Trezor vs. Ledger

Ledger takes the lead thanks to its compatibility with iPhones and Ripple crypto

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Trezor and Ledger are two well-known names in the cryptocurrency industry. Both offer secure hardware wallets, support over 1,000 coins, and have incorporated cryptocurrency exchanges. 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. 

While there are staunch supporters of both companies, the $190 Trezor Model T offers a larger touchscreen, making it easier to use. However, it doesn’t offer Bluetooth connectivity or a mobile app like the Ledger Nano X. Additionally, the Ledger Nano devices support a few popular coins, like Graph Token (GRT) and Uniswap (UNI), that Trezor doesn’t.  

We reviewed the companies and devices based on security and supported currencies while also looking at ease of use, cost, features, and more.

Trezor


Trezor

 Trezor

  • Type of Wallet: Cold
  • Currencies: 1,649
  • Purchase Cost: 53 to 164 Euro
  • Incorporated Exchange: Yes
  • Device Size: One: 60 mm x 30 mm x 6 mm, 12 g
    Model T: 64 mm x 39 mm x 10 mm, 22 g
  • Mobile App: No
Pros
  • Color touchscreen available

  • Open-source firmware

  • Offers Shamir Backup

Cons
  • No mobile application

  • No Bluetooth

  • Plastic case

Ledger


Ledger

Ledger

  • Type of Wallet: Cold 
  • Currencies: Over 1,800 
  • Purchase Cost: $59 to $119 
  • Incorporated Exchange: Yes 
  • Device Size: Nano S: 56.95 mm × 17.4 mm × 9.1 mm, 16.2 g
    Nano X: 72 mm × 18.6 mm × 11.75 mm, 34 g
  • Mobile App: iOS/Android 
Pros
  • Optional Bluetooth

  • Ledger Live mobile app

  • Durable steel case

Cons
  • No touchscreen

  • Closed source firmware

  • Had a marketing database breached

At a Glance

  Trezor Ledger
Type of Wallet Cold Cold 
Currencies  1,649 Over 1,800 
Purchase Cost  53 to 164 Euro $59 to $119 
Incorporated Exchange  Yes Yes 
Device Size  One: 60 mm x 30 mm x 6 mm, 12 g Model T: 64 mm x 39 mm x 10 mm, 22 g Nano S: 56.95 mm × 17.4 mm × 9.1 mm, 16.2 g Nano X: 72 mm × 18.6 mm × 11.75 mm, 34 g
Mobile App  No iOS/Android 

Trezor vs. Ledger: Wallet Features

Trezor and Ledger are among the best Bitcoin wallets and offer similar features. 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 are uniquely shaped. All four devices connect to Linux, Windows, and Mac computers. However, Trezor users can only connect to Android devices, whereas Ledger also supports iOS phones. 

The Trezor models also feature larger displays, making it easier to read the screen. The Ledger One has a 128x64-pixel, organic light-emitting diode (OLED) screen versus the Nano S’s 128x32-pixel OLED display. The difference is more noticeable on both companies’ premium models, with the Trezor Model T offering a liquid crystal display (LCD) color touchscreen that’s 240x240 pixels. In contrast, the Ledger Nano X display is an OLED 128x64 pixels. 

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

Trezor vs. Ledger: Currencies

Ledger has the edge for supported currencies, allowing users to store more than 1,800 different coins and tokens compared to 1,649 supported by Trezor. Users can hold popular altcoins, such as Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Stellar (XLM). While Ledger Nano S and Nano X support the same coins, the Trezor One supports fewer currencies than the Model T.

Notably, there are a few coins the Trezor One doesn’t support, including Cardano (ADA), Ripple (XRP), Monero (XMR), Eos (EOS), Tezos (XTZ), and Binance Chain (BNB). In addition, neither Trezor device supports Uniswap (UNI), Avalanche (AVAX), Graph Token (GRT), yearn.finance (YFT), Celo (CELO), Ocean Token (OCEAN), or Reef Finance (REEF). In comparison, all of these coins can be stored on both Ledger devices. 

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

Trezor vs. Ledger: Security

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

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

All four devices support BIP39 (Bitcoin Improvement Proposals) passphrases. But, only the Trezor Model T offers Shamir Backup for improved private key security. It’s important to note that Ledger lost some public confidence after a breach of a marketing database in 2020 that exposed people’s contact information. Likewise, Kraken’s security division could hack Trezor hardware wallets when they obtained the physical devices as part of vulnerability testing. 

Trezor vs. Ledger: Price

Trezor and Ledger offer two devices each. The Trezor One and Ledger Nano S cost about the same, 53 Euro for Trezor and $59 for Nano S. These two 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 onto Ripple (XRP), Monero (XMR), or Cardano (ADA) will prefer the Ledger Nano S. 

The premium devices offered by Trezor and Ledger are very different in price and appearance. The Trezor Model T costs 164 Euro, making it much pricier than the Ledger Nano X, which is $119. However, the Trezor Model T has a color touchscreen, making it easier to use, whereas 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 storage will be pleased with the low-cost Trezor One or Ledger Nano S. But, if you want Bluetooth, opt 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 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 about the same between the devices. 

The Trezor Model T earns slightly higher ratings for ease of use over the Ledger Nano X due to the color touchscreen. Although the Nano X is slightly larger than the Nano S, with a bit more spacing between the physical buttons, the screen is still harder to read than the Trezor. However, it’s easier to connect the Ledger Nano S to a cell phone via Bluetooth, whereas the Trezor models require a USB connection. 

Trezor vs. Ledger: Mobile App

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

Although Trezor doesn’t currently have a mobile app, the company plans to introduce one in the fourth quarter of 2021. Instead, users install either a Chrome extension or the Trezor Bridge that corresponds with their operating systems. Trezor offers the Trezor Suite as a desktop app, providing access to portfolio information and the incorporated exchange. 

Furthermore, both companies support third-party wallet applications, such as MyEtherWallet, MetaMask, and MyCrypto. But only Trezor connects with Exodus, while Kyber Network wallet users must use Ledger. Overall, Trezor offers about 15 third-party wallets versus 24 offered by Ledger. 

Final Verdict

The secure hardware wallets designed by Trezor and Ledger are user-friendly and safe for storing 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 Tezos. Meanwhile, the more expensive Trezor Model T features a touchscreen that is easier to read and use. 

Although it’s a tough call, Ledger edges out 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 with 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 physical USB-like devices. The cold wallets allow users to have full control over their private keys and assets. Unlike hot wallets, Trezor and Ledger devices enable users to view coins without an internet connection or computer. In short, their hardware wallets are like keeping money in a home safe that’s 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 must connect to the internet to set up their device and passphrases. Trezor models and the Ledger Nano S use a USB cable for internet connection, while the Ledger Nano X also supports Bluetooth. The process is similar for both companies, except Ledger offers a desktop and mobile application, whereas Trezor provides a Chrome extension or desktop application. 

People transfer their crypto from hot wallets to their hardware wallet, where it remains until they sell, trade, or move it to an exchange or digital wallet. Both Trezor and Ledger let users see their asset portfolio and use an incorporated crypto exchange. 

Is the Trezor Wallet Safer Than Ledger?

Some users believe the Trezor Wallet is safer because its firmware is open source, meaning people can view the code and report weaknesses. In addition, Trezor provides Shamir Backup on the Model T device but doesn’t have Bluetooth. Ledger passphrases are entered on the Ledger devices, and users never need to use a keyboard, which prevents keylogging security hacks. In contrast, Ledger One models require users to enter the passphrases into 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 alike in capability and price, making both a good choice for new users holding a few different types of cryptocurrencies. But, while expensive, the Trezor Model T has a touchscreen, making the process of adding or moving coins much easier than the smaller displays found on the Ledger devices and Trezor One model. 

However, Ledger may be a better fit for travelers wanting to use their crypto while on the go. It connects to iPhones and Android devices, offers optional Bluetooth on the Nano X, and has a mobile application. 

Methodology

We compared Trezor versus Ledger by looking at the devices offered by both companies, including features, supported currencies, and cost. In addition, we reviewed security measures on the physical devices and those taken by the individual companies. We also considered ease of use, availability of mobile apps, and features provided by their wallets and corresponding platforms.

Article Sources

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  1. CoinTelegraph. "Trezor Wallets Can Be Hacked Kraken Reveals." Accessed July 8, 2021.