A hardware wallet is a necessity for anyone who has investments in cryptocurrency. They keep your money safe, secure, and away from the tampering hands of scammers. Take a look at our comparison of the Ledger Nano S vs Trezor for more information on which wallet we think is best.
Ledger Nano S Vs Trezor: Which Is The Superior Wallet?
One of the biggest debates when it comes to hardware wallets is the Ledger Nano S vs Trezor. Both are excellent options for crypto security, but which one is better? In this article, we’ll take a look at both wallets and let you know what you think of each.
What Are Hardware Wallets?
Hardware wallets are at the frontlines of security when it comes to cryptocurrency. A lot of people make the mistake of keeping their coins on an exchange or on their computer. This is incredibly unsafe, and it’s easy for malware, a virus, or a scammer to get their hands on their keys and clear out your balance.
A hardware wallet will protect you from these threats. Storing your coins here means they’re safe and away from online threats. You will need to input a PIN that only you know and access your funds in an offline setting.
Losing or damaging your wallet isn’t the end of the world, either. The seed phrases - more on these ahead - will allow you to restore your currency and use it once again.
Those with smaller investments in the crypto space might not think a wallet is worth the money, but it usually is. You can pick up one of the wallets we’ve reviewed for $50-$60 right now, and that’s probably a fraction of what you have invested in crypto.
In other words, the hardware wallet is the backbone of crypto security. We recommend that everyone get one, and will be giving you our recommendation in the sections ahead.
The Ledger Nano S
Ledger is a cryptocurrency security company first. They develop hardware wallets to securely store your cryptocurrency for both companies and individual customers. There are a lot of products in the Ledger line, but one of the more individual-friendly wallets is the Ledger Nano
The Ledger Nano S is a small, compact, hardware wallet that looks a lot like a standard USB drive. It’s a bit bigger and more sturdy - a metal exterior protscts the valuable interior - but it fits comfortably in your pocket and is easy to carry around.
Apart from that, the Ledger Nano S is going to be a lot like any other cryptocurrency wallet you may have used in the past. You will choose a pin, plug it into the computer, and receive a seed phrase that allows you to make keys for the Nano S.
The seed will be the key to your Ledger, so you need to make sure it’s stored in a secure location. This means saving it in a Word or Excel document is not advised. Someone would be able to have complete control of your funds if a hacker was able to get their hands on a seed.
You will be able to control the Ledger Nano S from the two buttons you see on the side. The setup is simple and intuitive, with the hardest part making sure you copy the seed correctly.
The Ledger supports around 700 coins, with all of the major names in the list. You won’t be able to use the more obscure coins without downloading third-party software, but that’s relatively common with most hardware wallets.
The Trezor One is the newest addition to the Trezor line of wallets. The brand is owned by the company Satoshi Labs, which was founded in 2013 on the back of the cryptocurrency buzz. They create several different Trezor wallets - including the One - along with maps where you can find Bitcoin and a Bitcoin mining pool called Slush pool.
The Trezor One is a lot like the Ledger Nano S that we listed above. It’s designed for individuals and is small and compact like the Ledger Nano S. Unlike the Ledger; it’s not protected by a metal exterior.
You’ll find a similar number of supported coins when it’s all said and done. Some of the big names like Bitcoin, Ethereum, Zcash, and Dash are all supported within the Trezor wallet.
The Trezor is an offline wallet, which means it will never be connected to the internet. This security protocol is similar to that of a lot of other major hardware wallets of its kind.
The setup of the Trezor One is almost identical to that of the LEdger Nano S. You plug it into the computer, choose a PIN, enter the PIN on the device, and receive a seed you need to copy so you can create keys.
Ledger Nano S VS. Trezor
Although the Ledger Nano S and the Trezor occupy the same market in the cryptocurrency world, there are a few differences between them. Now, let’s get into the meat of the article and tell you the differences in the Ledger Nano S vs Trezor debate.
Since the two are so similar, a lot of consumers will want to know which one is better. Ahead, we’ll give you our thoughts and recommendation.
The idea behind the design of both the Trezor and the Ledger Nano S is the same. The companies want the devices to be portable and easily fit in your pocket. Both achieve this goal, though we lean towards the Ledger Nano S when it comes to the overall look of both wallets.
The Trezor is a bit thinner depth-wise because it doesn’t have the exterior of the Nano S, but it’s also a bit wider. The Nano S, on the other hand, looks more like a standard USB drive.
We also prefer the metal exterior of the Nano S for durability purposes. This wallet can take a drop or two, which is incredibly important. Breaking your wallet often means that the Bitcoin or other crypto you store on the wallet is gone, so durability is a massive concern, here.
For those reasons, we like the design of the Ledger Nano S better than the Trezor. Still, the Trezor provides a small, portable wallet that some users might like a bit better.
The price tag is one of the places where Trezor has the edge in the Ledger Nano S vs Trezor debate. All things being equal, the Trexor presents a better value.
Upon the release of both wallets - the Trezor One and the Ledger Nano S - the Nano S cost $$ while the Trezor One cost $$. The price has dropped for both since then, and you can now find the Nano S for around $$ on Amazon and the Trezor for about $$.
The price difference isn’t too much, though, especially since the overall price of both devices has lowered. Still, the Trezor is a bit cheaper than the Ledger Nano S if that’s the deciding factor for you.
The interface of both the Ledger Nano S and nthe Trezor are remarkably similar. Each lends themselves to ease of use and don’t require any previous knowledge before opening them up. You could easily transition from one to another without noticing much of a difference.
The design comes into play here as well, although that only gives a slight edge to the Trezor. The buttons are more visible and more difficult to hit by mistake, which we liked. Still, it’s difficult to give one wallet the edge over another when it comes to the interface and how easy it is to use them. They are both equally intuitive.
As we’ve covered, the Trezor and the Ledger Nano S support a similar number of currencies when it comes down to it. The Ledger, though, takes the edge here because of the standard support of these coins.
Yes, you’ll have to download some third-party software to include some of the more obscure coins with your Ledger, but they support all of the big names in the space by default. You can use Trezor for these coins as well, but you’ll have to use a third-party wallet for many of
You can certainly use both coins for the same applications, but there isn’t as much standard support with the Trezor, giving the Ledger Nano S the advantage in this category.
Which Is Better?
In our opinion, the Ledger Nano S is slightly better than the Trezor. This is because of the vast coin support of the Ledger combined with its design and durability. Apart from that, the two wallets are incredibly similar.
Trezor is still a trustworthy company with a good reputation at its back, but Ledger is far more popular in the cryptocurrency space right now. The design of their wallets is top-notch, and the support is nearly unmatched by other big-name brands.
You can’t really lose when deciding between the two of these wallets, however. The Trezor is a bit cheaper so it might make sense for those who want to save a few bucks on a portable hardware wallet. Still, if you’re buying a new one today, we think the Ledger Nano S is the better selection.