Trezor vs. Ledger: Which Should You Choose?

Trezor vs Ledger: Wallet Features

Trezor and Ledger are among the best bitcoin wallets and offer similar functionality. While both brands connect via a USB cable, the sleek Ledger devices look like ordinary steel universal serial bus (USB) storage devices. Meanwhile, Trezor devices are a bit lighter, housed in a plastic casing, and have a unique shape. All four devices connect to Linux, Windows, and Mac computers. However, Trezor users can only connect to Android devices, while Ledger also supports iOS phones.

The Trezor models also feature larger screens, making it easier to read the display. The Ledger One has a 128 x 64 pixel organic light-emitting diode (OLED) display compared to the Nano S’s 128 x 32 pixel OLED display. The difference is most noticeable on the higher-end models from both companies. , the Trezor Model T offering a 240 x 240 pixel color liquid crystal (LCD) touchscreen. In contrast, the Ledger Nano X display is a 128×64 pixel OLED.

When it comes to connectivity, mobile users appreciate the Ledger Nano X’s optional Bluetooth capability, a feature not offered by Trezor.

Trezor vs Ledger: Currencies

Trezor and Ledger are similar when it comes to supported currencies, they both allow users to store over 1,800 different coins and tokens. Users can hold popular altcoins, such as Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Stellar (XLM). Whereas Nano S and Nano X Register support the same coins, the Trezor One supports fewer currencies than the Model T.

Notably, there are a few coins that Trezor One does not support, including Cardano (ADA), Ripple (XRP), Monero (XMR), Eos (EOS), Tezos (XTZ) and Binance Chain (BNB). Also, neither Trezor device supports yearn.finance (YFT), in comparison, all of this coin can be stored on both Ledger devices.

Trezor and Ledger users can access cryptocurrency exchanges to buy, sell or trade coins while using their hardware wallets.

Vault Against Registry: Security

Trezor and Ledger are leaders in the security industry, as both companies provide private keys that never leave the devices. Trezor models are built on a single-chip base, while Ledger devices use a dual-chip base. Ledger’s second chip is a bank-grade Secure Element (SE), providing additional security against hardware attacks.

Ledger uses a unique blockchain open ledger operating system (BOLOS) which is an open-source framework. However, unlike Trezor, Ledger Wallets use closed-source firmware, which means it is not available for third parties to review or test for vulnerabilities. The devices also differ as the Trezor One wallet requires users to enter the password via a keyboard, while ledger users enter it on hardware.

All four devices support BIP39 (Bitcoin Improvement Proposals) passwords. But only the Trezor Model T offers Shamir Backup for better private key security. Importantly, Ledger lost some of the public trust after a marketing database breach in 2020 exposed people’s contact details. Similarly, Kraken’s security division could hack Trezor’s hardware wallets when it obtains the physical devices as part of vulnerability testing.

Trezor vs Ledger: Fees

Trezor and Ledger each offer two devices. The Trezor One and Nano S Register costs about the same, $72 for Trezor and $59 for Nano S. Both of these devices have two physical buttons and small OLED displays. The main difference is that the Trezor One supports fewer coins than the Nano S device. Investors holding Ripple (XRP), Monero (XMR), or Cardano (ADA) will prefer the Ledger Nano S.

The high-end devices offered by Trezor and Ledger are very different in terms of price and appearance. The Trezor Model T costs $255, which makes it significantly more expensive than the Ledger Nano X, which costs $149. However, the Trezor Model T has a color touchscreen, which makes it easier to use, while the Ledger Nano S display is small, only slightly larger than the Nano S device.

Crypto investors looking for an inexpensive hardware wallet for cold room will be satisfied with the low-cost Trezor One or Ledger Nano S. But, if you want Bluetooth, go for the Ledger Nano X, while people wanting a touchscreen will prefer the Trezor Model T.

Trezor vs Ledger: ease of use

Trezor and Ledger devices are relatively easy to set up as they follow strict account verification and passphrase setup. Lower-end models have two physical buttons and smaller screens, which can be harder to navigate for people used to touchscreens and larger screens. But, the actual setup and usage is pretty much the same between devices.

The Trezor Model T gets slightly higher marks for ease of use compared to the Ledger Nano X due to the color touchscreen. Although the Nano X is slightly larger than the Nano S, with a little more spacing between the physical buttons, the screen is still harder to read than the Trezor. However, it is easier to connect the Ledger Nano S to a mobile phone via Bluetooth, whereas the Trezor models require a USB connection.

Trezor vs. Ledger: Mobile App

Ledger devices work with the Ledger Live app, available for download for desktop or mobile devices. It allows users to manage accounts, check crypto balances in real time, and send and receive funds. Both Ledger devices must connect to Ledger Live to complete the initial setup.

Although Trezor does not currently have a mobile app, users instead install a Chrome extension or the Trezor Bridge that matches their operating systems. Trezor offers the Trezor Suite as a desktop application, providing access to wallet information and the integrated exchange.

Additionally, both companies support third-party wallet apps, such as MyEtherWallet, MetaMask, and MyCrypto. But only Trezor connects with Exodus, while Kyber Network wallet users must use Ledger. Overall, Trezor offers around 15 third-party wallets compared to 24 offered by Ledger.

final verdict

The secure hardware wallets designed by Trezor and Ledger are user-friendly and safe to store cryptocurrency. Both support thousands of coins and tokens and provide access to cryptocurrency exchanges. However, the Ledger Nano X offers Bluetooth and both Ledger wallets support Ripple, Monero and Theses. Meanwhile, the more expensive Trezor Model T has a touchscreen that’s easier to read and use.

Although a tough call, Ledger is ahead of Trezor due to its lower price, mobile app, iOS connectivity, and support for a few more popular coins and wallets than Trezor. But, if you want to spend the extra money on a touchscreen and Shamir Backup, go for the Trezor Model T.

Frequently Asked Questions

What are Trezor and Ledger?

Trezor and Ledger provide hardware wallets that store cryptocurrency and tokens offline on USB-like physical devices. Cold wallets allow users to have full control over their private keys and assets. Contrary to hot wallets, Trezor and Ledger allow users to view coins without an internet connection or computer. In short, their hardware wallets are like keeping cash in a home safe that is only accessible via passphrases when physically using the safe.

How do Trezor and Ledger work?

Once users receive their Trezor or Ledger hardware wallets, they need to connect to the internet to set up their device and passwords. The Trezor and Ledger Nano S models use a USB cable for internet connection, while the Ledger Nano X also supports Bluetooth. The process is similar for both companies, except that Ledger offers a desktop and mobile app, while Trezor provides a Chrome extension or desktop app.

People transfer their crypto from hot wallets to their hardware wallet, where it stays until they sell it, trade it, or move it to an exchange or digital wallet. Trezor and Ledger allow users to view their portfolio of assets and use an integrated crypto exchange.

Is the Trezor wallet safer than the ledger?

Some users believe that the Trezor wallet is more secure because its firmware is open source, which means users can view the code and report weaknesses. Also, Trezor provides Shamir Backup on the Model T device but does not have Bluetooth. Ledger passphrases are entered on ledger devices and users never need to use a keyboard, preventing keylogging security hacks. In contrast, Ledger One models require users to enter passwords in the web browser. But, an attacker would need your seed and passphrase for a targeted attack.

Who should use Trezor vs Ledger?

The Trezor One and Ledger Nano S are similar in capacity and price, making them a good choice for new users holding different types of cryptocurrencies. But, while expensive, the Trezor Model T has a touchscreen, which makes the process of adding or moving parts much easier than the smaller screens found on Ledger devices and the Trezor Model One.

However, Ledger may be better suited to travelers who want to use their crypto on the go. It connects to iPhones and Android devices, offers optional Bluetooth on the Nano X, and has a mobile app.

Methodology

We compared Trezor to Ledger by looking at devices offered by both companies, including features, supported currencies, and cost. Additionally, we looked at security measures on physical devices and those taken by individual companies. We also took into account the ease of use, the availability of mobile apps and the functionality provided by their wallets and corresponding platforms.