0
$0.00
0 items
Imagine you’ve just bought your first cryptocurrency, and you’re excited to start building your digital fortune. But then, a thought strikes you—how are you going to keep your crypto safe? You’ve probably heard stories about hacks, scams, or people losing their crypto forever because they didn’t store it securely. This is where hardware wallets like Tangem, Ledger, and Cypherock come in.
Hardware wallets are physical devices designed to keep your cryptocurrency safe from hackers and online threats. Choosing the right wallet is one of the most important decisions for any crypto investor, whether you’re just starting out or have been holding for a while. A good wallet can protect your assets, give you peace of mind, and even make managing your crypto easier. On the other hand, a poorly chosen wallet could leave your investments vulnerable.
In this article, we’re going to compare three popular hardware wallets—Tangem, Ledger, and Cypherock. You’ll learn how each wallet works, their strengths and weaknesses, and which one is best for your needs. Let’s dive in!
A hardware wallet is a physical device that stores your cryptocurrency’s private keys offline. Think of it like a digital safe where your keys—the secret codes that let you access your crypto—are stored securely. These wallets don’t actually hold your cryptocurrency. Your coins live on the blockchain, a giant public ledger, and your private keys are what allow you to unlock and manage them.
Because a hardware wallet is offline, it protects your private keys from hackers, malware, and online attacks. Even if someone hacks your computer or smartphone, they won’t be able to access your crypto without the hardware wallet. This makes it one of the safest ways to store digital assets.
Choosing the right hardware wallet is critical because not all wallets are created equal. A good wallet keeps your crypto secure, easy to access, and simple to manage. But the wrong wallet could put your investments at risk.
For example, some wallets require you to keep a paper backup of a "seed phrase," which could get lost, stolen, or damaged. Others might have features like multi-device recovery or even crypto inheritance options. Picking a wallet that matches your needs can save you from stress and potential losses in the future.
Tangem’s hardware architecture is built around simplicity and portability. It looks like a credit card and uses EAL6+ secure elements to keep your private keys safe. These secure elements are the same as those found in bank cards, offering strong protection. Tangem uses NFC (Near-Field Communication) to interact with your smartphone. You simply tap the card on your phone to sign transactions or manage your crypto.
However, Tangem lacks a trusted display or buttons on the card itself. This means you cannot directly verify transaction details on the card, making you reliant on its mobile app. While it’s great for users looking for a lightweight, portable wallet, its lack of on-device interaction may not satisfy those prioritizing advanced security.
Ledger wallets feature a robust dual-chip architecture. They combine a secure element (EAL5+ or EAL6+, depending on the model) with an STM32 microcontroller. This ensures your private keys are securely isolated, even during transaction signing. The device also runs on BOLOS (Blockchain Open Ledger Operating System), Ledger’s proprietary operating system designed for high-security environments.
Ledger wallets include a small display and two physical buttons. This allows you to review transaction details and confirm actions directly on the device, ensuring offline security. While highly secure, Ledger relies on a centralized storage model for private keys, meaning the keys are stored entirely within the device.
Cypherock redefines hardware wallet architecture with its multi-component design. It includes the X1 Vault, the main device, and four NFC-enabled X1 Cards. These cards and the X1 Vault use EAL6+ secure elements, ensuring top-level security.
Instead of storing your private key in one place, Cypherock splits it into five parts using Shamir Secret Sharing. You only need two of the five parts (e.g., one X1 Card and the X1 Vault) to access your funds, making it highly resistant to theft or physical attacks.
The X1 Vault has an on-device OLED display and a 5-way joystick, allowing you to securely verify and approve transactions offline. This decentralized approach ensures that even if two or even three components are lost or stolen, your private keys remain safe.
Cypherock’s design also supports advanced use cases like crypto inheritance, making it an ideal solution for long-term security-conscious investors.
Tangem: Tangem eliminates the need for a traditional seed phrase backup. Instead, you’re given two or three backup cards. These cards are identical and can be used interchangeably to access your wallet. However, if all cards are lost or damaged, you lose access to your funds. There’s no way to recover your assets without the cards.
Ledger: Ledger requires you to back up your wallet using a 24-word seed phrase during setup. This seed phrase is the only way to recover your wallet if the device is lost or damaged. While this method is secure, it introduces a single point of failure, if the seed phrase is lost or stolen, your crypto could be at risk.
Cypherock: Cypherock removes the risk of seed phrase vulnerabilities entirely. It splits your private key into five parts using Shamir Secret Sharing and stores them across the X1 Vault and four X1 Cards.
You only need any two parts to recover your wallet, ensuring that even if remaining two or even three components are lost, your funds remain secure. This makes it the most robust option for protecting against seed phrase-related risks.
Tangem: Transaction signing is done on the Tangem card itself, but since the card lacks a display or buttons, you cannot visually verify transaction details on the card. Instead, you must rely on the Tangem mobile app, which increases the risk of blind signing (approving transactions without verifying them independently).
Ledger: Ledger wallets allow you to sign transactions securely on the device. You can view the transaction details on the on-device display and confirm them using the two physical buttons. This ensures that transactions are verified offline, reducing the risk of phishing or app-based tampering.
Cypherock: Cypherock offers fully offline transaction signing on the X1 Vault. The device’s OLED display shows all transaction details, and the 5-way joystick allows you to verify and confirm transactions securely with the help of any X1 cards(which is never connected to internet). This ensures trustless, secure signing, even if the connected device (like your computer) is compromised.
Entropy generation is crucial for creating secure private keys. It’s like a digital coin flip, ensuring that keys are random and secure. Let’s see how it works:
Tangem: Tangem uses a True Random Number Generator (TRNG) within its secure element for entropy generation. This randomness is based on the hardware, ensuring strong private keys. However, it relies on a single entropy source, which can be a single point of failure if the hardware has flaws.
Ledger: Ledger’s secure elements also utilize a TRNG for entropy generation. The generated randomness is further processed to create private keys. Like Tangem, it uses a single-source model, which may carry similar risks of dependency on one component.
Cypherock: Cypherock employs a dual-source entropy generation model, combining random numbers from the STM32 microcontroller and the ATECC608 secure element. These two sources are merged using an XOR operation, ensuring added randomness and eliminating any single point of failure. This innovative approach significantly enhances key generation security.
Tangem: Tangem does not offer any dedicated inheritance solution. If a user passes away, heirs would need access to the backup cards and the PIN code. Without these, recovering the funds is impossible.
Ledger: Ledger relies on its seed phrase backup for inheritance. To ensure crypto inheritance, users must share their seed phrase with trusted family members or include it in a legal will. However, this process is manual and poses a risk if the seed phrase falls into the wrong hands.
Cypherock: Cypherock provides built-in inheritance planning. You can distribute the X1 Cards across different heirs, each holding part of the private key. When required, heirs can combine the parts to access the wallet. This ensures a seamless inheritance process without exposing the full private key or seed phrase, making it one of the most secure and user-friendly inheritance solutions.
Tangem: Tangem cards do not have a display or physical buttons. This makes the wallet highly portable but introduces a significant drawback: you cannot visually verify transaction details on the card itself. Instead, you must rely on the Tangem mobile app to confirm transactions. This reliance increases the risk of blind signing, where users approve transactions without independently verifying them.
Ledger: Ledger wallets come equipped with a small display and two buttons. These allow you to review transaction details like the amount and recipient address directly on the device. After verifying, you use the buttons to confirm the transaction. This offline verification adds an important layer of security, ensuring you don’t blindly approve transactions.
Cypherock: The Cypherock X1 Vault has an OLED display and a 5-way joystick. The display shows all transaction details for offline verification, and the joystick provides easy navigation and confirmation. Compared to Ledger’s two-button system, Cypherock’s joystick enhances usability, making it more intuitive for beginners and convenient for advanced users.
Tangem: The Tangem mobile app is simple and user-friendly. It supports features like managing your assets, buying and swapping crypto, and authenticating your cards. However, since Tangem lacks a display and buttons, the app becomes the primary tool for transaction management. This reliance on the app raises security concerns if the phone or app is compromised.
Ledger: Ledger uses the Ledger Live app, available on both desktop and mobile. It allows you to manage your crypto, install apps for supported coins, and interact with DeFi and NFTs through WalletConnect. The app has an easy-to-use interface but is limited by Ledger devices' memory, which only supports a certain number of coin apps at a time.
Cypherock: Cypherock uses the CySync app for desktop (mobile support is coming soon). The app is intuitive and offers portfolio aggregation, allowing you to manage multiple wallets in one place. For example, if you own multiple wallets—personal, business, or DeFi investments—you can consolidate and manage them through Cypherock.
This makes it a powerful tool for users who want simplified asset tracking. Since transaction signing happens on the X1 Vault, the app doesn’t act as the sole point of trust, reducing security risks.
Tangem takes a mixed approach when it comes to transparency. Its mobile app is open source, meaning anyone can inspect the code to verify its security and functionality. However, the firmware on Tangem cards is closed source, which limits user or community audits. Since the firmware cannot be reviewed independently, users must fully trust Tangem’s claims about its security.
Additionally, the cards are designed to be non-upgradable, meaning the firmware installed at the factory cannot be updated later. While this prevents firmware-related attacks, it also limits flexibility for future improvements or added features.
Ledger operates on BOLOS (Blockchain Open Ledger Operating System), a proprietary operating system designed to isolate cryptocurrency applications. While parts of Ledger’s cryptography library and specifications are open source, the firmware running on its devices is closed source.
This lack of full transparency has led to concerns, especially following the Ledger Recover controversy, where users discovered that firmware updates could enable seed phrase extraction. Although Ledger has a long-standing reputation for security, the inability to independently audit the full code raises questions about trust and control.
Cypherock stands out with its commitment to transparency. Both the firmware for the X1 Vault and the CySync companion app are fully open source and available for public review on GitHub. This allows users, developers, and the community to independently verify the code for vulnerabilities or backdoors.
Additionally, Cypherock’s firmware has been audited by KeyLabs, a trusted cybersecurity firm, and certified as reproducible by WalletScrutiny, meaning users can verify that the firmware running on their device matches the published source code. This level of transparency ensures users can fully trust the device and its operations.
When choosing a hardware wallet, the number and types of cryptocurrencies it supports are crucial. Let’s see how Tangem, Ledger, and Cypherock compare in this area:
Tangem supports 38 networks and and has enough memory to store keys for at least a few thousand tokens. Popular coins like Bitcoin, Ethereum, Binance Coin, and various ERC-20 tokens are well-supported.
However, Tangem has limitations when it comes to future-proofing. Since its firmware cannot be updated, Tangem may not support new cryptographic standards or blockchains in the future.
For example, coins using less common cryptographic curves (like Monero or Solana) may face compatibility issues if not already supported. Tangem's reliance on mobile apps for wallet management means it prioritizes token convenience, but some advanced features, like staking, might be limited.
Ledger is one of the most widely used hardware wallets and supports 5,000+ cryptocurrencies. With the Ledger Live app, you can manage major coins like Bitcoin, Ethereum, Solana, and Cardano, along with thousands of ERC-20 and BEP-20 tokens. Ledger also supports DeFi, NFTs, and staking, making it an excellent choice for traders and hodlers looking to engage with decentralized apps.
However, Ledger devices have memory limitations, allowing only up to 100 cryptocurrency apps to be installed at a time. If you need to manage more coins, you’ll have to uninstall and reinstall apps frequently, which can be inconvenient.
Cypherock supports 10+ blockchains and over 9,000 cryptocurrencies, including major coins like Bitcoin, Ethereum, and Solana. Unlike Ledger, Cypherock has no memory limitations, meaning you can manage as many assets as you like without worrying about installing or uninstalling apps. Cypherock also stands out with multi-wallet support, allowing you to store up to four distinct wallets (each with its own seed phrase) on the same device.
This is especially useful for users managing multiple portfolios, such as personal funds, business accounts, or DeFi investments. While Cypherock currently lacks mobile app support, it’s actively working on expanding its compatibility with wallets like MetaMask and DeFi platforms.
Wallet transferability refers to how easily you can move your crypto wallet between devices or platforms. Let’s compare how Tangem, Ledger, and Cypherock handle this.
Tangem's wallet transferability is limited due to its card-only security model. Since Tangem does not use a traditional seed phrase backup, transferring a wallet to another device or platform isn’t straightforward. Instead, your private keys are tied to the physical Tangem cards. If you lose all the cards, you lose access to your wallet permanently.
Recently, Tangem introduced the option to import a BIP-39 seed phrase during wallet setup. While this improves transferability, it conflicts with their “no seed phrase” philosophy and requires you to trust the app for entering the seed phrase securely. Additionally, exporting wallets to another platform still requires manually transferring crypto assets, leading to a vendor lock-in risk.
Ledger wallets support BIP-39 seed phrases, making wallet transferability straightforward. If you lose your Ledger device, you can use your 24-word seed phrase to restore your wallet on another Ledger device or any BIP-39-compatible wallet (like Cypherock).
However, transferring wallets isn’t entirely seamless. You must manually reinstall apps on the new Ledger device if your original one is lost or damaged. While the seed phrase ensures wallet recovery, it also introduces risks, if your seed phrase is exposed or stolen, your crypto assets are at risk of being compromised.
Cypherock offers the most seamless and secure wallet transferability by removing dependency on traditional seed phrases. Your private key is split into five parts (using Shamir Secret Sharing) and stored across the X1 Vault and four X1 Cards. You only need any two of the five components to recover your wallet.
Unlike Tangem or Ledger, Cypherock allows you to view your seed phrase securely at any time after setup. This feature enables you to transfer your wallet to any other BIP-39-compatible device without requiring an external backup.
You can also store up to four different wallets on the Cypherock X1, making it a versatile option for users with diverse portfolios. If you lose components, simply sync new ones with the remaining parts, and your wallet remains recoverable without stress.
When it comes to keeping your cryptocurrency safe, Tangem, Ledger, and Cypherock each take a different approach. Each wallet offers unique features designed to balance security, usability, and convenience. Understanding these key differences can help you choose the one that fits your needs best.
Tangem is designed as a smart card-based hardware wallet. Its slim, card-like design makes it highly portable. You can simply tap it on your NFC-enabled smartphone to manage your crypto. Tangem eliminates the need for a traditional seed phrase backup by offering users a set of three (or two) Tangem smart cards. One card functions as the primary card, while the others serve as backups (there are no differences between the primary and backup cards). All of them give access to the same wallet (just terminology).
However, it lacks a display and buttons, which means you’ll need to trust its mobile app for transaction verification. This makes it great for beginners who prioritize simplicity but may not be ideal for users concerned about app reliance.
Ledger is one of the most popular hardware wallets, known for its robust security and versatility. It features a dual-chip architecture and a secure element for keeping your private keys safe. Ledger wallets come with a small display and buttons, allowing you to verify and confirm transactions directly on the device. You’ll need to back up your wallet with a 24-word seed phrase, which can be inconvenient if lost or exposed. It’s perfect for crypto traders and hodlers looking for a balance between security and usability.
Cypherock takes security to the next level by eliminating the need to manage a traditional seed phrase. Instead, it uses a decentralized approach by splitting your private keys into five parts, stored across the X1 Vault (the main device) and four X1 Cards.
You only need two parts to access your funds, which means even if you lose three components, your crypto remains safe. Cypherock also offers an on-device display and joystick for offline transaction verification. This makes it an excellent choice for long-term investors and those concerned with inheritance or disaster recovery.
Each wallet has its strengths and weaknesses. Tangem offers unmatched portability, Ledger provides time-tested reliability, and Cypherock delivers advanced decentralized security. Choosing the right one depends on your priorities, whether it’s mobility, versatility, or next-level protection.
Protecting your cryptocurrency is one of the most important steps you can take as an investor. Choosing between Tangem, Ledger, and Cypherock depends on your specific goals and what matters most to you—portability, usability, or advanced security.
If you’re looking for a lightweight and mobile-friendly solution, Tangem is a great choice. Its card-like design makes it easy to carry and use on the go. However, it relies heavily on its mobile app for transaction management and lacks features like a display or buttons for independent verification. It’s a good fit for beginners who prioritize convenience but may fall short for users who want robust security and flexibility.
Ledger strikes a balance between usability and security, offering support for thousands of cryptocurrencies, staking, DeFi, and NFTs. Its small display and buttons let you verify transactions offline, and its compatibility with popular wallets like MetaMask is a big advantage. However, its reliance on a 24-word seed phrase introduces risks, and its closed-source firmware may leave some users questioning transparency.
For those who prioritize maximum security and peace of mind, Cypherock is the clear winner. Its decentralized key storage and built-in inheritance features make it one of the most secure options available. Cypherock is perfect for long-term investors and advanced users who want to manage multiple wallets with ease. While it is slightly more expensive and still awaiting mobile app support, its open-source transparency and innovative approach to crypto security make it an excellent investment for the future.
Ultimately, the best hardware wallet for you depends on your specific needs. Whether you’re looking for portability, versatility, or cutting-edge protection, these wallets cater to different priorities. Take the time to assess your requirements and make an informed decision—because in the world of cryptocurrency, security is everything.
Cypherock stands out with its decentralized key storage. Unlike Tangem and Ledger, it splits private keys into five parts across its X1 Vault and X1 Cards, ensuring your funds remain safe even if multiple components are lost. It also includes features like crypto inheritance planning, multi-wallet management, and full open-source transparency, offering unparalleled security and flexibility.
Tangem’s lack of a display and buttons makes it less secure because users can’t verify transactions directly on the device. This forces reliance on its mobile app, which increases the risk of blind signing. If the app or phone is compromised, hackers could manipulate transactions without the user noticing.
With Tangem, you must have at least one of the physical cards and the PIN to recover your assets. If all cards are lost, recovery is impossible. For Cypherock, you only need any two of the five components (e.g., X1 Vault and an X1 Card) to recover your wallet, making it more resilient against loss.
Yes, Ledger’s closed-source firmware can pose risks as users cannot independently verify the code for vulnerabilities or backdoors. The Ledger Recover controversy raised concerns about whether firmware updates could enable unauthorized access to users’ private keys, making some users question its transparency and trustworthiness.