A hardware wallet will most likely be your first choice for securing your crypto valuables. Over the last few years, these storage devices have grown in popularity, and there are now a plethora of options to select from.
Despite being incredibly secure, they aren’t the best option for everyone. To make sure you choose the right one, consider these six tips before making your purchase.
1. Support of Cryptocurrencies
Selecting a hardware wallet is largely about finding one that is right for you. You want it to be reliable, durable, and compatible with your preferred cryptocurrency. If you want to diversify your options even further, you may want to look for wallets that can support a wide range of crypto assets, so that you can expand your storage capabilities without having multiple wallets on hand.
2. Backup Options
There is no one-size-fits-all crypto wallet solution. Some wallets allow you to be in control of your own private keys, while others require you use their services. Because funds can be lost if devices are damaged or lost, it’s best practice not to have all of your cryptocurrency holdings in one place (even if that place is cold storage). This includes keeping a hardware wallet backed up with paper copies or alternative hardware solutions.
Like your wallet for cash, your crypto wallet is only as safe as you keep it. Always use anti-virus software and make sure that you have enabled two-factor authentication. You should also ensure that you are buying from a reputable brand that meets safety certifications. Do not buy generic, no-name devices; they are not worth saving $20 or $30, because if something goes wrong down the line and you can’t recover your money, then those savings were essentially useless anyway.
There are a few factors that affect speed, including your device’s screen size, whether you have more than one device and what platform you’re using. However, if you think speed is an issue for you, consider upgrading your current device or getting a faster device with better specs (e.g., more RAM). A hardware wallet never exposes your private keys because they remain isolated on its secure chip. It also can’t spy on your transactions like hot wallets since it doesn’t interact with your phone or computer when in use. Note that hardware wallets do have some vulnerabilities and aren’t completely immune from attacks.
5. Design & Aesthetics
The design is one of the first things people will notice about your hardware wallet. A lot of thought and effort has gone into making cryptocurrency wallets discreet, so that they blend in with everyday objects like car keys or smartphones. But others are clearly designed to draw attention, for example because they’re crafted from precious metals like gold. Some are small enough to fit on a keychain, while others have huge OLED displays. While personal taste plays a role in choosing an aesthetically pleasing wallet, what’s more important is that it feels sturdy and well-made; after all, you’ll be lugging it around with you everywhere you go.
6. Ease Of Use
Although most hardware wallets have intuitive software interfaces that make it easy to configure and use, you may need to pay for additional setup. If your device is very complicated, or if you don’t use many features of cryptocurrency wallets, then ease of use probably isn’t much of an issue. On the other hand, if you frequently send crypto between different wallet addresses, and deal with advanced security measures like two-factor authentication or fingerprint readers, then ease of use is absolutely essential. You don’t want a clunky hardware wallet making transactions more difficult than they need to be!
We hope that you have found this article useful in selecting the best hardware wallet. Do you have more tips on selecting a hardware wallet? What, do you think, is the most important feature of a wallet?
At UKISS, we believe that everyone should have the peace of mind over their digital assets and data. And we want to allow users to easily and effectively protect them. Our upcoming hardware wallet, UKISS Hugware™, will offer the maximum level of protection for your private keys, giving you confidence and peace of mind while using it.