Physical wallets Bitcoin consists of a wallet of digital currencies that fulfills the same function that a bank account has, the storage of money. The functioning of physical portfolios can be based on the following two elements:
- Regarding the public address.
- Regarding the private key.
Simply a purse is the union of the two elements presented and therefore, the type of wallet will depend on the way in which the private key is stored. For this reason there are several purses that are safer than others, there are different ones that are more uncomfortable or comfortable when using them. In general, their degree of comfort of use can be the opposite of security, as we will see later in this article.
Physical wallets are the safest, since they are not literally exposed to the internet and, therefore, it is very difficult for someone to steal our private key.
Within the physical wallets, two types of these can be highlighted:
- Wallets that are hardware-based: They are devices that look like a pendrive or a portable hard drive that are responsible for storing your private keys and with them you can make payments. This is a better solution for people who do a lot of transactions and who store a lot of digital currencies, in order to achieve a balance between speed and a lot of security. One of the most used physical wallets are those of the Trezor company.
- Physical paper wallets: This is one of the physical wallets that people have the highest preference for when it comes to not using their digital currencies for an extended amount of time, i.e. cold wallet. This type of purse can provide you with a high degree of security, without taking into account that unfortunately it is somewhat slow when you are going to use it.
The most reliable and protected devices for storing cryptocurrencies of the two options above are hardware wallets (physical wallets). Regarding the interest of people towards digital currencies, this article will be specified in the information about different types of physical or hardware wallets for cryptocurrencies, and that you can choose the one that you consider best for your needs.
The most recognized companies operating in the industry are Ledger and Trezor. Its products are said to use a considerable number of investors. Ledger and Trezor produce an entire line of devices for storing bitcoins and a variety of altcoins.
Trezor currently produces one of the more protected physical wallets from hacking and hacker attacks. That purchase should cost you approximately 89 euros, which is considered a reduced amount if we compare it with the cost of the bitcoins that we can store in this wallet. However, it is important to be careful and make the purchase only in the official website (send by mail) or by an authorized dealer.
In case you plan to store small quantities, I can offer you another alternative. You have the opportunity to create a physical wallet from your flash drive. The most advisable thing is that instead of using a flash card, use two or more to guarantee total security.
Additionally, a reliable instrument for cold storage of digital currency can be software or an old paper wallet. The only thing you will need is to write some data for the recovery, later which can keep the artifact offline until you file the lawsuit.
What physical wallet for cryptocurrencies can I choose?
- trezor: This is considered the safest and most original manufacturer of physical wallets, a large part of the market investors have decided that the best option is Trezor. The cost that their products have is $ 89 on the official distributor's website. Their wallets are waterproof and very durable, you can get them in white or black. Additionally, the products of this company are equipped with a small screen where you can see the information to verify the data of your transactions, the password manager, the authentication of a couple of factors, among many more. Trezor physical wallets are compatible with ZEC, DASH, LTC, BCH, BTC and with nineteen other digital currencies and ERC20 tokens.
- Ledger Nanos: Ledger Nano s physical wallets are compatible with ETH, BTC and a few more digital currencies and have also maintained a good reputation among investors. In addition, lately this company declared the sale of approximately one million of its instruments.
These wallets are also equipped with a small screen, as well as a button on the side of the device that must be used to confirm a transaction. Apart from Nanos which has a cost of 95,59 euros, on the official website we can see that Ledger also produces physical purses at the corporate level, these are called blue. These instruments have a large screen and a variety of additional functions. The cost of this (Ledger Blue) is 269 euros.
- KeepKey: This company is little recognized compared to the others, but it produces somewhat different physical wallets. The Keep Key company produces wallets that allow you to store DOGE, DASH, LTC, ETH, BTC. It is important to add that these devices have the function of exchanging between assets directly from the instrument, for this they use ShapeShift technology.
This company grants you a private key by using their hardware-based (physical) random number generator, randomly matching provided by the computer.
Once you have obtained your private key, you are given a single opportunity to write some backup your KeepKey, in the form of a sentence to recover from about twelve words.
Your security key will be stored securely on your KeepKey device without disregarding it. This instrument is protected with your password or PIN, which will make it totally useless when it falls into the wrong hands. Also, this is compatible with clients that include Electrum and Mycelium.
Despite all the above, a disadvantage is that it can only be purchased by previous order without the delivery date being confirmed. Its cost is $ 129.
- bitlox: The peculiarity of Bitlox's physical wallets is that they do not use a USB to connect to the computer, but they do so through Bluetooth. Generally the models that this company has, Bitlox resembles a thin smart card. The cost of this is from 98 euros. Unfortunately, in terms of storage, it is only available for BTC, but its developers claim that in the near future, these physical wallets will allow altcoyins. Additionally, the Bitlox company has an affiliate program, which allows them to get some benefits and be able to be a representative of this company.
- Digital Bitbox: These physical wallets do not have a screen on the device. Digital Bitbox uses a micro SD card, and this also has Tor and Tails support. Regardless of your small job, it has a wide variety of functions and a system for two-factor authorization, and it has a high level of security. This is produced in Switzerland and has an approximate cost of 59 euros, with the delivery the payment is 78 euros.
Digital Bitbox is a physical bitcoin wallet that has a minimalist design, which makes it a very private and totally safe product. So you can keep and spend your digital currencies safely and with peace of mind.
The groove that micro SD card has integrated, allows to get the copy and recovery even though you have no connection. You will not have the need to expose your physical wallet while typing on a keyboard or while displaying recovery information on a screen, leaving it prone to theft by keylogging, cameras, or screenshots.
Not like others hardware wallets, With this device, you have the ability to back up your physical wallet as often and whenever you see fit. You can switch between different wallets quickly.
All the devices that have been mentioned previously in this article have been tested by millions of users, they have had successful results so do not worry and doubt about the security they have.
It is advisable to choose the model that best suits your needs, remember to investigate more thoroughly about these since it is preferable not to make an unnecessary expense.
We know that these devices are among the safest since in this way you will not put yourself at risk by exposing your information to the internet, in addition to the fact that each company offers you different security options so that you can choose the one that best suits you. However, what should be noted about these products is that they provide you with the opportunity to be able to store digital currencies independently and manage the keys, without having to rely on the other services and platforms that are centralized.