Hardware Bitcoin wallets are a popular and safe way for people to store cryptocurrencies. A hardware wallet is a tamper-proof electronic device, created with the goal to save your private keys offline. Because the USB-like hardware wallet is small, the only risk you will be facing is to misplace it, especially as that they are almost unhackable.
As of the writing of this article, there have been no reported hacks on a hardware Bitcoin wallet. Most of them give you the possibility to recover your assets even if you lose them, but, the recovery phase is not an easy process, and you might have a few technical complications along the way.
In the following sections of this piece, we will explain in detail the features of the best hardware wallets today:
- Ledger Nano S
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Ledger Nano S – one of the best Ethereum wallets in Australia
Ledger Nano S is considered to be one of the best hardware Ethereum wallets in Australia and throughout the world. A note of importance is to always purchase hardware wallets from the official manufacturer or official representatives of the company.
It has a very elegant and straightforward design, outside and inside. he Ledger Nano S has a microchip and PIN code that protects you from hacks, and the only way for a transaction to be performed is with a push of a button installed on the wallet.
The sophistication of the structure is in the protected component integrated on the microchip, which doesn’t allow unauthorised actions, by protecting your private keys from the outside world. Another smart feature of the Ledger Nano S is that in the case it gets stolen, after a few wrong tries for the PIN, the wallet will automatically erase itself locally.
Bitcoin wallet in Australia
Another popular Bitcoin wallet in Australia is the KeepKey. This Bitcoin wallet has a minimalistic form, and it performs all of the following actions:
- Private key generation
- Private key storage
- Transaction signing
A random number generator provides the private key. KeepKey looks more like a mini computer, rather than a USB device, but the screen will help you navigate faster. It supports Bitcoin, Litecoin, Dogecoin, Namecoin, Testnet, Ethereum, and Dash.
Opendime crypto wallet
The Opendime crypto wallet is a bit different and less popular than the other three on the list. The idea behind this hardware wallet is to be used like any other credit card, so that you can purchase services and goods with it. Your private keys are completely secure when the device is offline. Opendime is recommended for in-person transactions.
Trezor Bitcoin wallet
The Trezor Bitcoin wallet is the first and still one of the most popular hardware wallets on the market. Once you start using it, you will have to add a PIN code, and your private keys are stored inside. Even if you lose the device, it will be very hard, almost impossible, to access it. Also, it comes with a recovery protocol convenient for such cases.
The Trezor Bitcoin wallet is very easy for anyone to understand. For example, the only way for an outgoing transaction to be authorised is if you put your digital signature on it, which is done with a button on the device.
Other than Bitcoin, Trezor supports the following cryptocurrencies:
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Dash (DASH)
- Zcash (ZEC)
- Dogecoin (DOGE)
- + other Altcoins
This is our list of the best hardware Bitcoin wallets on the market today.