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Alternative to Ledger: Best Hardware Wallets
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In view of recent events regarding Ledger, its hardware wallet, closed source code and the issue of potential risks related to seed phrase recovery, would it be possible to provide an update on comparisons to include currently available hardware wallets, aka what is an alternative to Ledger? Well, let's jump in. So we're going to go through this quick and we've done many, many videos. We'll share the wallet security playlist up here after. Very, very important, you guys, and we'll talk about the importance of that in a minute. But first of all, the all-around best all-purpose option for everybody on average is one of the original crypto wallets in the space. It's been around since day one.
The device is extremely reliable and the company is extremely reputable. The code is open source and extremely well documented. And that's why we believe Tracer Model T is the pick for the best all-purpose hardware wallet, its coin support and its integrations. It supports over 1800 cryptos, we think, last count. And if you trade a lot between different cryptos, then Tracer is the way to go. Additionally, Tracer is the second most, has the second most number of third party integrations just behind Ledger. And most applications such as Web3, Metabass, CoinSwaps and other crypto wallets typically will have an integration to Tracer if they support hardware wallets. It's also very beginner friendly and has an intuitive interface.
And they do have CoinJoin, which is a nice privacy feature, but I'll talk about that in one second as well. In the long term, this is, we believe CoinJoin can be a nice feature for making things more private for people that want to kind of stay off the grid. But CoinJoin is not without its controversy. So there's a lot of backlash out there from Maxis and others. People are mad about the CoinJoin and Tracer partnership because they believe it could compromise the privacy of their Bitcoin transactions. And not really.
But what it could do, and this is kind of the issue, is some people are concerned that CoinJoin and Tracer partnership could lead to Tracer being targeted by law enforcement or governments interested in tracking Bitcoin transactions. They also worry that the partnership could make it easier for governments to force an attack this kind of area of a wallet. So governments don't want to not know what you're doing. As we've learned over the last couple of years, governments are behind everything. They're in Twitter, they're in Facebook, they know everything about you. So for those who are extra paranoid about privacy, this is a good thing, but it could make you a target of the government as well.
That's the backlash from CoinJoin. Just want to address that issue too, to make sure you are aware. I'm not that concerned about it, but other people may be. Next number two option is the best versatile option, as we call it, is Bitbox02. By the way, I have never had so many wallet questions in my life as I had since Wednesday of this week. Literally hundreds and hundreds in the community. So thank you all for the questions. We took them all in and we created this little summary for you. So Bitbox02 is a great wallet, extremely versatile, open source, well documented, reputable, it's ticking all the boxes for us. Tick, tick, tick.
It integrates with popular wallets, software platforms, and it supports ShapeShift as well. And it also Bitbox02 also has a Bitcoin only version for Bitcoin purists, which reduces the attack surface area. It doesn't have the coin support as Trezor, Model T or Ledger, but it's a great all round for both Bitcoiners and all coiners. Let's go for number three is Blockstream Jade. Blockstream Jade is one of the easiest to use and the most convenient options for storing Bitcoin. And it's only 50 bucks. And if you are on a budget and you are not technical, then this is probably the best option for you. And the only thing to note with Blockstream Jade is it's Bitcoin only.
So you'll have to get another key for your other coins going forward. But as I say, sometimes it's not bad practice to have multiple keys. But again, make sure your OPSEC is buttoned up. Next best minimalism option, Cold Card Mark 4 is our minimalist option. And in security, minimalism is always the best as there's not much more minimal than the Cold Card. Cold Card is often regarded as one of the top choices for advanced security focused users. It's completely air gapped, open sourced and well documented. However, it's not for beginners or the non-technical. So be careful of that as well. Now this is one that we had a lot of questions about.
And we did a video on this in the Q&A a few months ago. I don't remember where it was, but it's somewhere. So search air gap and how to build your own wallet, etc. Pretty cool. Air gap dot IT is the best DIY option, by the way. And by the way, if you're going to do these old things lying around, as I mentioned, you can build your own, which is really cool. So it is open source iOS and Android software that turns your old phone into an offline hardware wallet. It supports a variety of crypto assets, including Bitcoin, Ethereum, Cosmos, Polka dot Tracer, Kusama and a few others. And the software is free.
You do need to pay, I think, for a compatible iOS or other Android phone that you can use as a deactivated device. And it's not too complex to set up. But if you have an old device sitting at home, as everybody does, I can't tell you how many I probably have. This is a great option. You basically do everything for free. Now a quick flow through for those who want to set up. It's super easy. You download the AirGap Vault to your offline device. You download it to your online device. Remember, you need two devices. And just follow these instructions, pause the video, etc. The online device creates a QR code, scan it, done. Bingo.
It's pretty neat, pretty easy. And it's worth playing around with again. But you don't even have to be that technical to do this, too. .
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Skrybot. 2023, Transkrypcje video z YouTube
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