A method for creating a secure channel for updating a digital currency hardware wallet application: upon receiving a security operation execution instruction, obtaining a public key and a certificate number of a host computer from within the security operation execution instruction, obtaining a corresponding certificate of the host computer according to the certificate number, and verifying the certificate of the host computer using the public key of the host computer; when receiving a verification instruction, obtaining the public key of the host computer according to a key version number and a key ID in the verification instruction, generating a receipt according to a temporary public key of the host computer, the public key of the host computer and a generated session key which are in the verification instruction, and sending the receipt to the upper computer; upon receiving the application update instruction, using the session key to decrypt application data ciphertext in the application update instruction, and updating the saved application data using the successfully decrypted application data. By using the digital currency hardware wallet of the present invention, it is possible to prevent the wallet from being attacked, stolen or tampered with, mutual verification of communication parties may be carried out, and encryption and verification are carried out to ensure data privacy and integrity.