Keeping cryptocurrencies safe is one of the most critical aspects of investment, as even the best investment decisions mean very little if funds are stolen along the way. For this reason, it is never a good idea to keep coins in your purse. Instead, users should look for and find a cryptographic portfolio that best fits their needs.
While there are different types of wallet, including hot wallets, desktop wallets, mobile wallets or cold wallets – not everyone offers the same level of security. In the past there have been cases of hot wallet attacks, and desktop or telephone wallets are as secure as your computer or smartphone. While they are even more reliable than online portfolios, which are called hot, they can still end up being compromised by malware or if someone else accesses your devices and your private keys.
How are the cold wallets different?
Cold wallets they are generally the best choice when it comes to keeping coins safe, and experts always recommend using them when it comes to storing a large amount of crypto. These are hardware portfolios that do not have an Internet connection unless they are connected to a computer. In other words, there is only a small window of opportunity for hackers wishing to enter the wallet, ie when the wallet is in use.
As long as the user is careful enough not to lose the device itself, its coins should remain protected from any attack at any time. The only drawbacks of cold wallets are that they must be purchased and that they can not be used if not connected to a computer. Although they are less practical than online portfolios, they are infinitely safer, which is why most investors who invest seriously in crypto tend to use them.
Now, let's take a look at the five best cryptographic portfolios available at the moment, which protect investor currencies in 2019.
1. Ledger Nano S
Ledger Nano S is considered by many to be the best cold wallet on the market right now. It is a piece of hardware in the shape of USB stick with metal coating, easy to use and understand. It can be used via an app called Ledger Live, which allows users to interact with the wallet from the desktop.
The portfolio is also appreciated for the support of over 1,000 cryptocurrencies and for its ability to interact with other online portfolios. Both of these characteristics make it superior to most other portfolios, but it is also important to note that it has excellent security. While cold wallets are already safe from hacker attacks because they can not be reached most of the time, they are still vulnerable when they are in use.
To avoid unwanted transactions, Ledger Nano S also has a physical button on the device itself. Operators must press the button to complete any operation. All in all, it is an excellent portfolio that many praise for its safety, portability and ease of use.
2. Trezor T model
Trezor Model T is a successor to Trezor One, as both portfolios were built by a company called SatoshiLabs. Unlike Ledger Nano S, Trezor offered a screen and two physical buttons, eliminated from the new model. Now, Trezor Model T has a touchscreen and one of its security features is required to enter a PIN or passphrase.
This model also has a magnetic dock and a seal that can show that the device has been compromised, in case someone has ever accessed it. It supports about 700 coins, which is lower than Ledger Nano S, but still a lot. However, investors should be aware that TRON and EOS are not among the coins that Trezor is currently supporting. Another change from the original model is that it now supports XRP. The portfolio currently costs around $ 170, which is a bit expensive, but quality and security make it worth the money.
Keepkey is a wallet a little larger than the two previous portfolios, and is also different in form. It is an HD (Hierarchical Deterministic) portfolio that allows you to create and store all the keys required by users. The number of coins it supports is even smaller than what the previous wallets were offering, and is reduced to 54 coins in total, at least for now. It also comes with a desktop app that is used for simple interaction with the device. The current price of the portfolio is around $ 130.
This is a portfolio that focuses on Bitcoin and allows traders to use it even offline. It offers excellent security thanks to the encryption chip and also allows users to make a backup via MicroSD. It is an open source wallet that does not require any additional apps or software. Moreover, it is compatible with computers and smartphones, as it works as an external memory.
Coldcard also has a secondary functionality of the portfolio, which creates an additional key. This means that the wallet can act as two portfolios, which is useful if the owner is forced to unlock the wallet for someone else. In this way, some coins held in the secondary portfolio can be sacrificed to protect most of the user's funds. The portfolio currently costs around $ 70, probably because it only supports BTC.
5. Bitfi DMA-2
Finally, there is Bitfi DMA-2, which is the result of a long and detailed research that focused on finding the best way to keep secure cryptography. The portfolio supports various currencies, with the intention of adding more in the future. The new coins will automatically appear in the wallet, without the need for manual updates. This device also presents an additional security measure, which revolves around the secure keeping of the private key, not storing it anywhere outside the device. Instead, all that the owner has to do is enter a passphrase and the wallet will automatically calculate the private key. If the owner loses it, he can buy a new one and enter his passphrase, which will allow them to access their funds again. Since there is a possibility that two different owners can use the same passphrase, there is also a need for a second anchor, usually an email address or a telephone number.
In other words, even if it is lost or stolen, no one apart from the owner will ever unlock it and use the funds. Bitfi DMA-2 is easy to use thanks to a large colored screen. It's easy to use and can be bought for around $ 120.