TLDR
This article compares two popular cryptocurrency hardware wallets: Trezor One vs. Ledger Nano S Plus. Both wallets provide secure offline storage for private keys, with over 1,000 supported cryptocurrencies and built-in exchanges.
Differences lie in the details: Ledger’s Nano S Plus supports NFT management and a wider array of cryptocurrencies and boasts a more durable construction. However, Trezor One erases private keys after 16 failed PIN attempts for enhanced security and is more open-source.
Ledger offers mobile functionality via the Ledger Live app, while Trezor is still developing this feature. Each wallet’s ease of use, supported currencies, price, and hardware aspects are further discussed.
For new users, Ledger is suggested due to its lower cost and comprehensive features. However, Trezor may be the better option for users prioritizing security and usability.
Introduction
Using the best hardware wallets is an excellent way to secure your cryptocurrency. These gadgets let you hold and save your private keys offline, giving you complete control over where they are maintained. However, so many hardware wallets are now available that you might need help choosing the right one.
Two of the world’s top producers of crypto hardware wallets are Trezor and Ledger. Both provide over 1,000 coin support, secure hardware wallets, and cryptocurrency exchanges. Unlike web and software crypto wallets, these USB devices safely hold your private key.
Trezor One vs. Ledger Nano S: Which Should You Get? 2024 Update
While Trezor and Ledger Nano S Plus both offer almost the same level of hardware security and are available for approximately the same price, there are a few essential distinctions you should be aware of:
- NFT management tools are included in the Ledger wallet Nano S Plus. The Trezor One gadget only supports signing-related transactions and lacks NFT display functionality.
- Most large-cap crypto assets supported by the Ledger Nano S Plus are not supported by the Trezor One. These include Ripple, Cardano, Monero, Tezos, EOS, and Ontology.
- Compared to the Trezor One, which is composed of plastic, the Ledger Nano S Plus is more durable due to its stainless steel chassis.
- Your device will be wiped by Trezor One after 16 unsuccessful PIN attempts. This threshold is 3 with the Ledger Nano S Plus, which may also be more secure.
- iOS devices are not compatible with the Ledger Nano S Plus. Only web browsers and desktop computers are compatible with the Trezor One device. Mobile functionalities are still under development.
- Trezor is a fully open-source project, although Ledger is primarily open-source.
What Is A Crypto Wallet?
Users can store and use cryptocurrencies using software or hardware device known as a crypto wallet.
There is no real or paper money in a physical wallet with cryptocurrencies. There is no tangible form of cryptocurrency that a user can touch; it only exists on the blockchain.
A cryptocurrency wallet enables users to verify their account balance to see how much cryptocurrency they own.
Trezor vs. Ledger Wallets overview
With support for over a thousand coins, both provide secure storage for your cryptocurrency. A thorough comparison of Ledger and Trezor can assist you in making the best decision for your cryptocurrency needs.
Support for Cryptocurrencies
- Trezor: Nearly 1,649 different coins and tokens are supported by Trezor hardware wallets.
- Ledger: More than 1800 coins and tokens are supported by Ledger hardware wallets.
Ease of Use
- Trezor: The large color touchscreen has a web-based interface that you may use to access your wallet.
- Ledger: Additional requirements exist for installing the app for each cryptocurrency you want to utilize.
Features
- Trezor: Clear display on a large, bright LCD touchscreen. Bluetooth is not supported.
- Ledger: A standard design, like a USB device. Bluetooth connectivity is optional.
Security
- Trezor: Security flaws are common due to the requirement of using a computer to input a PIN.
- Ledger: With the Secure Element chip, Ledger hardware wallets provide more security.
Mobile App
- Trezor: No mobile app.
- Ledger: Ledger Live app.
Trezor vs. Ledger: Wallet Features
Among the finest Bitcoin wallets, Trezor and Ledger have similar features. The sleek Ledger devices resemble standard steel USB storage devices even though both manufacturers connect using a USB wire. In contrast, Trezor wallets’ devices have a plastic case, are a little lighter, and have a distinctive form. Mac, Linux, and Windows computers can all communicate with all four devices. However, Ledger supports iOS smartphones, whereas with Trezor wallets, users can only connect to Android-based devices.
Trezor versions and the Ledger One share display resolutions of 128×64 pixels. The Trezor Model T offers a liquid crystal display (LCD) color touchscreen with a resolution of 240×240 pixels, making the difference more evident in both companies’ premium devices. On the other hand, the Ledger Nano X display has an OLED with 128×64 pixels.
Software Wallet Vs. Hardware Wallet
Software Wallet
A digital software crypto wallet is what the name implies. They come in software applications on a desktop computer, laptop, smartphone, or digital device.
Apps for software wallets may also have extra functions, like staking. Depending on your crypto wallet, you can stake different types of cryptocurrency.
Hardware Wallet
Private keys are physically stored on a hardware cryptocurrency wallet. These ledger wallets are little, portable pieces of hardware that are simple to store securely. They can be connected to your PC or desktop to carry out specific tasks, but they are frequently left completely unconnected from a physical device or a computer.
Hardware wallets effectively become isolated since they retain your private keys offline in cold storage without an internet connection. Because of this significant security benefit of cold wallets, hardware wallets are generally safer than software wallets.
However, hardware cryptocurrency wallets aren’t as common as software wallets because of their higher cost.
Trezor vs. Ledger: Currencies
Trezor and Ledger let users store more than 1,800 coins and tokens, making them comparable in supported currencies. Users can hold well-known alternative currencies. The Trezor One supports fewer currencies than the Model T.
When using their hardware wallets, users of Trezor and Ledger can access built-in cryptocurrency exchanges to purchase, sell, or trade currencies.
Trezor vs. Ledger: Ease of Use
Trezor and Ledger’s devices are relatively easy to set up because they follow strict account verification and passphrase configuration. The lower-end models have two physical buttons and smaller screens, which can be trickier to navigate for people accustomed to touchscreens and larger displays. But, the actual setup and use are the same between the devices.
Due to the color touchscreen, the Trezor Model T earns slightly higher ratings for ease of use over the Ledger Nano X. Although the Nano X is slightly larger than the Nano S, with a bit more spacing between the physical buttons, the touchscreen interface is still more challenging to read than the Trezor. However, connecting the Ledger Nano S Plus to a cell phone via Bluetooth is easier, whereas the Ledger Nano and Trezor models require a USB connection.
Trezor vs. Ledger: Security
Since both businesses offer private keys that never leave the devices, Trezor and Ledger are leaders in the security sector. Ledger devices have a double chip base, while Trezor variants have a single one. A secure element (SE) of bank-grade construction serves as Ledger’s second chip, adding to the system’s defenses against hardware-based attacks.
The open-source platform used by Ledger is called the Blockchain Open Ledger Operating System (BOLOS). In contrast to Trezor hardware wallets, Ledger wallets employ closed-source firmware, meaning no one else can examine it or check for security flaws. Additionally, the Trezor One wallet needs users to enter their password using a keyboard, whereas the Ledger wallet requires users to enter it directly on the device.
Trezor vs. Ledger: Mobile App
The Ledger Live program, which can be downloaded for desktop or mobile devices, is required to use Ledger devices. Users can send and receive money, manage their accounts, and check their cryptocurrency holdings in real-time. The Ledger devices must be connected to Ledger Live to complete the initial setup.
Trezor doesn’t presently have a mobile app. Therefore, users must instead download the appropriate Trezor Bridge or Chrome extension for their operating systems or systems. As a desktop application, Trezor provides the Trezor Suite, allowing users access to portfolio data and the integrated exchange.
Trezor vs. Ledger: Price
Both Trezor and Ledger provide two devices. Cost-wise, the Trezor One and Ledger Nano S Plus are comparable, coming in at $69 and $79, respectively. These two gadgets contain a small OLED front display screen and two physical buttons.
Trezor Model T is significantly more expensive ($219 vs. $149 for Ledger Nano X) than Ledger Nano X. However, the Ledger Nano S display is tiny, just slightly larger than the Nano S gadget, and the Trezor Model T features a color touchscreen, making it easier to use.
More details
The Trezor Model T is a high-quality hardware wallet that offers top-notch security for cryptocurrency investors. Trezor is known for its transparency and trustworthiness. The ability to store 1500+ tokens and Non-Fungible Tokens (NFTs) justifies the premium price of $219. However, some users have reported issues with the MicroSD card slot. Trezor Model T is a solid pick to safeguard crypto despite minor concerns.
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It supports 1400+ crypto assets.
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Touch screen for a user-friendly operation.
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It supports NFTs storage.
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Too expensive when compared to its competitors.
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It has limited mobile compatibility.
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A bulky design that is quite hard to carry around.
More details
The Ledger Nano X is a must-have, secure hardware wallet for cryptocurrency. It features easy mobile pairing, a sleek design, Bluetooth support, and robust security features like a safe chip and two-factor authentication.
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Supports 5500 various cryptocurrencies.
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Private keys are encrypted.
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Desktop and mobile devices are supported.
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Bluetooth enabled.
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Allow 100 apps storage.
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Fairly overpriced against the competition.
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Only 100 apps are allowed.
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Bluetooth works solely with mobile.
Trezor Vs. Ledger: Hardware
The Ledger wallet has a stainless-steel body compared to the more plastic casing of the Trezor wallet. Although this offers the Ledger Nano S a more fashionable appearance, it is not what is crucial. What matters is that the Ledger Nano S is more resilient to damage thanks to the stainless steel!
Two buttons control the software’s web interface on both devices. However, the buttons on the Trezor are simpler to use as they are sufficiently separated from one another.
Compared to the buttons on the Trezor, the Ledger wallet’s two buttons are much closer together, which increases the possibility of accidentally pressing both at once.
Trezor Vs. Ledger: User Interface
Ledger Live is accessible on desktop and mobile and is now beta testing for the browser extension. Access to exchanges, hot wallets, and Dapps is made simple by the Ledger Nano X model’s Bluetooth connection to the mobile app.
Although Trezor includes a desktop program, browser extension, and a planned Android app, it is incompatible with Apple’s mobile operating system, unlike some of its rivals. Trezor does not support Bluetooth connections, though the developers claim this is due to security concerns.
In contrast to Ledger Live applications, Trezor requires third-party integration to stake coins and access NFT marketplaces.
More details
Ledger Nano S Plus is a fortress-like protection for your digital wealth, sporting an affordable price point. This crypto wallet supports many cryptocurrencies and blockchain networks, making them easily managed via the reputable Ledger Live app. Despite its significant advantages, some users have noted the lack of storage capacity.
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Support for up to 5,500 cryptocurrencies.
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Private keys are always offline.
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Integration with other hot wallets.
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Support for staking.
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NFT support.
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High fees for Ledger Live crypto purchases.
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Limited app space.
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Small display.
Among Trezor and Ledger, which is best suited for new crypto users?
It’s a difficult decision. The benefits of the other outweigh the drawbacks of the first. On the one side, Trezor provides additional security and transparency due to its open-source design and Shamir Backup feature. Conversely, Ledger is less expensive and has a simple Bluetooth connection with a smartphone. Then there are the aesthetics: Ledger beats out Trezor’s outmoded design if you’re looking for fashionable gear.
If you are new to cryptocurrency, it is advised to go with the Ledger crypto wallet, as it is less expensive and offers all Trezor’s features.
Is the Trezor Wallet Safer Than Ledger?
Despite being about eight years old, the Trezor Model One still has some outstanding security features for your private keys. First off, the Trezor Model One gives its consumers PIN security. You can create your nine-digit PIN code during setup, adding a first line of defense against unauthorized users. The Model One will lock itself after ten minutes, so you must reenter your PIN.
Trezor also contains a “25th seed word” function that enables users to add one more seed phrase word to increase security further and provide a 24-word seed phrase for private key retrieval.
Trezor also has multi-signature capabilities, which need two or more private keys to approve any transaction from the wallet. The multi-signature feature of the Trezor, however, is only accessible through integration with the Electrum software wallet.
Final Verdict
It’s challenging to pick an outright winner because the Trezor One and the Ledger Nano S Plus are close rivals.
If we must, you should know that the Ledger device far outperforms the Trezor in size, robustness, the number of supported assets, and price. If you’re worried about security and usability, the Trezor device is a better option (because of add-ons and screen size).
Trezor is ahead in protecting user information provided after the purchase, even if there have been numerous stories of Ledger users falling victim to e-mail and SMS phishing assaults.
Regarding cryptocurrency support, Ledger outperforms Trezor, accommodating over 5,500 cryptocurrencies, compared to Trezor supports it's 1,289 or 1,456, depending on the model. Ledger users can manage cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, and Stellar.
Trezor and Ledger differ in their architectural designs: Trezor operates on a single-chip base, whereas Ledger employs a double-chip base, termed Secure Element (SE), which grants an added layer of defense against hardware threats.
Yes, the Trezor One is not outdated. It remains a secure solution for offline storing digital asset private keys, with regular software and firmware updates improved private key security from Trezor ensuring its relevance.
With native support for Bitcoin, Ethereum (including all ERC-20 tokens), Cardano, Litecoin, Ethereum Classic, XRP, Dogecoin, and other coins, you can manage these assets directly in the Trezor Suite application, either on desktop or web platforms.
Suchet Salvesen
Suchet is a Norwegian economist, entrepreneur, and investor, serving as the CFO and COO of Brainfund. With over a decade of experience in global expansion, venture capital, and emerging technologies, he earned his MBA from the NMBU School of Business & Economics. He held dual bachelor's degrees from the University of South-Eastern Norway. His career spans roles at NextToMe, Get, and Conax before joining Everipedia, now Brainfund, in 2017.
