Hardware Wallets, Model by Model
Every hardware wallet on the market, with specific models, real specs, security certification levels, and honest trade-offs. No sponsored rankings. Use the comparison tool at the bottom to filter by what matters to your threat model.
Video Narration: Q3 2026
Video narration arrives Q3 2026. Full written lesson available below.
How to Read Hardware Wallet Specs
Before going model by model, three specs matter more than any others: the security chip certification, whether the device is air-gapped, and whether the firmware is open source. Everything else is preference.
Security chip certification (EAL level)
Common Criteria Evaluation Assurance Levels range from EAL1 (functionally tested) to EAL7 (formally verified). Consumer hardware wallets typically sit at EAL5+ or EAL6+. NGRAVE ZERO is the sole EAL7 device. Higher is better, but EAL5+ is sufficient for most individual holders.
Air-gapped vs connected
Air-gapped means the device never connects to any internet-connected system via wire or wireless. Transactions move via QR codes or microSD cards only. Connected devices use USB, Bluetooth, or NFC. Air-gapped eliminates the wireless/wired attack surface but adds friction to every signing operation.
Open source vs proprietary firmware
Open source firmware can be independently audited. Anyone can read the code and verify it does what it claims. Proprietary firmware requires trusting the manufacturer. Trezor and Keystone are open source. Ledger, ELLIPAL, and others are proprietary. This is a genuine security distinction, not just a philosophical one.
Ledger
Proprietary BOLOS OS. Connected via USB/Bluetooth. CC EAL5+ (Nano X) or EAL6+ (Nano S Plus, Flex, Stax) depending on model.
Nano S Plus
$59Entry-level. No Bluetooth, no touchscreen. Solid for users who want a simple device for storing Bitcoin or a small number of assets. The storage limit means you can't install all apps simultaneously - you swap them as needed (assets remain safe regardless).
Nano Gen5
$179Mid-range with a touchscreen and Bluetooth. Bluetooth signing via Ledger Live mobile is convenient, but it introduces a wireless channel that the Nano S Plus avoids.
Flex
$249Designed for regular dApp interaction. E Ink screen is more readable in daylight and persists without power, which has practical advantages for checking addresses.
Stax
$399Premium form factor. Same security chip as the Flex. You're paying for the curved display and wireless charging, not a higher security level. NFC adds another connection surface to consider.
The BOLOS OS is proprietary and closed source. In 2023, Ledger announced Ledger Recover, an optional feature that could send encrypted seed phrase shards to third-party custodians for cloud backup. The feature is opt-in, but its existence demonstrated that the firmware architecture permits the seed to leave the device. This is the central unresolved trust issue with Ledger.
Trezor
Fully open source, chip to firmware. USB-C. No Bluetooth.
Safe 3
$79Entry-level open-source hardware wallet. The Optiga Trust M (Infineon) provides EAL6+ security. Supports passphrase (25th word) for hidden wallets. Fully open source from firmware to the Suite desktop app.
Safe 5
Check trezor.ioMid-range. The TROPIC01 chip is Trezor's own design, open-sourced. This means the security can be verified from hardware level upward - no proprietary chip black boxes.
Safe 7
$249IP67 water and dust resistance. Post-quantum cryptography ready, meaning it already supports CRYSTALS-Dilithium signatures if/when the Ethereum or Bitcoin networks upgrade. The TROPIC01 chip is the same open-source design as Safe 5.
Tangem
Seedless design. NFC only. Samsung S3D350A (EAL6+).
Card 2-pack
$50.90 (~$25/card)Each card contains a Samsung S3D350A secure element (EAL6+). During setup, the card generates a key pair inside the chip. The key never leaves the chip in any form - there is no seed phrase. You authorize transactions by tapping the card to your NFC-enabled phone. The second card is your backup: tap it during setup to create a second card that shares the same keys.
Card 3-pack
$64.90 (~$21.64/card)Same chip, same design, three cards. The third card gives you an additional backup and the option to distribute cards geographically. Common setup: one card in your wallet, one at home, one in a safety deposit box.
Ring + 2 backup cards
~$150The Ring contains the same Samsung EAL6+ chip embedded in a ceramic/titanium wearable. Tap your phone to your ring finger to sign transactions. The two included backup cards share the same keys. Practical for daily spending on small amounts; store large holdings in cold cards separately.
Tangem's threat model is the inverse of traditional hardware wallets. Traditional wallets protect a seed phrase that could be extracted if someone gets access to the device long enough. Tangem has no seed phrase to extract. The attack on a Tangem setup is physical: destroy all cards simultaneously. With a 3-card setup stored in three different locations, this is extremely unlikely. Use code NBH98E at tangem.com for 10% off.
ELLIPAL
Fully air-gapped. QR code only. Anti-tamper self-destruct.
Titan 2.0
$169The Titan 2.0 is the flagship. Its defining feature is the anti-tamper mechanism: if the case is opened or physically attacked, the device erases its keys. Combined with the zero-wireless-connection design, this is designed for adversarial physical environments. 10,000+ supported tokens. The USB port charges the device but carries no data.
Titan Mini
~$79Same air-gap principle, smaller form factor. For users who want the security of full air-gap at lower cost and in a pocketable size.
X Card
Check ELLIPAL siteHigher cert level than the Titan lineup. Card-sized with the same QR-only communication. The EAL6+ chip is a notable upgrade for institutional or high-value use cases.
Keystone 3 Pro
Air-gapped. Open source firmware. 3 separate security chips.
Keystone 3 Pro
~$149The open-source answer to ELLIPAL. Keystone 3 Pro uses three separate security chips rather than one, creating redundancy in the security architecture. The firmware is fully open source and has received third-party audits. Transactions sign via QR code only. Firmware updates come via microSD card, which you can verify against checksums before applying.
Multiple seed phrase support means you can manage completely separate wallets on one device without them ever interacting. SLIP-39 Shamir backup support is built in. For technically sophisticated users who want the air-gap security of ELLIPAL but want to be able to verify the firmware, Keystone is the better choice.
SafePal, NGRAVE, CoolWallet, D'CENT, imKey
SafePal S1 / S1 Pro
$49.99 / $89.99Air-gapped via QR code. CC EAL5+. 30,000+ tokens. The S1 is the most affordable air-gapped hardware wallet on the market. Binance backed, which is either reassuring (institutional backing) or concerning (centralization) depending on your perspective. The X1 model adds Bluetooth, breaking the air-gap principle.
NGRAVE ZERO
~$398CC EAL7 - the only consumer device at this certification level. Air-gapped, fingerprint authentication, 4" touchscreen. The GRAPHENE metal plate for seed storage is sold as a companion product. For users with high-value holdings who want the highest available certification and are willing to pay for it.
CoolWallet S / Pro
$99+Credit card form factor that fits in a standard wallet. CC EAL5+. Bluetooth connectivity. The convenience of card form factor comes with the trade-off of Bluetooth as the communication channel. No air-gap. Well suited for daily spending wallets with small balances.
D'CENT Biometric
$109The only hardware wallet with a built-in fingerprint sensor. CC EAL5+. Bluetooth and USB. The fingerprint template stays inside the secure element and never transmits. Solid for users who want biometric authorization and are comfortable with Bluetooth connectivity.
imKey Pro
~$59Bluetooth and USB. CC EAL5+. Primarily adopted in Asian markets. Mobile-first design. Strong for users already in the Asian crypto ecosystem. Limited DeFi integration compared to Ledger or Trezor.
KeepKey
Status: verify current availabilityKeepKey was originally developed independently, then acquired by ShapeShift. When ShapeShift went fully decentralized in 2021 and eliminated its corporate structure, KeepKey's development support became unclear. As of 2026, verify current firmware update status and community support before purchasing. A hardware wallet with uncertain maintenance is a security liability regardless of the hardware quality.
SecuX V20 / W20
Check SecuX siteBluetooth and USB. CC EAL5+. Touchscreen. Cross-platform support. No affiliate program available. Reasonable mid-tier option for users wanting Bluetooth convenience without the Ledger price premium.
Compare and Filter
Use the tool below to filter wallets by your criteria and compare up to three side by side. Select wallets with the Compare button, then click Show Comparison.
Filter Wallets
10 wallets match
Ledger
Nano S Plus, Nano Gen5, Flex, Stax$59-$399Cert
CC EAL6+ (S Plus, Flex, Stax); EAL5+ (Nano X)
Connectivity
USB-C, Bluetooth (Gen5/Flex/Stax)
Security chip
ST33K1M5 EAL6+ (S Plus, Flex, Stax); ST33J2M0 EAL5+ (Nano X)
Assets
5,500+
Strengths
- Widest app ecosystem (100+ apps on Nano S Plus)
- Ledger Live has built-in staking and NFT management
- Largest hardware wallet user base (battle-tested at scale)
Trade-offs
- BOLOS OS is proprietary and closed source
- 2023 firmware update controversy introduced optional seed recovery feature
- No air-gap; relies on USB or Bluetooth connection
Trezor
Safe 3, Safe 5, Safe 7$79-$249Open sourceCert
CC EAL6+ (Safe 3: Optiga Trust M; Safe 7: TROPIC01)
Connectivity
USB-C (Safe 3/5); USB-C + wireless charging (Safe 7)
Security chip
Optiga Trust M (Safe 3); TROPIC01 (Safe 5/7)
Assets
8,000+
Strengths
- Fully open source from chip (TROPIC01) to firmware
- Passphrase (25th word) enables hidden wallets
- Safe 7 supports post-quantum cryptography and IP67
Trade-offs
- No built-in Bluetooth for mobile signing
- Safe 7 wireless charging is convenient but adds a connection surface
- Smaller app ecosystem than Ledger
Tangem
Card 2-pack, Card 3-pack, Ring$50-$150Air-gappedCert
CC EAL6+
Connectivity
NFC only
Security chip
Samsung S3D350A (EAL6+)
Assets
6,000+
Strengths
- No seed phrase: keys never leave the card's secure element
- No battery, no screen, no cable - near-zero maintenance
- Ring form factor for wearable signing
Trade-offs
- If all cards/rings are lost with no backup, recovery is impossible
- No screen for address verification on the device itself
- NFC can be jammed or intercepted in theory (though no documented attacks)
ELLIPAL
Titan 2.0, Titan Mini, X Card$79-$169Air-gappedCert
CC EAL5+ (Titan 2.0); EAL6+ (X Card)
Connectivity
QR code only (no USB data, no Bluetooth, no WiFi, no NFC)
Security chip
EAL5+ secure element (Titan 2.0)
Assets
10,000+
Strengths
- Strictest air-gap: zero wired or wireless connections
- Anti-tamper self-destruct if case is opened
- 4" touchscreen on Titan 2.0; no-computer setup possible
Trade-offs
- QR-only workflow is slower for frequent signers
- Firmware is not open source
- Larger form factor compared to card-based options
Keystone
Keystone 3 Pro~$149Air-gappedOpen sourceCert
CC EAL5+ (individual chips)
Connectivity
QR code, microSD for firmware updates
Security chip
3 separate security chips
Assets
5,500+
Strengths
- Fully open source firmware - independently auditable
- 3-chip architecture: dedicated secure elements for each function
- Supports multiple seed phrases and SLIP-39 Shamir backups
Trade-offs
- Smaller brand recognition than Ledger or Trezor
- QR-only workflow adds friction for high-frequency traders
- microSD firmware update path requires careful chain of custody
SafePal
S1, S1 Pro, X1$49-$90Cert
CC EAL5+
Connectivity
QR code (S1/S1 Pro); Bluetooth 5.0 (X1)
Security chip
EAL5+ secure element
Assets
30,000+
Strengths
- Broadest token support at 30,000+
- S1 and S1 Pro are air-gapped via QR code
- Best value air-gapped option at $49
Trade-offs
- X1 Bluetooth connectivity breaks the air-gap model
- Binance association (centralization concern for some users)
- 1.3" screen on S1 is small for address verification
NGRAVE ZERO
ZERO, GRAPHENE~$398Air-gappedCert
CC EAL7 (highest consumer certification worldwide)
Connectivity
QR code only
Security chip
EAL7 certified secure element
Assets
3,000+
Strengths
- EAL7: the only consumer device with military/government-grade certification
- Fingerprint authentication built in
- GRAPHENE metal plate for seed phrase storage sold as a paired product
Trade-offs
- Premium price (~$398); highest cost air-gapped option
- Smaller asset support list than competitors
- Firmware is not open source
CoolWallet
CoolWallet S, CoolWallet Pro$99+Cert
CC EAL5+
Connectivity
Bluetooth
Security chip
EAL5+ secure element
Assets
10,000+
Strengths
- Credit card form factor - fits in a standard wallet slot
- Bluetooth signing for mobile-first users
- Pro version adds DeFi features
Trade-offs
- Bluetooth is an active attack surface that QR/NFC air-gapped alternatives avoid
- No affiliate program available (no purchase link)
- Small screen limits address verification
D'CENT
Biometric Wallet$109Cert
CC EAL5+
Connectivity
Bluetooth, USB
Security chip
EAL5+ secure element
Assets
2,000+ (60+ blockchains)
Strengths
- Only hardware wallet with built-in fingerprint sensor
- Biometric authentication replaces PIN for daily use
- OLED display with clear transaction details
Trade-offs
- Bluetooth connectivity; not air-gapped
- Narrower asset support than ELLIPAL or SafePal
- Smaller ecosystem and community than Ledger/Trezor
imKey
imKey Pro~$59Cert
CC EAL5+
Connectivity
Bluetooth, USB
Security chip
EAL5+ secure element
Assets
1,000+ (major chains)
Strengths
- Mobile-first design with Bluetooth pairing
- Strong adoption in Asian markets
- Compact form factor
Trade-offs
- Bluetooth connectivity; not air-gapped
- Smaller Western community and support resources
- Limited DeFi integration
Knowledge Check
Module 2 - 7 questions
NGRAVE ZERO holds what security certification, and why does that level matter?
What is the name of Ledger's proprietary operating system, and why is it relevant to trust?
The Tangem Card uses a 'seedless' design. What does this mean for recovery if you lose all your cards?
ELLIPAL Titan 2.0 communicates transactions how?
The Trezor Safe 7 introduced TROPIC01, its in-house security chip. Why does Trezor making its own chip matter?
Which hardware wallet is the only one on the market with a built-in biometric fingerprint sensor?
SLIP-39 is a standard for splitting a seed phrase into multiple shares. Which hardware wallet supports this natively?