Crypto Gadgets: Hardware Wallets From Eight Makers

For someone who already holds cryptocurrency and wants the keys in their own hands, the lowest-priced devices from the established makers are the Tangem card set at about $55, the Trezor Safe 3 at about $59 and the Ledger Nano S Plus at about $69. Of those three, the Trezor is the one with both a screen and fully published code.

This page is about the devices only. It does not say whether to buy, hold or sell any coin, and none of it is financial advice. We have not handled these wallets, so what follows is what each maker states on its own site.

What a hardware wallet does

A coin is controlled by a private key. A hardware wallet is a small device that creates that key, stores it and signs each transaction itself, so the key never sits on a phone or computer that is online. Keystone, one of the makers, puts it this way: the keys are stored offline and transactions are signed offline, which cuts the risk from malware and online attacks.

The device comes with a backup, usually 12 or 24 words called a recovery phrase or seed. Anyone who has those words has the coins. Most of the safety advice further down is about that one fact.

The makers compared

Prices are from each maker’s own store in US dollars, rounded, in order of the cheapest device. The open source column is what the maker says about itself.

Maker	Devices and maker’s price	Connects by	Open source, as the maker states	Coins
Tangem	Wallet cards: 2 for about $55, 3 for about $70. Ring with 2 cards $160	NFC, tapped on a phone	The app is. The firmware is audited, and Tangem does not say it is published	14,100+ assets on 90+ networks
Trezor	Safe 3 about $59, Safe 5 about $129, Safe 7 about $249	USB-C. The Safe 7 adds Bluetooth	Yes	Thousands of coins and tokens. Bitcoin-only versions too
Ledger	Nano S Plus about $69, Nano X about $99, Nano Gen5 about $179, Flex about $249, Stax about $399	USB-C. The Nano X adds Bluetooth. The Gen5, Flex and Stax add Bluetooth and NFC	In part	500+ in Ledger’s app, thousands through other wallets
Blockstream	Jade Core about $99, Jade Plus about $170	USB-C and Bluetooth. The Plus adds a camera for QR codes	Yes, fully	Bitcoin and Liquid only
Keystone	Keystone 3 Pro about $149	QR codes and a microSD card	Yes, hardware and software	5,500+ assets
D’CENT	Biometric Wallet about $159, on offer at $79	Bluetooth and USB-C	Not stated	10,000+ assets on 100+ blockchains
BitBox	BitBox02 about $170, BitBox02 Nova about $200	USB. The Nova adds Bluetooth for iPhone and iPad	The firmware is	Bitcoin, Litecoin, Cardano, Ethereum and 1,500+ tokens, or a Bitcoin-only edition
Coinkite	Coldcard Mk5 about $220, Coldcard Q about $320	USB-C, NFC and microSD. The Q adds a QR scanner	The firmware is	Bitcoin only

The devices, maker by maker

Trezor

All three Trezor Safe models have a certified secure chip, a PIN and what Trezor calls open-source security: public code anyone can review. The Safe 3 has a small monochrome screen and two buttons. The Safe 5 has a colour touchscreen. The Safe 7 adds Bluetooth, wireless charging and a metal body. Trezor says only the Safe 7 works fully with an iPhone. On the other two, the iPhone app is limited to checking balances and receiving.

Ledger

Ledger’s range runs from two small devices with OLED displays to three with E Ink touchscreens. The Nano S Plus connects by cable only, and Ledger says it does not work with iPhones. The Nano X adds Bluetooth. Ledger is open about its code being only partly public: its app is open source, but it says its agreement with the chip maker stops it publishing the low-level code of the secure chip.

Tangem

A Tangem wallet is a set of cards, or a ring, with no battery and no cable. You tap it on a phone to sign. The extra cards are the backup, and Tangem makes a recovery phrase optional. That is the least fuss of anything here. The cost is that Tangem shows no screen on the card itself, so each transaction is confirmed in the phone app.

Blockstream Jade

Jade is for Bitcoin and Blockstream’s Liquid network only, and Blockstream says it is fully open source. Blockstream lists air-gapped transactions for the Plus, which has a camera for QR codes. The Core connects by USB-C or Bluetooth.

Keystone 3 Pro

The Keystone 3 Pro has a 4-inch touchscreen and a fingerprint reader. Keystone says it moves data only by QR code and microSD card, and that both its hardware and software are open source.

D’CENT Biometric Wallet

The Biometric Wallet was on our 2022 list and is still sold. It has a screen, a fingerprint sensor, Bluetooth and USB-C. D’CENT’s store had it at $79, marked down from $159. Its pages say nothing on whether the code is published.

BitBox

The BitBox02 plugs in by USB and backs up to a microSD card, with written recovery words as an option. The newer Nova adds a glass screen and Bluetooth so that it works with an iPhone. Both come in a multi-coin or a Bitcoin-only edition, and BitBox says the firmware is fully open source.

Coldcard

Coldcard is Bitcoin only. The Mk5 has a numeric keypad, and the Q has a full keyboard and a QR scanner. Coldcard’s site showed the Mk5 at about $220, down from about $270, and the Q at about $320, down from about $370. Read the next section before buying one.

Security notices to read first

Two makers have notices on their own sites that a buyer or owner should know about.

Coldcard. Coinkite says that in an incident in July, a firmware bug weakened the way Coldcards generated seeds, and that attackers worked out the matching keys and stole funds. It has published fixed firmware for every supported model. Its warning to owners is blunt: updating the firmware does not repair a seed that was created on the affected firmware, so those owners must move their funds to a newly generated seed. The details, the affected versions and one exception are on Coinkite’s security status page.

Trezor Safe 7. Trezor has disclosed that researchers at Ledger’s security lab used a laser attack on one of the Safe 7’s secure chips to extract some of the secrets it protects. Trezor says this cannot give an attacker the PIN, the funds or the backup, even with the device in hand, and that owners need take no action.

A published flaw is not a reason to trust the makers that publish nothing. It is a reason to keep any device’s firmware current and to read the maker’s notices.

Staying safe

These rules come from the makers’ own security pages.

Buy from the maker or a reseller it lists. Trezor and Ledger both publish lists of authorised resellers. Ledger adds that a “Ledger Authorized Store” on a marketplace may be run by a reseller, and tells buyers to check the operator against its list. Keystone gives the same rule: the official website or an authorised reseller.
Check the packaging. Coinkite says a genuine Coldcard arrives sealed in a tamper-evident bag, and tells buyers to inspect it.
Never type the recovery phrase into a website, an app or a computer. Ledger’s wording is that you should never enter your 24 words anywhere other than directly into your device.
The maker will never ask for it. Ledger says its support will never ask for the words. BitBox says it offers no phone support and will never ask for them. Trezor’s rule is that any request for your backup, PIN, passwords or codes is always a scam.
Keep the backup offline. Keystone’s advice is to store the recovery phrase offline, never share or show it to anyone, and check every detail of a transaction before confirming it.

Ledger keeps a running list of the scams aimed at its customers on its phishing page, and it is worth a look whichever wallet you own.

Which to pick

The least money, with a screen and published code: the Trezor Safe 3.
For Bitcoin only: the Jade Core at about $99, or the Bitcoin-only edition of the BitBox02.
With an iPhone: the Ledger Nano X at about $99 is the cheapest that its maker lists as working with iOS. The BitBox02 Nova and the Trezor Safe 7 are listed for iPhones too. Skip the Ledger Nano S Plus.
Signing by QR code, with no data cable: the Keystone 3 Pro.
Nothing to charge or carry beyond a card: Tangem, if you accept signing without a screen.

We would not pay $399 for the Ledger Stax over the $249 Flex. Ledger’s own comparison gives both the same connections, the same chip rating and the same coins, so the extra $150 buys a larger curved screen and wireless charging.

What happened to the old list

The 2022 version of this page listed five gadgets. Only the D’CENT wallet is still here.

Gray Corazon: Gray’s own store shows every version as sold out, with only a pre-order programme.
OPOLO wallet: the maker’s site refused our visit, so we could not confirm it is still sold and have left it out.
Netgear Meural Canvas II and Tokenframe: these are picture frames for displaying NFTs. They do not hold keys, so they no longer belong on this page.

Quick answers

What is a cold wallet?

A wallet whose keys are kept offline, usually on a hardware device. Keystone and Tangem use “cold wallet” and “hardware wallet” for the same products.

What is the difference between a cold wallet and a hot wallet?

A hot wallet is an app or browser extension that keeps the keys on a phone or computer that is online. A cold wallet keeps them on a separate device and only signs when you approve.

How much does a crypto hardware wallet cost?

From about $55 to about $400 on the makers’ own stores. Most of the well-known models are between $59 and $250.

Can I buy a hardware wallet on Amazon?

Only from a store the maker itself lists. Trezor names its official Amazon stores for several countries on its reseller page, and Ledger tells buyers to check a marketplace seller against its own list.

What are the risks of a hardware wallet?

Losing the recovery phrase, giving it to a scammer, buying a tampered device, and flaws in the device itself. The first three are in your hands.

Prices move, so confirm on the maker’s store before you pay.