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What are hardware wallets?
Hardware wallets are a type of cold wallet to store crypto that are never connected to the internet.
They generate secret recovery phrases (usually 18 or 24 words) offline. This reduces the risk of your crypto being stolen by a hacker to almost zero.
They are handheld physical devices that you can connect to a computer. Once connected to a computer (usually through a cable) you can transfer your crypto to them for long-term secure storage.
All hardware wallets are self-custody wallets, because they give you full control over their secret recovery phrases and private keys.
What are some popular hardware wallets?
Two battle-tested brands are Ledger and Trezor.
Ledger
Ledger also has two available models: Ledger Nano S Plus (79 USD), and Ledger Nano X (119 USD).
You can find the comparison chart for Nano S Plus and Nano X on the Ledger website here.
Ledger Nano X can work with your mobile phone via bluetooth, so if you don’t have a desktop or laptop computer this is the hardware wallet for you.
You can buy, exchange, and stake crypto by pairing a Ledger hardware device with the Ledger Live app.
Trezor
Trezor has two available models: Trezor One (69 EUR) and Trezor Model T (249 EUR).
Note that if you don’t live in Europe you’ll also have to pay a customs fee to import a Trezor.
You can find the feature comparison chart here. Unless you have one of the coins that only the Model T supports, go for the cheaper option.
Trezor also integrates with Exodus. Find out how to use the two together on Exodus’s support page here.