Cryptocurrency wallets are a much safer option for storing assets than exchange accounts. They are also convenient in matters of managing funds, since they usually do not charge their own commission. The user only needs to pay a network commission when making transfers. A quality wallet requires creating a complex password, enabling two-factor authentication (2FA), and ensures that no unauthorized person can access the user's assets.
The editors of Profinvestment.com invite you to consider the best hardware wallets in 2022. These are special physical devices for storing cryptocurrencies, usually small and compact that you can carry with you.
Advantages of Hardware Wallets
A hardware wallet is not a requirement for storing cryptocurrency—many people have been holding huge amounts of money in software wallets for years. However, in this case, the theft of keys is only a matter of time. Hardware wallets guarantee a much higher degree of security compared to applications or, especially, cloud services.
The device protects against hackers and viruses by creating a barrier between the user's private keys and the Internet. Of course, they provide complete and unconditional control over private keys.
Pros of hardware wallets:
- Protection against malicious applications and hacker attacks.
- Maximum control.
- The ability to carry your device with you everywhere and be confident in the security of your keys.
- No need to rely on third party services and applications.
The main disadvantage of such wallets, which is why not everyone uses them, is the cost. Also, the disadvantages include the need to connect the device every time you need to make a transaction. But the highest safety outweighs these disadvantages.
Ledger Nano S
With over 1.32 million Ledger Nano S hardware wallets sold worldwide, it is rightfully considered an industry leader. This is quite natural, given the large number of supported cryptocurrencies and the close attention of developers to security.
Ledger Nano S supports many cryptocurrencies, including Bitcoin, Ethereum, XRP, Litecoin and others (full list available here). The company is constantly expanding this range with its own applications and programs created by enthusiasts and tested by Ledger.
The Ledger Nano S, which costs about $120, is capable of simultaneously running from 5 to 18 programs. The wallet comes with pre-installed applications for Bitcoin, Ethereum and two-factor authentication in the FIDO U2F format. However, they can be removed or replaced. New programs can be added through Ledger Manager, a kind of free app store.
Even if the device manager has been deleted, the secret keys to the crypto assets remain safe and sound. Access to them can be restored by reinstalling the manager on the Ledger device.
Secret keys are generated during the initialization process and stored in a special chip. Ledger is unable to copy them and they are not visible from the computer. Even if the computer is controlled by hackers, they will never be able to access the contents of the chip.
After connecting the wallet to the USB port, you must enter the PIN code. If you enter the wrong PIN three times in a row, Ledger will reboot, erasing all content. Attackers will also not be able to remotely wipe a wallet by sending three incorrect PIN codes, since each entry attempt requires the device to be removed and reinserted into the USB port.
Nano S is controlled by two buttons; information about all operations is displayed on the screen. This helps users monitor what is happening and securely verify all transactions.
If your Ledger Nano S is stolen or lost, access to your accounts can be restored using a 24-word backup phrase. It is created during device initialization.
Ledger Blue is another hardware wallet from Ledger. It has the same functionality as the Nano S, but looks like an iPad. Instead of a couple of buttons, the device is equipped with a full color touch screen.
Purchasing through electronic payment systems
WebMoney service has long answered the question of how to deposit money into a Bitcoin wallet, adding the ability to work with BTC. It’s convenient: you can quickly transfer money from your ruble or dollar account to Bitcoin. The rate, of course, may differ by several percent from crypto exchanges, but remains more or less adequate. Read more about profitable exchange methods in the educational program about buying crypto with a minimum commission.
Buying cryptocurrency through exchangers
The most convenient way to monitor exchange rates is the bestchange . This resource compares offers from various exchangers, giving the most profitable options . On the site you can immediately see all the reviews about different exchangers; they are written by real people. I also advise you to always leave an honest review , so you will help other people decide on the choice of an exchanger.
The advantage is speed and ease of exchange.
Disadvantages of exchangers:
- High commissions;
- The exchange rate reacts to market changes with a delay;
- Only popular cryptocurrencies are presented.
Although this method is the most convenient, it is clearly not worth losing 10-15% due to commission. It's better to consider other options.
Additional Information
Hardware wallets for cryptocurrency represent a very young segment of the gadgets and electronics market. Most of the devices are currently under development. They are quite compact and convenient, and despite this they are resistant to breakdowns and have a high level of security for clients’ personal data. Despite little experience in using such gadgets, the manufacturer claims that no vulnerabilities have been found in their operation.
With the advent of new gadgets for storing and using cryptocurrency, you no longer need to worry about the safety of your personal savings. It is enough to buy a device, configure it in accordance with the manufacturer’s recommendations and use it for your pleasure. Use cryptocurrency through a hardware system in any convenient place using your smartphone.
Trezor
Trezor is Ledger's main competitor. It was released in August 2014 and became the first hardware wallet on the market.
The company offers two models:
- Trezor One
- Trezor Model T
Trezor One is an affordable model recommended for beginners in the world of cryptocurrencies. The wallet is compatible with computers and smartphones and supports operating systems Windows 7 and higher, masOS 10.11 and higher, Linux and Android.
Trezor works with over 500 cryptocurrencies and tokens, including Bitcoin, Litecoin, Dash, Zcash, Bitcoin Cash, Bitcoin Gold, Ether (plus all ERC20 tokens), Ethereum Classic, Expanse, UBIQ, NEM and the Bitcoin testnet.
The wallet can be purchased from the company’s online store for about $103.
The private keys remain with the users, so the entire wallet can be recovered using the 24 words generated during setup. Words are created offline and displayed on the screen, never leaving the device.
To set up and confirm the transaction, you must enter a PIN code. After each incorrect attempt, the waiting time doubles. Thus, 30 attempts will take about 17 years.
Users can add a password to the passphrase for added security. It acts as the 25th word. If your wallet is stolen or damaged, you can restore it using your password and backup phrase.
Purchasing through a crypto exchange
The Yobit and Exmo exchanges performed well . They support working with fiat, and they also have direct withdrawal. The commissions are small and, most importantly, they support rubles . Through some payment systems, exchanges do not charge commissions at all.
You can add fiat currency to the Yobit exchange without % through the following services:
- Payeer;
- Perfect Money;
- AdvCash;
- Capitalist.
On the Exmo exchange, unfortunately, it is not possible to deposit money without commission, but you can withdraw it for free through the AdvCash service.
CoolWallet S
CoolWallet S by CoolBitX is a mobile wallet for storing Bitcoin, Litecoin, Ether, Ripple, Bitcoin Cash and ERC-20 tokens. A durable, lightweight wallet the size of a plastic card is not afraid of water, resistant to hacking, unauthorized access, high and low temperatures. The device costs $99.
CoolBitX has signed a partnership agreement with the decentralized exchange JOYSO, allowing you to trade cryptocurrencies directly in your wallet.
For initial setup of CoolWallet S, an application for Android or iOS is required. Users must download and install it and then connect to the wallet via Bluetooth using a one-time password. After this, they will be asked to create a new wallet.
When creating a wallet, you can generate a backup phrase of 12, 18 or 24 words. If lost, it will help restore its contents in the mobile application.
Alternatively, you can use any other standard deterministic wallet that uses the same protocol.
Digital Bitbox
Digital Bitbox is a minimalist wallet from a Swiss company. It places special emphasis on security and privacy. Bitbox supports offline and simplified backup, plausible deniability, multi-signature. There is a full-fledged client for PC and a mobile application for verification and two-factor verification.
BitBox is a plug-and-play hardware wallet that allows you to store, receive and send cryptocurrencies. It currently supports Bitcoin, Ethereum, Litecoin and ERC-20 tokens. In the future, the developers plan to expand the list of available coins.
The device comes with a micro-SD card. It greatly simplifies data protection, backup and recovery.
If BitBox is stolen, attackers will have to crack the password to gain access to the coins. If two-factor authentication is enabled, they will also need a second device (such as a mobile phone). After 15 unsuccessful attempts to enter the password, BitBox will erase all contents and reboot.
How to choose
When choosing a cold wallet:
- Decide which device will be used to gain access. This can be either a PC (including a laptop) or a smartphone.
- Consider the cryptocurrencies you want to use or buy. A device configured for Bitcoin may not work with other altcoins.
- Evaluate the functionality. If the presence of a touch screen is important, then you should pay attention to its size and quality. The same goes for additional options. If you plan to use your wallet rarely, the functionality of the device does not play a big role.
A program for working with a cryptocurrency flash drive is installed on the computer.
You also need to choose the type of case. A cryptocurrency device made of plastic is suitable for careful owners. The metal version, in turn, is more resistant to falls and other impacts.
TOP 8 Bitcoin wallets in Russian in 2022
Since we are focusing on miners and traders from the CIS countries, this parameter is very important, since a small number of people have still learned English. The presence of Russian-language support and interface simplifies the use of the storage and makes it more convenient.
Binance wallet
Binance initially began to conquer the world of cryptocurrency as an exchange. As of 2021, it is one of the largest players in this market, not only for the CIS countries, but throughout the world. Naturally, the functionality is constantly expanding, new opportunities are opening up, and soon our own Bitcoin wallet address appeared. Moreover, now it is created automatically as soon as you register on the crypto exchange.
Binance's main focus is trading. Therefore, this storage facility is primarily suitable for those who are going to actively engage in trading or investing. Of course, it is also good as a safe for cryptocurrency, but still, most of the bonuses and advantages appear when using it specifically for trading. It is cheaper to withdraw funds from it to the exchange, the commission for transactions is lower, and the processing speed is higher.
Binance guarantees 100% protection of your funds, which is confirmed by the absence of negative reviews on the network. This storage also provides convenient tools for buying and selling crypto.
Trust wallet
The second official storage from Binance, but with more advanced capabilities. Like the previous option, a huge number of tokens are supported here, thanks to which Trust wallet BTC can be called universal.
Here, too, it is possible to buy crypto directly from the card, or receive it at an exchanger. Naturally, the most profitable option would be to purchase through the exchange, where the rates are more favorable, but this requires time and skills. And the exchange directly to Trust wallet occurs instantly, but for this you have to pay a commission, albeit a small one.
There is an application for smartphones on Android and iOS so that funds can be accessed everywhere. Staking is also present, and if you own a suitable coin, for example, ETH, you can make money from it.
Trustee wallet
Mobile online Bitcoin wallet that supports a relatively large number of tokens. It has been working for quite a long time, and during this time there has been no news about any hacks, so we can confidently declare its security. Allows you to instantly exchange crypto for fiat via bank cards and vice versa. The site and storage are completely in Russian, which makes it easy to use.
Trustee wallet stands out for its simplicity, making it perfect for beginners. It can use a card with a Bitcoin wallet directly, that is, as if you were buying a regular product in a store, but the object of purchase is cryptocurrency.
Trusty operates staking, which makes it not just storage, but passive income. This is an interesting opportunity, since Ethereum should soon switch to PoS, and staking will become as relevant as possible.
There is a small bonus system that allows you to return part of the funds from transaction fees. Additionally, it should be noted that there is a 24-hour support service in Russian, which helps to quickly solve any possible problems or answer any questions you may have.
Matbea
Initially, it was an online crypto exchanger, but later it became possible to get your own Bitcoin wallet address. The developers talk about the safety of their brainchild, which is also confirmed by positive reviews on the Internet. Not many tokens are supported besides BTC, but the main ones are present, for example:
- Ethereum;
- Litecoin;
- Dash;
- Zcash;
- Monero.
Matbea has the ability to purchase crypto through bank cards, even those issued in Russia:
- Sberbank;
- Alfa Bank;
- Russian standard;
- Tinkoff;
- Promsvyazbank.
If we compare Matby directly with other repositories, then in most cases it gives a better rate in the exchanger. But it should be taken into account that the transactions themselves are somewhat slower, which will not suit all traders who are constantly engaged in buying/selling.
Payeer
Surely all our readers are familiar with this payment system, since it is among the TOP most popular among residents of the CIS. Recently, she decided to combine Bitcoin wallets with real money, for which she opened her own resource. In addition, there is a built-in exchange where you can trade crypto quickly and with a relatively small commission.
The convenience of this crypto wallet lies in the ease of replenishment. To do this, you can use almost everything that Russian-speaking users are used to:
- Yandex money;
- QIWI;
- ADVCash;
- Perfect Money.
Thanks to the mobile application, all this can be done directly from smartphones. However, withdrawals can only be made to VISA and MasterCard cards, as well as MIR.
If you are an active trader, then there is a chat for traders, where they discuss current news, prospects for new tokens and much more. In most cases, conversations are conducted in English, but there are also representatives of the Russian-speaking community.
Okex Onchain
Large crypto exchanges prefer to create their own storage facilities so that all their users visit other resources as little as possible. So the Okex exchange introduced the ability to log into a Bitcoin wallet directly from the site interface. A huge community from the Russian Federation and the CIS allowed it to take 2nd place in popularity, after Binance.
Okex guarantees the safety of storing funds on its resources, so you don’t have to worry about it. There is an application for Android and iPhone, which increases ease of use. A large number of coins are supported, especially on the ERC20 algorithm.
CoinBase
Another player that allows you to transfer Bitcoin from wallet to wallet as quickly as possible, thanks to direct exchange, if you are willing to pay a fee. Well-known traders highlight CoinBase as a convenient long-term cryptocurrency storage facility.
If you wish, you can earn money on CoinBase. This happens by issuing loans and supporting new tokens, for example:
- AUCTION;
- FET;
- CLV;
- GRT;
High popularity in the global community of miners and traders inspires confidence in the safety of storing funds in CoinBase. In addition, despite the large number of possibilities, even a beginner can use it, since the interface is very simple.
Perfect Money
Another popular payment system in Russia and the CIS, which has acquired its own crypto storage. So far there is only 1 coin in its arsenal, so you can only get a BTC wallet address. Among the advantages of the system, it is worth noting the minimum commission for exchanging cryptocurrency into fiat, as well as the simplicity of the interface.
Perfect Money wallet can be recommended for those who work exclusively with BTC, or are simply looking for a reliable option for storing their funds. Due to the lack of support for other coins, you will not be able to directly exchange for Ethereum, Dogi, etc. from here. But you can quickly withdraw it in real money, and only then, through some exchange, get the desired token.
The difference between a hardware crypto wallet and conventional flash drives (USB flash drives)
They have a similar operating principle, but USB drives are not designed for secure storage of information and currency.
- Rogue software can easily copy or read data on a flash drive, even if it is encrypted with keys.
- It is also easy to replace the transaction recipient addresses, which will lead to the transfer of funds to someone else's wallet.
- Loss or theft of the drive will permanently deny the owner access to the data, even if it is protected by a password or PIN code.
Malicious software has long learned to gain access to complex passwords by guessing a passphrase using automatic dictionaries.
Bitfi Knox
Unlike other hardware wallets, Bitfi Knox does not store private keys on the device itself. That is, there is absolutely no point in stealing it. Instead, Bitfi uses an innovative system for generating private keys on the fly. This ensures that the keys are never revealed to any other connected devices.
Bitfi Knox hardware wallet. Source: YouTube
Perhaps the only disadvantage of Bitfi Knox is its size - the wallet is noticeably larger than other options on the market.
