28 Jul

Introduction to Hardware Wallets

In the ever-evolving world of cryptocurrency, securing your crypto with robust storage solutions is becoming increasingly critical. Whether you're a seasoned investor or a newcomer to the cryptocurrency space, understanding and selecting the best storage method for your needs is paramount. 

Amongst the various storage options, hardware wallets, also known as cold wallets, stand out. These physical devices provide offline storage for your private keys, forming a powerful shield against online threats. Unlike hot wallets, which are continuously connected to the internet, hardware wallets are not, significantly reducing their vulnerability to cyber-attacks.

The increased security offered by these offline devices make them ideal for long-term storage of cryptocurrencies, ensuring your crypto is safely tucked away from potential online dangers. This unique advantage of hardware wallets doesn't necessarily come with a hefty price tag. There are affordable, yet efficient cold wallets available for under $100, offering the perfect blend of cost-effectiveness and security.

In this article, we'll explore some of the best hardware wallets within this budget-friendly range, unravelling their features and benefits to help you make an informed choice for securing your crypto assets.

The Importance of Owning Your Keys: Understanding Crypto Ownership

The world of cryptocurrencies often revolves around the mantra, "Not your keys, not your crypto". This phrase underscores the crucial importance of private keys in the realm of cryptocurrency. Much like a unique code to a secure bank vault, your private keys grant access and control over your cryptocurrencies. 

Entrusting these keys to a cryptocurrency exchange may seem like a convenient solution, but it involves substantial risk. Doing so is equivalent to ceding control of your crypto to third parties, which contradicts the principles of decentralisation and self-sovereignty that underpin cryptocurrencies.

Owning your keys involves embracing the full spectrum of responsibilities that come with managing cryptocurrency. It means prioritising security and being prepared to safeguard your keys against potential threats. However, the peace of mind and financial control it provides align with the spirit of independence that cryptocurrencies were built upon. It is a small but significant step towards genuine decentralisation and secure crypto ownership.

The Pros and Cons of Cold Wallets

The increasing popularity of cryptocurrencies has led to the rise of various storage options, among which cold wallets, also known as hardware wallets, have emerged as a preferred choice. These physical devices offer a higher level of security as they store private keys offline, shielding your cryptocurrency from a myriad of online threats like hacking, phishing, and malware. 

Being offline reduces their exposure to vulnerabilities associated with internet connectivity. This feature makes them ideal for long-term storage, especially for substantial amounts of crypto assets. Cold wallets are designed to keep your cryptocurrencies safe until you decide to use them, providing peace of mind in an otherwise volatile crypto landscape.

However, cold wallets are not without their drawbacks. Regular traders who frequently move assets between their wallets and exchanges might find cold wallets slightly inconvenient. This is because every transaction requires connecting the device to a computer, which can be time-consuming compared to online or mobile wallet solutions.

Furthermore, the loss or damage of the hardware wallet, or forgetting the recovery phrase, can lead to an irreversible loss of the stored assets. It is essential to keep the device and the recovery phrase in a secure location, ideally in multiple, secure, and geographically dispersed locations to mitigate these risks.

In conclusion, while cold wallets offer robust security advantages, their usability and safekeeping requirements necessitate careful consideration. Understanding these pros and cons will aid users in making an informed decision about whether cold wallets suit their crypto management needs. 

Overview of Top Cold Wallets Under $100

With the increase in popularity of cryptocurrencies, the demand for secure and affordable cold wallets has also seen a significant rise. Cold wallets, or hardware wallets, provide a secure environment to store cryptocurrencies, isolated from online threats. They enable users to maintain control over their keys, a fundamental aspect of cryptocurrency ownership. Several hardware wallets available in the market offer a robust security solution while remaining under the £100 price range. This section provides an in-depth review of some of the top cold wallets that combine affordability with superior security and functionality. 

  • ELLIPAL Titan Mini ($79.00)  

Ellipal Titan Mini Cold Wallet

ELLIPAL Titan Mini Cold Wallet is the most portable, easy-to-use, and secure hardware wallet. With its air-gapped and fully metal seal design, it is created to keep your cryptocurrency secure from both online and offline threats. Air-gapped is the ultimate protection for your cryptocurrency against online hackers. Air-gapped means that the ELLIPAL Titan Mini cannot connect to any networks or devices. No port or hardware allows it to connect to USB, Bluetooth, WiFi, 4G, NFC, and more. Without any connection, any online attacks are futile. Furthermore, no malware can be installed due to no input ports available.

  • SafePal S1 ($49.99) 

SafePal S1 - Your Best Guardian of Crypto Assets

The SafePal S1 has made a substantial impact on the hardware wallet market, providing a perfect blend of security and portability. Endorsed by Binance, a well-respected name in the crypto industry, the SafePal S1 supports a broad spectrum of over 10,000 cryptocurrencies. This mobile-oriented wallet employs an EAL5+ Secure Element to deliver top-notch security, making it a compelling choice for safeguarding your cryptocurrency. Compact and lightweight, the SafePal S1 is designed for ease of carry, appealing to both tech-savvy users desiring advanced features and beginners looking for a simple, intuitive interface. 

  • Trezor Model One ($69.00) 

Trezor Hardware Wallet - The original and most secure hardware wallet. Discover the secure vault for your digital assets. Store bitcoins, litecoins, passwords, logins, and keys without worries

Trezor Model One, an established name in the cold wallet segment, effectively balances user-friendliness and security. Its support for Bitcoin, Ethereum, and an array of altcoins ensures broad applicability across different crypto user demographics. The Trezor interface is renowned for its simplicity and ease of use, appealing to beginners and experienced users alike. Moreover, its stringent security features allow you to store your assets with confidence. Despite its affordability, the Trezor Model One does not compromise on offering a secure environment for your crypto.

  • OneKey Mini ($58.00)

OneKey - Open source crypto hardware wallet for DeFi and NFTs

The OneKey Mini provides a strong proposition in the budget hardware wallet category. Its support for a wide range of cryptocurrencies and availability of mobile and desktop interfaces cater to diverse user preferences. The OneKey Mini emphasises user experience, offering an intuitive interface and simple setup process, making it particularly appealing for novices in the crypto world. For those seeking an affordable yet robust hardware wallet solution, the OneKey Mini is a viable contender. 

OneKey Crypto Hardware Wallet. The best way to keep crypto assets safe in the industry. Your bitcoin, ethereum, solana, and other crypto assets can all be safe and secure.
  • OneKey Classic ($89.00)

OneKey - Open source crypto hardware wallet for DeFi and NFTs

By far the most classic hardware wallet, the one that has it all. You can use it even on the go. OneKey Classic has a high-performance Bluetooth module and a slim battery, so you can connect it to your phone to check or manage your cryptos whenever and wherever you want. Extremely secure. Travel around all blockchains with one wallet. All- platform supported. No matter which platform you prefer, iOS, Android, macOS, Windows, Linux or even ChromeOS, we support them all.

  • CoolWallet S ($99.00) 

CoolWallet - The best crypto hardware wallet for Bitcoin. CoolWallet is the most secure crypto hardware wallet for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and ERC20 Token.

The CoolWallet S is a distinctive offering in the hardware wallet market, merging innovation and portability with its credit card-like design. This slim and lightweight wallet connects to your smartphone via Bluetooth, ensuring you can manage your assets on the move with ease. Despite its compact form factor, the CoolWallet S doesn't compromise on security, employing robust measures to protect your cryptocurrency. Supporting a diverse range of cryptocurrencies, the CoolWallet S presents a uniquely convenient and secure wallet solution at a budget-friendly price point. 

  • imKey Pro ($99.99)

Imkey Pro Hardware Wallet

The imKey Pro hardware wallet is a especially developed for users of blockchain digital assets, equipped with built-in CC EAL 6+ security chip, Bluetooth wireless connection, exclusive support from imToken App, support four major public blockchains, including BTC, ETH, EOS and Cosmos.

imKey mainly offers hardware wallet and mnemonic back solution to protect your assets. imKey hardware wallet generates and stores private keys offline, Heir Box P1 is a stainless steel backup tool for offline storage of mnemonics, they are the best combination to secure digital assets.  

  • Blockstream Jade ($64.99)

Blockstream Jade Hardware Wallet

Jade Blockstream Hardware Wallet. Fully open-source for both hardware and software, Blockstream Jade secures your keys offline in combination with Blockstream Green. This hardware wallet supports both Bitcoin and its leading sidechain, the Liquid Network. Out of the box, Blockstream Jade enables you to send and receive Bitcoin and all Liquid assets issued on the Liquid Network. This includes L-BTC, major assets such as Tether (USDt), L-CAD, and JPYS (which Ledger already supports on the Nano S), and any tokens issued by other Liquid users. Blockstream Jade is currently supported on Blockstream Green for Android, Windows, macOS, and Linux.

  • Ledger Nano S Plus ($79.00) 

Ledger Nano S - Secure your crypto. Make sure your crypto assets are safe anywhere you go with the most advanced hardware wallet yet. The Ledger Nano X is a bluetooth enabled secure device that stores your private keys and offers an easy-to-use experience for crypto owners

Among the top cold wallets, the Ledger Nano S has earned its reputation through its high-grade security features and user-friendly design. Although it supports fewer cryptocurrencies than its newer sibling, the Ledger Nano X, it still offers a comprehensive range of features at a lower price point. Renowned for its commitment to user security, the Ledger Nano S provides an excellent solution for those seeking to store their crypto securely without breaking the bank. This wallet's consistent performance and reliability make it an ideal choice for new and experienced users alike. 

Securing Your Wallet: Security Measures to Consider

While hardware wallets already provide a heightened level of security compared to online wallets, safeguarding these devices and their data is of utmost importance. They are the guardians of your cryptocurrencies, and implementing additional security measures can go a long way towards ensuring your peace of mind. 

Firstly, it's crucial to protect your recovery phrase - this sequence of words allows access to your cryptocurrencies. Losing this phrase can mean losing access to your crypto, while letting it fall into the wrong hands can lead to theft. It's recommended to write down your recovery phrase and store it in a secure, offline location.

Secondly, safe storage of your hardware wallet is vital. Despite being offline, if physically stolen, the device can be at risk. Keep your hardware wallet in a safe place, preferably locked away when not in use.

Thirdly, many hardware wallets offer PIN encryption. This feature adds an extra layer of security by requiring a PIN to access the device. It ensures that even if your device is stolen, the thief would need to know your PIN to access your assets.

Finally, consider wallets that offer a hidden wallet feature. This feature allows you to create wallets that are invisible to others. If you're ever in a situation where you must reveal your PIN, you can show them a decoy wallet, while your primary assets remain safe in your hidden wallet. These measures bolster the security that hardware wallets already provide, ensuring that your cryptocurrencies remain secure.

CoolWallet - The best crypto hardware wallet for Bitcoin. CoolWallet is the most secure crypto hardware wallet for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and ERC20 Token.

Final Thoughts: Choosing the Right Wallet for Your Needs

The selection of a wallet for your cryptocurrency assets is a crucial decision that hinges on your unique needs and intended use of your cryptocurrencies. For those who prioritise maximum security and are looking towards long-term storage of their crypto, hardware wallets stand out as an exceptional choice. They offer a layer of protection that is hard to rival, especially when coupled with the right security measures.

While hardware wallets do carry a cost, the peace of mind they bring by safeguarding your assets from numerous online threats justifies the investment. The notion that you must spend a lot to secure your assets is also dispelled by the range of budget-friendly hardware wallets available in the market today. Each of these wallets, while reasonably priced, doesn't compromise on the critical aspect of security.

As we navigate through the exciting yet unpredictable realm of cryptocurrencies, the one element we can exercise control over is the security of our assets. And that's precisely what hardware wallets help us achieve. They allow us to protect our cryptocurrency, giving us the confidence to explore the crypto landscape. Investing in a hardware wallet is, therefore, a strategic move that proves its worth in every sense.

SafePal S1 - Your Best Guardian of Crypto Assets


Learn more about the best TOP 30 hardware cryptocurrency wallets

You can see this list here.

TOP 29 Hardware Wallets, the Official Online Stores

Trezor hardware wallet, the official online store
Ledger hardware wallet, the official online store
KeepKey hardware wallet, the  official online store
BitBox02 hardware wallet, the official online store
CoolWallet hardware wallet, the official online store
ELLIPAL hardware wallet, the official online store
D'CENT hardware wallet, the official online store.
SafePal hardware wallet, the official online store
SecuX hardware wallet, the official online store
BC Vault hardware wallet, the official online store
BitLox hardware wallet, the official online store

Keystone hardware wallet, the official online store

ProKey hardware wallet, the official online store
NGRAVE hardware wallet, the official online store
Keevo hardware wallet, the official online store
GridPlus hardware wallet, the official online store
Ballet hardware wallet, the official online store
OPOLO hardware wallet, the official online store
Foundation (Passport) hardware wallet, the official online store
ImKey hardware wallet, the official online store
Tangem hardware wallet, the official online store
HashWallet hardware wallet, the official online store
Material Bitcoin hardware wallet, the official online store
ShieldFolio hardware wallet, the official online store
OneKey hardware wallet, the official online store
Blockstream Jade hardware wallet, the official online store
Cypherock hardware wallet, the official online store
Keepser hardware wallet, the official online store
NEXA hardware wallet, the official online store
ELLIPAL Titan is the best cold wallet

TOP 20 Best Metal Cold Storage Seed Phrase Backups, the Official Online Stores

Coinplate metal seed phrase backup