When you decide to buy cryptocurrency, one of your first choices is where you want to store it. If you have decided on a hardware wallet for all or some of your crypto, then you will likely find yourself choosing between Ledger vs Trezor, the two leading brands of hardware wallets.
But when it comes to Trezor vs Ledger which should you choose?
A Refresher on Hardware Wallets
Before we look at Ledger versus Trezor, let’s make sure you have a clear idea of what hardware wallets are. Hardware wallets are physical devices that store your cryptocurrency offline.
When you want to use the crypto or put more on the wallet, you need to connect the wallet to the internet somehow, typically via your computer.
Hardware wallets are one of the most secure cryptocurrency storage methods because they are not connected to the internet. However, they add some extra steps when you want to use the wallet, especially compared to online wallets. There is also still a risk of firmware failure.
Because of this combination of factors, hardware wallets are most useful for storing larger amounts of cryptocurrency that you don’t plan on using anytime soon. Most people will keep the majority of their crypto in a hardware wallet, then store whatever they want easily accessible in an online, desktop, or mobile wallet.
Ledger vs. Trezor Comparison: Which is Better?
Both Ledger and Trezor are industry leaders in the world of hardware wallets. Both offer multiple devices to choose from and have similar features.
To help you choose between the two, we’ll compare how the two compare in some of the most important categories.
Range of Wallet Offerings
Whether you are interested in Trezor or Ledger wallets, you will get the choice of two devices.
Ledger Hardware Wallets
Ledger offers the Ledger Nano X, which starts at $119, or the Ledger Nano S, which starts at $59.
Trezor Hardware Wallets
Trezor offers the Trezor Model T, which starts at $169.99, or the Trezor One, which starts at $55.
There is also a Trezor One Metallic version, which is made using anodized aluminum for extra durability, has a special engraving, and costs $584.86.
Trezor vs Ledger Packages
If you want to buy more than one device, both brands also offer packages that come with savings. The Ledger Backup Pack includes both the Ledger Nano S and the Ledger Nano X, while the Trezor Ultimate Pack includes the Trezor Model T and the Trezor Model One, plus a Cryptosteel Capsule.
Ledger vs Trezor on Price: Ledger Wins
So, Ledger and Trezor both offer two main wallets with similar price points. The budget-friendly versions cost within $5 of each other, while Trezor’s upgraded version is about $50 more than Ledger’s.
Crypto Assets Supported: Ledger Wins, But It May Not Matter for You
When you look at the number and range of cryptocurrency assets supported by Ledger and Trezor, the former comes out ahead.
Trezor’s hardware wallets support more than 1,000 cryptocurrencies, while Ledger’s support more than 1,100.
The caveat here is that those new to cryptocurrency ownership are unlikely to need to buy the
100 or so cryptocurrencies that Ledger supports and Trezor does not. However, if you want the room to grow your crypto ventures in the future, it may make a difference.
Display and Use: Trezor Wins
There will be a learning curve with either Trezor or Ledger wallets. However, both wallets offer support and instructions on their website, and you should get the hang of using either wallet fairly quickly.
That being said, the screen on Trezor wallets is much more intuitive than Ledger’s for those unfamiliar with crypto wallets. Ledger relies on two buttons for functionality, which you will need to get the hang of and can make it time-consuming to enter a PIN. By contrast, the Trezor screen has enough space for multiple buttons, letting you enter your PIN by clicking directly on numbers in a familiar way.
Trezor vs Ledger on Size: Ledger Wins
If your goal is to have a sleek hardware wallet that is discreet and takes up barely any room, then you should choose Ledger. It is slim and similar in shape to a USB, although with slightly different dimensions.
While Trezor is not thick, it is wider than Ledger. This helps with the display and ease of use, but it does mean it takes up more room.
This may not be a concern for you, depending on where you store it.
Security and Reputation: Trezor Wins, But Barely
You are unlikely to have any security concerns whether you choose Ledger or Trezor. There are no reports or hacks or scams that do not involve user error (like storing your seed phrase in an unsafe way). Professionals have shown that with time, physical access, and sophisticated methods, they can hack either.
The only difference in terms of security is that Trezor has fully open-source code while Ledger does not. This leaves the possibility of Ledger putting malicious code in devices that could potentially steal your crypto. However, this would have to be done by Ledger itself, and it is incredibly unlikely due to the consequences.
Overall, you should feel secure with either brand. Still, if you want to worry about worst-case scenarios, the fact that Trezor’s code is open-source gives it a slight advantage.
The following offers a convenient summary of how the two compare in each category:
- Price: Ledger Wins
- Crypto Assets Supported: Ledger Wins (But Both Support Over 1,000)
- Display and Use: Trezor Wins
- Size: Ledger Wins
- Security: Trezor Wins, Barely
Looking at it another way, Trezor wallets excel in:
- Ease of Use
While Ledger wallets excel in:
- Supported Crypto Assets
Which Hardware Wallet Should I Buy, Trezor or Ledger?
You will not go wrong whether you choose a Trezor or Ledger hardware wallet, as it comes down to personal preference.
If you want something sleek that supports more cryptocurrencies and don’t mind learning to use a two-button screen with minimal display space, consider a Ledger model.
If you want a larger display that is easier to use and don’t mind missing out on the ability to store a handful more cryptocurrencies, consider a Trezor model.