There are many different types of wallets available in the crypto market like web wallets, desktop wallets and even software wallets. But if you are a long term investor, then it is best to hold your Bitcoins and other cryptocurrencies in the most secure wallets which are the hardware wallets.
Hardware wallets are the most secure among all the cryptocurrency wallets. In case of any thefts or scams, your coins remain safe in hardware wallet. Even if your hardware wallet is lost, they can be restored in a new wallet.
Hardware wallets store the private keys of your Bitcoin in an offline environment. They are specifically designed electronic devices which are tamper-proof and generate the private keys needed to sell/spend the Bitcoins.
These cannot be hacked as it is in an offline setting and there is a seed word which is like a recovery phrase which you should remember at all cost in order to recover your keys. It is recommended to write the seed word on a piece of paper and keep it in a safe place.
Hardware wallets have a digital screen with a user interface through which you can verify transactions or some have security grids. If you lose your hardware wallet or it gets damaged, it can be recorded through the seed word. The best hardware wallets for 2019 are:
- Ledger Nano S
Ledger Nano S is a sleek and elegant hardware wallet which can be connected to your Laptop or desktop via USB. It is easy to use, has a seed recovery backup and has an elegant design with buttons of the side for easy navigation.
KeepKey is another hardware wallet which has the seed recovery backup feature which is pin code enabled. It is bulky than Ledger Nano S but supports 6 cryptocurrencies at present.
One of the most popular and handy hardware wallets is the Trezor wallet. It is developed by SatoshiLabs and looks just like a small calculator. It is the most secure hardware wallet and comes with an OLED screen. It is secured by a 24-word long seed word and a nine-digit pin.
The added feature of Trezor is that it can be used easily with apps like Mycelium and Multibit HD and your Android device.