Top Cold, Hardware, Hard, and Physical Crypto Wallets

Cryptocurrency wallets that don’t require an Internet connection - so-called “cold” wallets - are the most secure. After all, if hackers can’t connect to it - they can’t hack it. It is possible to keep a full-fledged PC just to run a wallet, but it is impractical in most cases and for most people. A dedicated hardware wallet is a much more reasonable option. Thus, we’ve prepared a list of the best offerings available on the market.

The simplest physical crypto wallet

The simplest and “coldest” physical crypto wallet is a paper wallet. It consists of a private key printed on a piece of paper. The key can be printed in a QR-code form to facilitate transaction signing. Public keys can also be printed on paper, but it isn’t crucial for funds security.

A paper wallet is a “do-it-yourself” solution rather than a product. However, there are many pitfalls that you should keep in mind.

First, it is better to avoid online paper wallet generators. Their use makes the entire idea pointless since your keys are transmitted through the Web. Moreover, some of these generators are blatant scams that collect people’s private keys or even trick people into sending funds to addresses affiliated with scammers.

A better solution is to use a downloadable generator from a reputable source (such as Electrum), preferably an open-source one. Conducting a PGP check and disconnecting from the Web for the entire generation and printing process is also necessary.

Second, it is necessary to ensure the survivability of your paper wallet. Creating a backup and storing it in a secure location is an obvious step. Protecting the record from water and other elements is also worth it. A zip-locked plastic bag is one way to do it. A more radical solution is to engrave the keys on a metal sheet instead of printing them on paper.

Finally, using paper for regular transactions is impractical - it is strictly a long-term crypto cold storage wallet. If you plan to do anything with your digital assets in the foreseeable future, you should use other solutions.

Ledger crypto wallets family

Ledger is one of the two main companies in the hardware wallets market. We could list all the offerings from this developer, but in this case, the entire list would consist of Trezor and Ledger crypto wallets.

Their flagship model is the Nano X, a further development of the famous Nano S model, which has been the industry standard for a long time. It is shaped like a USB stick that has a small screen and a few buttons. “Under the hood” it boasts powerful encryption, support for over 5,000 assets, and offline transaction signing. However, its Bluetooth support is a vulnerability that can be exploited.

By the way, the aforementioned Nano S remains more than a viable hardware wallet for crypto. While Nano X is more capable, there is nothing wrong with the good old S, especially if we talk about the updated Nano S Plus.

Another noteworthy product is Ledger Stax. It is similar in functionality to Nano S Plus, but the developers focused more on usability and appearance. Stax has a large touchscreen, making it much more user-friendly, and boasts stylish looks.

Naturally, Ledger products have drawbacks. The insistence on using Bluetooth on most devices is questionable security-wise. Plus, all software and firmware are closed-source. Finally, a major security breach in 2020 tarnished the company’s reputation - some user data was leaked. However, no assets were lost.

Hard wallet for crypto with the best ecosystem

Trezor is Ledger’s main competitor. Roughly speaking, today, there are Trezor, Ledger, and everybody else in the market for hard wallets for crypto. Naturally, the leaders have a lot of similarities in their products.

Trezor offers two main models: Model One and Model T. Model One is an entry-level option with limited asset support. It is among the oldest offerings on the market – a decade old – but it is still going strong. However, one shouldn’t expect advanced features like NFT support from such a basic product.

Model T is an advanced option roughly on par with Nano X. It is even more user-friendly due to a better touchscreen. However, no Trezor device has Bluetooth – the company believes it is a vulnerability and more of a detriment overall.

A major selling point for Trezor is its ecosystem, mainly due to Trezor Suite, an open-source mobile app used to manage the wallet. Most users agree that it is better developed than its competition at the current stage. Another important aspect is that all the firmware and software elements are open-source and thus can easily be verified for vulnerabilities and mistakes.

Finally, Trezor has no history of major leaks or security breaches, which is also important.

The most hyped-up crypto hard wallet

ELLIPAL Titan 2.0 is probably the most talked-about hard wallet for crypto of the past couple of years, and even the market leaders have to treat it as serious competition.

Titan 2.0 offers the most extensive set of security features on the market. First, it is always protected by an airgap – there is no need to connect it directly to another device (even disconnected from the Internet) to sign transactions. It has a built-in camera to scan QR codes and sign transactions in this way. No WiFi, cable or Bluetooth connection is needed.

Moreover, it has plenty of anti-tamper features, so even if malicious actors gain access to the device, it will be virtually impossible for them to steal the funds stored on it. Robust encryption is a given at this point.

Besides a high level of security, Titan 2.0 offers plenty of quality-of-life features, such as fiat support (although all fiat operations are performed via Changelly) and staking – about half a dozen staking options are supported.

Naturally, Titan 2.0 has its fair share of drawbacks. First, it doesn’t support multi-signatures so operational security can be compromised for some applications. Second, it uses closed-code firmware. Finally, only a limited selection of software wallets is supported, so there is no room for customization.

The most portable cold crypto wallet

While most cold storage options are relatively compact, they still don’t have perfect portability – you have to carry around an additional item that you can easily forget. Some solutions can be carried on a key chain, but many people find them too big and cumbersome. Tangem solves this problem radically – it has the form factor of a credit card, so you can just drop it into your pocket, wallet or card-holder.

Tangem doesn’t have a screen or buttons, so to send any transaction, it should be connected to another device, like a smartphone. It creates some vulnerabilities, but that’s the price one has to pay to be the most portable cold crypto wallet. On the other hand, it has NFC capabilities and can be used similarly to a normal contactless banking card.

The most secure hardware crypto wallet

NGRAVE Zero is sometimes jokingly referred to as the wallet for the paranoid. Even though it is over 6 years old, it is still the market leader in security features and is one of the few offerings with EAL7 certification. There is no higher security standard in the world.

It uses QR codes to sign transactions in the NGRAVE mobile app and doesn’t need any direct connection to the Internet or other devices. In addition, it has military-grade encryption and a plethora of anti-tampering components, including a fingerprint scanner.

The main drawback is the price, which is over $500. Thus, NGRAVE Zero is among the most expensive hardware crypto wallets.

A unique one-time use cold wallet

The developer of Opendime uses a unique approach to hardware wallets. It is a basic USB-capable device that enables off-chain BTC spending like cash.

After purchasing Opendime, you can replenish it with BTC (other assets are not supported) once. Then you can give it to somebody just like a wad of cash. BTC from the wallet can also be transferred elsewhere only once. After that, the device becomes unusable.

Interestingly, it is the only way to transfer Bitcoins to another person without paying the network fee.

Obviously, it is a very niche product, but in its niche of anonymous off-chain use, it doesn’t have any real competition.