One of the safest ways to store your crypto is via a hardware wallet. With a hardware wallet, your private keys remain within the device instead of online as is the case with many desktop and exchange wallets. This means there’s less chance of a hacker compromising your crypto assets unless they physically obtain your wallet and identify the private keys for it.
With several high-profile hacks making headlines of the years, quality hardware wallets are in high demand. In this article, we’ll examine two of the most popular ones: Ledger and Trezor—delving into their features, including pricing, security, durability, and more.
Ledger vs Trezor: Security
The security of hardware wallets, in general, is rock solid, and that holds especially true for both Ledger and Trezor.
While their wallets may be able to stand up against the worst hackers have to throw at them, the same can’t be said for Ledger’s database which underwent a significant hack in late June resulting in a data breach.
The exploit unveiled the names, addresses and phone numbers of 200,000+ customers. Fortunately, none of Ledger’s wallets were compromised as a result of the hack. However, the breach is definitely something worth noting when considering buying a wallet from Ledger.
It’s important to note, however, that both Ledger and Trezor wallets themselves are extremely secure. This is primarily because the devices are designed to be kept offline when not in use, and therefore hidden away from prying eyes. Hardware wallets only need to be connected to the internet when sending funds, and, in some cases, receiving transactions.
Nevertheless, hardware wallets are often targeted by phishing scams meaning that users should be extremely cautious about the accompanying software and updates they download.
Ledger vs Trezor: Assets & App Compatibility
Both wallets support a lot of different assets. Trezor supports 1000+ different crypto assets, while Ledger supports 1200+. That number includes tokens, wallets and other apps that make tracking your funds easier.
The biggest difference is that Ledger provides native Ethereum support, while Trezor only provides support via its beta wallet meaning that you’ll have to trust in the beta or use third-party wallets such as MyEtherWallet, MyCrypto and MetaMask in order to store ETH—which can add an additional layer of risk.
Ledger also allows you to connect your wallet to your mobile device with Bluetooth, whereas Trezor doesn’t. However, Trezor does permit you to split your seed phrase into groups creating a much more secure method of back-up—a feature that Ledger overlooks.
Both wallets come with their own proprietary software along with plenty of independent apps.
Ledger vs Trezor: Ease of Use & Screen
The higher-end Trezor Model T has a full-colour touchscreen, and it’s much easier to use compared to any Ledger wallet. Both the entry-level Trezor One and the Model T boast larger screens, while some reviews claim that it’s harder to read the screen on Ledger wallets.
For navigation, both the Ledger and the Trezor One have two buttons that are used for passcodes and entering info. Again, that could be difficult for certain users and definitely worth considering when weighing your options.
Ledger vs Trezor: Build and Size
Ledger uses stainless steel giving the Ledger Nano a more premium feel and a sleeker finish. Trezor on the other hand uses plastic on both its models. The stainless steel on Ledger wallets also makes it more durable in the long-run since it can handle far more physical wear and tear.
Another important note to add is the battery. All models except for the high-end Ledger nano X use power through a USB cable. The Nano X uses a separate battery, which generally lasts 8 hours on a full charge.
In terms of size, Trezors are slightly bigger than Ledgers, but neither is too big or too small by any measure. Ledger is built like a flash drive while Trezor is larger due to the size of the screens.
Ledger vs Trezor: Pricing
Pricing is one of the most important factors for anyone who’s looking to purchase a wallet.
For the lower-end models, Ledger starts at $59, while the Trezor starts at $55. On the higher end, the Ledger Nano goes up to $119 while Trezor goes up to $169, making the Trezor model T a touch more expensive.
Ledger vs Trezor: Conclusion
While both brands represent good options, the final decision will rest upon your preferences and the features you value most. Each wallet offers something the other doesn’t. For example, Ledger is smaller in size and has smaller screens but uses higher quality materials. Ledger also supports more assets and offers mobile device support while working natively with Ethereum.
However, Ledger has been hacked with the personal info of many customers compromised, whereas Trezor has never had that issue. Pricing is similar at the lower end, but Trezor is more expensive at the higher end.
Regardless, physical storage is significantly less risky than storing your funds in an online wallet. Hopefully, with the information presented in this article, you’ll have greater insight on your preferred choice.
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