If you have clicked on this article, then near for sure you are aware of the terms Trezor and Ledger in the crypto world. Both of these are hardware/cold wallets which are used to store your cryptocurrencies (in real your Private Key, which is used to access the cryptocurrencies you own in blockchain). This guide will focus on Trezor vs Ledger comparison- a detailed analysis of the features of these two cold wallets, basis which you can decide which one is best suited to your needs and expectations.
Genuinely speaking both these wallets offer ultra secure modes of storing your cryptocurrencies. It depends on one’s specific choices, to determine which one among the two is best suited to their needs. This guide Trezor vs Ledger will try and unwrap these specific features of these two wallets, so that you can make an informed decision of which one to buy for yourself.
Trezor has two models available-Trezor Model One and Trezor Model T.
While Ledger also offers two models-Ledger Nano and Ledger Nano X.
Trezor is part of SatoshiLabs and was launched in 2013 with headquarters in Praha, Czech Republic. Ledger was founded in 2014 and is headquartered in Paris, France.
Let us now examine Trezor vs Ledger wallets closely.
Table of Contents
Trezor vs Ledger : A Detailed Comparison
Look and Feel
Sleek, steel body, looks like a USB storage device.
Weight: A bit heavier
Ledger Nano S-16.2 gram
Ledger Nano X-34 gram
Size: A bit larger
Ledger Nano S-56.95 mm × 17.4 mm × 9.1mm
Ledger Nano X-72 mm × 18.6 mm × 11.75 mm
Display: Smaller display screen as compared to Trezor. Display clarity is inferior to Trezor.
Ledger Nano offers a Organic Light Emitting Diode (OLED) screen.
The premium model Ledger Nano X display is 128X64 pixels
Material: Stainless steel body gives Ledger Nano more durability.
Weight: A bit lighter. Normally the weight is around
Trezor Model One-12 gram
Trezor Model T-16 gram
Size: Somewhere around
Trezor Model One-60 mm x 30 mm x 6 mm or 2.4 in x 1.2 in x 0.2 in
Trezor Model T-64 mm x 39 mm x 10 mm or 2.52 in x 1.54 in x 0.39 in
Display: Larger display with Liquid Crystal Display (LCD) color touchscreen. Display clarity is superior to Ledger.
The premium model Trezor Model T offers 240X240 pixels.
Material: Trezor is made of plastic and hence is less durable than Ledger.
Buttons: Trezor Model One, Ledger Nano S and Ledger Nano X have two buttons each. Though the space between the buttons in Trezor is more than its Ledger counterparts providing more ease of using them to send or receive cryptocurrencies.
Ledger and Trezor
All four (Ledger Nano S, Ledger Nano X, Trezor Model One, and Trezor Model T) are compatible with Windows, Linux, and Mac Computers. Although, Ledger takes an edge as it supports Android as well as iOS phones while Trezor is compatible with Android but not iOS phones.
Ledger and Trezor
Both Ledger Nano and Trezor Models support most of the popular cryptocurrencies like BTC, ETH, LTC, XLM , DOGE, DASH, ZEC, NEM, and a thousand others. However, Ledger has a slight edge over Trezor, as Ledger Nano supports few popular coins like Uniswap (UNI), Avalanche (AVAX), Graph Token (GRT), yearn.finance (YFT), Celo (CELO), Ocean Token (OCEAN), or Reef Finance (REEF), which Trezor does not.
The three wallets Ledger Nano S, Ledger Nano X and Trezor Model T support almost the same coins, whereas Trezor Model One support slightly fewer coins.
The list of cryptocurrencies supported by Ledger Nano can be found here.
The list of cryptocurrencies supported by Trezor can be found here.
Both Ledger and Trezor offer built in cryptocurrency exchanges to buy, sell and trade cryptocurrencies directly from your wallet.
For instance, one can plug in his/her Ledger Nano wallet to Shapeshift (a cryptocurrency exchange) to buy, sell, trade, send, receive, hodl cryptocurrencies. The cryptocurrencies will be stored securely in the Ledger Nano wallet.
Both Ledger Nano and Trezor are the most secure wallets available till now, especially when compared to mobile and desktop wallets. As we know, both these wallets store the Private Key in an offline mode preventing any online hacker or malware attacks.
However there are few areas or added capabilities which make Trezor a winner and some which does the vice versa. Let us examine.
- Ledger Nano are built on double chip base as compared to a single chip base of Trezor wallets. The added chip in Ledger wallets offer added security against hardware based attacks.
- Trezor has open source software and firmware. Hence the code and firmware in Trezor are open to third-party reviews and vulnerability tests which in result improves its security. Ledger Nano’s code and firmware are not open source.
- Trezor Model T offers extra security features like Shamir backup and FIDO2 authentication. Shamir backup method allows you to generate up to 16 recovery phrases which you can keep at different places or with trusted parties. It hence, eliminates the risk of losing a single recovery phrase.
- Ledger has a more secured way of entering your password as compared to Trezor. In Trezor, you type your password using the keyboard of the device to which you connect your Trezor to, which gives space for threat from hackers. However, in Ledger the password is connected to a PIN which is entered using your wallet only.
Let us now examine the prices of the four wallets. Please note the prices are noted at the time of writing of this guide.
|Ledger Nano S||70 + Shipping||Buy Ledger Nano S|
|Ledger Nano X||177 + Shipping||Buy Ledger Nano X|
|Trezor Model One||70||Buy Trezor Model One Black|
Buy Trezor Model One White
|Trezor Model T||215||Buy Trezor Model T|
Ease of Use
If you ask me which one among the four is best in terms of ease of use, then my answer will be Trezor Model T. The Trezor Model T has a color touchscreen and the display screen is bigger as compared to Trezor Model One and the two S and X of Ledger Nano.
Trezor Model One, S and X of Ledger Nano have two physical buttons and smaller screens and hence will need a bit of time in getting accustomed to use them with ease.
However Ledger Nano S and X can be connected via Bluetooth of your phone or laptop. While the Trezor Model One and Model T will need USB devices to be connected to your system.
Ledger Nano X offers Bluetooth connectivity which is not seen in Trezor. This makes Ledger Nano X easy to use for mobile users.
In 2020, Ledger witnessed a breach in a marketing database which exposed client’s contact information.
As a part of vulnerability testing exercise, Kraken was able to hack Trezor wallet when they were given the hardware wallet.
Trezor has open source software and firmware. Hence the code and firmware in Trezor are open to third-party reviews and vulnerability tests which in result improves its security. Ledger Nano’s code and firmware are not open source.
What happens when Trezor or Ledger wallets are stolen?
Anyone trying to access your wallet will need to input a PIN. Both the Trezor and Ledger wallets are protected by a PIN. After few unsuccessful attempts the device self-destructs itself, prohibiting the person from accessing your funds.
Has Trezor ever been hacked?
Recently a Computer Engineer and hacker was able to unlock the funds in the Trezor Model One wallet of an Entrepreneur from NYC. The total value of the funds were USD 2 Million. The Entrepreneur-Dan Reich had lost his security PIN to the wallet. After several unsuccessful attempts (12 to be precise), the Entrepreneur approached the Joe Grand to unlock the wallet by hacking the wallet. After 12 weeks of trial and error Joe was able to hack and unlock the Trezor wallet. He described that he was able to get the PIN from the RAM of the wallet. Trezor commented that this gap has been filled in all the new wallets.
Is Trezor wallet the best?
The Trezor wallet (Model One and Model T) are one of the best wallets apart from Ledger Nano, in terms of the security offered, coins supported and in-built exchanges. Though Trezor are a bit higher in prices as compared to Ledger Nano, but some extra features like bigger touch screen, smaller pocket friendly size are provided.
What coins are not supported by Trezor?
Few coins like ADA (Cardano), XRP (Ripple), XTZ (Tezos), XMR (Monero) and EOS are not supported by Trezor Model One. See the list of the coins supported by Trezor Model One and Model T here.
Can you store multiple crypto coins with a Trezor or a Ledger hardware wallet or just Bitcoin?
Which one is safer, Trezor T or Ledger Nano X?
Both the wallets offer ultra safety while keeping your coins. Though both of them have had their shares of breaches at some times. Although these breaches and gaps have been addressed, as commented by the manufacturers.
Trezor Model T offers Shamir backup while Ledger Nano X offers double disk space. Trezor has an open source code and firmware, while Ledger has a more secured way of entering your password as compared to Trezor. So each one of them are a bit different in the approaches they follow, but nearly same in the level of security being offered. If you are trying to choose among the two, try and filter out based on other features like cost, durability, looks and availability in your country.
Can I recover my lost Bitcoin funds for free?
If I am correct, you are asking, whether you can retrieve your Bitcoin funds in the event of loosing your wallet-by theft or any other reason.
The answer is YES as long as you have got your Recovery Phrase/Seed.
This is true for almost all hot and cold (software and hardware wallets). You need to attempt a login to a new wallet. This new wallet will prompt you to enter your Recovery Phrase/Seed and as a result of which you will be able to retrieve your Bitcoin (or for that matter any cryptocurrency) funds (Actually you will be able to recover your Private Key which will help you to access your funds in the blockchain network).
Hence you see protecting your seed is the most important step, when you have a wallet. A Recovery Seed is a long phrase made up of random words which are nearly impossible to guess. These are actually the human representation of a long number which can calculate all the keys that you will be using in your wallet.
Do not ever digitize your recovery seed or make it come in contact in a network. Store it offline in a piece of paper written with a permanent markup. Or you can engrave your recovery seed in a metal or some similar item and store it securely.
Trezor vs Ledger-Conclusion
Now that we have had a detailed analysis of Trezor (Trezor Model One and Trezor Model T) and Ledger Nano (S and X), we can say that it strictly depends one’s personal choice to decide which wallet to buy. To me, both Ledger and Trezor offer almost the same levels of security. Although there are other features which are different in these wallets which can be the basis of your decision.
- For an early and novice investor who is just starting, a Ledger Nano S will be a good option. It will not be that stylish with the operating buttons close enough to give you slight discomfort while using them. But it is the cheapest and you can get accustomed to the usage in a while.
- If you are looking for a stylish, pocket friendly, colored touchscreen you can opt a Trezor Model T. It will cost you more, but gives you few added security features (like Shamir backup) and enhanced look, feel and usage experience.
- Also to bear in mind that few cryptocurrencies like ADA (Cardano), XRP (Ripple), XTZ (Tezos), XMR (Monero) and EOS are not supported by Trezor Model One. Hence if you are looking to invest or deal in the above list of coins, you should refrain from buying a Trezor Model One.
- Of course, if you are looking for a price friendly and secured hardware wallet you can choose among Ledger Nano S and Trezor Model One. The premium versions will come at a greater cost.
Let us put a summary table below.
|Features||Ledger Nano S||Ledger Nano X||Trezor Model One||Trezor Model T||Winner|
|Colored touch screen||No||No||No||Yes||Trezor Model T has the largest colored touch display screen.|
|Stainless Steel Body||Yes||Yes||No||No||Ledger wallets have more strong and durable bodies built of stainless steel.|
|Mobile connectivity||No||Yes||No||Yes||Ledger Nano X and Trezor Model T can be connected to your smartphone to perform different crypto transactions.|
|Shamir backup||No||No||No||Yes||Trezor Model T allows you to create multiple seeds, so that if you forget or your seed is stolen it doesn’t prevent you from accessing your funds|
|Open Source||No||No||Yes||Yes||Trezor codes and firmware are open source which allows third party users to test them and hence fill any security gaps|
|Cost||Cheapest||Cheaper||Cheaper||Costliest||Ledger Nano S is the most cheapest and is the popular choice for people starting in crypto|
|Available in USA||Yes||Yes||Yes||Yes||Trezor and Ledger|
|Available in Canada||Yes||Yes||Yes||Yes||Trezor and Ledger|
|Available in India||Yes||Yes||No||No||Ledger|