Cryptocurrency staking is one of the best opportunities for generating passive income with crypto assets. With the rise of Proof-of-Stake (PoS) blockchains over the past couple of years, virtually all newer cryptocurrencies allow users to earn rewards in exchange for providing protocol-level security.
However, if not handled with care, mindlessly connecting to various staking services with a hot wallet can lead to your assets being compromised and, in the worst-case scenario, to a permanent loss of funds. Hardware wallets greatly enhance the security of your crypto assets during staking, ensuring peace of mind for stakers.
In this article, we are going to examine the best hardware wallets for cold staking available in the market right now.
Hardware wallets manufactured by Ledger are widely regarded as the safest and most reliable way to store Bitcoin and other crypto assets. As long as the seed phrase storage is handled with care, there’s no way that any malicious actor or software could endanger the safety of your crypto.
Buy a Ledger Hardware Wallet
List of the best hardware wallets for staking in 2024:
- Ledger Nano X – The best hardware wallet for staking overall
- Ledger Nano S Plus – The best value option for cold staking
- Trezor Model T – The best alternative to Ledger
- CoolWallet Pro – Extra slim hardware device with a cold/hot wallet switch
- SafePal S1 Pro – A large color screen for seamless crypto management
The 5 best hardware wallets for staking: The top cold staking options for 2024
In the following sections, we will focus on 5 hardware wallets that support crypto staking as part of their first-party software offering. In other words, we are focusing on the best wallets that support crypto staking natively and don’t rely on external dApps or wallets to provide the staking functionality. As you’d probably expect, there’s a significant overlap between the best crypto wallets and the best wallet for cold staking.
1. Ledger Nano X – The best hardware wallet for staking overall
Ledger Nano X is the flagship offering of the leading cryptocurrency wallet manufacturer, Ledger. Nano X supports more than 5,000 coins and tokens in total, boasts support for non-fungible tokens (NFTs), and can be connected to desktop and mobile devices via USB or Bluetooth. It’s also considered one of the leading wallets for MetaMask integration, making it a perfect choice for DeFi users.
Users can manage their crypto assets secured by the Nano X via the Ledger Live software platform, which allows users to send, receive, and manage digital assets securely. Ledger Live comes preloaded with staking solutions for a variety of cryptocurrencies, including Ethereum, Solana, and Cardano.
If you are interested in Ethereum staking, you have two main options to consider. You can use the Kiln service, one of the best crypto staking services, or Lido, the most popular liquid staking solution for the Ethereum protocol.
Buy Ledger Nano X
2. Ledger Nano S Plus – The best value option for cold staking
Ledger Nano S Plus is very similar to the Nano X, but is considerably cheaper than its more expensive counterpart. The main difference between the two devices is the lack of Bluetooth connectivity in the Nano S Plus and the slightly smaller storage capacity. Other than that, the S Plus is virtually the same as the Nano X, including when it comes to the support for Ledger Recover, a new service that allows users to store their seed phrase in a cloud.
The Nano S Plus allows users to stake countless different assets, including ETH, SOL, ADA, DOT, NEAR, and many more. You can check the official page for the full list of cryptos you can stake with Ledger.
At nearly half the cost of the Nano X, the S Plus is certainly a value option for users who wish to stake their crypto assets securely. It might not come with all the bells and whistles of more expensive models, but the S Plus doesn’t lack any features when it comes to staking and managing your crypto securely.
Buy Ledger Nano S Plus
3. Trezor Model T – The best alternative to Ledger
Trezor Model T is the flagship model in Trezor’s hardware wallet lineup. It comes equipped with a color screen, a wide range of security features, support for NFTs, and, of course, cold staking support. If you are not into Ledger for whatever reason, then Trezor is probably your best bet.
Trezor Model T is particularly good for Cardano users, allowing them to stake ADA across several Trezor stake pools. This makes it one of the top Cardano hardware wallets. Other cryptocurrencies are supported as well, like Solana and Near, but there’s a notable omission for Ethereum (support for which is expected to roll out soon).
Users can stake cryptocurrencies via the Trezor Suite app, which can be used to send, receive, and manage crypto. Trezor wallets can be connected to external wallets like MetaMask as well, which greatly expands the staking opportunities and allows users to connect to various DeFi services.
Buy Trezor Model T
4. CoolWallet Pro – Extra slim hardware device with a cold/hot wallet switch
CoolWallet Pro is a slim and modern cryptocurrency hardware wallet that resembles a credit card. However, despite the small footprint and lightweight design, it boasts a complete security stack headlined by an upgraded chipset with a CC EAL6+ rating.
The assets secured by CoolWallet Pro can be managed by the CoolWallet App. The app boasts a unique feature that allows users to quickly switch between the cold wallet and the hot wallet. This can come in especially handy when you are often connecting to various crypto services – you can leave a part of your funds in the cold wallet for extra security and transfer a smaller part into the hot wallet for extra convenience.
The CoolWallet Pro supports various Proof-of-Stake (PoS) coins, including Ethereum, Cardano, Tron, Tezor, Solana, and Cosmos. The rewards are automatically credited to your wallet.
Buy CoolWallet Pro
5. SafePal S1 Pro – A large color screen for seamless crypto management
SafePal S1 Pro is one of the most user-friendly devices on our list. It boasts a large color screen and a D-pad for intuitive navigation. At $89, it’s also one of the more affordable options, especially considering its array of features.
The S1 Pro is an especially powerful device if you are planning to participate in the decentralized finance landscape. It offers easy access to various mining pools, allowing you to stake your assets and earn staking rewards without any third-party apps. The connection is handled natively by the SafePal Wallet, which is the default software platform used by the SafePal S1 Pro.
The wallet ships with native support for NFTs and allows users to manage different software and hardware wallets from within SafePal Wallet. In addition, crypto assets across different chains can be managed from this unified platform as well.
Buy SafePal S1 Pro
The bottom line
Using any of the options listed above should provide you with a degree of flexibility and security that no hot wallet solution can provide. If you handle your seed phrase properly – like securing it with a metal crypto wallet – then you really have nothing to worry about when staking crypto.
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