Best Crypto Hardware Wallet UK For 2022

There are hot wallets and cold wallets. Online wallets and offline wallets. Software wallets and hardware wallets. For the purpose of this post, I’m going to focus on hardware wallets. What are they? How do they work? Do you really need one?

I’ll answer these questions and more as you learn all about these types of wallets. So what are we waiting for? Let’s get started.

What is a hardware wallet?

Hardware wallets are physical storage devices specifically designed to provide secure storage for your favorite digital assets’ private keys. The devices are essentially hard drives that connect to your smartphone or computer via a USB port. Since they are in an offline environment, your coins and tokens are kept safely in cold storage.

Additionally, these wallets offer various security features meant to provide excellent security for all your private keys. Typically, a physical wallet uses a PIN, in addition to other security features, to ensure your transactions are legitimate and protected.

Advantages

There are plenty of reasons to use a physical wallet, especially when compared with software or paper wallets. Here are just a few advantages to using this type of wallet:

• They can used to manage your cryptocurrencies securely
• Often uses open-source software
• Usually immune to malware and viruses that hack software wallets
• Private keys are kept in a protected area of the wallet and cannot be transferred off the device in a plain text document

Best hardware wallets available in the UK

Now that I’ve gone over what a hardware wallet is let’s explore some of the UK market’s best options. Here’s a quick rundown of what you can expect to find.

Ledger Nano X

One of the most popular wallets to hit the market recently is the Ledger Nano X. With a 2-chip setup, the Nano X is able to offer its users with state-of-the-art protection and security. For many, Nano X is the ideal combination of mobility and safety.

The Nano X Bluetooth feature allows you to use the device with your laptop or smartphone no matter where you are. Another feature users really like is the wallet’s ability to store several digital coins- like Bitcoin, Ethereum, and Litecoin – at the same time. Not all wallets offer this type of functionality.

Nano X features:

• 100 mAh of battery life
• User friendly
• Easily log into exchanges like Binance
• Manage multiple digital coins and tokens
• Plastic and stainless steel design

Trezor one

Next up on our list of best wallets for the UK is the Trezor One. The Trezor One was one of the first secure wallets for Bitcoin to hit the market. It was a pioneer in the industry, as it provided users a way to store their cryptocurrency offline securely. The device reminds me of a small calculator that has an OLED screen.

This wallet is compatible with Android devices and will also work with other apps like Mycelium or Multibit HD.

Every Trezor One sent to a user has a PIN that is always associated with the wallet. As a result, even if the computer you’re using gets hacked, your PIN is still protected. All Trezor wallets use a 24-word passcode that’s generated during setup. Keep track of this passcode, as you’ll need it if you ever get locked out of your device.

Trezor One features:

• Intuitive interface
• Device recovery options via mobile or laptop
• PIN entry security
• Multicurrency support
• OLED display

Ledger Nano S

The Nano S is Ledger’s second device on this list. While it is not quite as impressive as the Nano X, the S is still a high-quality wallet. There’s plenty to like about this handheld device that offers an LED screen and PIN confirmation process that keeps your digital assets safe and secure.

Additionally, the Nano S provides features like multiple operating system support, 2-factor authentication, and multi-currency support. With the ability to run third-party apps and a straightforward setup process, there’s plenty to like about the Ledger Nano S.

Features:

• Stainless steel and plastic design
• No battery needed
• Lightweight and mobile
• Multiple OS support
• Supports wide variety of digital coins and tokens

Coolwallet S wallet

The fourth wallet on my list is the CoolWallet S, developed by CoolBitX. This wallet offers the perfect combination of portability and security in a device that looks a lot like a credit card. Coolwallet S is the ideal wallet if you’re a crypto investor on the go.

With Coolwallet S, you can quickly and easily send and receive BTC, exchange other digital coins, and check balances. Plus, with a mobile app, you can do all this on the go. Plus, the wallet features Bluetooth connectivity, so you don’t have to tether to your smartphone or laptop to access your coins.

Features:

• Bluetooth encryption
• Physical credit card shape fits in your wallet
• Durable and flexible
• Supports Android and iOS

Corazon wallet

If you want a wallet that sets itself above all other wallets, the Corazon is the way to go. Made of Titanium, this solid, sleek, and durable device is a wallet that has exactly what you need to manage all your favorite digital currencies.

As a physical wallet for digital assets, Corazon serves its purpose. It uses available technology to protect your Ethereum, Bitcoin, Litecoin, and other altcoins. Plus, you can store keys for non-blockchain apps on the device. The problem is the price. It’ll run you a little under USD 600, which is going to be pricey for average crypto users. But, if you’re a crypto asset HODLer and you have some money to spend, a Corazon might be the device you’ve been looking for.

Features:

• Compatible with multiple platforms (iOS, Android, Windows, Linux, macOS)
• Ease of use
• Multi-currency support
• Open-source
• Durable and sturdy

Is a hardware wallet necessary?

One of the most commonly asked questions about physical wallets is ‘Do I really need one to keep my digital assets secure and protected?’ If you’re new to the world of crypto, then the simple answer is ‘Yes!’ But of course, it’s not always so cut and dry.

One of the primary reasons to have a physical wallet is due to the hacks that have occurred on major crypto exchanges.

As a result, it’s more important than ever that you have a way to protect your digital assets.

Whether you have millions invested or just a few hundred dollars, a physical wallet offers additional security against hackers.

Physical wallet vs. Exchange wallet

The vast majority of those new to the world of digital coins get started by buying coins through an exchange, like Coinbase or Binance.

Most users leave their coins on the platform, especially if they plan on trading more in the future. But “owning” Bitcoin and other altcoins on an exchange is more than what it seems.

When someone has cryptocurrencies on a platform, what they really own is the private key.

This critical information is used to validate and authorize transactions on the blockchain. The person that has access to these private keys can spend these funds however they want.

As a result, if you’re storing your digital coins on an exchange, you’re more than likely trusting a third-party with your private keys.

What you essentially have is an IOU. The exchange promises to give them back to you when you need them. Think of it like buying paper gold (trusting a third-party) instead of purchasing actual physical gold that you can hold and store yourself.

Exchanges do provide some basic security functionality, like two-factor authentication, but the reality is that most platforms aren’t focused on security. That means you’re trusting an exchange to protect your private keys with whatever measure they deem necessary.

Take security seriously

The reality is that if you’re a crypto investor, you should be taking the security of your digital currency seriously. Advanced users are focused on keeping their crypto protected, which means they’re taking the protection of their assets – like Bitcoin, Bitcoin Cash, and Ripple – into their own hands.

Taking ownership of your private keys gives you the control and power you need to make security a priority.

There are plenty of tools available to help you successfully manage and protect your private keys. Many of them are called wallets, but not all of them will provide the security you need.

Think about it like this: you don’t publicly display your bank account information for all to see. The first dishonest person to find it is going to clean it out. In the same vein, when you purchase digital assets, you shouldn’t put them on display on your smartphone or laptop.

You would put those valuables in a secure place, right? Most people use a bank security box or a home safe. For your digital coins, the equivalent is a hardware wallet.

Protect your assets with a physical wallet

A physical wallet’s primary purpose is to create complete isolation between your private keys and an easy-to-hack smartphone or laptop.

Hackers use malware to access smartphones and PC easily, so if you store your private keys on one or the other, you’re putting yourself at risk of losing your digital coins.

The next best thing might be a paper wallet, but when you want to access your funds, you’ll have to import your private keys onto your smartphone or computer. Plus, you’ll probably have to keep it stored somewhere, which kind of defeats the purpose of owning crypto.

Physical wallets are affordable, convenient, portable, and secure. They support multiple operating systems and numerous cryptocurrencies. These are just a few reasons why physical wallets are becoming so popular and why you should keep your digital assets in one.

How do you use a hardware wallet?

We already know what physical wallets are and how important they are to the security of your digital assets. These wallets let you directly interact with your digital coins anytime, so you can manage them whenever you want.

So how do you use a physical wallet? Here are half a dozen easy steps to get you started.

1. Purchase a wallet that makes sense for you. Any one of the five I’ve listed will do the trick.
2. Plug in your device with the provided USB cable. You might also be able to use Bluetooth technology to establish a connection.
3. Choose to either import a current wallet or make a new one.
4. Set up your PIN. Be sure to make it memorable, so you don’t have to worry about resetting your device and losing your digital coins.
5. Save your recovery phase. This is a 24-word phrase that you can use to recover your device in the event you forget your PIN.
6. Install apps on your computer so your device can access multiple wallets. Some physical wallets have browser extensions that make this easy.

That’s it! You’re ready to send and receive all your favorite digital currencies through your hardware wallet.