Ledger and Trezor are multi-crypto and Bitcoin hardware wallets that store your private keys in an offline mode. Both wallets are compatible with several interfaces, apps and other third-party wallets.
Ledger and Trezor offer top-of-the-line security for your crypto assets. Both being big names in the crypto space, they are not exactly the same. Their differences are to be found in their software being closed or open-source, their pricing, additional features and designs. In this hardware wallet Ledger vs Trezor review, we will compare the two to see what each has to offer.
- 1 Main differences
- 2 Trezor Wallet vs Ledger: Design
- 3 Trezor vs Ledger: Supported Operating Systems
- 4 Ledger Wallet vs Trezor: Pricing
- 5 Ledger vs Trezor Security
- 6 Trezor vs Ledger Supported Coins
- 7 Ledger vs Trezor: Compatibility With Other Apps
- 8 Trezor vs Ledger: Ease of Use
- 9 Trezor vs Ledger: Mobile App
- 10 Which Is Better: Ledger or Trezor?
- 11 More Information
|Wallet||Source code||Bitcoin only?||Communication with laptop or phone||Notes|
|Trezor||Open Source||Optional firmware||USB||A passphrase is recommended for a fully secured wallet.|
|Ledger||Proprietary||No||USB||Various customer data leaks in the past.|
Trezor Wallet vs Ledger: Design
The Ledger wallets have a steel casing while the Trezors are made of plastic. The steel casing makes the Ledgers more durable than the Trezors. Comparing the two in size, Trezors are wider than Ledgers. The wider Trezors have bigger screens to display the recovery phrase and recovery seed for your private key. The screen helps to ensure that the displayed information is right. Ledger devices have smaller screens that do not support colour, making it difficult to read for people who struggle to read the fine print.
Both devices have two buttons used to manage their software. There is good space between the two buttons on the Trezor device, making it easier to operate. The buttons on the Ledger device are too close, making it hard to press one button without pressing the other one accidentally.
Trezor vs Ledger: Supported Operating Systems
Both Ledger and Trezor devices are compatible with smartphones and computers. Trezor supports Windows 10, macOS 10.11 and higher, Linux and Android operating systems. On the other hand, Ledger supports Windows 8+, macOS 10.10+, Android 7+, and Linux excluding ARM Processors.
Ledger Wallet vs Trezor: Pricing
Both Ledger and Trezor wallets have two models; the first entry model and the second entry or second generation model. The first entry models for both wallets are fairly cheaper compared to the next level wallets. The Ledger Nano S costs $59 and the Trezor One costs $55. The second entry devices are expensive, with the Trezor Model T costing $159 and the Ledger Nano X $119. The high price of the second entry wallets is justified in the many features they come with.
Ledger vs Trezor Security
Being hardware wallets, your private keys are stored offline making the devices almost impossible to hack. They do not connect to the internet directly, instead, they are connected indirectly through an internet-enabled device. Even then, the devices do not share sensitive data.
When entering passwords in Trezor wallets, you enter the password via the keyboard of the connected device (e.g. computer, etc) making the Trezor device vulnerable to hacking. For Ledger wallets, there’s a password app which let’s you enter the password directly from the Ledger device.
Additionally, Trezor devices use tamper-evident seals to ensure the device is not tampered with before it is sold. They are usually sealed using industrial glue which is hard to put back on. So, when you are given a Trezor device with a damaged or broken seal, do not buy it. Ledger on the other hand uses a computing base that is validated using cryptographic proofs. You can check the validity of the Ledger device by performing an attestation check.
Trezor vs Ledger Supported Coins
Both Ledger and Trezor hardware wallets support a wide range of cryptocurrencies, bitcoin and altcoins as well. Ledger wallet supported coins are a lot more compared to Trezor wallet supported coins. Ledger users can hold more than 1800 different coins while Trezor wallet supported coins are about 1,649. Ledger Nano S and Ledger Nano X support the same coins. However, Trezor Model T supports more currencies compared to Trezor One. Looking at the number of supported coins, the Ledger wallet can store more coins compared to the Trezor device. However, the support for popular tokens carries more weight. The major coins that Trezor One does not support include Cardano, Monero, EOS, and Ripple. If you want to trade in these coins, you can opt to use the Trezor Model T or the Ledger Nano S.
Ledger Nano vs Trezor One. The main difference between the two is that Ledger Nano S supports a lot more coins unlike Trezor One supports only a few currencies.
Ledger vs Trezor: Compatibility With Other Apps
Both Trezor and Ledger wallets are compatible with a large number of apps, some of which are common with both devices. Ledger is compatible with Mycelium, Binance, Copay, MyCrypto, MyEtherWallet, Magnum, Ledger Live, Electron Cash, GreenBits, etc.
The Trezor device is compatible with Copay, MyEtherWallet, Magnum, MultiBitHD, Electrum, Mycelium, GreenBits, MyTrezor, etc.
Trezor vs Ledger: Ease of Use
Both Trezor and Ledger are easy to use. The setup and ease of use are relatively the same for both devices. They both have two physical buttons and smaller screens which make them a bit tricky to navigate, especially for people who are used to touchscreens.
In terms of ease of use, Trezor Model T is a bit easier to use compared to Ledger Nano X. Ledger wallet requires an extra step to install the Ledger Live app. Additionally, the Trezor wallet can interact well with a computer using an interface known as MyTrezor.com.
Also, Trezor has a larger screen which makes it easier to use compared to that of Ledger. You don’t need to install extra apps on Trezor. For Ledger, you need to install an app for each cryptocurrency. For instance, if you want to use Bitcoin, you need to install BTC app.
Trezor vs Ledger: Mobile App
Ledger uses a Live application that can be downloaded for desktop and mobile devices. You can use the application to manage accounts, check crypto balances, send and receive crypto. Even during the initial setup, you will need to use the Live application.
On the other hand, Trezor does not have a mobile app, but instead, it uses Chrome extension or Trezor Bridge. However, Trezor has Trezor Suite, a desktop app that provides portfolio details and the exchange that has been incorporated.
One common thing about both Trezor and Ledger is that they all support third-party applications. You can integrate them with applications like MyEtherWallet, MetaMask and MyCrypto.
Trezor One vs Ledger Nano S. There is a difference between Trezor vs Ledger Nano S in terms of the coins supported. Trezor One supports more coins compared to Nano S device. Also, there is a difference between price and appearance for premium devices.
Which Is Better: Ledger or Trezor?
The Ledger and Trezor devices are both big players in the crypto space with several similarities. However, there are a few differences that set them slightly apart. Your choice of device will depend on how much money you are willing to part with, what you want the device for, and the coins you want to store on it. Either choice you make, both devices are great.