Bitcoin hardware wallets are almost essential if you have a large amount of Bitcoin. The reason is that storing Bitcoin on a hardware wallet makes it virtually impossible to hack or steal. In fact, as of now, there haven’t been any reports of stolen Bitcoin from hardware wallets.
Bitcoin hardware wallets often don’t operate with any operating system, which means they aren’t vulnerable to malware or hackers. When you accept payments or send payments, you can confirm things directly on the wallet’s screen.
Most normal wallets that you can use on your computer or phone are free, and these wallets can be decent. You probably have used wallets like Multibit and Breadwallet before. However, since they are located on your computer and phone, it means that if a hacker got a handle on your devices, your money could be vulnerable. If you have thousands of dollars invested into Bitcoin, this isn’t a risk you want to undertake.
The one bad thing about Bitcoin wallets is that they cost money. It’s similar to how a bank might work. You have to spend a little bit of money to make a secure checking account. In the same way, you spend a little bit of money to secure your Bitcoin.
I think that the best bitcoin hardware wallet is the KeepKey, just because it has the best quality screen which makes setting it up and using it very easy. However, you aren’t here for the best; you’re here for the cheapest bitcoin hardware wallet!
So what is the best cheapest Bitcoin hardware wallet?
The Nano S comes with most features that you need. It has a readable screen, buttons to confirm transactions, a compatible app with multi-platform support, and support for tons of cryptocurrencies like Ethereum, Litecoin, Dogecoin, Dash, and Zcash.
One of the cooler things about the Nano S is that it also doubles as a two-factor authentication device with FidoU2f. And is it secure? Very secure actually. The Nano S uses an encrypted chip to store your keys which are locked by your pin code on the device itself, never stored on your computer.
Ledger Nano S Alternatives?
If you want to stay under $70, there isn’t any alternatives. However, as I mentioned before, I think the KeepKey device offers a bit more of a premium experience, even if the functionality and result is mostly the same.
Secure Cryptocurrency Further?
If you want to secure your Bitcoin transactions and your network even more, I would encourage you to start using a VPN like TorGuard VPN. You can read this article here if you want to know exactly why you should use a VPN in conjunction Bitcoin use.