Introduction
Cryptocurrency Wallets are used to store crypto assets in a secured manner. Hardware Wallets are safer than software wallets as they store private keys offline. And since they do not store the actual funds, in case of theft or loss, the wallet can be restored as well.
Since private keys remain disconnected from the internet, no intruder can get access to it. In the worst case scenario, even if somebody gets hold of them, they cannot make any transactions as a physical device is required to confirm the trade. Most of the cryptocurrency hardware wallets provide top-notch security with features like Device Screen, PIN, Recovery Phrase, etc.
Device Screen is used to set up the wallet and confirm the transactions. The PIN is used to access the hardware wallet while Recovery Phrase is used to recover the wallet keys in case of theft or loss.
With all such attributes, hardware wallets serve the right purpose of storing the cryptocurrencies safely without the fear of hacks and scams.
Ledger Nano S
At first glance, Ledger Nano S looks like a flash drive. It is a battery-less device which turns on/off automatically with the aid of USB cable. It’s the most popular and trusted device in the crypto community.
It is manufactured by Ledger company which has its roots in Europe. The company is said to have sold over 1M ledger devices in 165 countries.
You can also read A Complete Ledger Nano S Review & Step-by-Step Setup Guide
Trezor
Trezor wallet is the first bitcoin wallet of the world. It looks like a car-key or tiny calculator. Like its peers, it is to be operated with a USB cable. It has an extra layer of security which is passphrase. The passphrase is an additional recovery word that the user can choose.
Trezor is created by SatoshiLabs, a well-known name in 2014.
You can also read A Complete Trezor Review & Step-by-Step Setup Guide
In this article, we will discuss and compare these two widely used wallets.
What's in the Box?
Ledger Nano S
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Ledger Nano S Device
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Micro-USB Cable
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Key Chain & Key Ring
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Lanyard
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Recovery Sheet
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Instruction Card
Click here to buy Ledger Nano S
Trezor
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Trezor device
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Micro USB cable
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2 Recovery seed booklets
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User Manual
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Strap
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4 Trezor Stickers
Coins Supported
Ledger Nano S
Ledger Nano S supports not only suppports popular cryptocurrencies like Bitcoin, Ripple, Litecoin, Ethereum, etc. but also ERC20 Tokens and the list keeps updating. You can check the whole list of supported coins here.
Trezor
Trezor supports legit cryptocurrencies directly and for other tokens, it collaborates with other wallets like MyEtherWallet. Here's the list of the coins that Trezor supports currently:
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Bitcoin (BTC)
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Bitcoin Cash (BCH)
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Bitcoin Gold (BTG)
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Dash (DASH)
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Dogecoin (DOGE)
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Litecoin (LTC)
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Vertcoin (VTC)
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Zcash (ZEC)
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Ethereum (ETH)
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Ethereum Classic (ETC)
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NEM (XEM)
Click here to buy Trezor One
Compatibility
Ledger Nano S
OS: Windows 7-10, Mac 10.8 +, Linux and Chrome OS
Wallets: Mycelium, Electrum, MyEtherWallet, Copay, BitGo, GreenBits, etc
Trezor
OS: Windows 7-10, Mac 10.11 + and Linux
Wallets: Trezor Wallet, Mycelium, Electrum, Copay, MyEtherWallet, etc
Ledger Nano S v/s Trezor
| FEATURE | LEDGER NANO S | TREZOR ONE | |
| APPEARANCE | SCREEN |
YES |
YES |
| BUTTONS |
YES, 2 |
YES, 2 |
|
| WEIGHT & DIMENSIONS |
|
|
|
| SECURITY | PIN |
YES |
YES |
| RECOVERY SEED |
YES |
YES |
|
| PASSPHRASE |
NO |
YES |
|
| ACCESSIBILITY | BEST WAY TO ACCESS |
Ledger Live |
Trezor Site |
| PRICE |
$95 |
$82 |
|
| WHERE TO BUY |
Pros & Cons
Ledger Nano S
Compatible with existing wallets like MyCelium, Electrum, MyEtherWallet, etc
Affordable price
Multi-cryptocurrency support
Highly Secure
Built-in screen for 2FA
Integrates with multiple apps and extensions
Uses Open-source firmware
Good customer service
Low storage space to store a significant amount of apps
No passphrase support yet
Trezor
Compatible with existing wallets like MyCelium, Electrum, etc
Sync transaction information with your Dropbox account
Supports multiple hidden accounts
Customizable splash screen logo
Multi-cryptocurrency support
Highly Secure
Built-in screen for 2FA
Integrates with various apps and extensions
Open-source
Good customer service
A little complicated to setup
Lack of direct support for ERC 20 Tokens
Feels low-quality
Little expensive
Conclusion
Both Ledger Nano S and Trezor provide top-notch features with multiple cryptocurrency support. However, Ledger Nano S supports more number of coins; specially ERC 20 Tokens. The security attributes are also quite similar except that Trezor provides an extra layer of a passphrase. The price of both the hardware wallets is almost at the same level.
So which one should you get? It really depends on you and the cryptocurrencies you intend to store. Both are worth the price to store your crypto assets safely.