If you are selecting a hardware crypto wallet and cannot decide between Trezor wallet vs Ledger, read this article to make your choice. We’ll highlight the significant characteristics of both, compare them from different points of view and help you finally make your decision.
Let’s start!
Trezor Wallet Overview
Trezor was the first hardware crypto wallet on the market, created in 2013 by SatoshiLabs. The device covers more than 220 countries and supports more than 1,500 cryptocurrencies.
Here are Trezor’s major characteristics:
Number of supported cryptocurrencies: 1,649
Cost: from $68 for Trezor Model One to $217 for Trezor Model T
Device size:
- Trezor Model One - 60 mm x 30 mm x 6 mm, 12 g
- Trezor Model T - 64 mm x 39 mm x 10 mm, 22 g (bigger size makes it touchscreen more convenient to use)
Mobile app: unavailable
Ledger Wallet Overview
Ledger was invented by the Ledger company in 2014. The company is developing as a startup with new investment rounds. In 2021, it attracted $380 million at round C, with a company evaluation of $1.5 billion.
Check out the key parameters of Ledger:
Number of supported cryptocurrencies: 1,800+
Cost: from $59 for Ledger Nano S to $119 for Ledger Nano X
Device size:
- Nano S - 56.95 mm × 17.4 mm × 9.1 mm, 16 g
- Nano X - 72 mm × 18.6 mm × 11.75 mm, 34 g
Mobile app: Android and iOS
Differences and Similarities Between Trezor vs Ledger
In this part, we’ll investigate what device is better, Ledger vs Trezor, based on their major characteristics. Now, let’s compare the basic version of both devices, Nano Ledger S vs Trezor Model One.
Trezor Wallet vs Ledger Wallet: Appearance
With a USB cable connection, both devices look pretty well. However, the steel design of Ledger is more stylish than a plastic Trezor case.
Although all devices feature displays, only Trezor Model T has a touchscreen, which allows for more convenient coin management and app installation.
Trezor vs Ledger Wallet: Currencies
The variety of currencies supported by Trezor is poorer than those suggested by Ledger. With Trezor supporting a bit more than 1,600 currencies, the array of currencies supported by Ledger is more than 1,800.
Among popular coins, Trezor Model One doesn’t support:
- ADA - Cardano
- XRP - Ripple
- XMR - Monero
- EOS - Eos
- XTZ - Tezos
- BNB - Binance Chain
Neither of Trezor devices operates with:
- UNI - Uniswap
- AVAX - Avalanche
- GRT - Graph Token
- YFT - yearn.finance
- CELO - Celo
- OCEAN - Ocean Token
- REEF - Reef Finance
When it comes to the number of currencies supported by both devices, it’s important to mention that if you plan to manage multiple coins on one device, be aware of the memory required for appropriate apps. Some crypto wallet users claim that Trezor Model T is the best option for multiple coins thanks to its big touchscreen and convenient app installation process.
Ledger Wallet vs Trezor: Price
Although both wallets operate with two target audience segments, mass-market and premium, they position their devices likewise, with Ledger being a bit more affordable than Trezor.
Which is a Safer Wallet Between Ledger and Trezor?
Generally, both devices are highly secure and protect the user from software attacks and physical hardware breaches. They keep private keys only on the device and prevent phishing attacks by letting users know about all the signing attempts.
However, after Ledger’s user database was hijacked in 2020, some people were afraid of purchasing a Ledger device because they associated the database hacking with private keys theft. But it’s not the same. A hijacked database means that an intruder got access to the email database of Ledger customers but not to their private keys.
The only possible option to hack Ledger and Trezor is when you use any electronic devices to keep your security words required for authorization. Please don’t take a picture of them. Please don’t share them with anyone via any electronic mediums like messengers. Don’t even type them on your laptop. Remember that your computer or phone could be hacked, unlike Trezor and Ledger.
Trezor vs Ledger: 2024’s Best Hardware Wallets
Selecting Ledger Nano vs Trezor, users have been divided into two camps. However, to deliver the whole picture, let’s compare Nano Ledger S vs Trezor Model One.
Let’s make a conclusion regarding Nano Ledger S vs Trezor Model One. While most of the parameters are very similar on both devices, Ledger Nano S is more affordable and convenient thanks to its Android mobile app and Bluetooth connectivity and more secure thanks to the double chip base. Trezor Model One allows for custom firmware and claims about their water resistance. Moreover, without a Bluetooth model, it reduces the risk of remote attacks.
Now, let’s summarize the comparison of Trezor vs Ledger Nano based on their more advanced versions, T and X.
When you compare Trezor vs Ledger wallet taking their advanced models, T and X, the major advantage of the former is its convenience thanks to a large touchscreen. It allows for more convenient managing of your commands and installing more apps to differentiate the coins on your device. However, Ledger Nano X addresses this issue with the help of an app available for both iOS and Android. Trezor Model T doesn’t have any. As for other parameters, they are pretty the same, with a few benefits on behalf of Ledger Nano X.
And the last question that remains is when to choose between the more affordable version of the crypto wallet and a more advanced one, how to select. Here, the appearance of both advanced devices, Trezor Model T and Ledger Nano X, is better than the more affordable versions. In the case of the Trezor Model T, this device is more convenient to use than Model One, thanks to its large touchscreen. Likewise, Ledger Nano X is compatible with iOS and Android, whereas Nano S has only an Android app. Moreover, suppose you’ve got used to keeping multiple coins on one device. In that case, the users recommend Trezor Model T because its touchscreen allows for more comfortable installation of various apps required for different coin storage.
Conclusion
If you are looking for a more convenient-in-use and affordable device, Ledger Nano is the best option for use. In contrast, Trezor Model T has a big touchscreen to manage your wallet parameters directly from the device.
FAQ
Who Should Use Trezor vs. Ledger?
If you are a crypto owner, purchasing the cold crypto wallet, Trezor or Ledger, can be an excellent option. Choosing Trezor vs Ledger, use No.1 if you need a touchscreen and No.2 if you are looking for a more affordable and convenient-in-use device.
Does Ledger or Trezor Support More Coins?
Ledger supports more than 1,800 coins, whereas Trezor assists with 1,649 coins.
Which Wallet Is More Suitable for Holding Bitcoin?
Both wallets are among the best crypto wallets for holding bitcoin. So, you can choose Trezor if you need a crypto wallet with a touchscreen or Ledger if you’ve used to have a mobile app or are looking for more affordable options.
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