Hardware Wallet The Best Hardware Wallets For 2021
There is no doubt selecting your crypto wallet is just as big a decision as choosing the exchange to buy it from, and with such a huge variety of wallets available, how do you decide the best option for you?
Below, we dive deeper into the world of Bitcoin hardware wallets, discussing the overall cost, level of security and give you a few key pointers to look out for before making your decision. We also compare these attributes to our very own Zeply wallet, a wallet you receive free of charge on our web-based platform.
What Is A Hardware Wallet?
A Bitcoin hardware wallet, often referred to as cold storage, is a way to store your cryptocurrency safely. Unlike a desktop wallet, your hardware wallet is an external piece of hardware that works similar to a USB; simply plug into your Windows, Linux or Mac for direct access to your funds.
Hard wallets are one of the safest forms of crypto wallets too, encrypting access to your coins and providing an extra level of security when you do look to trade online. Be sure to keep your private key and public key safe, as this will enable the fast and secure transaction of Bitcoin to and from your account.
Due to the increased security and your Bitcoin hardware wallet being a physical device, a price tag is attached. Prices can start from $50 up to $299+.
Here at Zeply, we look to remove the price-tag, allowing our users access to a secure wallet upon completion of opening an account. Our exchange links directly to your wallet, so any real-time market movements or any currency exchanges you decide to make will instantly appear in your Zeply wallet. That’s not all; you can say goodbye to deposit and withdrawal fees as we charge $0 regardless of your transaction value.
Three Things To Keep In Mind When Selecting Your Hard Wallet
A crypto hardware wallet is a great option for long-term storage, as your funds are not stored online constantly and remain inaccessible. The only time hackers would have the potential to gain access to your funds would be if they had access to your private keys, and your wallet happened to be online at the time of their attack. However, if you are looking to trade your funds daily or even scalp the market, you would need access to your wallet regularly, and a hardware wallet may not be the most efficient choice for you.
There are lots of things to consider when selecting your hardware wallet. Below, in our Bitcoin hardware wallet review, we cover the three most important features to help decide which wallet is right for your trading needs.
Your crypto hardware wallet is a physical wallet, similar in stature to the USB and easily lost, stolen or damaged if not stored correctly. Aim to store your wallet in a secure and dry location, with your private keys, and public key kept completely separate.
When purchasing your hardware wallet, we would suggest buying a new crypto hardware wallet, despite the cost. Your hardware wallet will be a pivotal part of your trading journey, and it is worth paying a little extra for peace of mind. Used Bitcoin hardware wallets are available, as with anything, but there is potential that these could have been altered, hacked or even be stolen.
As mentioned earlier, Bitcoin is bought, sold, deposited, withdrawn and exchanged online, with the potential for hacks being a real threat. We recommend keeping all of your private keys, email addresses, transaction history and any other personal details completely private to reduce the risk of any attacks.
Our platform links conveniently to your wallet. Allowing for instantaneous transfers from wallet to exchange and back to your wallet again. We remove security risks by suggesting you add two-factor authentication to your account. Two-factor authentication is a process that adds a second level of security to your account by requesting a separate unique code via SMS, or the google authenticator app, to confirm that you have authorised your latest Bitcoin transaction. This process means, even if someone did manage to access your account, funds could only be withdrawn or exchanged with your permission.
As your Zeply wallet is conveniently linked to the exchange, this also means that there is no risk of losing your wallet. We keep hold of your private keys, so you only need to focus on supplying BTC senders with your public key. The rest is all conveniently taken care of for you.
Processing Of Transactions
Crypto hardware wallets only communicate with the internet when you attach them to the network. Every time you look to transfer funds to an exchange, you will need to input your wallet to your computer, connect it to the internet, then enter your pin/password before even beginning the transfer process.
If you are an investor or long-term holder of a coin, this method could work absolutely fine for you, as time is on your side, and you will rarely need to bring your wallet online. However, if you are looking to trade quickly and efficiently throughout the day, make multiple exchanges or just generally be more active within the market, we believe a Bitcoin hardware wallet will not be the best option for you.
Here at Zeply, we’ve made the transaction process simple; just sign in to your account and head to your dashboard. Here, you will find any activities you will need to perform, including an “activity” tab that shows your transaction history. As previously mentioned in our Bitcoin hardware wallet review, our transactions are performed instantaneously, and you can even buy your chosen currency with a debit or credit card.
When depositing and withdrawing funds from your hardware wallet, you are solely responsible for the transaction, meaning any loss of funds due to typos and incorrect account numbers will be felt by your account only.
When transferring to and from an exchange, it is worth taking into account the level of customer service you receive. You can quickly do this by evaluating the sign-up process, reviewing their FAQ page and searching online for exchange reviews. We view this as a necessary measure and an easy way to establish if any problems you have with your account, and potential problems depositing or withdrawing funds, will be dealt with appropriately and efficiently.
We go into greater detail about our Customer Service in our crypto exchange review, but when you set up your account with Zeply, you unlock full access to live support 24/7. No matter what the problem, our dedicated and knowledgeable support agents are on standby to help with your query.
With your wallet and exchange all in the same place, it also makes for an easier resolution when trying to locate any problem transactions. There’s no passing of the blame between exchange and wallet provider either, as they are kept under the same roof.
Your Zeply Wallet
In the world of blockchain, there are zero refunds. If someone is able to access your account due to weak security measures, unfortunately, there is little out there to see these funds get returned.
We at Zeply take the security of your account very seriously whilst offering you complete management of your funds. We keep hold of your private keys so you never have to worry about losing access to your assets or having your security compromised, as you could with your own crypto hardware wallet.
Upon successful verification of your account, we advise our users to set up two-factor authentication (2FA). As previously stated in this Bitcoin hardware wallet review, 2FA adds a second level of security to your account, meaning when you log-in, deposit, withdraw, send, buy or receive an asset, you will be required to enter a unique, one-time code to confirm the transaction.
At Zeply, simplicity is at the heart of all we do. That’s why we created an innovative exchange that will help Bitcoin become a standard form of payment. Your Zeply wallet links directly to your account, ensuring real-market prices can be purchased instantly, with no hidden fees.
Conclusion - Storing Your Cryptocurrency Safely
Hardware wallets are proven to be one of the safest options when storing your cryptocurrency. However, be mindful of the potential risks attached to them, including the loss of your device, loss of pins and passwords, or indeed having your device stolen. Be prepared to spend upwards of $60 to keep your funds safe and keep your device cool and dry at all times!
As we’ve already mentioned, long-term investors will need a secure method of keeping funds offline and away from potential threats, whilst daily traders will need funds to be accessible.
With Zeply you get the best of both worlds, a secure home for your long-term investments that are accessible in an instant.
Use our platform’s wallet, and enable two-factor authentication to further secure your funds. We have our Customer Service agents on standby to assist with any queries you may have, as well as a dedicated FAQ page to help with any queries you may have whilst using the “Dashboard” or your wallet.
Bitcoin Hardware Wallet FAQ
When searching for your crypto wallet, you will come across the terms Hot and Cold Storage. Hot storage refers to a wallet that is connected directly to the internet, allowing users to access, send and buy funds with ease. Cold storage is a wallet stored offline, ensuring maximum security, ideal for investors.
Many crypto exchanges will host a variety of coins, ICO’s and start-ups, requiring its users to research through countless whitepapers looking for a coin with a real-world use, backed by credible investors and has the potential to grow. However, we at Zeply truly believe in Bitcoin’s potential, and provide a platform dedicated to help the #1 crypto become a recognised form of payment.
When signing up to Zeply you will receive access to a secure wallet allowing you to keep your assets safe. Follow our guide to help you add two-factor authentication, a feature that requests a second level of approval for any buy, sell, withdrawal or deposit from your account!