3 Best Hardware Wallets

By  Will McKinnon February 22, 2024

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Overview

Hardware wallets should be a staple of any crypto investor's toolset, and they are especially important for those taking self-custody of their crypto assets. Hardware wallets offer an extra degree of security for digital assets by keeping seed phrases offline and requiring a user to have the physical device in order to initiate a transaction. There are tons of companies offering hardware wallets on the market, and in this article we will dive into the three most popular ones as well as our review of them.

Main Benefits of a Hardware Wallet

  1. Seed phrase is generated offline, and never connected to the internet
  2. Physical device is required to sign and generate transactions
  3. Helps to compartmentalize your digital assets, which is a good security practice

Key Factors in Deciding Which Hardware Wallet to Select

  1. How many tokens and chains are supported
  2. The total cost of the wallet
  3. User experience
  4. Number of applications supported

Ledger

Beluga Basics:

The Ledger wallet has been one of the most popular choices for crypto traders for many years, with over 6 million customers currently registered. Ledger stores your seed phrase offline in a secure manner, making your assets safe while under your control. They have also developed an application for their wallets which offers a number of different features for users including swaps, the ability to buy crypto with a credit or debit card, portfolio trackers, and more. Ledger offers a few different wallet options for users, however all of them function very similarly. If you want a simple, user-friendly option then Ledger is the right option for you.

Beluga Likes:

  • Very popular, tried and tested wallet provider
  • Variety of functions through the desktop app
  • Easy to set up and compatible with all popular browser wallets
  • Lots of chains and thousands of tokens are supported
  • Affordable pricing

Beluga Dislikes:

  • Their email database and front end have been hacked in the past - while wallets were not affected, this is something to consider
  • Small devices are easy to lose

GridPlus

Beluga Basics:

The GridPlus is a newer wallet provider than the others on this list, however they have already made a name for themselves with their industry leading security. With their innovative way of storing seed phrases on cards, the retro-style interface, and what feels like a truly secure device, GridPlus is a top choice for many crypto investors despite its high price point.

Beluga Likes:

  • Compact yet hefty device is not easy to lose
  • Card system is very cool and helpful
  • Easily connects to popular browser-based wallets
  • Seed Phrases are generated offline

Beluga Dislikes:

  • Expensive relative to other popular wallets, at $397.00
  • Setup is complicated, not meant for beginners

Trezor

Beluga Basics:

Trezor was the first official hardware wallet for crypto, created by SatoshiLabs in 2014. For this reason, it remains the choice for many industry veterans. Trezor's code is open-source and has been tried and tested by the community for a decade now. While it may not have all the apps and utilities that Ledger offers, if you want the security of a wallet that has been around since before Ethereum launched, Trezor is for you.

Beluga Likes:

  • Oldest wallet provider with good security
  • Lots of coins supported
  • Simple device to use
  • Inexpensive price point of $75

Beluga Dislikes:

  • Less functionality than Ledger
  • Sometimes does not connect well to dApps