Top 10 Best Hardware Wallets 2024
As we head into 2024, the crypto world is on the brink of major changes. The Bitcoin halving is coming, and we're expecting Bitcoin ETFs soon, with Ethereum and Altcoin ETFs likely not far behind. Is this the return of the bulls? We're also seeing a shift in how we keep our crypto safe. 2023 had fewer disasters with exchanges and custody issues than 2022, but those tough lessons have stuck with the community. This year brought several exciting new crypto wallets to the market.
In this article, we list the top 10 hardware wallets – some are well-known, some are brand new. We'll explore their features, strengths, and where they stand out. By the end, you'll have everything that you need to make the best choice for your next crypto wallet. Make it your new year's resolution to take full control of your crypto with a hardware wallet!
TLDR: Skip to Our Top Picks
1. Trezor Model T
2. Ledger Nano X
3. SafePal S1
4. ELLIPAL Titan 2.0
5. BC Vault
6. Trezor Safe 3
7. Ledger Nano S Plus
8. KeepKey
9. SafePal X1
10. Trezor Model One
What Is A Hardware Wallet?
Basically, hardware wallets are small physical devices that keep the private keys to your cryptocurrencies offline. Without your private keys, you cannot transfer, send or spend cryptocurrencies. So by keeping them offline it keeps you safe from various online attacks that regular software wallets could face, like hacking or viruses. Unlike software wallets that are on devices connected to the internet, hardware wallets store your private keys in a 'cold storage' way.
The main way hardware wallets keep your crypto safe is in how they handle transactions. When you want to send or receive crypto, the wallet signs off on this transaction inside the device itself and then sends this approval to the crypto network. Your private keys never leave the device during this process. This makes it almost impossible for online thieves to get their hands on your keys.
Understanding how crypto hardware wallets work and how they keep your crypto safe is important for anyone getting into cryptocurrencies. They not only give you peace of mind, but also put you in full control of your crypto. This makes them a true must-have.
How to Choose a Hardware Wallet
There are a lot of crypto hardware wallets on the market, but by focusing on key factors and taking actionable steps, you can easily narrow down the one that suits your needs.
Security:
- What to look for: Research the security features of each hardware wallet. Look for elements like two-factor authentication, PIN codes, and backup options. Some wallets are air-gapped, some are open-source. Read around and see what matters to you.
Multi-Crypto Support:
- What to look for: List the cryptocurrencies you currently own or plan to invest in. Not all wallets support all coins, it's best to make sure before you buy. Most wallets will have a dedicated list of all the coins and blockchains they currently support.
Ease of Use:
- What to look for: Identify your comfort level with technology. Are you a beginner or tech-savvy?
- Watch demonstration videos or read user guides to get a feel of the wallet’s interface and choose one that matches your skill level.
Affordability:
- What to look for: Set a budget for your hardware wallet purchase.
- Balance the cost with the features offered. Sometimes, spending a bit more can provide better security or support for more cryptocurrencies. But do not assume that the more affordable wallets are less safe. Usually the price difference comes down to brand recognition or extra UX features.
By carefully considering all these points, you can pick a hardware wallet that's just right for you. It'll match what you need for security, work with the types of cryptocurrency you have, be easy enough for you to use, and fit your budget. The best wallet for you is one that meets your specific needs and makes you feel secure as you deal with your cryptocurrency.
The Countdown
1. Trezor Model T
Overview & price: Priced at about $179, the Trezor Model T is a standout in the world of hardware wallets. It has top-notch security features including a unique colour touchscreen, rare in hardware wallets, makes using it easy and visually pleasing. Plus, its sleek design and user-friendly interface make it a great choice whether you're new to crypto or have been about for a few cycles.
This one might be right for you if...
- You have lots of different cryptocurrencies and need a wallet that can handle all of them.
- You like things that are easy to use and have a clear interface for your crypto dealings.
- You're looking for a high-end wallet with the best security features.
Why we think it will be a top hardware wallet in 2024...
- The Trezor Model T is in tune with 2024's trends of merging DeFi and web 3.0 technologies. Its support for new blockchain tech makes it a top pick for those keen on engaging with the latest in the crypto world.
2. Ledger Nano X
Overview & price: The Ledger Nano X, selling for around €149, is a mix of security, portability, and flexibility in hardware wallets. Its standout feature is Bluetooth connectivity, letting you manage your crypto easily on mobile devices. Supporting over 5,500+ cryptocurrencies, it's a versatile choice for many crypto needs.
This one might be right for you if...
- You're always on the go and want to handle your crypto assets on your phone.
- You have a varied portfolio and need a wallet that supports a lot of different cryptocurrencies.
Why we think it will be a top hardware wallet in 2024:
- In crypto, where being able to move and adapt is key, the Ledger Nano X shines with its mobile-friendly design and broad crypto support. It's perfect for the ever-changing crypto market of 2024.
3. SafePal S1
Overview & price: The price of SafePal S1 sells from $49.99. And it's been making waves with its Binance partnership. It's a beacon of innovation in crypto hardware wallets, featuring an air-gapped signing mechanism for top-notch offline security. Supporting 32 blockchains and over 10,000 tokens, it's an extremely versatile tool for those with a broad crypto portfolio. Its compact size and easy-to-use design make it suitable for all types of users.
This one might be right for you if...
- Your main concern is security, and you want a wallet with features like the air-gapped mechanism.
- You trade on various blockchains and need a wallet that supports many cryptocurrencies.
- As the crypto market continues to grow, SafePal's ties with big exchanges like Binance and its support for so many blockchains will make it a highly relevant choice for 2024. SafePal's focus on security and versatility fits well with the expected trends of more trading and a need for secure, multi-blockchain support.
4. ELLIPAL Titan 2.0
Overview & price: Priced at $169, the ELLIPAL Titan 2.0 is a strong player in the hardware wallet field, ELLIPAL has become well known for its air-gapped cold storage wallets. It works with a wide variety of cryptocurrencies and blockchains, making it a good fit for different kinds of crypto holdings. It's especially great for mobile users, with easy use of decentralised apps (DApps) and DeFi protocols. Its key feature is being totally cut off from online networks, offering top-notch security against online risks.
This one might be right for you if...
- You mostly handle your crypto on your phone and want a wallet that makes this easy and secure.
You're into using DApps and DeFi protocols and need a wallet that gives you easy and safe access.
Why we think it will be a top hardware wallet in 2024:
- The ELLIPAL Titan 2.0 matches the growing trend of managing crypto on mobile devices and needing strong security. As more people use their phones for crypto, this wallet's focus on air-gapped security and mobile-friendly features makes it a great choice for 2024.
5. BC Vault
Overview & price: Priced around $138, the BC Vault takes a fresh approach to crypto storage with its seedless cold storage, using an encrypted SD card for recovery. This ensures strong security. It has a long-lasting FeRAM chip, good for over 200 years, perfect for keeping your crypto safe long-term. Its unique point is letting users create their own private keys, adding an extra personal touch to security.This one might be right for you if...
- Keeping your crypto safe for a long time is your main worry.
- You like the idea of customising your wallet’s security, especially in making and managing your private keys.
- As the crypto world evolves, the demand for secure, long-lasting storage grows. The BC Vault, with its innovative storage approach and durability, meets these needs, making it a solid pick for long-term planning in 2024.
6. Trezor Safe 3
Overview & price: The brand new Trezor Safe 3, costing €79, is a compact, easy-to-use crypto hardware wallet offering strong security. It supports a lot of major coins and Ethereum-based tokens, suitable for various crypto needs. Its key feature is the Shamir Backup, which adds security through a split backup system. Its affordability and simplicity make it a great option for both beginners and experienced crypto users.
This one might be right for you if...
- You're looking for a wallet that's secure yet affordable, especially if you're new to crypto or on a budget.
- You want a wallet that's simple to use but also has strong security features like Shamir Backup.
- With more people getting into crypto, there's a growing need for hardware wallets that are easy for beginners but still very secure.
- The Trezor Safe 3, being affordable and offering comprehensive security, fits these needs well, making it a top choice for a wide range of users in 2024.
7. Ledger Nano S Plus
Overview & price: The Ledger Nano S Plus, at £69, is an evolved version of the widely recognised Ledger Nano series. It brings the security and quality of Ledger in a more budget-friendly package. This wallet accommodates a broad range of cryptocurrencies and maintains the same robust security features as its predecessors. Compact and durable, it’s designed for those who want reliable crypto storage without the high-end price tag of more premium models.
This one might be right for you if...
- You're on a budget but don't want to skimp on security.
- You need a simple, reliable wallet that can handle many types of cryptocurrencies.
- With the crypto market growing, there's a higher demand for hardware wallets that are both affordable and secure. The Ledger Nano S Plus meets this need with its trusted Ledger security at a more accessible price, making it a great choice for a wider audience in 2024.
8. KeepKey
Overview & price: KeepKey, at around £82, offers a stylish design along with straightforward backup and recovery. It integrates smoothly with Shapeshift for effective cryptocurrency management and exchanges. The device is user-friendly, great for beginners, and also has strong security features that experienced users will appreciate.
This one might be right for you if...
- You like a wallet that looks good without losing functionality.
- You want easy integration with platforms like Shapeshift for effective crypto management.
- In a market that often prioritises function over form, KeepKey stands out with its attractive design and ease of use. As more design-minded users join the crypto community, KeepKey's mix of style, simplicity, and security makes it an attractive option for 2024.
9. SafePal X1
Overview & price: Priced at $69.99, the SafePal X1 is the first Bluetooth wallet from SafePal. It combines the convenience of portability with strong security features like anti-tampering and a Secure Element chip. The wallet's sleek design and Bluetooth connectivity offer a modern, easy experience for managing crypto.
This one might be right for you if...
- You value ease and portability in managing your crypto, especially with Bluetooth.
- You won't compromise on security, and you like features like anti-tampering and secure element chips.
- As mobile and wireless tech becomes more popular in the crypto world, the SafePal X1 is in a great position to meet these changing needs. Its mix of Bluetooth for ease and strong security features make it a forward-looking choice for tech-savvy, security-minded crypto users in 2024.
10. Trezor One
Overview & price: The Trezor One, at £52.50, has been a key player in the hardware wallet market since way back in 2014. Known for its dependability, it offers a simple yet secure approach to crypto storage. It supports many types of cryptocurrencies, making it suitable for both newbies and experienced investors. Its compact design and easy-to-use interface make it an ideal choice for newcomers to the crypto world.This one might be right for you if...
- You're just starting with cryptocurrency and want a wallet that's easy to use and secure, making your first steps less intimidating.
- You need a wallet that handles a range of cryptocurrencies without complex features that might be too much for beginners.
- As more people from various backgrounds start using cryptocurrencies, the need for wallets that are both easy to use and secure is increasing. The Trezor One meets this need well, offering a good mix of simplicity, security, and affordability. It's set to be a popular choice for new crypto users in 2024, providing a reliable and straightforward option. The Trezor One is therefore well-suited to meet the needs of the growing number of crypto users in 2024, offering an easy way in for those new to digital assets, while still delivering the security and trustworthiness expected from a leading hardware wallet.
5 Steps for Choosing and Using a Hardware Wallet
Selecting and using a crypto hardware wallet doesn't have to be daunting. Follow these five steps to guide you through the process:
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Assess Your Needs:
- Identify your cryptocurrency types: List the cryptocurrencies you own or plan to acquire. Ensure the wallet you choose supports all these types.
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Determine your security requirements: Consider how much security you need based on the value of your crypto assets. More valuable portfolios might require higher security features.
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Research and Compare:
- Read reviews and comparisons: Look for expert reviews and comparison articles on hardware wallets. Focus on recent reviews that include the latest models.
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Check compatibility: Ensure the wallet is compatible with your computer or mobile device’s operating system.
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Purchase From a Reputable Source:
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Buy directly from the manufacturer or authorised dealers: To avoid counterfeit products, purchase your hardware wallet directly from the manufacturer’s website or an authorised reseller.
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Buy directly from the manufacturer or authorised dealers: To avoid counterfeit products, purchase your hardware wallet directly from the manufacturer’s website or an authorised reseller.
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Set Up Your Wallet:
- Follow the setup guide: Carefully follow the manufacturer’s setup instructions. This typically involves initialising the device and setting a PIN.
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Backup your recovery phrase: Write down the recovery phrase and store it in a secure location. This is crucial for recovering your assets in case the wallet is lost or damaged. Consider investing in a metal seed phrase backup to keep your recovery phrase safe long-term.
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Regular Updates and Maintenance:
- Keep your wallet updated: Regularly update the wallet’s firmware from the official source to ensure you have the latest security patches.
- Practice safe usage: Always disconnect the wallet when not in use and store it in a secure location.
In Summary
Heading into 2024, the key trends in cryptocurrency are focusing on better security, making things easier for users, and supporting a wider range of crypto coins and tokens. With blockchain technology becoming more common in different areas, and the growing interest in things like DeFi and NFTs, there's a clear need for versatile and strong hardware wallets. The table below highlights our top choices, each matching these upcoming trends, to help set you up for the new year.
| Hardware wallet | Year released | Supported crypto assets | Security rating | Ease of use | Affordability | Where to buy |
|---|---|---|---|---|---|---|
| Trezor Model T | 2018 | Over 8,000+ | 5/5 | 4.5/5 | 3/5 | |
| Ledger Nano X | 2019 | 5,500+ | 5/5 | 4.5/5 | 3.5/5 | Ledger Official Website |
| SafePal S1 | 2018 | 32 blockchains, 10,000+ tokens | 4.5/5 | 4/5 | 5/5 | |
| ELLIPAL Titan 2.0 | 2023 | 10,000+ | 4.5/5 | 4/5 | 3.5/5 | |
| BC Vault | 2019 | 10,000+ | 4.5/5 | 4/5 | 3.5/5 | BC Vault Official Website |
| Trezor Safe 3 | 2023 | 8,000+ | 4.5/5 | 4.5/5 | 4/5 | |
| Ledger Nano S Plus | 2021 | 5,500+ | 4.5/5 | 4/5 | 4/5 | Ledger Official Website |
| KeepKey | 2015 | 7,000+ | 4/5 | 4/5 | 4/5 | KeepKey Official Website |
| SafePal X1 | 2023 | 32 blockchains, 10,000+ tokens | 4.5/5 | 4/5 | 4.5/5 | |
| Trezor One | 2014 | 8,000+ | 4.5/5 | 4.5/5 | 4.5/5 |
