Hardware wallets to store altcoins - too expensive?

[Svelto]

Personally, I feel that $100 for a hardware wallet is reasonable. I take this as a secure and convenient way to store my coins. Buying a $100 hardware wallet to store $50 worth of coins doesn’t seem to make sense. But I guess the $50 worth of coins will appreciate in price as time goes by.

[bit-freedom]

For me, security is the main factor to determine which hardware wallet to buy. Next come up will be the coins supported and price. So far, I have find Ledger and Trezor to be good and value for money.

[cola-jere]

I noticed that a lot of people in the crypto space are actually quite interested in hardware wallets to store their coins and tokens, but for many the price is still simply too expensive.

If there was an option to buy a hardware wallet, such as Ledger or Trezor, for a fraction of the current prices, would you personally be interested in getting one? For instance, if there was an older model that lacks some fancy features compared to the newer version of the wallet but works fine both to store and transact multiple cryptocurrencies, would this grab your attention?

A hundred dollars for a hardware wallet seems to be rather expensive. This might not be the case for people who are relatively well off in the first place, yet if you hold only about fifty dollars worth of cryptocurrencies, indeed it doesn't seem to make much sense to spend double that to secure your coins. However, in the long run, as you work on increasing the amount of coins you hold, it might be a wise investment. It would be great if manufacturers were to offer models that are a lot more affordable.

Other than price, are there other factors that are holding you back from taking the plunge to hardware devices? Is the price the main factor?

I got a hardware wallet when my crypto portfolio went 10x more than the cost of the wallet.
$100 for a Ledger holding $1,000 worth of tokens/eth is a good ratio/justification to protect your crypto.
I still store some eth & tokens in several MEW since I don't carry my Ledger everytime. Only those for long term are stored in the HW wallet.

[cryptofirm]

its depend how much the value from your crypto assets my friend
if you have more than $10K i think a hardware wallet is not expensive even its good enough to store all your assets in one wallet my friend
but if you only hold about $500 even less,, i think a hardware wallet will be too expensive for you,, 

[Malam90]

security must be the first, I think the biggest regret is when you lose your assets in large quantities.
however the decision is your choice. I think it's very easy to use a hardware wallet.

Yes, security is first and must for your wallet. Hardware wallet needs to pay but it gives more security than online free wallet. Although i use online wallet, i didn't use hardware wallet before but now i am thinking to switch from online wallet to hardware wallet.

[Bittalk12]

What is more expensive and will shake your head is when the trading platform or the wallet you are using where your funds are sitting were hack. I also don't wanted to buy a hardwallet before because it was too expensive for me but what funny is that I earned a lot on 2017 more than the price of a Trezor or Ledger. Based on my experience, the main reason why most crypto enthusiast were unable to buy hardwallet is because they are not aware or afraid how this thing works or don't have a device like laptop to connect the hardwallet.

[sorrros]

Prevention is always cheaper than cure.
Imagine if you lost only 100USD in a crypto so it would pay off.
I own Ledger Nano and I must say that it was my best decision.

[Bountyl]

I do not understand for whom they are portobny at all? I doubt that the so-called whales or large exchanges keep their cold wallet on them. I think there is a great risk that the coins will once be stolen on such purses and do not trust them at all.

[Madstayler]

A hardware wallet is very convenient. You don’t need to have wallets online that you don’t trust, you can download many blockchains to your computer. Having an investment of even $ 5,000, don’t spare $ 100 on a wallet, it’s very convenient and safe.

[bezzler]

I noticed that a lot of people in the crypto space are actually quite interested in hardware wallets to store their coins and tokens, but for many the price is still simply too expensive.

If there was an option to buy a hardware wallet, such as Ledger or Trezor, for a fraction of the current prices, would you personally be interested in getting one? For instance, if there was an older model that lacks some fancy features compared to the newer version of the wallet but works fine both to store and transact multiple cryptocurrencies, would this grab your attention?

A hundred dollars for a hardware wallet seems to be rather expensive. This might not be the case for people who are relatively well off in the first place, yet if you hold only about fifty dollars worth of cryptocurrencies, indeed it doesn't seem to make much sense to spend double that to secure your coins. However, in the long run, as you work on increasing the amount of coins you hold, it might be a wise investment. It would be great if manufacturers were to offer models that are a lot more affordable.

Other than price, are there other factors that are holding you back from taking the plunge to hardware devices? Is the price the main factor?

I think cheap or expensive is a relative things, if what we kept in the wallet is a big amount of fund and we also wishing to have maximum security, then it won't be expensive.
But if what we had is just small amount of fund then it became expensive

[giletto]

It's not too expensive compared to the amount you want to keep safe. People who use hardwave wallet are people who have huge amounts of money and they want their money to be as safe as possible, so $ 100-200 will not be a problem for them

[CryptoTech_]

there is no word too expensive if it is for the security of our own money, precisely if you lose your crypto assets because you keep it on the exchanger it will cost much more, it's okay to buy a wallet that is very expensive as long as it's safe

[ccsang]

security must be the first, I think the biggest regret is when you lose your assets in large quantities.
however the decision is your choice. I think it's very easy to use a hardware wallet.

Yes, security is first and must for your wallet. Hardware wallet needs to pay but it gives more security than online free wallet. Although i use online wallet, i didn't use hardware wallet before but now i am thinking to switch from online wallet to hardware wallet.

My advice is better direct use hardware wallet to protect your crypto assets, try to check the latest release of Ledger Nano X, it's can store up to 100 applications at the same time (nano s only allow install 4 apps), support most of the popular cryptocurrency, it's also support bluetooth connect to your smartphone with Ledger Live Mobile app and safely transact anywhere, remember security is most important parts for us to store your crypto assets.

[Dannev]

I have always a to get myself a hard wallet. The price just blew me off. I still have interest in that anyway, that is if the price is cheaper than what I was earlier told.

[moynul2050]

to my knowledge, that wallet hardware is more expensive than what you think, but in reality this is very in accordance with the security that they offer in terms of security.

[overnight03]

For me, I still use ERC20 wallet to store, my property value is not much so I do not buy hardware wallet but if your property value is high, I think you should buy hardware wallet for more security

[gensol]

I noticed that a lot of people in the crypto space are actually quite interested in hardware wallets to store their coins and tokens, but for many the price is still simply too expensive.

If there was an option to buy a hardware wallet, such as Ledger or Trezor, for a fraction of the current prices, would you personally be interested in getting one? For instance, if there was an older model that lacks some fancy features compared to the newer version of the wallet but works fine both to store and transact multiple cryptocurrencies, would this grab your attention?

A hundred dollars for a hardware wallet seems to be rather expensive. This might not be the case for people who are relatively well off in the first place, yet if you hold only about fifty dollars worth of cryptocurrencies, indeed it doesn't seem to make much sense to spend double that to secure your coins. However, in the long run, as you work on increasing the amount of coins you hold, it might be a wise investment. It would be great if manufacturers were to offer models that are a lot more affordable.

Other than price, are there other factors that are holding you back from taking the plunge to hardware devices? Is the price the main factor?

When you made mention of the cost relative to people's capital, I agree with you on it. It's just insane to spend more than you're worth just to protect it. But with time, I'm sure people will be able to afford it. If the market was still the same as it used to be, it could've been an insignificant amount.

[jvper]

You can also have an offline computer to do plenty of things, including storage of your private key.

[Elorika]

You can also have an offline computer to do plenty of things, including storage of your private key.

Well, a stand-alone computer will cost is clearly higher than ledger )
so I think it is not necessary to be greedy and it is better to spend and buy a purse , with it you will hardly be able to steal money !

[ronwewee]

I noticed that a lot of people in the crypto space are actually quite interested in hardware wallets to store their coins and tokens, but for many the price is still simply too expensive.

If there was an option to buy a hardware wallet, such as Ledger or Trezor, for a fraction of the current prices, would you personally be interested in getting one? For instance, if there was an older model that lacks some fancy features compared to the newer version of the wallet but works fine both to store and transact multiple cryptocurrencies, would this grab your attention?

A hundred dollars for a hardware wallet seems to be rather expensive. This might not be the case for people who are relatively well off in the first place, yet if you hold only about fifty dollars worth of cryptocurrencies, indeed it doesn't seem to make much sense to spend double that to secure your coins. However, in the long run, as you work on increasing the amount of coins you hold, it might be a wise investment. It would be great if manufacturers were to offer models that are a lot more affordable.

Other than price, are there other factors that are holding you back from taking the plunge to hardware devices? Is the price the main factor?

Me as a cryptocurrency holder doesn't really advice for others to keep their coins in a hardware wallet. Hardware as we know can be manipulated, and software wallet also, but the advantage is that, software wallet do not needed some cash in order to be use.