Top 5 Hardware Wallets tested and rated
If you own crypto assets of significant value or simply want to protect your crypto coins from external access, there is almost no way around a good hardware wallet for cryptocurrencies. With the best hardware wallets, crypto assets can be managed independently of any third party, with high security, for low costs.
The hardware wallets available on the market differ heavily in factors such as security, price, and integrations, which raises the question of which crypto hardware wallet is the best for 2024.
We have tested numerous hardware wallets for crypto from well-known manufacturers and rated them based on the most important factors to create an up-to-date hardware wallet overview.
Overview of Hardware wallets
As the market for the best hardware wallets for cryptocurrencies is currently still relatively small, it's relatively easy to make a purchase recommendation for the top hardware wallets based on their key advantages:
Ledger Nano S is recommended for all general purposes
↳ Very affordable, many functions and integrations, pretty much all coins and NFTs supportedLedger Nano X is particularly suitable for use on a smartphone
↳ Wireless via Bluetooth, app for Android and iOS, Larger storageBitBox02 shines particularly in terms of safety
↳ Most secure hardware wallet, backup on included SD card, open sourceTrezor Model One is the cheapest hardware wallet from our test
↳ Transparent due to open-source, many third-party integrationsTrezor Model T is characterized by a very large touch display
↳ Way larger than competitor models, but very expensive
As you can see in the overview above, different hardware wallets for cryptocurrencies are recommended for different use cases.
What is a Crypto Hardware Wallet?
A hardware wallet for cryptocurrencies can be seen as a management tool for storing, receiving, and sending cryptocurrencies. While hardware wallets fulfill the same task as regular software wallets that you can download on your devices, these specialized types of wallets store the private key, which acts as a password to your cryptocurrencies, on a secure device.
The reason why hardware wallets are so secure is the fact that they never expose your crypto private key to any connected device that could potentially be infected by malware, which could grant hackers access to all of your crypto assets.
At the same time, the models from our crypto hardware wallet ranking are barely any harder to configure and use than simple software wallets, making the price of hardware wallets the only reason why one would not want to purchase one.
Who needs a hardware wallet?
With the rise of crypto's popularity has also come a rise in cybercrime, as more and more hackers try to steal crypto assets. For that reason, it's important to ensure the security of your cryptocurrency investments, which is where hardware wallets come into play.
While even the best hardware wallets do not necessarily protect you from your own mistakes, they more importantly allow you to securely store your crypto assets, because they offer extremely high security for your private keys which provide access to all of your cryptocurrency assets.
Hence, anyone who has invested a significant amount of money into cryptocurrencies should consider managing his his with a hardware wallet to increase the security of their assets.
Still, even though we generally recommend purchasing a good hardware wallet, we would not recommend all hardware wallets to all crypto users equally.
Below, we summarize our test results and highlight the pros and cons of the most popular available hardware wallets.
1. Ledger Nano S Plus: Overall Winner
The 'Nano S Plus' by Ledger is arguably the most popular hardware wallet for cryptocurrencies, NFTs, and DeFi. The Nano S Plus is in first place in our hardware wallet test, as the 'Nano S Plus' seems to be the only wallet from our hardware wallet test that meets all the needs of most crypto users.
In our crypto wallet test, Ledger's Nano S Plus has been rated as the best crypto hardware wallet overall.
With only a few exceptions, the Ledger Nano S Plus supports all cryptocurrencies and NFTs in Ledger's own app 'Ledger Live'. Moreover, the Ledger Nano S Plus is one of the most established hardware wallets that can integrate with almost all crypto apps out there.
| Price | $79.00 |
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| Pros |
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| Cons |
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| Total Coins |
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| NFT Support | Yes |
| Recommended For | Beginners |
| For Platforms | |
| Backup | 24 Words |
| Made In |  FR |
The Ledger Nano S Plus is the best hardware wallet for cryptocurrencies in terms of value for money. In fact, over the years, the Ledger Nano S Plus has even proven to be the most popular hardware wallet ever.
Also, since the Ledger Nano S Plus is the hardware wallet with the most coins from our test, you don't have to worry about compatibility with your cryptocurrencies in most cases.
Apart from minor flaws, such as the lack of support for iOS devices, we recommend the Ledger Nano S Plus to all crypto and NFT users, due to its versatile usability, solid security, and good build quality at a reasonable price.
Neither the firmware nor the native desktop app of the Ledger Nano S is open-source. Also, this hardware wallet lacks support for iOS devices.
2. Ledger Nano X: Best for Mobile
The 'Nano X' hardware wallet from Ledger is an upgrade of the Ledger Nano S Plus with additional features, such as a touch display and full compatibility with iPhones and Android smartphones via Bluetooth.
The Ledger Nano X is the best hardware wallet for mobile phones from all reviewed hardware wallets tested by us.
Due to fully integrated Bluetooth support, the Ledger Nano X wallet is highly convenient to use and particularly suitable for mobile devices.
| Price | $149.00 |
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| Pros |
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| Cons |
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| Total Coins |
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| NFT Support | Yes |
| Recommended For | Beginners |
| For Platforms | |
| Backup | 24 Words |
| Made In | FR |
After testing the Ledger Nano X, we feel that this top hardware wallet has eliminated all the usage-related drawbacks of older Ledger hardware wallet models. This makes the Ledger Nano X a good hardware wallet for iPhones and Android devices and one of the best general-purpose hardware wallets from our ranking.
The Ledger Nano X is a great alternative to the cheaper crypto hardware wallet 'Nano S Plus' for those who appreciate wireless usage - even on smartphones, and larger storage for more cryptocurrencies and NFTs.
The few additional features of the Ledger Nano X may not be too useful for all Desktop users.
3. BitBox02: Secure Hardware Wallet
The Bitbox02 wallet from Shift Crypto is a Swiss-made hardware wallet for cryptocurrencies. The BitBox02 hardware wallet supports many popular crypto coins directly with its native desktop and Android app 'BitBoxApp'.
The BitBox02 was rated as the most secure hardware wallet from our test.
Shift Crypto's BitBox02 hardware wallet features a unique dual-chip architecture that allows this hardware wallet to be open-source while being discreetly protected from physical hacks by a Secure Element, making it the safest hardware wallet in our opinion.
| Price | $149.00 |
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| Pros |
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| Cons |
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| Total Coins |
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| NFT Support | Yes |
| Recommended For | Beginners |
| For Platforms | |
| Backup | SD Card, 24 Words |
| Made In |  CH |
As both the BitBoxApp and the BitBox02 hardware wallet's firmware are open-source, the BitBox02 is verifiable and reasonably secure from functional bugs.
The BitBox02 is pleasant to use on desktop and Android devices and has the easiest setup of all hardware wallets we tested so far, as the BitBox02 comes with an SD card that can be used as an easy backup method.
Due to the uniquely secure and transparent architecture of BitBox02 , we recommend this crypto wallet especially to those who have invested a larger amount in cryptocurrencies and value above-average security at a moderate price more than the multitude of supported altcoins.
However, since the BixBox02 hardware wallet lacks support for many smaller crypto currencies, this hardware wallet might not be the best option for altcoin fans, for whom we rather recommend the Ledger Nano S Plus or
Ledger Nano X hardware wallet for crypto.
4. Trezor Model One: Cheap Hardware Wallet
The Trezor Model One by SatoshiLabs is the oldest, open-source hardware wallet for cryptocurrencies and NFTs that has been battle-tested over many years. Moreover, the Trezor Model One is the cheapest hardware wallet from our test.
The Trezor Model One is the cheapest hardware wallet from our test.
With the free 'Trezor Suite' app, this hardware wallet natively supports numerous cryptocurrencies and NFTs, yet it still lacks support for some major altcoins.
| Price | $69.00 |
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| Pros |
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| Cons |
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| Total Coins |
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| NFT Support | Yes |
| Recommended For | Beginners |
| For Platforms | |
| Backup | 24 Words |
| Made In |  CZ |
The Trezor Model One is an established and well-integrated hardware wallet with satisfactory functionality and build quality considering the low price. Moreover, the Trezor Model One hardware wallet runs on open-source firmware and thus delivers a very high level of transparency and manufacturer-independent verifiability at a very affordable price.
If you only own a few different crypto currencies or NFTs and at the same time place high value on open-source, the Trezor Model One is a good, cheaper alternative to the BitBox02 hardware wallet by Shift Crypto.
The Trezor Model One crypto wallet doesn't support as many different cryptocurrencies compared to other wallets from our hardware wallet rating 2024 and also does not have a built-in Secure Element.
Using multiple Hardware Wallets
For advanced users, it can be worthwhile to use multiple hardware wallets that are tailored to the intended use, as there is currently no device - even among the best hardware wallets - that's perfect for all use cases.
For example, if the very majority of your crypto portfolio is in Bitcoin, it may be beneficial to purchase a Bitcoin-only hardware wallet, such as the BitBox02 Bitcoin Edition, in addition to a universal hardware wallet. You can then use this Bitcoin-only wallet to manage your Bitcoin separately and securely, as a Bitcoin-only hardware wallet is highly secure against potential critical malfunctions due to its limited functionality.
Likewise, you can use the highly secure, open-source hardware wallet BitBox02 as a cold storage wallet for your most valuable crypto assets, for example, and use the
Ledger Nano X only for payments and smart contract interactions, as the 'Nano X' supports many different cryptocurrencies.
While this may seem overwhelming at first, I personally use this setup and wanted to share it for the sake of completeness. We came to the conclusion that such a multi-wallet setup is a valid approach to maximize the security and functionality of hardware wallets.
Decisive Criteria for Hardware Wallets
The devices from our hardware wallet ranking were tested and rated based on the following, important criteria:
Setup difficulty: While some hardware wallets like the Bitbox02 have an instant setup with the help of an SD card, others require a manual setup.
Price: The price is a key factor when ranking hardware wallets, as it's the only barrier to entry.
Supported Coins: Before you decide to buy a hardware wallet, ensure that your cryptocurrencies are supported.
Usability: Hardware wallets with touch screens and wireless usage, like the Nano X, are easier to use than those with haptic buttons.
Safety: Some hardware wallets are open source, while others have a discrete secure element. Similarly, some have experienced security and privacy scandals, while others haven't.
3rd party Integrations: For those who actively use their hardware wallet, it's essential that integrations at third-party apps are in place.
It is important to note that not all criteria for testing hardware wallets are equally important for every user because hardware wallets can be used in many individual ways.
Depending on your individual use cases, different products from our hardware wallet test are suitable as the best hardware wallets.
You should likewise not simply pick a hardware wallet blindly, as it should be tailored to your own needs as a cryptocurrency user.
Supported Coins
If you want to store many cryptocurrencies and NFTs on your hardware wallet, you should check if the wallet supports your tokens first.
All of the top 5 hardware wallets tested on this page support the most popular crypto coins, but unfortunately, there is no hardware wallet that offers support for all cryptocurrencies.
Based on our ranking, the Ledger Nano S and the Ledger Nano X are the hardware wallets with the most coins.
The crypto assets are mostly supported directly in Ledger's native wallet software. Hence, we think that the wallets by Ledger are the best hardware wallets for NFTs and altcoins.
Another important factor to consider is whether hardware wallets support cryptocurrencies natively, or only via external third-party software wallets. To eliminate the chances of functional errors, the best hardware wallets for altcoins should provide direct support for many cryptocurrencies and NFTs directly in the manufacturer's software, which is the case for the top 5 hardware wallets from our test.
Security
Probably the most important reason for purchasing a hardware wallet for cryptocurrencies is the increased security of your crypto assets. Since every hardware wallet from our overview does not share the private key (access key) of your cryptocurrencies with connected devices, all hardware wallets are very hard to hack by default.
In terms of security, the BitBox02 shines with both a secure element and open-source software. Furthermore, the BitBox02 was never involved in any major security or privacy scandals, online some other hardware wallets.
We believe that these belong to the most secure hardware wallets available on the market.
A risk to the security of even the best hardware wallets arises when the cryptocurrency wallet physically falls into the hands of an experienced attacker who can exploit vulnerabilities in the hardware wallet. While many of the best hardware wallets implement a so-called Secure Element that is supposed to protect the device from physical hacks, these security chips are usually not open-source. Therefore, even the physical security of hardware wallets cannot be verified.
A common security feature of hardware wallets is the ability to verify destination addresses on the hardware wallet's display before making any crypto transaction. This makes it easy to detect potential malware on your computer that alters wallet addresses and prevents crypto hacks.
Third-party app and exchange integrations
In addition to just managing cryptocurrencies, hardware wallets can also be used with external apps and other software wallets. All devices from our hardware wallet ranking can theoretically be used with any third-party cryptocurrency application, but not all external apps offer such integrations.
In our hardware wallet test, we found that the Nano S Plus and
Nano X are fully supported in pretty much all third-party crypto apps.
The BitBox02 hardware wallet from Shift Crypto, on the other hand, currently lacks technical support in many popular crypto apps, such as the MetaMask wallet.
Conclusion: Which hardware wallet is the best?
Currently, the selection of hardware wallets for cryptocurrencies is still quite small, hence every tested device from our ranking can be recommended for different purposes.
Our test revealed that the hardware wallets Nano S Plus and
Nano X are the best hardware wallets for most cryptocurrency users.
For more experienced crypto users who know their exact requirements for a hardware wallet, the BitBox02 , which shines in security, and the
Model One , which is particularly cheap, can also individually make great options.