What are the most popular hardware wallet brands in the cryptocurrency markets?
Navigating the world of cryptocurrencies can be overwhelming, especially for beginners. One crucial aspect of securing your digital assets is investing in a reliable hardware wallet. These physical devices provide an extra layer of protection against online threats and unauthorized access.
If you’re new to the crypto space and wondering which hardware wallet brand to choose, you’ve come to the right place.
In this article, we will explore the top 7 hardware wallet brands that have gained popularity in this still very young crypto market. Additionally, each hardware wallet brand will be introduced along with some brief background history, revenue trends over the years, and their most popular devices ✨.
Best Hardware Wallet Brands In Crypto History
Trezor(Launched in 2013, part of SatoshiLabs Group )Ledger (French company, founded in 2014)Ellipal(Hong Kong headquarters, founded in 2017)Safepal(Headquartered in Singapore, founded in 2018)BitBox(Swiss company, launched in 2019)OneKey(Japanese company, founded in 2020)KeyStone(Hong Kong headquarters, launched in 2021)
❗Remember that this listing is in chronological order and not ranked. Customer opinion of brands are subjective with unique user experiences.
Ledger and Trezor: Two Brands in Crypto That Are Pioneers
In the early days of cryptocurrency, security was a paramount concern. As the market grew, so did the risks of hacking and theft. Two companies, Ledger and Trezor, emerged as pioneers in the field of crypto security, revolutionizing the way people stored and managed their digital assets.
Trezor, founded in 2013, introduced the first commercially available hardware wallet: Trezor One. This innovative device provided a secure offline storage solution for cryptocurrencies, safeguarding them from online threats. Its user-friendly interface and robust security features quickly gained popularity among early adopters.
Ledger another popular crypto brand, established in 2014. It followed suit with its own line of hardware wallets. The company focused on providing a sleek design(steel) and advanced security features. Their flagship product, the Ledger Nano S, offered a compact and portable solution for storing multiple cryptocurrencies. Its intuitive interface and support for a wide range of coins made it a hit among the crypto community.
Both Ledger and Trezor played a crucial role in shaping the early crypto market. On top of that, customers(mostly Bitcoin users) had the ability to pay in Bitcoin which made them the first companies in the world to accept BTC payments.
Top 7 Hardware Wallet Brands in Crypto[Listed Chronological]
Next, I’ll deep dive into the several companies behind the famous brands. Their history and background, what kind of market share they established, and the most popular devices for each brand at the time of writing.
1. Trezor(The first Hardware Brand in Crypto)
Founded in the heart of the Czech Republic, Trezor emerged as a pioneer in the world of crypto security. Recognizing the growing concerns surrounding online exchanges and the vulnerability of digital assets, Trezor’s founders, Stick and Slush, started a mission to revolutionize the industry.
This by offering crypto users to store their cryptocurrencies into self-custody and off-line. As Trezor continues to grow and innovate, it remains committed to its mission of empowering individuals and businesses to take control of their crypto assets.
Currently, with a team of 131 dedicated employees, Trezor has witnessed impressive growth, expanding by 42% in 2024 alone. This expansion reflects the increasing demand for secure and reliable hardware wallets as the crypto market continues to evolve.
Finally in 2023, Trezor generated $32 million in revenue, solidifying its position as a leading player in the industry. This financial success is a testament to the company’s commitment to innovation, quality, and customer satisfaction.
Most Popular Trezor Devices
Trezor Model One(Two button pad)Trezor Safe 3(Monochromatic OLED screen)Trezor Safe 5(With a 1.54” touchscreen)
2. Ledger(Most Famous Hardware Wallet Brand)
Next, is Ledger famous for it’s Ledger Nano models. Founded in 2014, Ledger emerged as a leading player in the crypto security space. The company’s mission is to provide secure, user-friendly, and affordable hardware wallets for storing and managing cryptocurrencies.
Ledger’s flagship product, the Ledger Nano S, was one of the first commercially available hardware wallets. Its compact design and intuitive interface made it accessible to a wide range of users.
As a promising crypto start-up Ledger launched several funding rounds for investors. In their entire history their have been a total of 9 rounds, raising a total of $468 million.
This has resulted that Ledger is the biggest crypto hardware company in the world employing 238 people with a total revenue of $53,4 million in 2023.
Popular Ledger Devices
Ledger Nano S(Entry level device)Ledger Nano X(Use Bluetooth to connect to mobile)Ledger Flex(Air gapped and Touchscreen)
3. Ellipal(For Secure Cold Wallets)
A private company and developer of cold wallets suited for all cryptocurrency users. It’s located in China and has headquarters in Hong Kong. The company’s main product is the “ELLIPAL Titan”. A one-stop mobile transaction product that provides users with one-stop blockchain entry tool as well as mobile support.
Particularly, it provides services such as multi-currency asset management, trading, exchange, market trend analysis and news, providing a one-stop platform for securing cryptocurrency and receiving updates on cryptocurrency markets.
In the history of the company there have been 3 funding rounds by VC’s. However, only the initial funding amount of $1.48 million came publicly available, the other two rounds have been kept private.
Most Used Device(s)
ELLIPAL Titan 2.0(Air-gapped Tech)
4. SafePal(Strongly Associated with Binance Labs)
SafePal is a hardware wallet company that has gained significant traction in the cryptocurrency market, particularly due to its association with Binance Labs, the venture capital arm of the popular cryptocurrency exchange, Binance. It’s founded in 2018 and has it’s headquarters in Singapore.
This hardware wallet brand is an online platform offering a cryptocurrency wallet to secure & manage crypto assets. Its product portfolio includes the SafePal app, hardware wallet, extension wallet, cypher seed board, leather case, and more.
Their most recent funding round by investors was in 2021, they raised $7.26 million from an ICO. Finally, they claim that they are a remote-first company with teams across four continents.
Popular SafePal Devices
S1 Hardware Wallet(Easy access wallet)S1 Pro Wallet(Air-gapped only wallet)
5. BitBox(A Swiss Crypto Brand)
Next BitBox, a hardware wallet brand launched in 2019. This crypto company has recently undergone a brand overhaul where it rebranded from Shift Crypto to BitBox. Additionally, BitBox is a privately-held company based in Zurich, Switzerland.
They have a team of Bitcoin contributors, crypto experts, and security engineers builds products that enable customers to enjoy a stress-free journey from novice to mastery level of cryptocurrency management.
Moreover, this company is very dedicated to the Bitcoin journey. It recognizes the unique properties of decentralization, and censorship-resistance achieve this by creating immutable money. This technological breakthrough will reshape society in unforeseen ways.
Popular BitBox Device(s)
BitBox02(Bitcoin-only wallet)
6. OneKey(Innovative Company and Open Source)
OneKey is a Japanese crypto company that has it’s headquarters in Tokyo, Japan. This crypto brand grew fast in a couple of years and has been funded three times already. Moreover, the latest funding round was in February 2023 where the investment partners IOSG Ventures and Ribbit Capital were involved.
This new company specializes in providing crypto products designed for beginners. They also operate multiple online stores where customers can purchase their products. In addition, OneKey products are now available on Amazon and the Chinese platform Youzan.
Popular OneKey Devices
Onekey Pro(Biometric tech & innovative)Onekey Touch(Another new OneKey device)
7. KeyStone(Hardware and Web 3 Compatible)
Last hardware wallet brand in this list is KeyStone. A Chinese crypto hardware company from Hong Kong and founded in 2021. Their company mission is to secure the decentralized crypto market with open-sourced hardware cold wallets and apps.
Keystone seamlessly integrates with top-tier software wallets, supports leading cryptocurrencies, and keeps pace with the hottest projects in the Web3 ecosystem.
A notable example is their recent partnership with the Solana team to integrate Keystone into the SolFlare wallet solution. Large investment firms have also injected new capital into this cryptocurrency company, with Qiming Venture Partners being the most recent one.
Most Popular KeyStone Device(s)
Keystone 3 Pro(Air-gapped security)
What Are the Main Features of Hardware Wallets in Crypto?
Most hardware wallets offer a variety of features designed to enhance security and user experience. Here are some of the key features to look for in a new hardware wallet:
USB Hardware Wallet: This is the most common type of hardware wallet. It connects to your computer via a USB port and is typically more affordable than other options. However, USB wallets can be susceptible to malware attacks if not used with caution.QR Based Hardware Wallet: These wallets generate QR codes that can be scanned using a smartphone or tablet. This offers greater convenience but may be less secure than USB wallets, as QR codes can be compromised if intercepted.Biometric Authentication: Some hardware wallets for TRON incorporate biometric features like fingerprint or facial recognition. This adds an extra layer of security by requiring physical identification to access your funds.Touchscreen: Touchscreen hardware wallets provide a more intuitive user interface, making it easier to navigate and manage your cryptocurrencies. They also offer visual confirmation of transactions, reducing the risk of errors.Air gapped: This is the most secure type of hardware wallet. Air gapped devices are completely isolated from the internet, preventing hackers from accessing your private keys. They often require physical interaction to authorize transactions, providing maximum protection against online threats.
Related: Best NEW hardware devices in crypto
Conclusion: Best Hardware Wallet Brands in Crypto
Finally, it’s up to you to keep up with the latest developments among the popular hardware wallet brands. The devices discussed in this article offer cutting-edge features, such as touchscreen interfaces, biometric authentication, and air-gapped security, to protect your funds from hackers and other threats.
Among the most innovative options on the market are the Ledger Flex and the OneKey devices. The Ledger Flex, with its flexible display and built-in security features, provides a convenient and secure way to manage your cryptocurrencies. The OneKey devices, known for their user-friendly interface and advanced security measures, offer a compelling choice for both beginners and experienced investors.
Ultimately, every brand in the crypto industry has it’s unique user experience, price and security preferences. By carefully considering the features and benefits of each crypto brand, you can make an informed decision and protect your crypto investments with confidence.
Top 7 Hardware Wallet Brands (Including Popular Devices) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.