Welcome to our latest post on the best cryptocurrency wallets available in the market today! In this article, we will be comparing two popular hardware wallets – Ledger Nano S and Safepal. We will explore their features, security, user-friendliness and more to help you decide which wallet is best suited for your needs. Whether you are new to cryptocurrencies or a seasoned investor, this guide will provide valuable insights to help you make an informed decision about the best crypto wallet for you. So, let’s dive in!
Ledger Nano S vs Safepal – Which Wallet Is Best to Store Your Cryptocurrencies in 2021?
Cryptocurrencies have gained extensive popularity and attention nowadays. With new digital coins emerging each day and the market value continuously ballooning, managing them has become a bit of a task that’s necessary for everyone to tackle efficiently.
One key aspect of cryptocurrency management is storing them safely to protect them from any potential hacking incidents or cyber attacks. Therefore, it is essential to choose the right wallet since the safety of your digital assets is paramount.
In this article, we compare two famous cryptocurrency wallets, Ledger Nano S and Safepal, and determine which is the best option for storing your precious coins.
Introduction to Ledger Nano S and Safepal
Ledger Nano S is a hardware wallet that is focused on providing state-of-the-art security while also being user-friendly. It is the entry-level product of Ledger SAS, which is a leading provider of cryptocurrency hardware wallets and security solutions in the market. Their hardware wallets have become synonymous with secure cryptocurrency storage.
Safepal is a hardware wallet that was launched in 2019 as an alternative to existing hardware wallets in the market. It is made by the multinational financial services corporation, Binance, which has its own cryptocurrency exchange.
Ledger Nano S
- Price: $59 USD
- Compatibility: Windows, Mac, Linux, and mobile devices
- Security: Bip39 seed words backup, two-factor authentication, ST31H320 secure chip
- Coins supported: Around 100 coins and over 1500 ERC-20 tokens
- Display: OLED screen
- Size: 56.95 x 17.4 x 9.1 mm
- Price: $39.99 USD
- Compatibility: Windows, iOS, and Android mobile devices
- Security: EAL5+ secure element chip, biometric verification, seed phrase backup
- Coins supported: 20 mainstream coins and over 10,000 ERC-20 tokens
- Display: 1.3 inch LCD screen
- Size: 55.6mm x 20mm x 8.5mm
Which Wallet Is Best for Storing Cryptocurrency in 2021?
Both Ledger Nano S and Safepal have their pros and cons when it comes to storing cryptocurrency. Let’s look at these wallets in detail to determine which one is the best for you:
Ledger Nano S
As per Ledger, their hardware wallet is capable of storing more than 100 digital assets, which covers most mainstream cryptocurrencies. It supports over 1500 ERC-20 tokens and has compatibility with Windows, Mac, Linux, and mobile devices. One of its most unique feature is the ST31H320 secure chip that’s installed in the device that guarantees secure storage and a safe payment process.
Safepal is a more affordable option and still provides advanced security features to keep your digital assets protected. It is compatible with Windows, iOS, and Android mobile devices. It has a 1.3 inch full-color LCD screen, making it easier to read prices and other information. It also supports more than 10,000 ERC-20 tokens, so you aren’t limited to storing Bitcoin only.
Frequently Asked Questions
Q1. What is the best hardware wallet for trading cryptocurrency?
Ans: KeepKey is recommended as the best hardware wallet for trading since it is compatible with multiple trading platforms and has an easy-to-use interface.
Q2. What is the recommended hardware wallet for hodling?
Ans: Ngrave Zero is the recommended premium hardware wallet for hodling since it provides ultimate security features and is capable of storing a multitude of cryptocurrencies.
Q3. Can I learn technical analysis and start trading with Cryptocurrency?
Ans: Yes, TradingView offers a free trial that provides various tools to learn technical analysis and start trading.
Q4. Are there any free tips available for investing in Cryptocurrency?
Ans: Yes, Cryptocurrency tips can be given to the channel through several BTC, ETH, BCH, or ZEC addresses.
Q5. Can I earn free BTC?
Ans: Yes, for earning free BTC, you can download Lolli, which gives you Bitcoin rebates while shopping online.
In conclusion, both Ledger Nano S and Safepal are excellent hardware wallets that offer advanced security features to store your digital assets safely. Despite being more affordable, Safepal offers less coin support and compatibility than Ledger Nano S. However, Ledger Nano S is more expensive and has better compatibility and higher coin support. Ultimately, the choice between these two wallets depends on your specific requirements, but they are both excellent options to consider.