Top 5 Bitcoin Only Hardware Wallets Reviewed for 2022

by James · December 12, 2022

Holding bitcoin may be easy, but finding the right hardware wallet to store your coins can be difficult. Online and mobile wallets are usually preferred, but carry a risk factor of your coins being stolen through cyber-hacks or phishing scams. Therefore, hardware wallets are the safest option when it comes to storing bitcoin.

In this guide, we will explain how hardware wallets work and list some of the most popular bitcoin-only hardware wallets on the market.

Table of Contents

What is a hardware wallet?

A hardware wallet is an encrypted portable device used to store your cryptocurrency in cold storage. However, it is not your coins that are stored directly on the device, but the private keys that give you access to the coins that remain on the blockchain. Through a hardware wallet, you can easily manage your private keys and take self-storage of your assets.

Hardware wallets are effective at securing your cryptographics by providing you with an extra layer of security against hacking, phishing sites, and malware. A hardware wallet, which often comes in the form of a USB device, allows you to access your crypto from anywhere. You can connect a hardware wallet to your computer and manage it through its proprietary software to interact with decentralized applications, as well as send and receive cryptocurrency.

Also, hardware wallets can support multiple digital assets simultaneously. For convenience, different cryptoassets can be backed up by a single recovery phrase. The recovery phrase can be used to access your cryptocurrency if your device containing your private keys is destroyed or stolen. Therefore, it is important to keep a copy of the recovery phrase and store it safely.

Why you should (probably) use a hardware wallet

The biggest advantage of using a hardware wallet as opposed to a software wallet is that your entire bitcoin holdings remain offline. Remember that most thefts and frauds involving crypto assets occur because online and mobile wallets are directly or indirectly connected to the internet by default.

When using a hardware wallet, the likelihood of being hacked is greatly reduced since it is a separate device where cryptocurrency transactions are manually and physically signed on the device itself. Only the cryptographically signed transaction hits the internet.

Hardware wallets also often have additional security features like two-factor authentication, a lock PIN, biometric security, and more. Also, the wallet device usually has a screen that allows you to enter your PIN as well as verify your address when shopping.

How to use a Bitcoin Hardware Wallet

Using a Bitcoin hardware wallet is not that complicated, although they differ from one manufacturer to another.

The obvious first step would be to set up your hardware wallet. To do so, you need to purchase a hardware wallet from your device manufacturer. You should shop for the device directly on the manufacturer’s website. Only then can you make sure that you are not buying a tampered version of a hardware wallet. You can also order a bitcoin hardware wallet from a trusted e-commerce platform such as Amazon, although this opens up a degree of counterparty risk as the wallet can potentially be manipulated.
Once you get the physical device, you proceed to install the custom software that will help you set up the wallet. You can do this by connecting the USB device to the computer. When the hardware wallet application is running on your PC, several messages will be given for you to follow.
Start the setup process and follow the instructions to the conclusion. At some point you will need to enter a PIN or receive one. Make sure you write down your PIN securely so you don’t forget it. Also remember to write down the recovery phrase and store it offline in a secure location or locations. The recovery phrase backup will ensure that you will always be able to recover your assets.
The application will then proceed to create the wallet address that you can use to send and receive bitcoin. To transfer your bitcoin to the hardware wallet, copy the wallet address from the app’s interface and paste it into the send tab of the sender wallet. Start the transaction, after which you will see the transaction details appear on your hardware wallet.
You can then check the screen of your device connected to the PC to confirm that the transaction details are correct and that you are sending your bitcoin (BTC) to the correct recipient wallet. Only if everything is correct, press the button on the hardware wallet to complete the transaction.

For this example, we’ll assume you’re using a USB stick-like hardware wallet that comes with a display. However, hardware wallets come in all shapes and sizes, so the setup process can vary quite significantly, and some hardware wallets don’t really require any setup at all.

Popular bitcoin-only hardware wallets

Now let’s take a look at some of the most popular Bitcoin hardware wallets on the market.

Bitbox02

BitBox02 is a Swiss-made hardware wallet that offers a special bitcoin-only edition to its users. The hardware wallet is a product of Shift Crypto AG, a Zurich-based private company responsible for all BitBox products. BitBox02’s bitcoin-only hardware wallet is only compatible with BTC.

The hardware wallet has an elegant minimalist design with built-in touch sensors around the edges. The device is approximately 54.5 x 25.4 x 9.6 mm in size, including a USB-C plug. It weighs 12 grams and is made of polycarbonate. The BitBox02 bitcoin-only edition is compatible with Windows 7+, macOS 10.13+, Android and Linux.

BitBox02 provides state-of-the-art security features, including a dual-chip design to add an extra layer of security to your bitcoin. The source code is open source and has been fully audited by security experts for vulnerabilities. You can also connect to any Electrum server using BitBoxApp. Also, BitBox02 supports Electrum, HWI, JavaScript, Python and more.

Features:

USB connection
Mobile support for Android devices
Easy backup and restore with a MicroSD card
Amazon Price – $149
Memory storage – 16 GB

Blockstream Jade

Blockstream Jade is an easy-to-navigate hardware wallet used to secure bitcoin and liquid assets. The wallet is a product of Blockstream, which is a leading provider of Bitcoin technology.

Blockstream Jade hardware wallet has dimensions of 60mm x 24mm x 17mm. The hardware unit has a full color 240×135 pixel 16-bit display. You can use it to display QR codes on your device as well as send and receive transactions by verifying addresses and transaction details on the screen. The device also has an application button with a click wheel and a battery capacity of 24 mAh.

As with any other hardware wallet, Blockstream Jade stores the keys to bitcoin and liquid assets offline. You can improve your security by using Blockstream’s Green Multisig Shield technology. You can also access full-node verification and Tor support. The Blockstream Jade wallet supports Windows, Android, Linux and macOS through Blockstream Green’s platform.

Features:

USB and Bluetooth connectivity
Mobile support for Android
Amazon Price – $49
Memory storage – 4 MB

Card wallet

Card wallet gives you an easy way to safely store your bitcoin offline using a tamper-proof card. Card Wallet is developed by Coinfinity and the Austrian printing company, where the former supplies the technology and the latter is responsible for production.

Card Wallet uses high quality security materials and enhanced features to prevent any form of card manipulation by bad actors. The private key is sealed in a tamper-proof manner on the back of the card wallet before the card leaves the production machine without staff ever seeing the keys.

The card wallet’s dimensions are similar to a standard debit card at 85mm x 54mm. The card is made of polycarbonate, has a laser-imprinted private key, and has a bitcoin address etched into it. You can order a Card Wallet Bitcoin for only €39.90. Please note that this does not include shipping costs.

Features:

Very easy to use
Price – €39.90

Coldcard

Coldcard is a bitcoin-only hardware wallet that allows you to avoid being connected to a PC for the entire lifecycle, from seed phrase generation to transaction signing. The hardware wallet is developed by Coinkite, a leading security and hardware manufacturer based in Toronto.

Coldcard has a numeric keypad that makes entering your PIN code easier. You can see your transaction details on its bright, 128×64 pixel OLED display. The wallet has a seed plate with dimensions of 12.7×7.62 for easy storage and concealment. To further secure your bitcoin, Coldcard stores your private keys in dedicated security chips and not on the microSD.

Since Coldcard devices are based on BIP174, interoperability between wallets is possible. Coldcard uses dual microchips to store the 24-word seed phrase for your BIP39 wallet. The Coldcard wallet has a forced PIN feature that generates a second private key in difficult situations and keeps your master private key safe.

Features:

USB connection
Easy backup through a MicroSD slot
Price – $147.94
Unlimited memory storage

OpenDime

OpenDime is a bitcoin-only hardware wallet that acts as a read-only USB flash drive. OpenDime is a product of Coinkite, the same company behind the Coldcard wallet. OpenDime works with any PC, laptop or mobile device.

OpenDime secures your bitcoin by generating the private key on your device that no one can access, not even you. OpenDime uses bitcoin message signing, standard bitcoin payment addresses, and private keys in WIF format. Each OpenDime wallet has a single private key and does not reveal the key until it is “unsealed”.

Features:

USB connection
Mobile connection to Android and iOS
Price – $69 per pack

Hardware wallets are your best option for safe long-term storage of your bitcoin holdings. Which type of hardware wallet is right for you and your level of technical expertise is up to you. So you should probably test a few to find the one that suits you best.