Winner: Ledger
Thanks to the hardy stainless steel incorporated into the design of all Ledger devices and the Ledger Stax's superior touch screen, Ledger is the winner in this category.
Trezor vs. Ledger
We size Trezor and Ledger wallets up against one another to see which hardware wallet brand comes out on top
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Trezor and Ledger have been the two leading manufacturers of crypto hardware wallets since 2013 and 2014, respectively.
Some differences between the wallets these companies have brought to market include cost, ease of use and the number of supported digital assets.
We've compared Trezor head to head with Ledger to help you decide which is best for your cold storage needs.
Trezor vs. Ledger wallets overview
| Trezor Model One | Ledger Nano S Plus | Trezor Model T | Ledger Nano X | Ledger Stax | |
|---|---|---|---|---|---|
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| Dimensions | 60 x 30 x 6mm | 62.39 x 17.4 x 8.24mm | 64 x 39 x 10mm | 72 x 18.6 x 11.75mm | 85 x 54 x 6mm |
| Display | 128×64px OLED screen | 128 x 64px OLED screen | 240 × 240px LCD touch screen | 128 × 64px OLED screen | 672 x 400px; 3.7in curved electronic ink (e-ink) touch screen |
| Security mechanism | ARM Cortex-M3 embedded-arm processor @ 120Mhz | Secure element chip | ARM Cortex-M4 embedded-arm processor @ 168Mhz | Secure element chip | Secure element chip |
| Security certifications | CE and RoHS certified (consumer safety, health and environmental health award | CSPN (First Level Security Certificate); CC EAL 5+ rating | CE and RoHS certified (consumer safety, health and environmental health award | CSPN (First Level Security Certificate); CC EAL 5+ rating | CSPN (First Level Security Certificate); CC EAL 5+ rating |
| Connection | USB-A, WebUSB, Micro USB (for mobile) | USB-A to USB-C | USB-C (for mobile), WebUSB | USB-A to USB-C; Bluetooth | USB-C to USB-C; Bluetooth |
| Compatibility | PC (Windows 10+, macOS 10.11+ and Linux), Mobile (Android) | PC (Windows 8+, macOS 10.10+ and Linux), Mobile (Android) | PC (Windows 10+, macOS 10.11+ and Linux), Mobile (Android) | PC (Windows 8+, macOS 10.10+ and Linux), Mobile (Android and iOS) | PC (Windows 10+, macOS 12+, Linux Ubuntu LTS 20.04+), Mobile (Android and iOS) |
| Backup | 12-24-word seed phrase | 24-word seed phrase | 12-24-word seed phrase | 24-word seed phrase | 24-word seed phrase | Coin support | 9,000+ | 5,500+ | 9,000+ | 5,500+ | 5,500+ |
| Staking | Yes, but only when linked to third-party wallets | Yes | Yes, but only when linked to third-party wallets | Yes | Yes |
| NFT management capability | ✅ | ✅ | ✅ | ✅ | ✅ |
| Exchange built in to native software (Ledger Live and Trezor Suite) | ✅ | ✅ | ✅ | ✅ | ✅ |
| Price (USD) | $59 | $79 | $179 | $149 | $279 |
Trezor vs. Ledger: Physical features
| Trezor Model One | Trezor Model T | Ledger Nano S Plus | Ledger Nano X | Ledger Stax | |
|---|---|---|---|---|---|
| Connection | USB-A, WebUSB, Micro USB (for mobile) | USB-A to USB-C | USB-C (for mobile), WebUSB | USB-A to USB-C; Bluetooth | USB-C to USB-C; Bluetooth |
| Feel/appearance | Plastic casing; lightweight; shaped like a rectangle with a triangle below it; two buttons on front of facade | Plastic casing; lightweight; shaped like a rectangle with a triangle below it (and larger than Model One); touch screen | Stainless steel swivel outer shell and plastic casing; hearty weight; shaped like a flash drive; two buttons at top | Stainless steel swivel outer shell and plastic casing; hearty weight; shaped like a flash drive; two buttons at top | Aluminum and plastic; embedded magnets for stackability; shaped like 5 credit cards stacked on top of one another |
| Display | 128×64px OLED screen | 128 x 64px OLED screen | 240×240px LCD touch screen | 128 × 64px OLED screen | 672 x 400px; 3.7in curved electronic ink (e-ink) touch screen |
| Battery | ❌ Must be plugged in to function |
❌ Must be plugged in to function |
❌ Must be plugged in to function |
✅ Can function without being plugged in |
✅ Can function without being plugged in |
All Trezor and Ledger devices connect via USB, but only the Ledger Nano X and the Ledger Stax connect via Bluetooth and have internal batteries.
Ledger devices also feel a bit more hearty than Trezor devices. This is largely due to the stainless steel swivel cover on the Ledger S Plus and the Ledger Nano X as well as the fact that the Ledger Stax is made with aluminum.
The Ledger Nano X, Nano S Plus and Trezor Model One all feature two buttons for scrolling and enabling yes-no decision-making. The Trezor Model T and the Ledger Stax have touch screens, but the touch screen for the Ledger Stax is larger and of a higher quality than the Trezor Model T's.
Trezor vs. Ledger: Supported assets
| Trezor Model One | Trezor Model T | Ledger Nano S Plus | Ledger Nano X | Ledger Stax | |
|---|---|---|---|---|---|
| Coin support | 9,000+ crypto tokens and coins | 5,500+ crypto tokens and coins | 9,000+ crypto tokens and coins | 5,500+ crypto tokens and coins | 5,500+ crypto tokens and coins |
| NFT private key storage | ✅ | ✅ | ✅ | ✅ | ✅ |
| NFT support | Trezor Suite does not provide native support to view or manage NFTs.
Connect your Trezor wallet to a Web3 wallet ( MetaMask, for example) to view your NFTs on the Ethereum network |
Ledger Live provides native support to view and manage NFTs on the
Ethereum and
Polygon blockchains.
Connect your Ledger device to a Web3 wallet to view and manage NFTs stored on other blockchains. |
|||
All Ledger devices support a broader range of coins and tokens than either Trezor device.
You can store your NFTs' private keys on major blockchains on any Trezor or Ledger device.
But Ledger Live — the software for Ledger hardware wallets — provides better native support for NFT management than Trezor Suite, the native software for Trezor hardware wallets.
Winner: Ledger
Ledger's wallets were the clear winner in this category because of their broad coin, token and NFT support.
Trezor vs. Ledger: Security
| Trezor Model One | Trezor Model T | Ledger Nano S Plus | Ledger Nano X | Ledger Stax | |
|---|---|---|---|---|---|
| Security chips | ARM Cortex-M3 embedded-arm processor @ 120Mhz | ARM Cortex-M4 embedded-arm processor @ 168Mhz | Secure Element | Secure Element | Secure Element |
| Certifications | CE | CE | CC EAL 5+ | CC EAL 5+ | CC EAL 5+ |
| Other security info | Designed with open-source code, which can be audited | Designed with open-source code, which can be audited; offers Shamir backup system | Designed with closed-source code, which cannot be audited | ||
In 2020, Kraken Security Labs identified a security flaw in Trezor wallets, and Trezor has since changed the architecture of its wallets to remedy this.
No such vulnerability has ever been discovered in a Ledger wallet, nor has a Ledger wallet ever been successfully hacked. With that said, because Trezor hardware wallets are designed with open-source code and Ledger wallets are designed with closed-source code, it's easier for people or institutions to find a flaw in Trezor wallets.
Thanks to the Secure Element chip that Ledger uses in its wallets — the same chip used in credit cards and passports — Ledger has one of the best security track records of any hardware wallet maker on the market today.
Trezor hardware wallets are CE-certified. CE stands for "Conformite Europeenne" — French for European Conformity — and certifies that a product meets the consumer safety and environmental health standards.
Ledger hardware wallets have CC EAL 5+ certification. One of the main factors to consider for EAL (Evaluation Assurance Level) certification is whether a device can be penetrated in a hack. CC EAL 5+ is the highest level of security against penetration tests.
The Trezor Model T offers the Shamir backup system, which allows you to generate up to 16 recovery seed phrases instead of a single recovery seed phrase.
Using the Shamir backup system, you set a threshold for the number of seed phrases required to recover a wallet. This reduces the risk associated with losing access to your crypto wallet if you lose a single recovery seed phrase.
Winner: Draw
While no Ledger wallet has ever been hacked, Trezor's Shamir backup system offers a dimension of security that no Ledger wallet offers.
Trezor vs. Ledger: Built-in software
| Trezor Suite | Ledger Live | |
|---|---|---|
| User interface | Clean; intuitive; good portfolio overview | Clean; intuitive; good portfolio overview |
| Staking | No staking cryptos via Trezor Suite; sync Trezor wallet with a Web3 wallet to stake cryptos | Stake a handful of cryptos via Ledger Live; sync Ledger wallet with a Web3 wallet to stake cryptos |
| Built-in exchange | ✅ | ✅ |
| Lend option | ❌ | ✅ Via Compound |
| Mobile software app | ✅ For Android |
✅ For Android and iOS |
Ledger Live allows you to stake a handful of crypto assets through the app's native interface, which Trezor Suite doesn't support. But both Trezor and Ledger devices can be connected to third-party Web3 wallets if you do want to stake your assets.
The built-in swaps on both Trezor Suite and Ledger Live are powered by Changelly. Through the built-in swap function, you can trade over [150] crypto coins and tokens.
Ledger Live allows you to borrow and lend your crypto through the Compound protocol, while Trezor Suite has no equivalent feature.
Both Trezor Suite and Ledger Live have mobile app versions, but only the Ledger Nano X is compatible with the Ledger Live mobile app.
Winner: Ledger
Ledger was the winner in this category because of its staking and lending options via Ledger Live and the Nano X and Stax's compatibility with the Ledger Live mobile app.
Trezor vs. Ledger: Web3 apps
| Trezor | Ledger | |
|---|---|---|
| Staking |
|
|
| Borrowing/lending |
|
|
| NFTs |
|
|
Ledger Live offers a gateway to some DeFi and NFT management, but Trezor Suite performs poorly in this department.
Use Ledger Live as an interface to stake a handful of crypto assets — including ETH, DOT and SOL — and lend and borrow via Compound protocol.
You can also manage NFTs on Ethereum and Polygon via Ledger Live.
Winner: Ledger
Ledger was the clear winner in this category because of Ledger Live's numerous Web3 capabilities.
Trezor vs. Ledger: Ease of use
| Trezor Model One | Trezor Model T | Ledger Nano S Plus | Ledger Nano X | Ledger Stax | |
|---|---|---|---|---|---|
| Physical interface |
|
|
|
| 3.7in curved electronic ink (e-ink) touch screen; 672 x 400px |
| Software interface |
|
|
|||
If you prefer a touch screen to interact with the hardware wallet itself, the Trezor Model T is the way to go.
If you prefer physical buttons, the Trezor Model One, the Ledger Nano S Plus and the Ledger Nano X are all good options. Of the three devices, the Nano X has the most space between its two buttons.
To wirelessly manage your crypto on the go, the Ledger Nano X's Bluetooth capability provides the most convenient option of the bunch.
Winner: Ledger
Ledger won this category because the Stax's touch screen is more advanced than the Trezor Model T's touch screen and the Ledger Nano X and the Ledger Stax both have Bluetooth capability.
Trezor vs. Ledger: Price
| Trezor | Ledger |
|---|---|
| Model One - US$59 | Nano S Plus - US$79 |
| Model T – US$179 | Nano X - US$149 |
| Stax - US$279 |
The Trezor Model One and the Nano S Plus have comparable prices, but the Nano S Plus offers a broader range of features and a higher level of security than the Model One.
The Model T and the Ledger Stax — the top-tier models from Trezor and Ledger — both offer a full suite of features. They both have a touch screen, but the Ledger Stax's touch screen is more advanced and the wallet is Bluetooth-enabled.
Of these 5 devices, the Nano S Plus offers the most bang for your buck. For the moderate price of US$79, the Nano S Plus has most of Nano X's and the Ledger Stax's functionality and a great deal more features than Trezor's wallet that's comparable in price: the Model One.
Winner: Ledger
Ledger was the winner in this category because of how much value the Nano S Plus offers at such a fair price point.
Trezor vs. Ledger: Company stats
| Trezor | Ledger | |
|---|---|---|
| Year founded | 2013 | 2014 |
| Headquartered | Prague, Czech Republic | Paris, France |
| Employees | 11-50 | 201-500 |
| Monthly site traffic | 1.3M | 4.5M |
| Twitter followers | 183K | 553K |
Final verdict
Both Trezor and Ledger make industry-leading hardware wallets for storing the private keys to your crypto safely offline.
Either wallet maker can offer you a legitimate and secure product, so which you choose will come down to your budget and cold storage needs. But in this comparison, it was hard to overlook Ledger's strengths; it took out 6/7 of our categories and tied in one.
Winner: Ledger
A summary of why we chose Ledger as our overall winner:
- Ledger wallets support more crypto coins and tokens than Trezor wallets
- Ledger wallets — in conjunction with Ledger Live — make it easier to manage NFTs
- Ledger wallets offer more features for their price points
- The Ledger Nano X and Stax are Bluetooth enabled and compatible with iOS
- Ledger offers a higher level of security with the Secure Element chip
- The Ledger Stax offers the most advanced touch screen of any hardware wallet yet
Safe storage for your assets is one of the most crucial parts to owning crypto, so make sure you've researched the best crypto wallets on the market and considered some hardware wallet alternatives before deciding which is best for you.
Methodology: Trezor vs. Ledger
We compared Trezor and Ledger hardware wallets based on a broad range of criteria. These criteria included the physical and software features, supported digital assets and NFTs and price. We also looked at how easy these devices are to use, how they engage with Web3 dapps and the level of security that they provide.
The prices and information used in this comparison are accurate as of January 2023.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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