Bitcoin Multisig Hardware Wallet Comparison

[yazher]

As a newbie to the cryptocurrency industry, we wanted to learn how we can get ourselves some Bitcoin and how we will use it wisely in the future. as for me, when I finally understand the fundamentals and the basics on how to earn and what we can do to secure when we want to hold some Bitcoin or some certain Altcoin to hold, I wanted to know where should I put my crypto wealth and what kind of storage should I use. when I dig some information and finally landed on some sort of comparison, the best way to hold some BTC is in the hard wallet. therefor I search the internet and come across this site which has some Bitcoin Multisig Hardware Wallet Comparison in which hardware wallet is good to use.

In this site, the Author also made some answers to the Frequently Asked Questions by the users. there are some potential answers that you guys should also read and understand the importance of having some Hardware Wallet when you gather some Bitcoins that you want to hold.

This image will show you what's the advantages of some hardware wallet to the other hardware wallet.



As you can see there is some hardware wallet that supports thousands of Altcoins and the other only a limited number of Altcoins and the last one only support Bitcoin. At first, I thought every hardware wallet are the same until I came across this site. If I have to choose, I think Ledger Nano S is the best choice for me.

Just go to the actual site if you want to learn about the Frequently Asked Questions.

Source:

https://bitcoin-hardware-wallet.github.io/

[Lucius]

There is no doubt that a hardware wallet is a far safer choice than a desktop/mobile wallet, but only if used properly. What many people do wrong when buying a HW is a pretty irresponsible behavior when it comes to backup (seed). Some forget to make it at all, others store it inappropriately, others mix words so they virtually become worthless.

If I look at the link you posted, I immediately notice that the price for KeepKey is wrong (it is $49), and from what can be read, this is not the HW you want to have : Yes, the Keepkey is a worthless black bricklet.

As for Ledger Nano S, from the 4 offered is definitely the best choice, because of the price, reliability, and the large number of coins it supports. I'm surprised that the list does not contains Ledger Nano X, but as I mentioned, data is outdated.

The Trezor is of course always on top when talking about HW, although in my opinion there is one major drawback that casts a shadow on the whole project. Specifically in the case of a physical attack, it is very easy to extract seed from HW, and only solution is to set very strong passphrase. This also applies to KeepKey and all HW based on them (clones). Trezor&Keepkey - Unfixable Seed Extraction - A practical and reliable attack!

I will skip ColdCard, it supports BTC only and I think what it provides doesn't justify the high price.

[AOL]

I never understood why people use hardware wallet. For me nothing is as good as a paper wallet, generated offline. It is free and reliable too.

[OmegaStarScream]

I never understood why people use hardware wallet. For me nothing is as good as a paper wallet, generated offline. It is free and reliable too.

If you're trying to store a large amount for a long period of time without touching it, sure. However, if you're someone who spends his bitcoin on a regular basis, then it's not convenient.

[Febo]

I dont understand why you chose Ledger Nano S instead of Ledger Nano X. Ledger Nano X is out for more then a year.

[Lucius]

I dont understand why you chose Ledger Nano S instead of Ledger Nano X. Ledger Nano X is out for more then a year.

Maybe due to the fact that the Nano S is twice cheaper than the Nano X, and also because the OP found a page that wasn't up to date. Apart from the fact that Nano X has Bluetooth (which most don't need) and the ability to have up to 100 apps installed at the same time, the model S is still a pretty cost-effective choice.