers many hardware wallets, there are many people who look to see which model is the most secure.

One thing we want to give you: they are all safe and more secure than many other types of wallets. As long as you look for a model that is tested and proven by many to be reliable, you don't need to doubt its safety.

Any hardware wallet is safe. Just don't buy them from unknown or illegal sellers, but from the original site or another reliable provider.

But why are the price differences so big? That is because of the extra features that each hardware wallet offers.

Offer crypto

Before buying a hardware crypto wallet, you should also pay attention to whether the crypto currency you trade in is accepted by the wallet.

Most wallets will support the big boys, but if you are a trader who is mainly looking for unknown coins, you need to take this into account.

You can find this very easily on the website of the providers themselves. On the picture you can see some of the coins and tokens that are supported by Trezor.

This is only a part, there are in total 1649 coins that Trezor offers and 1150 coins that Ledger offers. So there is a small chance that yours is not among them.

There are no separate Bitcoin hardware wallets or Ethereum hardware wallets. On most of these wallets you can certainly store both of these major coins, even a Ripple hardware wallet is not a separate own wallet, but you can store them in the usual hardware crypto wallets.

The hardware wallet reviews show that both hardware wallets described above are suitable to store a lot of coins. So you do not need a separate Monero hardware wallet or IOTA hardware wallet.

It is best to buy your hardware wallet online, as soon as you receive it you can start using your Bitcoin wallet hardware and transfer Bitcoin and other coins like Ethereum to your hardware wallet.

Want to start crypto trading right away? Practice first with a free demo account from eToro!

Best Hardware Wallet Review: Frequently Asked Questions

What is a hardware wallet?

A hardware wallet is one of the safest ways to store your crypto coins. Contrary to storing your coins on the exchange where you trade with them, with a hardware wallet you really own your coins and have full control. 

This wallet cannot be hacked, or seized in case of bankruptcy of the exchange. 

What makes a hardware wallet extra safe is the possibility to store your coins without a connection to the internet. Really offline. This makes you less susceptible to hacks and other malicious persons, because they cannot gain access in any way. 

What is a private key?

A private key can be seen as your passport for entering the world of cryptocurrency. All your cryptocurrency data is recorded on it. If you lose it, there is no way to get it back.

So the only thing you can do is to avoid losing it. So make a good note of it (preferably on paper somewhere, not online in connection with hacks!) and store it well. Many investors use a safe or other method to protect themselves against floods, fire or theft.  

What is a recovery seed?

A recovery seed is a code consisting of a series of 12 to 24 words. These are unique words that you enter into the hardware wallet the first time you start it up.

If you lose your hardware wallet, you can restore your account by using the recovery seed. This ensures that all your cryptocurrencies can be safely transferred to another device.

You can see it as an extra protection in case of emergency.

How do I secure a hardware wallet?

Your hardware wallet is not as vulnerable as your recovery sense. The moment someone gets hold of your hardware wallet, he or she has to enter a pincode first. If they don't have one, they can't get in.

You can, for example, attach your hardware wallet to a cord and attach it to your trousers, or wear it as a necklace under your clothes. There are plenty of options, but what is important to know: the recovery seed is everything.

My hardware wallet broke, did I lose my crypto?

No, your hardware wallet does not contain any crypto, but your private key to the blockchain. Having a recovery seed ensures that if you import it to a new wallet, all data will be imported to that wallet.

Hardware Wallet: Conclusion

So do you want to go for the safest choice when it comes to storing your cryptocurrencies? Then the hardware wallet is the perfect option for you.

There are several physical wallets available on the market that can ensure the safety of your crypto. And yes, unfortunately you will have to pay a bit more for it than a free wallet on the internet, but this way you can be sure that your coins and tokens are safely stored.

A big advantage is that almost every hardware wallet supports a huge amount of cryptocurrencies and you can transfer them all to your hardware wallet. So feel free to buy crypto currency through eToro!

No matter where or when you are, with the physical wallet you always have your cryptocurrencies at hand in the safest way possible. In addition, you do not need to buy a separate Bitcoin hardware wallet or Ethereum hardware wallet, on the best hardware wallet many different coins can be stored.

Best Hardware Wallet

Do you still need to fill your Hardware Wallet?

eToro has a large selection of cryptocurrencies that you can start with!