5 Hardware Wallets That Won't Share Your Seed Phrase With 3rd Party Companies

Ledger, a renowned manufacturer of hardware wallets, recently unveiled a contentious new feature named "Ledger Recover" for its devices, sparking substantial debate within the cryptocurrency community.

The said feature, an optional system available on the Ledger Nano, is engineered to assist users in retrieving their private keys under what is touted as a theoretically secure method. Despite this, the unveiling has been greeted with a significant degree of skepticism and disapproval stemming from apprehensions about security and privacy.

Yesterday, I wrote a detailed article on the Ledger debacle and go into more depth on the real concerns from this. Check it out below:

Ledger’s New Recover Feature That “Most Customers Asked For” Gets Backlash From Most Customers

Yesterday, Ledger, a prominent hardware wallet manufacturer, introduced a new and highly controversial feature called “Ledger Recover” to its devices, creating a significant stir within the crypto community . This feature, an opt-in system available on the Ledger Nano, is designed to help users rec…

BitByteBailey Jakob

From this controversial release from Ledger, I had to create this article and list of wayyyyy better hardware alternative options.

As Bitcoin continues to gain mainstream adoption, securing your precious Sats has become a paramount concern. One of the best ways to keep your Bitcoin safe is through a hardware wallet (one that isn't Ledger). This specialized type of device keeps your private keys offline and safe from potential hackers.

Today's BitByte article will explore five of the best Bitcoin hardware wallets currently on the market that won't share your seed phrase with 3rd party companies: Trezor, BitBox 02 Bitcoin-only edition, Blockstream Jade, Foundation Passport, and Coldcard.

Also, regarding the Ledger drama - I am just going to leave this here. (Thanks @shireh0dl for this one)

Alright, let's get into the good stuff...

1. Trezor

SatoshiLabs' Trezor has long been recognized as one of the most trusted and secure Bitcoin hardware wallets. It was one of the first to market, and it has maintained a strong reputation through continuous improvements and rigorous security measures.

Trezor wallets are fully open-source, which allows for peer review and enhances trust in the system's security. They are designed to isolate your private keys from the online world, ensuring that even if your computer is compromised, your Bitcoin stays safe.

2. BitBox 02 Bitcoin-only Edition

The BitBox 02 Bitcoin-only edition, produced by Shift Crypto, is a sleek, minimalist hardware wallet dedicated solely to Bitcoin storage. This single-purpose focus provides an added layer of security, as the device's firmware has been significantly pared down, reducing the potential attack surface.

The BitBox 02 Bitcoin-only edition features a dual-chip design, combining a secure chip with an open-source microcontroller for increased security and transparency. Its unique touch sliders provide a secure and intuitive way to verify and confirm transactions.

This hardware wallet also emphasizes backup and recovery, offering a microSD card slot for automatic backup and easy recovery.

3. Blockstream Jade

Blockstream Jade is an open-source, multi-cryptocurrency hardware wallet that delivers high security at an affordable price. While it supports multiple cryptocurrencies, it's particularly tailored for Bitcoin, offering full Liquid Network support.

Jade uses a secure element and a general-purpose microcontroller, providing a robust security structure. It has a large display that allows for easy verification of transaction details, and it supports QR code-based transactions, facilitating rapid and secure transfers.

One distinguishing feature of Blockstream Jade is its integration with Blockstream Green Wallet, a popular Bitcoin wallet known for its security and privacy features. This combination provides a seamless and secure Bitcoin management experience.

4. Foundation Passport

The Foundation Passport is a Bitcoin hardware wallet designed for simplicity and security. It emphasizes a minimalist, user-friendly approach, featuring a physical keypad and an e-ink screen.

Passport’s unique feature is its use of PSBT (Partially Signed Bitcoin Transactions) and QR codes for transaction verification. Instead of connecting to a computer or a mobile device via USB or Bluetooth, you scan QR codes between devices to send and receive Bitcoin, further reducing the risk of online attacks.

Moreover, the Passport is built on the foundation of open-source software and includes a variety of advanced features such as duress and brickme pins for additional security layers.

5. Coldcard

Coldcard, developed by Coinkite, is a Bitcoin-only hardware wallet known for its advanced security features. It's designed for users who prioritize security above all else and are willing to navigate a steeper learning curve.

Coldcard utilizes a secure element to protect your private keys and supports fully air-gapped transactions, meaning your wallet never needs to connect to a potentially compromised computer or internet. All transactions can be conducted offline, using MicroSD cards to transfer transaction data between the wallet and your computer.

One of the standout features of Coldcard is its "duress wallet" functionality. This allows you to create a secondary PIN that opens a decoy wallet, a useful feature if you're ever physically forced to disclose your PIN.

The biggest negative from Coldcard is that they are no longer open-source. They swapped from open-source to "Verifiable Source Code", which is not the same and is a bit dissapointing of them to be honest.

Choosing the Right Wallet

The choice between these hardware wallets ultimately depends on your specific needs and comfort level. Each of the five Bitcoin hardware wallets covered provides a robust level of security, but they differentiate themselves through their user interfaces, additional features, and dedication to supporting only Bitcoin or multiple cryptocurrencies.

For beginners, the Trezor wallets offer an excellent balance of security and ease of use. The BitBox 02 Bitcoin-only edition and the Foundation Passport provide an additional layer of security by supporting only Bitcoin and emphasizing simplicity and usability.

For users who want a budget-friendly option that doesn't compromise on security, Blockstream Jade is a compelling choice. Lastly, if you prioritize advanced security features and are willing to navigate a more complex user interface, and are okay with it not being open-source, the Coldcard wallet is an excellent choice.

Final Thoughts

As Bitcoin continues its journey towards mainstream adoption, the need for secure and user-friendly hardware wallets will only grow. The five wallets we've looked at today - Trezor, BitBox 02 Bitcoin-only edition, Blockstream Jade, Foundation Passport, and Coldcard - each offer unique features that make them worthy of consideration for anyone looking to secure their Bitcoin holdings.