Trezor Hardware Wallet Review

PROS
  • Screen offers extra protection and verification
  • Affordable hardware wallet with screen
CONS
  • $99 price tag may be out of reach for those on a budget

TREZOR is a Bitcoin hardware wallet and launched in August 2014. It as the first Bitcoin hardware wallet, offering secure cold storage plus the ability to spend with the convenience of a hot wallet.

TREZOR is a small, key-sized device which connects to your computer with a USB cable. It stores your Bitcoin private keys offline and signs transactions. It can be safely used on a malware infected computer.

Price

Costs $99 for one, or $276 for three. You can buy with bitcoin from TREZOR’s website. To buy with a credit card or bank account you’ll have to buy from Amazon.

Security

TREZOR provides top-notch security for bitcoin, protecting against both physical and virtual theft.

TREZOR is an HD wallet where you control the private keys, so an entire wallet can be backed up with the 24 words generated on setup. The original 24-word seed is generated using RNG from the device and the computer. The seed is generated offline and displayed on the TREZOR’s screen, which ensures that the seed is never on an internet-connected device.

A PIN code is required on setup, and required for spending. After each incorrect guess the wait between guesses is raised by a power of two. Making 30 guesses would take 17 years.

You can add a passphrase to the 24-word seed for extra security, which acts as a 25th word. You must remember the passphrase because the seed without the passphrase is not enough to recover the wallet. A passphrase offers more security, but if forgotten the wallet cannot be recovered.

You can recover the entire wallet with the 24-word seed and passphrase if used, in the event that your TREZOR is lost or damaged. Recovery can be done with another TREZOR or with other wallets, like Electrum or Mycelium.

TREZOR’s screen allows you to confirm that you’re sending to the intended recipient, but this does not prevent against phishing attacks.

A full overview of how TREZOR handles security threats can be found on the Satoshi Labs website.

trezorconfirm

TREZOR’s buttons (as shown above) also make sure that a hacker couldn’t automatically send a transaction from your device. The button must be physically pressed in order to confirm each outgoing transaction.

Setup and Initialization

There are three ways to setup your TREZOR: via myTREZOR.com, the Chrome extension, and via the command line. Setup involves setting the PIN code, device name and password.

myTREZOR.com is TREZOR’s web wallet, while the Chrome extension is an app installed to your browser. The setup process on both is the same. The one difference is that setup in myTREZOR.com is online, while the Chrome extension can be used offline. If you care about your privacy, use the Chrome extension and setup offline.

Privacy

TREZOR itself offers very good privacy. Satoshi Labs has no way of tracking your actions after you receive the device because it has no serial number. All of the software is open source. No usernames or passwords are needed when using TREZOR.

Privacy is determined by the wallet used with TREZOR: Electrum, MultiBit HD, and GreenAddress on desktop, GreenBits and Mycelium on Android, and myTREZOR.com on the web.

Data can be leaked upon setup if using TREZOR’s myWallet. For a more private initialization, use the Chrome extension or the python tools to setup your device on an offline computer.

Software Wallets

Trezor is compatible with a number of wallets, including Electrum, MultiBit HD, and GreenAddress on desktop, GreenBits and Mycelium on Android, and myTREZOR.com on the web. Use the TREZOR Chrome extension to manage your device.

TREZOR vs. Ledger Nano S

TREZOR and the Ledger Nano S are often compared.

The main difference is that TREZOR is more like a mini computer, while the Ledger Nano S uses a secure chip.

TREZOR vs. KeepKey

KeepKey is actually a port of the TREZOR’s code and firmware.

Until recently, the main difference was that KeepKey offers a digital screen and the ability to recover the seed without worrying about keyloggers. But, recently TREZOR added the ability to do a secure recovery.

So now the main difference in the KeepKey vs TREZOR showdown is that the TREZOR is made from plastic, while the KeepKey is aluminum.

The KeepKey feels more like a premium device, although the TREZOR is probably more secure against drops since it’s much lighter.

TREZOR vs. Paper Wallet

TREZOR may be better than a paper wallet for less technical users. Paper wallets can be hard to setup and it’s easy to make mistakes. TREZOR makes creating secure offline storage easy. Although paper wallets are just as secure if created correctly.

Promo Code

There are currently no TREZOR promo codes available. If a coupon or discount code becomes available, we’ll update this post.

Does TREZOR Work with Litecoin?

TREZOR can be used to store Litecoin, DASH, and other altcoins. It’s up to software wallet developers to integrate support–the device itself is compatible with any altcoin.

This marks the end of our TREZOR review. The next few sections show you how to use and restore TREZOr with Electrum and Mycelium.

 Buy a TREZOR

KeepKey Hardware Wallet Review

PROS
  • Most secure & feature packed Bitcoin hardware wallet available
  • Digital screen & metal body
CONS
  • $99 price may be out of range for some buyers
  • New wallet, needs to gain more trust

transactionhand

KeepKey is a secure Bitcoin hardware wallet that was launched in 2015. Like the TREZOR and Ledger Nano S, it is easy to setup but also has some more advanced features, making it a great choice for new and experienced Bitcoin users alike!

Price

Costs $99 and can be purchased on Amazon. High price tag is due to its digital screen, metal body, and high level of security.

Make sure you NEVER buy a KeepKey or any other hardware wallet from eBay.

Only buy from KeepKey’s website store or from Amazon.

1444560566_bitcoin-hardware-wallet-keepkey

Security

The purpose of a hardware wallet is to store private keys offline in a secure envoriment. KeepKey provides top-notch security and protects against both physical & virtual theft. It can be used on any computer, even one that’s been infected with malware or targeted by hackers. Think of it as a tiny computer that’s built specifically to store Bitcoin private keys.

In addition to offline storage, KeepKey’s pin code and number randomization makes sure that 1) your wallet is secure from physical theft and 2) that a hacker couldn’t steal bitcoins from your wallet with malware.

KeepKey is an HD wallet, meaning your entire wallet can be backed up with the 12 words generated on setup. 12 words is the default setting, although KeepKey supports seed lengths of 18 and 24.

The seed is generated using entropy from both the device itself and the computer used for setup. The seed is generated offline on the KeepKey and displayed on the device’s screen. The device’s offline screen makes sure the seed is never displayed on an internet-connected device.

You can recover your wallet using the backup seed if your device is lost, stolen, or damaged. Recovery can be done with KK’s Chrome extension. Make sure to keep multiple backups of your seed and follow other best practices.

The wallet’s screen helps confirm you’re sending to the intended recipient, but does not prevent phishing attacks.

Setup and Initialization

Watch the video above or read our in-depth guide to learn how to initialize a KeepKey. The process is very simple and only takes a few minutes.

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Privacy

As with any hardware wallet, using your device is only as private as the software wallet it’s used with. Electrum, KeepKey Chrome, and MultiBit HD support KeepKey. Electrum is the most private of the three.

KeepKey vs. TREZOR

KeepKey is actually a port of the TREZOR’s code and firmware.

There is no huge difference besides that TREZOR has been around much longer. The design of the two devices also differ. KeepKey has a more premium feel, is aluminum, and heavier. TREZOR is plastic and lighter. TREZOR is very light and may be more drop-proof than KeepKey.

KeepKey vs. Paper Wallet

KeepKey may be better than a paper wallet for less technical users. Paper wallets can be hard to setup and it’s easy to make mistakes. With KK it’s easier to create secure offline storage. Paper wallets are just as secure if created correctly, though.

Does KeepKey Work with Ethereum?

KeepKey can be used to store Ethereum, Litecoin, DASH, and other altcoins. It’s up to software wallet developers to integrate support–the device itself is compatible with any altcoin.

 

To Buy Keepkey now, visit Amazon.com or Keepkey.com

Ledger HW.1 Review

PROS
  • At 15€ (~$17), the Ledger HW.1 is a good option for users on a budger
CONS
  • No screen means the HW.1 must be setup on bootable USB or offline computer in order to setup securely

ledger-hw1-card-large

Price

The Ledger HW.1 costs 15€ and comes with free shipping.

Here is the HW.1 compared to the other three popular hardware wallets:

 

Security

The Ledger HW.1 is an HD Bitcoin USB wallet, meaning the 24 word seed generated on setup is all that’s needed to backup the entire wallet. The original 24-word seed is generated using RNG from the device and the computer. This spreads out the source of entropy.

The HD seed is then generated offline on the HW.1’s smartcard and displayed on your computer’s screen. This is the main problem with the Ledger HW.1: it doesn’t have a screen. Since the seed is displayed on your computer’s screen, setup your HW.1 on an offline computer or bootable operating system. Ledger offers a USB drive called Ledger Starter which you can use to setup your HW.1 securely.

A 4-digit pin code is added on setup. The pin code is required to view balances when plugged into any computer and for each transaction. Three incorrect guesses of the pin code will wipe the device.

The Ledger HW.1 comes with a security card that provides extra two factor authentication and prevents man in the middle attacks. The HW.1 uses the security card as 2-factor authentication because it lacks a screen.

Each time you need to send a payment you will be asked to input some of the letters or numbers from the recipient address using the security card.

ledgercard

Using the example security card shown above, b equals 9 while x is 1. Each security card is unique and provides two-factor authentication in the case that your HW.1 is stolen. If someone has your HW.1 and your pin code, but not the securty card, they won’t be able to send your funds.

The HW.1 uses an CC EAL5+ smartcard to securely sign Bitcoin transactions.

Setup and Initialization

To setup your HW1 you will need to use the Ledger Wallet Chrome extension or the Ledger Starter. Using the Ledger Starter is more secure because it creates your seed in a secure enviroment.
schema-ledger-hw1

Privacy

As with any hardware wallet, using your device is only as private as the software wallet it’s used with. Many software wallets have support for the HW.1: Electrum, Mycelium, Copay, GreenBits, GreenAddress, Coinkite, and the Ledger Chrome wallet. Electrum, Mycelium and Coinkite support Tor and can offer additional privacy. Copay can be used with a Bitcore full node which is also a very private way to use your HW.1.

Ledger Mobile Apps

Unlike the TREZOR or KeepKey, the HW.1 doesn’t have a screen that can be used to verify outgoing transactions. Instead, Ledger’s iPhone app or Android app can be used a screen to confirm payments. This isn’t ideal, as the mobile apps will in most cases run on internet-connected devices. It is, however, a decent solution for a hardware wallet with no screen.

HW.1 vs. TREZOR

TREZOR and the Ledger HW.1 are often compared. The main difference is TREZOR offers a screen, the ability to add a passphrase to the HD seed, and offline setup by default. The Ledger HW.1 wins in terms of price but offers less features and arguably less security.

HW.1 vs. KeepKey

The main difference between the Ledger HW.1 and KeepKey is that KeepKey has a screen, while the Ledger HW.1 does not.

HW.1 vs. Paper Wallet

The Ledger HW.1 may be better than a paper wallet for less technical users. Paper wallets can be hard to setup and it’s easy to make mistakes. The HW.1 makes creating secure offline storage easy. Although paper wallets are just as secure if created correctly.

 

Does the HW.1 Work with Litecoin?

The HW.1 can be used to store Litecoin, DASH, and other altcoins. It’s up to software wallet developers to integrate support–the device itself is compatible with any altcoin.

Visit www.ledgerwallet.com for more information.

Visit www.hardwarewallet.com to Buy.

 

Ledger Nano S Review

A Cryptocurrency hardware wallet.
Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments
ledger-nano-s-cable-large

Here are a few things I like about Nano S

  • The Nano S is currently the cheapest hardware wallet with a screen
  • The Nano S is easy to setup and use on any desktop computer

and don’t like about the Nano S:

  • No passphrase support

Background

The Ledger Nano S is different than Ledger’s other two hardware wallets—the Ledger Nano and Ledger HW.1—because it has a screen. The Nano S’s screen means, like other hardware wallets (like KeepKey or TREZOR), it can be used even on a computer that is infected with malware.

Here’s a picture of the Nano S just so you can see how it looks:

What’s in the Box

ledger-nano-s-pack-large

The Ledger Nano comes nicely packaged and includes the following items:

  • Ledger Nano S
  • 1 micro-USB cable
  • Lanyard for wearing device around neck
  • One key chain and key ring
  • Recovery sheet for writing down seed\

Physical Buttons

Like the TREZOR, the S also has two physical buttons which add to its security.

In order to confirm a payment, you need to physically press both buttons at the same time. This makes it so no hacker could hack into your device and confirm a payment.

PIN Code

The Ledger Nano S also requires the user to create a PIN code on setup. The PIN code helps prevent the loss of bitcoins in case your lose your device. A stranger would not be able to send bitcoins from your Nano S because he/she would not know your 4 digit pin code. After three incorrect guesses of the pin code the device wipes itself.

ledger-nano-s-pin-code-1

Offline Storage

Let’s get back to the main purpose of a hardware wallet.

It stores your keys in its offline, secure environment.

Bitcoins and private keys stored on an online computer are easytarget for hackers.

When you use a hardware wallet, which stores your bitcoins offline, then your coins are stored offline and out of reach from hackers.

Anti-Tampering Seal

The box ships with tamper-proof tape around the packaging. If this tape appears to be altered in any way, it is likely someone tampered with your device before it arrived to you.

Be sure to email level to return it and request a new device!

ledger-nano-s-2

Passphrase Support

This is the feature I’m DYING for Ledger to add!

One feature that the Nano S lacks is passphrase support.

Put simply:

Passphrase support lets you add custom text onto your 24 word recovery phrase.

As we mentioned early, if anyone gets access to your recovery phrase they also have access to your bitcoins.

A passphrase prevents this because in addition to the 24 word recovery phrase, a thief would need the seed plus the passphrase used to create the wallet, which is memorized by the wallet’s creator.

The Nano S also does not run on a battery, meaning when it is not plugged in it is completely offline and turned off.

Why is the Nano S’s screen Important?

The S’s screen helps with a few things:

When you setup your Nano S, the wallet generates a recovery phrase. The recovery phrase is a complete backup of your wallet.

On a normal Bitcoin wallet, like an iPhone wallet, the recovery phrase is displayed on your phone’s screen.

In most cases your phone is probably secure enough.

pin-2

However:

Since your phone is connected to the internet, it’s very possible that someone could hack into your phone to 1) steal your bitcoins or 2) snatch your recovery phrase.

When you use a hardware wallet like the Nano S, the recovery phrase is generated offline and displayed on the Nano S’s screen, which ensures that the recovery phrase is never on an internet-connected device.

How else does the screen help protect you?

The screen provides an extra layer of verificaiton when sending payments.

The screen makes it easy to confirm that the payment you’d like to send is for the correct amount and to the right address.

The Nano S’s screen means, like a KeepKey or TREZOR, it can be used even on a computer that is infected with malware.

Setup Guide

Setting up the Ledger Nano S is actually quite easy.

First, plug it into your computer to turn it on. You’ll need a micro-USB cable.

You’ll be asked to create a four-digit pin code using the device’s screen. You can slide the numbers higher or lower using the buttons.

Once you reach the desired number, press both buttons at the same time to select the next number. You’ll then have to repeat this process to confirm your pin code.

After you’ve set a PIN code, you’ll be asked to write down the Ledger’s 24-word recovery phrase. Words will show up one at a time, just click the right button to see the next word.

Ledger provides a piece of paper you can use to write down your phrase:

ledger-wallet-nano-review-recovery-phrase

The Nano S will then ask you to confirm your seed by asking for two random words of your seed.

If, for example, it asks for the 10th word of your seed, scroll through the words and press both buttons when you see the 10th word of your seed.

If you have the Ledger Chrome application installed you can now access your wallet.

On your Ledger Nano S’s screen scroll through the options and press both buttons on the “B” icon that says “Bitcoin”.

Once you do this you should now see a wallet interface in the Ledger Chrome app. And that’s it!

You can now receive payments to your Ledger Nano S.

Recovery Phrase Notice!

Once your wallet has been setup and bitcoins are sent to your hardware wallet, anyone who has access to this recovery phrase can gain control of your bitcoins.

Make sure you don’t share your seed with ANYONE!

Keep it in a safe place that only you have access to.

Privacy

The Ledger Nano S can actually be setup without even being plugged into a computer.

Once setup, the best wallet option for privacy to use with Ledger is Electrum on the desktop or Mycelium on Android.

The Open Bitcoin Privacy Project ranked Ledger’s wallets as the most private Bitcoin wallet in their 2016 report.

Visit the website: www.ledgerwallet.com to buy or for any support.

Also, read:

Coupon Code: 21% off on Ledger Nano S and Ledger Blue

 

 

Coupon Code: 21% off on Ledger Nano S and Ledger Blue

I found one code on a Facebook page.

Which asked me to follow this steps to get 21% off on Ledger Nano S and Ledger Blue

1. Click on the Link https://www.ledgerwallet.com/Coupon/Code/LNS21
2. Place a fresh order
3. Use this Promo Code for Ledger Nano S

Coupon Code: LNS21

It worked for me and some of my friends, few of my Internet friends said, this code is country-specific.

I am not sure, you can Give it a try.

18622261_115290915720434_7104820264821616790_n

 

Where can I buy a Ledger Nano S for the lowest cost?

I will suggest you buy it from their official website.

  • It will ensure you receive original.
  • It will be at lowest price from anywhere else

Official Website Link: www.ledgerwallet.com

Since you are looking to buy Ledger Nano S at lower cost, why don’t you use our Coupon Code to get 21% off on your purchase?

Follow these steps to get 21% off Ledger Nano S

1. Click on the Link https://www.ledgerwallet.com/r/0da9
2. Place a fresh order
3. Use Coupon Code: BBF21

What is the official website for the Ledger Nano S?

www.ledgerwallet.com

If you are visiting the website to Buy a New Ledger Nano S. Don’t miss a discount of 21% using Coupon Code, by following steps given below.

Follow these steps to get 21% off Ledger Nano S

  1.  Click on the Link https://www.ledgerwallet.com/r/0da9
  2. Place a fresh order
  3. Use Coupon Code: BBF21

Coupon Codes are Country specific, why not give it a try.

 

The Ledger Nano S is a multi-currency hardware wallet, featuring a screen for payment validation and architected around a secure element for maximum protection of your assets.