Ledger's advantage lies in its Bluetooth-enabled devices, wider coin support including Ripple, Monero, and Tezos, and a larger touchscreen on premium models, while Trezor's Model T offers Shamir Backup and a color touchscreen at a lower cost.
Securing your digital assets in the current era of evolving technologies becomes increasingly important. Software wallets, while convenient, can be susceptible to online attacks. Hardware wallets offer a more secure solution, functioning like a physical vault for your crypto holdings. Trezor and Ledger are leading hardware wallet providers known for their strong security and user-friendly interfaces. But with advancements in technology, which one reigns supreme in 2024? This guide will explore the key features and differences between Trezor and Ledger, helping you decide to safeguard your cryptocurrency the best.
Ledger vs. Trezor: Overview
| Trezor | Ledger | |
| Price | $69 to $219 | $79 to $279 |
| Supported Currencies | 1456 (Model T), 1289 (Model One) | 500+ (Ledger Live), 5000+ (third-party) |
| NFTs | Yes | Yes |
| Staking Supported | Yes | Yes |
| Transparency | Open Source | Closed Source |
| Mobile App | Yes (Android) | Yes (iOS and Android) |
| Wallet Software | Trezor Suite | Ledger Live |
| Security | CE and RoHS certified 2FA Advanced Shamir Backup Hidden wallets Coinjoin Tor | Certified Secure Element (CC EAL5+) 2FA Coinjoin Ledger Recover |
Ledger vs. Trezor: Wallet Features
Trezor and Ledger are among the top crypto wallets, offering many similar features but with distinct differences. Both brands connect via USB, but Ledger's devices resemble sleek, steel USB storage drives, with the Ledger Stax featuring a smartphone-like touchscreen. Trezor devices, on the other hand, are lighter and housed in plastic casings with unique shapes. Both wallets are compatible with Linux, Windows, and Mac computers, but Trezor only connects to Android devices via a mobile browser, while Ledger has a mobile app for both iOS and Android.
Regarding display, the Trezor Model One, Ledger Nano S Plus, and Nano X have 128x64-pixel screens. The premium Trezor Model T contains a 240x240-pixel LCD color touchscreen, whereas the Ledger Stax offers a larger 400x672-pixel grayscale touchscreen.
Connectivity-wise, Ledger's Nano X and Stax models feature optional Bluetooth, a convenience not available with Trezor devices.
For advanced features, Ledger stands out with its Ledger Live platform, providing integrated access to staking, NFT management, and decentralized applications without needing third-party software. The Ledger Stax is particularly designed for cryptocurrency and NFT management. Conversely, Trezor offers a user-friendly interface ideal for beginners, though advanced features like staking and NFT management require additional software integrations.
Ledger vs. Trezor: Cryptocurrencies
Trezor and Ledger wallets both support over 500 cryptocurrencies worldwide, but a closer look reveals that Ledger offers a wider variety.
Ledger wallets are compatible with at least 50 other crypto wallets, including Electrum, Mycrypto, MyEtherWallet, Electron Cash, PolkaDot JS, Binance, and Cosmostation. This broad compatibility ensures that Ledger devices can access many in-demand coins. Ledger wallets offer 500+ coins from Ledger Live and 5000+ coins from third-party wallets.
Trezor also supports a significant number of cryptocurrencies. However, the Trezor One model has limitations in its coin range. For example, it does not support popular altcoins like Monero, Cardano, and Ripple, which are available on both Ledger models. Despite these limitations, Trezor still offers a substantial selection of coins for users to explore. It offers 1456 coins on Model T and 1289 coins on Model One.
Ledger vs. Trezor: Security
Trezor and Ledger are industry leaders in security, offering private keys that never leave their devices. Trezor models use a single chip base, while Ledger devices feature a double chip base, with the second chip being a bank-grade secure element (SE) for enhanced protection against hardware attacks.
Ledger's blockchain open ledger operating system (BOLOS) is an open-source framework, but its firmware is closed-source, unlike Trezor's, meaning third parties cannot review or test it for vulnerabilities. Additionally, Trezor One users enter their passwords via a keyboard, whereas Ledger users input them directly on the hardware.
Both brands support BIP39 passphrases, but only the Trezor Model T offers Shamir Backup for improved private key security. It is important to note that Ledger lost some public confidence after a 2020 marketing database breach exposed contact information. Similarly, during vulnerability testing, Kraken's security division found Trezor hardware wallets vulnerable to physical hacking.
Ledger vs. Trezor: Pricing
Trezor offers two devices, while Ledger offers three, each with distinct features and price points. The Trezor One, priced at $59, and the Ledger Nano S Plus, at $79, feature two physical buttons and small OLED displays. However, the Trezor One supports fewer coins, making the Nano S Plus preferable for investors holding Ripple (XRP), Monero (XMR), or Cardano (ADA). The Ledger Nano X, costing $149, adds Bluetooth connectivity, enhancing convenience.
For premium options, the Trezor Model T, at $179, includes a color touchscreen, while the Ledger Stax, at $279, has a larger greyscale screen. Despite the screen differences, both models provide advanced security and functionality. Crypto investors seeking affordable hardware wallets will find the Trezor One or Ledger Nano S Plus suitable for cold storage. The Ledger Nano X is ideal for Bluetooth capability, whereas those desiring a touchscreen prefer the Trezor Model T or Ledger Stax.
Ledger vs. Trezor: Ease of Use
Trezor and Ledger's devices are relatively easy to set up due to their strict account verification and passphrase configuration processes. The lower-end models from both brands have two physical buttons and smaller screens, which might be more challenging for those used to touch screens and larger displays. Despite these differences, the setup and usage processes are quite similar. The Ledger Nano X, slightly larger than the Nano S Plus, offers more spacing between buttons and adds Bluetooth connectivity, eliminating the need for a cord.
The Trezor Model T features a color touchscreen, whereas the Ledger Stax has a greyscale screen but is significantly larger. The larger screen of the Ledger Stax enhances ease of use, making it easier to press and read information accurately. Additionally, the Ledger Stax includes Bluetooth connectivity, a feature not available on the Trezor Model T, further simplifying its use.
Ledger vs. Trezor: Mobile App
Ledger devices are compatible with the Ledger Live application, which can be downloaded on desktop and mobile devices. This application allows users to manage their accounts, view real-time cryptocurrency balances, and send or receive funds. All Ledger devices must connect to Ledger Live to complete the initial setup.
In contrast, Trezor does not currently offer a mobile app. Instead, users must install a Chrome extension or the Trezor Bridge compatible with their operating systems. Trezor provides the Trezor Suite as a desktop application, which gives access to portfolio information and an integrated exchange.
Ledger and Trezor support third-party wallets and cryptocurrency applications such as MyEtherWallet, MetaMask, and MyCrypto. However, there are some differences in compatibility: only Trezor connects with Exodus, whereas Kyber Network users need to use Ledger. Trezor supports six third-party wallets, while Ledger supports 15, alongside various other applications. This broader support may make Ledger more versatile for users needing diverse cryptocurrency management options.
Trezor vs Ledger: Opt for the One that Suits You the Best
Trezor and Ledger offer secure hardware wallets that are user-friendly and effective for storing cryptocurrency. Each supports over a thousand coins and tokens and provides access to cryptocurrency exchanges. The Ledger Nano X and Ledger Stax include Bluetooth functionality and Ledger wallets also support Ripple, Monero, and Tezos. The Trezor Model T features a color touchscreen, while the Ledger Stax has a larger, grayscale-only touchscreen.
Ledger has a slight advantage over Trezor due to its three device options, the larger touchscreen on its premium model, mobile app, iOS connectivity, and support for additional popular coins and wallets. However, the Trezor Model T stands out with its Shamir Backup feature and a touchscreen at a more affordable price.
Frequently Asked Questions
Does Ledger report to the IRS?
Your transactions on Ledger and other platforms are subject to income and capital gains tax in the United States. So, Ledger does not directly report to the IRS, but users are responsible for reporting their cryptocurrency transactions for tax purposes.
Is the Ledger wallet safe in 2024?
Yes, the Ledger wallet remains safe, as it keeps private keys or seed phrases offline, even with Bluetooth usage.
What are the disadvantages of Trezor?
Trezor hardware wallets do not directly support the storage of NFTs. The Trezor Suite app cannot manage NFTs, so NFT transactions must be done by connecting your Trezor to a third-party app like Metamask.
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About Ishan Jain
Ishan Jain is a technical enthusiast with a knack for financial analytics and trading. Ishan primarily works on AI algorithms, business development, and software engineering for his ventures and side projects, and he produces Web3 content for Benzinga. Ishan has been involved in DeFi in a variety of ways, including heading a project at a crypto asset investment firm along with leading a blockchain security research project.