By COINBUREAU Editorial Team
Last updated: Jan 04, 2024
There are a number of hardware wallets on the market and choosing the right one can be tricky. That’s why we’ve put together a handy guide to our top five below. There are a few things to weigh up before choosing which one is right for you and we’ll consider all of these in relation to each wallet:
- Security: Although hardware wallets are the safest option out there, some are more secure than others.
- Coins supported: All hardware wallets will store BTC, ETH and most other top cryptocurrencies. However, if your portfolio includes some lesser-known altcoins, then some wallets may not be suitable.
- Price: If your portfolio is relatively small then chances are you won’t want to pay top dollar for a device to store it on. As with any product, prices for hardware wallets vary.
One final point to remember when buying a hardware wallet is to always buy it directly from the maker. There have been a few instances of unscrupulous types buying a wallet, extracting the seed words and then reselling the device. When the unsuspecting buyer then loaded their crypto onto it, the scumbags were able to remove their funds using these seed words.
Avoid buying your wallet from eBay or anywhere else where it might have been interfered with and order straight from the supplier’s website. Most of them also offer free shipping, unless you happen to live somewhere particularly exotic.
So, armed with this knowledge, in no particular order, let’s take a look at the best hardware wallets on the market.
Best Hardware Wallet for Long-Term Storage: BC Vault
BC Vault has created a truly unique and highly secure crypto wallet, which is why it deserves a spot on this list. We listed it as the best hardware wallet for long-term storage, but the BC Vault has a lot more than just that going for it.
Here are a few boasting rights that only BC Vault can claim:
- Supports millions of coins & tokens– Device can support 2,000 unique wallet addresses and hundreds of chains. This significantly outperforms industry leaders Ledger and Trezor.
- Seedless Cold Storage– BC Vault has developed a recovery method that does not rely on third-party trust and is more secure than traditional recovery phrases, (though recovery phrases are optional).
- Ferroelectric RAM (FeRAM) chip that can function for over 200 years, making this the only hardware wallet suitable for multi-generational use.
- True random number generator and non-deterministic algorithms create private keys– Devices such as Trezor, Ledger, ELLIPAL and most wallets come pre-loaded with private keys, meaning a level of trust is involved. Private keys on the BC Vault are user-generated for ultimate anonymity.
- Real Security– The company behind BC Vault are not your average “crypto bros.” They are a Cybersecurity firm that has been operating for over 20 years and are responsible for the cyber security of many major firms. They also host the biggest security conference in the Adriatic region.
- Separate Pin and Password Protected Accounts– BC Vault is the only wallet we are aware of that can be safely shared between friends and family members. Up to 2,000 accounts can be created and pin/password protected.
Another perk of this wallet that we love, is that each of the millions of supported assets are natively supported, meaning you do not need to connect to third-party programs to manage assets, as is the case with many Ledger and Trezor “supported” assets. We cover why this is an important distinction in our BC Vault review.
BC Vault has a quote on their site:
“ Wallets are for Pocket Money, Vaults are for Safekeeping”
Which highlights the security of the Vault. The device has the following dimensions: 100mm x 57mm x 10mm (3.937” x 2.244” 0.394”) and has achieved the following security certifications:
- CE (EN 55032:2012, EN55024:2010, EN 61000-3-2:2014, EN 6100-3-3:2013; EN 60950-1 :2006 + A 1:2010 + A2:2013 + A 11 :2009 + A 12:2011)
- RoHs
The team at BC Vault are so confident in their security that each device comes pre-loaded with an account that can access 1 Bitcoin. If any user can crack the security of the Vault, they can keep the Bitcoin. To date, nobody has managed to nab it.
The backup of the wallet is handled by an encrypted SD card, which can only be decrypted with the pin and password selected by the user, making this safer than the traditional recovery seed phrases written down on paper. If someone accesses the SD card, they cannot access the funds without your pin and password. For those who prefer the traditional recovery method, a recovery phrase can also be accessed and written down.
If you want to learn more about what makes BC Vault one of the most secure wallets in the industry and how the backup + recovery method is revolutionizing cold storage, check out our in-depth BC Vault review.
