Two of the market leaders in the cryptocurrency hardware wallets are Ledger Nano S and TREZOR – both have their pros and cons.
We decided to do a comparison review of Ledger Nano S vs TREZOR to see which one has more value for money.
Because, when it comes to buying, selling, and investing in cryptocurrency, there are lots of considerations to be made.
Firstly you need to choose which currency you want to invest in, then you need to decide on a platform that allows you to purchase and trade.
But one of the most important decisions you need to make is how you will store your cryptocurrency safely and securely.
There are lots of options available such as web wallets (not very secure), desktop wallets (a bit more secure but still not great), paper wallets (not very practical) and cold storage hardware wallets.
The latter is by far the most secure way of storing your coins as they are not connected to the internet or a network, meaning they are protected from hackers, malware, and other methods of someone trying to get their hands on your currency.
A hardware wallet fits in the palm of your hand, is protected by passwords and codes, and is the most private and secure way of storing your crypto-coins.
Ledger Nano S vs TREZOR: Overview
- Name: Ledger Nano S/ TREZOR
- Type: Both are hardware wallets
Ledger: Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Litecoin, Dogecoin, Dash, ZCash, Ripple, Stratis, Komodo, PoSW, Ubiq, Expanse, PIVX, Vertcoin, Viacoin, Stealthcoin, NEO
TREZOR: Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Ethereum, Ethereum Classic, ZCash, Expanse, Ubiq, Dash, Namecoin, Testnet, Dogecoin, ERC-20 Tokens
- Fiat Currency: Neither wallet supports fiat currencies
- Price: Ledger: €79 / TREZOR: €89
- Rating: Ledger: 9.3/10 TREZOR: 9/10
Ledger Nano S
The Ledger Nano S is a great bit of technology. With an inbuilt screen on the front of the device, it means that the device is so secure it can even be used on a computer that is infected with malware.
The Nano is controlled via the screen and the navigation buttons below it, meaning that even if you have keystroke logging software on your computer, your details and privacy remain completely safe. When it comes to security at a low price, the Ledger Nano is a great option.
It supports all the main cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, and it also offers the ability to store some of the lesser known as well. The device is nicely designed, small enough to fit on a keyring, and due to its low price, it is considered as one of the best wallets on the market.
The TREZOR hardware wallet is a compact bit of kit that fits comfortably in the palm of your hand. Connecting to your PC via USB, it allows you to send, receive, and store your cryptocurrency securely.
It supports most of the leading cryptocurrencies including Bitcoin, Litecoin, and Ethereum.
It was developed by a Czech startup called SatoshiLabs and it retails for around €89. In concept, it is pretty similar to a USB dongle, yet it offers its users unparalleled levels of security.
As well as being incredibly secure, the TREZOR is a winner when it comes to design. It is slick, sleek, well designed and it requires little technological know how to get it going.
It is available in three colours – white, silver or black- and comes with a handy little strap which means you can easily attach it to a keyring for portable use. TREZOR also features a customisable screen which acts as its most important and effective security feature- but more about that later.
The wallet is powered by an ARM Cortex M3 processor which offers 120MHz or power, and its OLED screen is a clear 64 pixels. On the front of the device, there are two hardware buttons which enable you to navigate it, set it up, and most importantly, sign off transactions.
Ledger Nano S vs TREZOR: Cryptocurrency Stored
Ledger Nano S
The Nano S is not just capable of storing Bitcoin and Ethereum, it also supports a huge amount of altcoins such as Fido, U2F, Dogecoin, Stratis, Ripple, ZCash and Komodo meaning it is perfect for those looking for a storage solution for their diverse cryptocurrency portfolios.
At first, the TREZOR only supported Bitcoin but now it has evolved to support most of the leading coins such as BTC, Dash, Litecoin, Namecoin and ZCash. It is rumoured that this list will continue to expand, and it is expected to shortly support the storage of IOTA as well.
Ledger Nano S vs TREZOR: Privacy and Security
Ledger Nano S
When it comes to privacy and security, the Nano has really hit the nail on the head. The Nano requires a four-digit pin code in order for it to be used, as well as to send payments. Should you enter this pin incorrectly three times in a row, it will lock you out, reset, and wipe all of the data on the device.
The Nano also offers a full backup and recovery system, meaning that even if you lose the device, you can still recover your wallet as long as you have set up the recovery sheet feature.
Another feature that is great with this device is the advanced passphrase feature which allows you to add custom text to your 24 words recover phrase.
Then, as already mentioned, the fact that it is controlled via its screen and own navigation buttons which means it is impenetrable to malware and hackers that may be targeting your computer.
TREZOR comes in a small box complete with a tamper-proof seal meaning you can easily tell if your device has been interfered with, prior to using it.
It also offers a unique pin-entering system where you do not enter the pin yourself, you choose the correct numbers from a selection of random numbers that are displayed within the browser. This means that if your computer is compromised in any way, they are unable to determine your pin as you can only see them on the TREZOR display.
The wallet also requires a 24-word seed which means you can reconstruct your wallet, should you lose your device or accidentally wipe it.
Ledger Nano S vs TREZOR: Customer Support
Ledger Nano S
Your first stop for customer support with the Ledger device is its website. Here you can find comprehensive and useful FAQs, user guides, information, and troubleshooting support.
There is also an active forum where you can search, post, and read information from other users. If you cannot find a solution using these methods, then you can submit a request for assistance by means of a short form on the website.
TREZOR customer support is on a par with that of the Nano.
You can find a huge amount of information on the official website, as well as a trouble-shooter, and network status reports for the TREZOR network.
Should you still find yourself stuck or unsure, you can contact their support centre, or contact them via Twitter.
Ledger Nano S vs TREZOR: Setting up Guide
Ledger Nano S
Setting up the Ledger Nano S is simple and pain-free and can be completed in a matter of 5 minutes:
#1 Plug the device into your computer and look at the Ledger screen for a set of instructions that you need to follow carefully. You will be presented with the option of creating a new wallet or importing an existing one.
#2 Next up, you need to pick a four-digit pin code, ensuring you don’t pick something obvious such as your birthday!
#3 Retrieve the recovery sheet from the Nano’s box. Here you will need to enter 24 words in the order that they are listed in, allowing you to retrieve your wallet in the case of loss of theft, so be sure to complete this step in full.
#4 Install the Ledger app on your computer and you are ready to start using your wallet.
TREZOR set-up process is also pretty simple, unfortunately, it is not as quick as the Nano and takes around 15 minutes from start to finish:
#1 Connect the device and download the browser plugin which you need to use the device on your computer.
#2 Choose a pin and input it. The input method varies from the norm, as you are presented with an obscured numerical keypad which is displayed in your browser. The numbers and their positions change each time, so you need to look at your TREZOR screen each time to check the layout, from there you then select the numbers that correspond to the pin, and you are good to go.
#3 Choose the 24-word seed that allows you to recover your wallet, should you need to do so.
Ledger Nano S vs TREZOR: Cryptocurrency Transaction
Ledger Nano S
Sending your cryptocurrency to and from a Nano is pretty simple and straightforward:
#1 Connect your Ledger to your laptop, via the included USB cable.
#2 Open the relevant application on your computer and select the applicable cash chain that you want to transact to.
#3 Click on receive and then copy the cash address which is provided.
#4 Paste the address where it is required, and you are good to go.
#5 Remember – you can enact these transactions whilst your Ledger is disconnected, as all transactions are available on the blockchain, this means it will immediately synchronise as soon as the device is reconnected.
The process with TREZOR is equally simplistic:
#1 Navigate to your TREZOR account page and select one of the addresses there.
#2 Send the coins to that address, and if the device is plugged in, it will update automatically. If it is not connected, it will sync the next time it is connected.
#3 To send cryptocurrency, just access the TREZOR wallet in your browser and navigate to the send page.
#4 Enter the destination address and the value and type of coins you will be sending and hit the send button. You also have the option of using a QR code button and then using the computer’s webcam to scan it.
Ledger Nano S vs TREZOR: Which One Should I Buy?
When it comes to deciding which one to buy, it is like trying to choose between a Ferarri or a VW Golf. Both look good, work well, and do the job you expect them to do, but there is a big difference in the quality.
If you are looking for an entry price wallet to do the job, then the Ledger Nano S is the one for you, but if you are looking for something that will do the job with a bit of extra panache then the TREZOR is your wallet of choice.
Personally, I would always go for the Ledger Nano S. It has a great price, I prefer the look, feel and style of the device, and it is significantly quicker to set up. For me, I don’t see the point in spending a bit more on a device which does essentially, the same thing.
I would much rather spend the difference on investing in a cryptocurrency to keep in the wallet, than on the wallet itself.
They are both great devices and you will be hard pushed to find a more safe and secure way of storing your cryptocurrency than either of these, but when it comes down to it, I would always opt for the budget option.
The Ledger Nano S doesn’t compromise on features due to its low price, and I am of the opinion that it actually outstrips the TREZOR when it comes to functionality.
In the comparison review between Ledger Nano S and TREZOR, it’s hard to pick a winner, but with Nano S being more modern and flexible, it has to be our final pick.