Why consider a hardware wallet
A hardware wallet manages private keys on a dedicated device, reducing their exposure to everyday internet use. It cannot stop you confirming a wrong address, signing a malicious transaction or exposing a backup. Understand and check each action. See Ethereum's wallet-security guidance.
Three official starting points for comparison
List your assets, networks, phone or computer, and backup and recovery needs before checking a specific model.
| Brand | Official starting point | What to check before buying |
|---|---|---|
| Ledger | Official start page | Model setup, official software, authenticity checks and asset compatibility |
| Trezor | Backup-format guide | The model's backup format, recovery requirements and compatible software |
| Keystone | Official device guide | The model's setup, connection, signing and backup instructions |
Check current manufacturer information for models, features and networks. Ask the store separately about hardware-wallet stock, prices, returns and warranty. This guide does not promise a price or rank device security.
Setup: follow the instructions for your device
1. Purchase and authenticity checks
- Buy from the manufacturer or a verifiable seller. Keep proof of purchase and confirm support terms.
- Follow the manufacturer's authenticity checks; intact packaging alone is not proof.
- Stop if a device has a preset PIN, includes a prefilled recovery phrase or asks you to upload a backup. Verify with official support.
2. First boot
- Get the required software and model instructions through official channels and use a trusted device.
- When creating a new wallet, initialize and back it up yourself. Do not use a phrase supplied by a seller or support agent.
- Distinguish creating a new wallet from recovering an existing one. Check official instructions if a screen is unclear.
3. Record and check the backup
- Record the actual format, word count and order produced by your device. Not every model uses 24 words. Trezor's official guide describes model-dependent BIP39 and SLIP39 formats.
- Check your record using the official backup-check procedure. Store copies or shares according to the chosen scheme; do not arbitrarily split a word list.
- Keep backups away from public access, photo syncing and ordinary online notes. Do not give them to staff, support agents or websites. Read Trezor's backup guidance.
4. PIN and optional passphrase
Follow your device's PIN format and length requirements rather than copying another model's numbers. A PIN is not a wallet backup.
A passphrase is an optional advanced feature in some wallets. It is not necessarily a fixed “25th word” or a security guarantee. Understand the device's entry and recovery rules first: a different entry can open a different wallet, and losing it can prevent access to the associated assets. Read Trezor's passphrase explanation, then follow your own manufacturer's backup and verification instructions.
5. Small receiving and sending tests
- Check the asset, network, receiving address and any platform minimum deposit.
- Test receipt with a small amount you can afford to lose, accounting separately for network fees. Do not copy a fixed BTC quantity.
- After confirmation, practise checking the device display and sending another small test. Do not sign a transaction you do not understand.
- Keep the TXID and check the result. A successful test does not remove the risks of later transactions.
Common mistakes
- Checking only the phone or computer rather than the transaction shown on the device.
- Photographing or cloud-uploading a recovery phrase, or sharing it with a setup service.
- Enabling a passphrase without a backup or checking that it reopens the same wallet.
- Wiping the only working device before verifying the backup.
Ongoing maintenance
- Check backup completeness, security and usability as needed with the manufacturer's tools. Do not enter a recovery phrase on an untrusted device to meet an arbitrary six-month schedule.
- Obtain firmware and software updates through official channels and read the backup requirements first.
- Plan storage around your needs, operating skills and risk tolerance. This guide does not prescribe hot- and cold-wallet percentages.
- If a key or backup may be exposed, read the compromised-wallet guide. A hardware wallet cannot repair an exposed backup.
