Wallets form an integral part of the digital currencies or the so-called cryptocurrencies. As one gets into the basic know-how of the crypto tokens, coming across the term “Wallet” and “Hardware Wallets” is but obvious.
Do not get misled by the term cryptocurrency wallet that you will encounter in the process of cryptocurrency development.
Instead of being a vault to hold on the digital tokens, these are used as storage for private keys. They are the gateways to your cryptocurrencies that are stored on the blockchain ledger.
This article will cover the necessary information about the hardware wallets that is required before you invest in Bitcoin wallet development.
Also, a glimpse of significant hardware wallets that are astonishing the market for a while and what makes them different from their competitors.
Hardware Wallets
“Cold storage” is the word that comes first into the mind when we talk about hardware wallets. Hardware wallets are a secure portal to store sensitive data. With a minimalistic design, they are immune to the malware that might expose your confidential data to the bad actors in a way that they are no longer in control.
There are many benefits of having a hardware wallet, i.e. from storing keys, to aiding in signing transactions and also to broadcast them.
This marks the importance of Bitcoin wallet development or cryptocurrency wallet development.
Scroll down to see some of the leading hardware wallets that might help you to give the right direction to your business idea-
Ledger Hardware Wallets:
Ledger, an old name in the hardware wallet industry, is a reliable brand. Ledger hardware wallets work with the support of a free to install desktop application namely “Ledger Live”. Below mentioned are the hardware wallets manufactured under the name Ledger-
Ledger Nano S: The sleek design, appealing interface and the variety of altcoins that it supports contribute to the Ledger Nano S’ popularity. Ledgers Nano S comes at a reasonable price, making it an ideal choice amongst the users.
Ledger Nano X: A compact hardware wallet that also features a built-in display that shows the status of the transactions similar to its predecessor.
However, the screen of the Ledger Nano X is much bigger and enhanced. Ledger Nano X is the improved version of the Ledger Nano S. It also supports Bluetooth connectivity, unlike the Ledger Nano S.
TREZOR Hardware Wallets:
It was the first company to spark the idea of hardware wallets. The wallet is based on an open-source technology that means it is free to use. What makes it an even more reliable brand of the hardware wallet is the feature of TREZOR to support over 1000 crypto assets.
Let us discuss the hardware wallets for which TREZOR’s hype is all about-
TREZOR One: TREZOR One was initially known as TREZOR as it is the oldest and TREZOR’s first hardware wallet. Having a basic design, TREZOR One is simple to use and accepts a wide range of cryptocurrencies like Bitcoin, Ethereum, Litecoin.
Being the oldest does not mean it to be cheap; however it is available at a reasonable price.
TREZOR Model T: It is an upgrade over the previous model. TREZOR Model T features a big touch screen. The former and the latter models share the same concept; however, the additional screen increases the functionality.
The touch screen makes it convenient for you to enter the seed phrase during the initial setup of your hardware wallet. Also, it makes your data secure from getting stolen.
Another feature that makes TREZOR Model T an upgrade over its prior version is that it accepts some new brands of cryptocurrencies such as ADA, XRP and XMR.
KeepKey Hardware Wallets:
KeepKey having the features that one can relate to the TREZOR One, is an attractive and thoughtfully designed hardware wallet.
KeepKey is a hardware wallet emphasized on Bitcoin and hence limiting its capabilities. Also, being large in size that does not fit in the pocket makes it a bit hectic to carry.
Ellipal: It does not use any wired or wireless connections that make it an isolated platform.
Ellipal operates through QR codes with the help of the integrated back camera that makes it a secure cryptocurrency hardware wallet.
Safe-T mini: Manufactured by a French multinational company that deals in electronics, Archos, developed a hardware wallet with basic design and features and launched it by the name of Safe-T mini. Featuring a small interface with limited capabilities, Safe-T mini requires additional software installations to operate efficiently.
Final Words
Now when you are aware of the term hardware wallet, what it is used for and the unique concept of some of the leading brands in the market of cryptocurrency, it is the right time to invest in the Bitcoin wallet development before the fight for setting the threshold gets tougher.
Cryptocurrency development flourishing at a fast pace after the success of the blockchain can be an intelligent investment that will provide you with good returns in the future.
