Ledger Vs Trezor: Which Hardware Wallet Should You Use?

Choosing a hardware wallet is difficult when Ledger and Trezor are your only options. These two are leading hardware wallet brands available for digital assets. Both have outstanding features and top-notch security. So, which of the two should you go for when shopping for a cold wallet? Here’s a Ledger vs Trezor comparison article to help you out. 

Overview

There’s a lot to consider when deciding between Ledger and Trezor wallets. Factors like price, physical design, model comparison, compatibility, security features and customer support are all important aspects to analyze before making the final decision. Let’s explain these factors, and point out the wallet that does best under each.

Ledger

Ledger wallet is a brand name for one of the most popular hardware cryptocurrency wallets. The brand has several models including Ledger Nano S Plus, Ledger Nano X and Ledger Stax. Here are some pros and cons of using this hardware wallet.

Pros

• Most secure hardware wallet
• Allows users to exchange and even grow their cryptocurrency holdings and NFTs
• More affordable than most brands

Cons

• Some models do not support buying cryptocurrencies
• Certain models have very limited storage

Trezor

Trezor wallet is another leading cold storage wallet for digital assets. Cold storage wallets are the same as hardware wallets. Like Ledger wallet, Trezor is also a brand name. Under the brand, users will find two models, the Trezor Model T and the Trezor Model One. Let’s explore some of the pros and cons associated with Trezor Wallets.

Pros

• Allows users to buy, sell, receive, and monitor their crypto assets
• Supports a wide range of tokens
• Allows users to purchase crypto using fiat

Cons

• It is more expensive than other brands
• Has a bulkier design than other brands

Price Comparison

Winner: Trezor

Ledger and Trezor hardware wallets have a significant price difference. The most affordable of these two models is Trezor. The most recent Trezor model, Trezor T, costs about  $219.00, while the older model, Trezor One, goes for $69. 

On the other hand, Ledger’s newest model, Ledger Stax, is worth $279. The other two models, Ledger Nano X and Ledger Nano S Plus, cost $149 and $79, respectively.

Trezor vs Ledger Wallet: Model Comparison

Winner: Ledger Stax

Trezor and Ledger wallets both have several models. For each brand, one of the models is an advancement of the other. These advancements may impact the accessibility and use of wallets, but they hardly affect security. Let’s compare each brand’s model to the others to see what benefits users get.

Trezor One vs Ledger Nano S Plus

Trezor Model One and Ledger Nano S Plus are the flagship models for Trezor and Ledger wallets. These crypto wallets were the pioneers, so some of their features may be less advanced than later models. Still, these wallets have some of the best security features that future models have borrowed. However, their significant downside is they may have less advanced interfaces and storage. 

The most outstanding trait of the Ledger Nano S Plus is its affordability. This wallet costs about $79, which is lower than most cold storage wallets. Besides, its price does not affect its features. Besides, its price does not affect its features.

Even at this affordable price, the Ledger Nano S Plus still has high-level security and supports at least 500 currencies. However, its major shortcoming is that it misses out on many advanced physical features of newer models. For instance, it only has a static screen and lacks Bluetooth connection and wireless charging.

On the flip side, Trezor Model One is popular for the wide range of assets it supports. The wallet grants access to over 1,000 crypto assets and allows users to purchase crypto using fiat. However, this wallet does not support iOS, which is one of its most significant flaws.

Here’s a feature-by-feature breakdown for each wallet.

Ledger Stax vs Trezor T

Ledger Stax and Trezor model T are the more recent models for each brand. These advanced models resolved some of the issues that their predecessors had. They, for instance, have more advanced designs and are simpler and beginner-friendly. 

An excellent example is the Trezor Model T. This model is known for simplifying transactions and managing crypto assets. The wallet comes with a touchscreen interface, over 1,000 cryptocurrencies, and an easy set-up process that beginners would appreciate. On the flip side, though, the wallet is more expensive than its past versions and considerably bulkier.

On the other hand, Ledger Stax is known for its sleeker design. The wallet comes in a comfortable palm-size design, touchscreen capabilities and wireless charging. These characteristics make the wallet easier to carry and operate. Additionally, it can store NFTs. Ledger Stax is also user-friendly and supports at least 500 coins from the Ledger Live APPs and over 5000 from partnering wallets. However, its major flaw is that it is significantly more expensive.

Here’s a feature-by-feature breakdown for each wallet. 

Compatibility Comparison

Winner: Ledger

Crypto hardware wallets need to be compatible with several devices, operating systems, hot wallets, and other technologies that may make them more efficient. When it comes to Leder and Trezor, both wallets score highly in compatibility.

Trezor suite wallets are compatible with multiple operating systems, including Mac OS, Windows, and Linux. These wallets also support unlimited software wallets, a browser application, and Bluetooth connectivity. However, Trezor wallets don’t have a mobile app, though they will soon release an Android application.

Conversely, Ledger wallets support Mac OS, Windows, and Linux. They are compatible with multiple digital wallets and can connect to Bluetooth networks. Their most significant benefit, though, is that they have Android and iOS mobile apps for all models, aside from the Ledger Nano S Plus, which supports only the Android application.

Supported Coins

Winner: Ledger

Across the board, Trezor and Ledger Wallets support over 3,000 cryptocurrencies. When broken down, however, it is easy to spot that the Ledger wallet has a wider variety of coins. Let’s analyze the cryptocurrencies that each wallet supports. 

Wallets and Cryptocurrencies Supported on Ledger

Ledger wallets support at least 50 other crypto wallets. This includes wallets Electrum, Mycrypto, MyEtherWallet, Electron Cash, PolkaDot JS, Binance, and Cosmostation. Such a wide range of partner wallets ensures that Ledger devices can access some of the most in-demand coins. Here’s a list of the ten most popular coins you can access using a Ledger wallet.

• Bitcoin (BTC)
• Ethereum (ETH)
• Polkadot (DOT)
• Binance Coin (BNB)
• Tether USD (TRC20) (USDT)
• Monero (XMR)
• Cardano (ADA)
• Stellar (XLM)
• Dogecoin (DOGE)
• Ripple (XRP)

Wallets and Cryptocurrencies Supported on Trezor

Trezor also supports several cryptocurrencies. However, the Trezor One model has a limited range of coins. For instance, the model does not support some of the most popular altcoins like Monero, Cardano, and Ripple, which are all available on both Ledger models. Still, the brand has a ton of coins to explore. Here’s a breakdown of the ten most popular cryptocurrencies supported on Trezor.

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether USD (TRC20) (USDT)
• Binance Coin (BNB)
• USD Coin (USDC)
• Binance USD (BUSD)
• Ripple (XRP)
• Dogecoin (DOGE)
• Cardano (ADA)
• Polygon (MATIC)

You can find more information in this video here.

Staking Options

Winner: Ledger

Staking crypto on a hardware wallet comes with some benefits. Unlike staking on an exchange, where investors have to pay a fee for staking, hardware wallets offer taking services at no additional cost. This is why Ledger and Trezor are some of the best staking wallets to explore.

Ledger Wallet has a broader range of coins to stake. Here’s a list of the coins you can stake in the wallet.

• Ethereum (ETH)
• Terra (LUNA)
• Tron (TRON)
• Cardano (ADA
• Nem (XEM)
• Cronos (CRO)
• Cosmos (ATOM)
• Internet Computer (ICP)
• Elrond (EGLD)
• Algorand(ALGO)
• Neo (NEO)
• Tezzos (XTZ)
• EOS (EOS)

On the other hand, Trezor suite supports staking for fewer but rare crypto assets. Here’s a list of crypto assets you can stake on Trezor.

• Algorand 
• Solana 
• Cosmos
• Cardano
• Ontology
• Tezos
• Vechain 

Staking rewards depend on the platform you choose to stake your crypto on. These rewards have nothing to do with the hardware wallet except that different wallets give access to various platforms where you can stake.

Security

Another dominant feature to analyze between Trezor and Ledger is security. Both wallets are known to be very secure. However, slight variations may seem favorable depending on what a specific user wants.

Trezor has a very robust security system. One of the wallet’s most outstanding security features is its Shamir backup setting. This security protocol protects your seed phrase from destruction and theft. The Trezor wallet also applies the Bitcoin Improvement Proposals, a high-level security feature that enables users to add an extra password phrase to the existing seed phrase. 

Learn more about Shamir Backup here.

On the other hand, Ledger wallets have Bankrate Secure Elements (SE). These are secondary chips that ensure the wallet is secure from attacks. These wallets also use BIP39 passphrases, and unlike Trezor suite open-source wallets, they have closed-source firmware, meaning their programs are not accessible to third parties.

Ease of Use

Winner: Ledger

Which hardware wallet is easier to use, between Ledger and Trezor? Both wallets have their strengths, but Ledger takes the lead. While the latest Trezor model has a color touchscreen display that makes navigation more manageable, it does not have a mobile app. This means users must constantly be around a PC or desktop to use the wallet, making it cumbersome for most users. 

On the other side of the scope, Ledger’s latest model, the Stax, has a colored touchscreen display and a mobile application for Android and iOS users. Additionally, Ledger Stax has other advanced features like a longer-lasting battery, wireless charging, a palm-sized design, and a sleek surface that makes it easily portable.

FAQs

1. Which should I choose: Trezor or Ledger?

The choice of a hardware wallet depends mainly on your needs as a user. Ledger wallets have more security features and are regulated by the ANSII. They also have a sleeker design and more cryptocurrency options for staking. On the other hand, Trezor wallets have access to rare coins and connect to software like Exodus wallet which offers impressive returns.

2. Ledger vs Trezor: Which is safer?

Ledger wallets are safer than Trezor ones. These wallets are regulated by the ANSII. They also have closed-source firmware that prevents third parties from accessing their programming. Additionally, Ledger wallets have secondary Bankrate secure element chips for an extra layer of protection. The features are absent in Trezor wallets.

3. Trezor vs Ledger: Which Is cheaper?

The Trezor Model One wallet costs $69, while the Trezor Model T costs $219. Ledger wallets are relatively cheaper, with the Ledger Nano S Plus going for $79 and the Ledger Stax retailing at $279.

4. Trezor vs Ledger supported coins

Combines both Trezor and Ledger wallets support more than 3,000 coins. However, the Ledger Nano S Plus and Nano X have a wider range of coins as compared to those supported by Trezor devices. With the Trezor One not supporting coins like Monero, Cardano, Tezos, BNB, and Eos.