Ledger vs Trezor: Where Should You Store Your Crypto Holdings?

Ledger vs Trezor

Can’t decide the best wallet for your crypto? We are here to help!

As lucrative as the cryptocurrency world is, it comes with a high risk of losing your crypto because of hacks. To make sure that your crypto holdings stay safe with you, you must carefully choose effective storage solutions for them. One of the ways to keep your crypto secure is by holding it in a hardware wallet. 

Hardware wallets are physical storage devices for your cryptocurrency that are not connected to the internet (because of which they are called cold storage). Their lack of connectivity makes them a safer option as opposed to keeping your crypto holdings inside a software wallet (mobile or computer applications, like Coinbase or BlockFi).

While there are a lot of hardware wallet options out there in the market, two of the most well-known ones are Ledger and Trezor. Here is a comparison of the two wallets to help you decide which one should be your go-to crypto wallet. 


The most important thing you need out of these wallets is security. Both wallets let you generate offline security keys and provide a recovery seed (a list of words in a specific order that helps you recover a wallet) which can be accessed using a personal identification number (PIN). So even if your wallet is lost, it still cannot be accessed without your PIN. 

For an additional layer of security, Ledger has a double chip base with the second chip being a bank-grade secure element (SE) to protect against hardware attacks. Trezor doesn’t use the same kind of secure hardware due to its closed-source nature, which the company believes is against the open and transparent nature of crypto.

The closed-source nature of Ledger’s hardware prevents third-party testing for vulnerabilities. However, a plus point of Ledger devices is that you can directly enter your password into the wallets, whereas for Trezor you need an additional keyboard to enter the password. Using an external keyboard opens up your wallet to vulnerabilities, like keylogging (using software to track everything a person types).  

The higher-end Trezor model, Trezor T, helps users secure their holdings on supported applications. Trezor T can be used as a password manager; it generates one-time passwords for supported apps. While this has nothing to do with the security of the wallet, it does protect your holdings online. 

Cost of the wallet

Both Ledger and Terzor have two different models of wallets—Ledger Nano S (US$59) & Ledger Nano X (US$119) and Trezor One (US$60) & Trezor Model T (US$190). 

Types of cryptocurrencies supported

Both Ledger and Trezor are multi-currency wallets that allow users to hold 1,800 and 1,649 cryptocurrencies respectively. However, Trezor One supports a smaller number of cryptocurrencies than Trezor Model T, whereas both models of Ledger support the same number of cryptocurrencies. 

Both wallet types also have incorporated crypto exchanges into their interface. One major difference is that users with ERC-20 tokens (tokens on the Ethereum network) on Trezor would need additional wallet software, like MetaMask, because these tokens have not been currently integrated into the Trezor wallet.

Hence, to keep them secure, additional wallet software is required. In contrast, ERC-20 tokens are directly supported on Ledger. Ledger also supports 24 third-party wallet applications as opposed to Trezor, which only supports 18.

Ease of use

Both Ledger’s and Trezor’s devices are easy to set up, and users are guided along every step. The lower-end models from both companies have a smaller display screen with buttons. Users might consider Trezor devices comparatively more comfortable to use because they have a bigger display than that of Ledger’s.

Both of these wallets have buttons to manage and navigate the software, but Trezor One’s buttons are easier to use than Ledger’s because they are spaced further apart from each other, preventing the risk of pressing both simultaneously. 

As far as the higher-end models are concerned, Trezor again takes the lead with its color touchscreen. However, an advantage of using Ledger is that it is compatible with mobile devices via Bluetooth, whereas Trezor requires a USB connection. 

Application compatibility

Ledger devices work with the Ledger Live application on mobiles (both Android and iOS) as well as the computer. Users can access the application to set up their wallets, manage accounts, check their crypto balances in real-time and make transactions. Trezor also has a desktop application called Trezor Suite and an Android application, which was launched in the latter half of 2021. Users can use the Trezor Suite to manage their crypto portfolios and access compatible exchanges. 

Besides supporting their own applications, both wallets are also compatible with a range of external apps. Ledger is compatible with apps, like MyEtherWallet, Binance, GreenBit, Magnum and Copay. Trezor also supports a lot of the same applications along with other apps, like MultiBitHD, Mycelium and Electrum. 

So… which one should you choose?

Before you make a choice, here is a summary of the key features of Ledger and Trezor wallets:

FeatureLedger Nano XLedger Nano STrezor OneTrezor T
Number of Cryptocurrencies supported1,8001,8001,649Supports fewer currencies than Trezor One and Ledger models
Ease of useHarder to use due to smaller screen and need for additional apps but has Bluetooth connectivityHarder to use due to closely located buttons and need for additional apps but has  Bluetooth connectivityEasy to use due to touchscreenEasy to use due to spaced out buttons
App compatibilityCompatible with a lot of apps and has its own Android and iOS appCompatible with a lot of apps and has its own Android and iOS appCompatible with a lot of apps and has its own Android appCompatible with a lot of apps and has its own Android app
SecuritySecure, with double chip baseSecure, with double chip baseNo double chip, but is open source for third party verificationNo double chip, but is open source for third party verification

The two wallet types share a fair bit of similar features with each other. Now the choice is yours, if you prefer a wallet that has a touchscreen and can be verified by third parties, Trezor might be the one for you. But, if you want a wallet that supports more currencies and is easier to connect to your phone, Ledger might be the better choice. You must carefully consider what your needs are before you settle on either of the wallets. 

Also read:

Image courtesy of Ledger and Trezor’s websites


Share on facebook
Share on twitter
Share on linkedin
Share on email


Top Must-Follow Productivity Influencers in 2023

Top Must-Follow Productivity Influencers in 2023

Productivity is a key aspect of success in today’s fast-paced world. Being productive enables individuals to balance their work and personal lives effectively while accomplishing their goals efficiently. To help you stay on track and reach your full potential, we’ve identified top influential productivity experts who provide valuable insights to maximize your efficiency in 2023.

What Can Drones Be Used For, and Do They Have a Future?

What Can Drones Be Used For, and Do They Have a Future?

In January 2023, Australian soldiers used drones to search for a missing woman. The drones helped them reach areas that might have been too challenging for a human to enter. For the past few years, the drone economy has been booming. Global investments in the industry amount to US$1.15 billion, with China leading the market.

2022 FIFA World Cup

The Most Controversial VAR Decisions at the 2022 FIFA World Cup

The footballing world has welcomed many new technological developments in recent times. Its goal is to make decision-making more accurate and provide a better experience for players and fans alike. These technologies include the video assistant referee (VAR), semi-automated offside technology (SAOT) and sensor-equipped footballs, all used extensively during the 2022 FIFA World Cup in Qatar.

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Starting a new business can be an exciting and challenging endeavor, with securing funding being one of the biggest obstacles. Traditional funding options, such as venture capital and angel investing, can be time-consuming, especially for new and untested businesses. In such cases, self-funding, or “bootstrapping”, might be a viable option.

Navigating Ghost Job Postings: How to Avoid Them

Navigating Ghost Job Postings: How to Avoid Them

Job searching can be a daunting task, especially with the risk of encountering scams or fraudulent job postings. Ghost job postings, which refer to open job positions that are not actively being filled, are a common issue that jobseekers should be aware of. According to a survey by New York-based financial consultancy Clarify Capital.

Can AI Help You Flirt Better

Can AI Help You Flirt Better?

“Excuse me, but I think you dropped something: my jaw.” This is the pick-up line the famous artificial intelligence (AI) chatbot ChatGPT dished out when we asked for some viable options. Not the most original, sure, but not bad for a trained algorithm.