There are high hopes for #2 cryptocurrency. It is expected that the recently completed transition of the Ethereum blockchain to the PoS consensus algorithm will give a powerful impetus to the development of the DeFi sector and the coin will begin to grow in price. The current difficult period for the market, many investors see as a great time to enter.
Buying a lot of ETH is technically easy, as is converting USDT to USDC, but the larger amount needs to be stored somewhere. The recent hack of Binance and the bankruptcy of FTX once again demonstrated to users that it is better not to store large amounts in an exchange wallet.
Mobile and local storages are more reliable, but still, if we are talking about a large amount and a long storage period, it makes sense to consider purchasing a cold wallet
A hardware cryptocurrency wallet is a gadget for storing cryptocurrency and managing assets, their popular models can work directly with crypto exchanges. Externally, devices from different manufacturers look like a compact smartphone, an external memory drive, a credit card, etc. Since hardware wallets are designed for cold storage of assets, there is no direct connection to the Internet for transactions. For this purpose, they are connected to a computer or smartphone via a USB cable or in another way.
Learn more about software and security
Hardware wallet software is designed for protection and access to funds, installed by the manufacturer or downloaded from the official website of the developer. Mistakes made by manufacturers are corrected in new gadgets. Hardware wallets are issued with software that generates the following access codes and keys:
- PIN code to access the device.
- The private access key to the assets is randomly generated by the software.
- Seed-phrase from a secret sequence of 12-24 words, to restore access to the contents of the gadget in case the key is lost.
The best cold wallets for Ethereum.
Ledger Nano X
Ledger devices consistently appear in all rankings of the best cryptocurrency storage devices. The Nano X model has a large amount of memory, so you can store up to 100 applications, instead of the 2-3 that the Nano S model contained.
The wallet has a relatively large display. It also supports Bluetooth technology, which allows you to use the device for wireless synchronization with the Ledger Live smartphone application.
Like its predecessor, the portable Nano X supports a wide variety of cryptocurrencies. Regardless of which service you use to convert SOL to CAKE, the purchased coins can be sent to your Ledger. Thanks to the latest software updates, full support for Ethereum 2.0 has been implemented.
Thanks to modern cryptography and private transactions taking place inside the wallet, everything will be fine with your assets. Trezor supports all major coins: BTC, LTC, ETH, XRP, XLM, etc.
The Trezor Suite application is used to interact with the blockchain. After its implementation, the use of key features has become more convenient, including one-click Tor integration and the ability to buy or send cryptocurrency directly to a hardware wallet. In addition, the Trezor device can be integrated with some software repositories.
Tangem Note Ethereum
Tangem Note Ethereum looks like a regular plastic card. It is designed to make buying, holding and selling Ethereum easy and secure. The keys of cryptoassets are securely protected and stored on the card. The Tangem app gives you full access to operations. All transactions must be confirmed by physically attaching the card to the smartphone. That is, no one except the owner of Tangem Note Ethereum will be able to make a transaction.
D’CENT biometric wallet
The D’CENT cold device has been designed with ease of use for first-time crypto users in mind. It’s easy to use thanks to the larger screen and built-in fingerprint sensor. The gadget has more buttons and more options for connecting to mobile devices than most other hardware wallets from competitors. In addition to ETH, D’CENT currently supports eighteen crypto coins and all ERC-20 tokens.
To interact with the blockchain, a mobile application is used, which is available for iOS and Android. It is easy to set up and use, which greatly simplifies the management of your crypto portfolio.
D’CENT Ethereum Card Wallet
D’CENT Ethereum Card Wallet in the form of a credit card is designed for cold storage of ETH cryptocurrency, ERC-20 and ERC-721 tokens, as well as NFT. The Ethereum Card Wallet supports synchronization with mobile applications via NFT and has a user-friendly interface.
Can be used as an authenticator for blockchain games and DApps to increase security when exchanging digital coins. The address for sending digital coins is displayed as a QR code and the use of mobile applications is not required for spending transactions.