• Home
  • /
  • Blog
  • /
  • Ledger vs. Trezor: Which One is Better?

Ledger vs. Trezor: Which One is Better?

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Read our Advertising Disclosure.

Ledger vs. Trezor

Hardware wallets are pretty much part of the growing features of the expanding world of cryptocurrency investment.  

While naturally hailed as the best way to protect your crypto investments, in truth, most investors use regular hardware devices.

In some cases, Regular Joes just park their holdings in any of the leading exchanges, and this is a practice that many people fail to recognize to be risky.

The fact that people do it, however, doesn’t mean a hardware wallet isn’t the preferred option.

Particularly for investors that are hands-on, such a wallet allows them to make sure all of their crypto holdings are safe and away from the reach of thieves or hackers.

Yet, choosing to use a hardware wallet is but the first step on a long, sometimes contrived path.

Hardware wallets can come in many forms, from a simple USB stick that you convert into a wallet to more complex units manufactured specifically for the task and often giving you extra features, if not added security to boot.

If you’re looking for the best possible hardware wallet, the competition isn’t really about self-made USB sticks and specialized devices: the latter will always win hands down.

The difficulty comes in choosing a device, as naturally all of them call themselves the best at what they do.

For this article, we’re focusing on two of the most common, and arguably the best hardware wallets out there: Ledger and Trezor.

These two brands are usually the most sought-after and as the most advanced wallets, they lead the range.

Compare Ledger Nano vs. Trezor Wallet

Why we like Ledger Nano:

The Ledger Nano is low cost, ease of use, support for many coins as well as its compact size are all positive points. 

  • Easy to use
  • Cold storage wallet
  • Supports many cryptos
  • Affordable price

Why we like Trezor Wallet:

Trezor is the industry’s first hardware bitcoin wallet that gave users secure cold-storage services along with the useful option of being a hot wallet.

  • Secure
  • Great interface
  •  Focus on "Expansibility
  • Back-up and Recovery

Why should anyone own a hardware wallet?

Cryptocurrency Hardware Wallet

Before we get into features and specifics, it seems important to point out just why some people would want to have a dedicated device act as a wallet.

It feels counterproductive, after all, to have to carry an extra item if you ever want to make any crypto transactions.

Truth is, hardware wallets are the only truly impossible to hack wallets.

While crypto wallets are safe in general, software wallets are mostly exposed to the activities of hackers that prowl crypto-related platforms. 

Yes, most people out there might never fall victim to the marauders.

But for people who have huge investments, those who have hundreds of thousands or even millions of dollars in crypto, there is no step to do the right thing that can be wrong.

Hardware wallets are impossible to hack simply because as a result of design, they aren’t available in any devices or networks.

As long as your wallet is kept safe and unplugged from your computer, you can be rest assured that your crypto investment will be safe.

Naturally, the idea of a hardware device seems problematic to many: What if I lose it?

Or what if the device fails, as USB sticks sometimes die overnight for no apparent reason?

Good hardware wallets consider this possibility and add extra layers of redundancy to make sure you won’t lose access to your investment in case of a hardware failure.

In most cases, you’re given a recovery seed that serves as a second password to access your crypto holdings.

With this measure, you can be sure you’ll retain access to your crypto – as long as there isn’t some major disaster that somehow destroys your wallet and your recovery keys.

A Look Into Both of the Wallets Features

Now that we’ve explained why you might want a hardware wallet, and hopefully eased your questions about what happens if you lose or damage them, we should take a look at the wallets themselves.

Both Ledger and Trezor wallets are great products, after all, and in the end, the choice between them comes down both to the features they offer and what you need from a crypto wallet.

If you have ever driven a car or owned one, you might well understand why it could be that features determine what you choice will be.

Apart from that, pricing also plays a role, but when it is such that there is close proximity between your choices in terms of cost, then particularities could matter.

Let us get down to the two hardware wallets and unravel their selling points:

Ledger

Ledger Nano

Ledger devices look like regular USB thumb drives.

They’re smaller than Trezor and stand out much less – which might actually be a feature depending on your specific needs.

While their looks aren’t particularly special, Ledger wallets have a full team of security and cryptocurrency experts behind, providing users with some of the best hardware wallets in the market.

Ledger has been around for almost as long as Trezor, entering the market only a few months later.

Having entered the market after their main competitors haven’t hurt Ledger at all, considering the Ledger Nano S, one of their flagship devices, has sold more than a million units to date.

Ledger doesn’t offer as many models and accessories as Trezor does, but then again in most cases, you won’t need said accessories.

Ledger hardware wallet prices range from $60 to $270 – the latter price being that of the Ledger Blue, a touchscreen-based hardware wallet made as a deluxe offering.

And like in most markets, something a bit extra would appeal to a higher echelon of users, and of course, at a higher price.

Trezor

Trezor

Trezor is presented as an extra-secure cold storage device more than just as a crypto wallet.

The device itself is very well made, coming with its own screen to show you whatever info you might need.

It’s bigger than a USB thumb drive, but not so big that it wouldn’t be portable.

Trezor was the very first Bitcoin hardware wallet ever launched, a market the company has kept improving on over time.

Today, it’s one of the most common, and most secure, devices to store your cryptocurrencies in.

While it started as only a BTC wallet, these days, Trezor devices offer support for many more tokens, including the most popular market leaders.

Trezor’s offerings are extremely varied, with a series of products whose price range goes from an affordable $50 to a deluxe $500.

This allows you to choose based on what you need and what you can afford without necessarily having to break the bank just to keep your cryptocurrencies safe.

Besides hardware wallets, Trezor offers several accessories to complement your hardware wallet.

Of note among them is the cryptosteel – A stainless steel backup for your recovery seed that’s effectively indestructible, and the preferred method to store your key.

Currency Support

The most important part when choosing your wallet will always be currency support.

After all, the best-rated hardware wallet in the world will be useless if you can’t keep the crypto of your choice in it.

The specific supported currencies, however, aren’t company-wide by design: Not all Trezor devices will support the very same list, nor will all Ledger devices offer support for the same group of currencies.

However, both companies strive to support as wide an array of cryptocurrencies with all of their devices.

The main tokens, such as Bitcoin and Ethereum, are pretty much standard features by now. 

It’s the niche coins that may or not be supported – and this support should be the first thing to sway you not only towards a brand, but potentially towards specific models.

In general, Ledger devices tend to support a larger number of tokens out of the box.

While Trezor devices support many tokens in theory, some of them require you to use third-party programs or plugins which not only makes the device more complicated to use, but also might lower its security rating.

To make Ledger’s advantage on this field even bigger, Ledger offers devices that support Ripple, which clearly does not enjoy the support of Trezor just yet.

Screen and Size

While the TREZOR’s screen is obvious and larger, both Ledger and Trezor devices have screens.

Ledger’s screens are just conspicuous, since they’re the very body of the device.

As such, you shouldn’t focus on whether a device has a screen or not, since it will always have at least just one.

Instead, look at other things around it: Do you need a larger screen, perhaps due to visual impairment?

What about portability?

Both devices are portable, but one of them is smaller and less conspicuous than the other.

Where Trezor’s models are noticeable and can’t really be confused for a regular USB thumb drive, Ledger’s devices can.

This specific choice won’t be a huge one for most people, but maybe as small as it is, it could be what tips your choice towards one direction or another.

So our recommendation?

Don’t lose much time thinking of this at first.

Instead, check the other points and then, if you’re still split between devices, come back to this one.

The Security Screen

Naturally, both devices are considered extremely secure – after all, it’s the one feature anyone looking into them would be looking for.

However, there is one specific difference that gives Ledger an edge in this regard: 

Some of their devices are based on dual-chip architecture that’s thought to be considerably safer than those of the competition.

There’s something else you should be wary of when choosing a device.

This is something that won’t tilt your choice if you are down to just ledger or trezor, but it’s best that you know it in case you look into a third party:

Does the device offer a screen?

Not all hardware wallets offer screens.

While this may not seem like a big thing and you may ask yourself if a silly screen is even useful at all, the truth is that a screen is a major security feature for a hardware key to have.

As mentioned before, if your device gets lost, stolen, or damaged, you’ll have a recovery key you can use to regain the control of your wallet.

This key is supposed to be secret and kept in a safe place apart from your wallet.

Keeping it secret is extremely important because it can be used by third parties to take over your wallet even if your device isn’t lost.

The screen in hardware wallets is there precisely so that you can be shown you recovery code without it passing through a third party.

The screen displays the code, you need to write it down and put it somewhere safe, and there’s not a chance a third party obtains it unless you’re either around thieves when you set up your wallet or you were being recorded with a camera.

If the device doesn’t have a screen, however, then the code can only be conveyed to you via software, usually through your PC.

This means the code has to go through it, either as the content of a file or as an image to be shown on your screen – regardless, this means the code can be intercepted and therefore the wallet is at risk.

Yes, it is unlikely that you’ll have malware in your PC that targets the specific brand and model of wallet you just bought.

But unlikely doesn’t mean impossible, so when choosing a hardware wallet always get one that has a screen or at least another safe way to show you your recovery code.

OS and Device Compatibility

It would be nice to live in a world where you can get just get any hardware wallet (or any hardware whatsoever) and plug it to your PC or phone and have it work out of the box, without having to consider which OS, or version of an OS, your computer might be running.

We don’t live in such a world.

Thus, it’s important to choose a device that will work on what you have.

This is one of those points that are dealbreakers by nature, since most of the time, people won’t be able or willing to switch their platform of choice just so their hardware wallet will support it.

In general, both Trezor and Ledger devices support Mac, Windows, and Linux, so if you’re choosing between these brands, your OS shouldn’t be a problem.

However, there is one catch: Ledger devices require Google Chrome or Chromium-based browsers to work properly on top of requiring plugins.

Trezor devices, on the other hand, don’t have such a requirement and plugins exist for a variety of browsers.

Also, Trezor offers an Android app that allows you to use your Trezor hardware wallet with your phone instead of a computer.

While there are ways to obtain this functionality using a Ledger device, it’s more difficult than with Trezor where the full process consists of simply looking up the app on the play store and downloading it.

Wallet Software Compatibility

Hardware wallets don’t usually come with the wallet software incorporated – instead, they work with third-party wallets they’re compatible with.

This allows users to choose the hardware wallet they want without having to lock themselves to a software they may or not like.

As one would expect in these situations, not all hardware wallets are compatible with all software wallets.

The most common wallets, such as Electrum and Mycelium, tend to be supported by most models, but more niche ones will require you to spend more time searching for a compatible device.

Back to the question of whether to go for Ledger or Trezor, both companies tend to offer support for a large array of wallets.

However, on average, Trezor seems to offer more extensive compatibility.

Ledger’s wallets, although perfectly good for most software, don’t often support wallets like Multibit HD or Trezor’s own software wallet, myTREZOR.

Pricing

It’s impossible to make a choice between two or more devices without taking this into account, since most people make their purchases on a budget and different device will always command different prices.

Hardware keys, luckily, aren’t particularly expensive.

While not necessarily inexpensive – you wouldn’t consider the cost of hardware keys to be pocket change unless you’re loaded – they also won’t usually dig a hole in your pocket either.

Which brand offers better pricing will heavily depend on your model of choice.

Both Ledger and Trezor offer hardware wallets for a rather diverse range of prices, although the average tends to be at around the $100 mark.

Ledger devices do sometimes cost less than Trezor products, but this price difference will heavily depend on the model you choose and where you buy it from.

If you’re looking for the absolute cheapest, you’ll likely find it from Ledger, but if small price differences aren’t a problem, then either brand will likely work just fine for you.

Setup and Use Process

The last thing you should look into is this. While most hardware wallets have simple setup processes, it’s good to know what you’ll be asked or what the requirements of said process will be like.

There is probably nothing more frustrating than coming home with a new acquisition that you are not able to put to use.

So, no one would take this layer of product comparison as trivial or rather unimportant.

For Ledger and Trezor wallets, the setup process is similar: You set a PIN code that you’ll need whenever you want to move the tokens or coins to/from your wallet, and you’re given your recovery key to write down and keep somewhere safe.

The interfaces for both wallets are simple and clean.

One might expect an advanced device such as a hardware wallet to be somehow clunky to use, but that’s not the case here: Both companies have put usability on the forefront, making their product picks something almost anyone can use.

Which One Should You Buy?

What is then my pick between Trezor and Ledger hardware wallets?

Both Ledger and Trezor offer a wide array of products, each of them with its own features and price tags.

In both cases you can go from smaller devices, priced at around $50, to big, luxury wallets costing $200 or more.

What this means is that calling a single brand to be above the other one wouldn’t be correct.

They both offer perfectly user-friendly devices (even if Ledger’s wallets edge out the competition a little bit thanks to their architecture) that will keep your cryptocurrency safe from hackers.

It’s unlikely you’ll have any problems using them, and as long as you practice good security, it’ll be impossible for anyone to steal your crypto.

So in the end, while both Trezor and Ledger are competing against each other, they’re close enough to feature parity for their duel to be declared a draw.

They both offer excellent products, and whether one or the other is the best bet will depend on the user more than on the company. 

It’s difficult to choose between both brands, particularly considering the array of different devices each of them offers.

In truth, both have pros and cons, and your choice of which to go with largely boils down to your own needs as a cryptocurrency user or investor.

Why we like Ledger Nano:

The Ledger Nano is low cost, ease of use, support for many coins as well as its compact size are all positive points. 

  • Easy to use
  • Cold storage wallet
  • Supports many cryptos
  • Affordable price

Why we like Trezor Wallet:

Trezor is the industry’s first hardware bitcoin wallet that gave users secure cold-storage services along with the useful option of being a hot wallet.

  • Secure
  • Great interface
  •  Focus on "Expansibility
  • Back-up and Recovery

You may also like

Should You Invest in Dogecoin?

Should You Invest in Dogecoin?