Hardware wallets. Whitepaper on every Mac.
There is no boring week in crypto. I had already a topic planned for this week, but I cannot skip the surprising revelation that came a few days ago: the Bitcoin Whitepaper PDF can now be found on every new macOS. How did it happen? Nobody knows. It’s likely that a secret Bitcoiner developer snuck it in. Regardless, what a powerful message: Bitcoin is the honey badger that doesn’t care. It doesn’t even need Apple’s approval to land on every MacBook.
But the main topic this week is hardware wallets. I’ve been asked which one to choose many times, so I’ve finally put together a list of my recommendations and published it on the website. Better late than never!
Storing crypto on a hardware wallet is the ultimate way to protect your portfolio. Even the safest exchange faces at least potential political risks. When starting your crypto journey, you can trust Kraken or Coinbase until you learn how to be your own bank properly. But eventually, invest in a hardware wallet and move most of your stash there. Period. This is something what even the founder of Kraken, Jessie Powell encourages:
100% yes it has/will happen and 100% yes, we will be forced to comply. If you're worried about it, don't keep your funds with any centralized/regulated custodian. We cannot protect you. Get your coins/cash out and only trade p2p.
— Jesse Powell (@jespow) February 18, 2022
In 2023, there are many devices to choose from, but when it comes to crypto security, be conservative! Opt for a device tested by thousands of users over an extended period and a company that won’t vanish, leaving you without support. Trust me; many fancy solutions are no longer supported, causing headaches for their owners.
So which one should you choose? I’ve created two separate pages:
Hardware wallets for people holding many digital assets →
Hardware wallets for people holding only Bitcoin →
Most people should choose between Ledger and Trezor. Ledger supports the most extensive number of coins, and all devices have the same core abilities. Nano S Plus is a capable device, but Nano X offers better iPhone compatibility, while Stax provides the best UX thanks to its large touchscreen and screen keyboard. Plus, you can display your Legendary Badger on the lock screen. How cool is that?
Why choose Trezor? If you store mainly Bitcoin, Ethereum, and other supported coins (but check first!) — Trezor offers slightly better UX than Ledger Nano S/X. Typing is easier on both devices, especially on Trezor T with its colorful touchscreen.
For true Bitcoin enthusiasts, Coldcard Mk4 is the default choice. If you prefer better UX and simplicity, go for Trezor and install the Bitcoin-only version of the firmware. Jade is an excellent choice for those who love the Green Wallet app or want to operate with Liquid assets.
Personally, I mostly use Coldcard, but for years I relied on Trezor, which I still use for personal purposes.
So, which wallet do you use?
PS After discussion on the channel, I decided to order Bitbox2 and hopefully add it to the recomendations after some tests. Also, I will write a bit more about different security models those devices have and how to deal with it.