Cryptocurrencies are a reality and we can not overlook the fact that they facilitate transactions in a great deal. In order to possess at least a fraction of a Bitcoin, or to do any kind of transaction with it, you would need a wallet. Popular Bitcoin wallets in 2020 include various types of digital storages. However, each of those comes with its own features.
A Quick Word on Wallets in General
Digital wallets are a necessity if you are dealing with cryptocurrencies. Moreover, whether you like to just view, or buy/sell or send/receive any of the cryptos, you would need a reliable digital wallet. The catch is that no matter how reliable a wallet is, a person needs to safeguard the passwords for using it by all means. Otherwise, the funds may be lost forever.
When using digital wallets, you would need to set up the private keys (which are basically your passwords), and public address (which is your online address visible to everyone). Experts recommend keeping cryptos in your own digital wallets, instead of using the wallets on exchange platforms. The reason is that platforms can potentially become vulnerable to hacking attacks. This is the only downside to storing cryptos in this way, while the advantages are many.
Once you have your own Bitcoin wallet, your funds will be accessible on your devices, be it mobile phone, laptop, etc. Moreover, transactions with Bitcoin have never been so easy, and simple to comprehend.
Ledger Nano S
When it comes to security, Ledger Nano S is among the safest wallets to use. It is a USB-like device on which you can store your Bitcoin, Ether, or Litecoin.
Its main feature is that it stores the funds and the private keys offline and is therefore not so prone to hacking.
Ledger Nano S allows for integration with other apps. This is convenient if you wish to transfer your funds to some other wallet, for example.
The same as Ledger Nano S, Trezor T is the hardware wallet made for the ultimate security and guarding of your crypto funds. It has a touchscreen and a space for Micro SD card. However, you should know that SD card will not store the information on private keys.
You can connect Trezor T to a laptop or any other device via USB.
Trezor T supports more than 1,000 cryptocurrencies. Among the most popular ones are: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Ethereum Classic, Stellar Lumens, Dash.
What makes it so reliable is its “password manager”. Trezor T features two-factor authentication, among other characteristics and was designed for safeguarding larger amounts. Hence its price exceeds the price of a Ledger Nano S.