Trezor was the first hardware wallet to have been introduced to the world. As such, for a while, it reigned supreme. However, once Ledger Nano S was introduced, it had a major competitor.
Trezor and Ledger Nano S might not be the only hardware wallets in the market. However, they’re the only ones that everyone is talking about. They come extremely close to each other in almost all aspects, features, security, and even cost.
As such, deciding which of them is the better option can be pretty difficult. However, in this Trezor vs. Ledger article, we’ll compare every aspect of both of these hardware wallets to determine which is better.
For those who don’t know, Trezor and Ledger Nano S are hardware wallets i.e., devices you can use to securely store cryptocurrencies offline. You get USB devices that you can connect to your computer and then either store cryptocurrencies or trade with them. Because these are offline wallets, they are the most secure forms of storage and they can’t be accessed either by hackers or malware.
Read on to find out which device wins the Trezor vs. Ledger battle.
PART 1: Trezor vs. Ledger Overview – Which one is better?
In terms of popularity, one may say that Ledger Nano S is better. Trezor, being an older wallet, has enjoyed greater popularity for a long time.
However, in recent months, Ledger Nano S experienced a sudden upsurge in interest and now it’s the most sought after the wallet. You can check it out in the graph below:
However, popularity doesn’t necessarily make Ledger Nano S better. As you can see from the table below, the two devices go head-to-head in almost all factors. Perhaps the only discernible difference between them is that Ledger Nano S accepts storage for 24 different cryptocurrencies, whereas Trezor is only compatible with 14 currencies.
As such, besides that, it’s hard to determine which is the better wallet. In the next part, we shall inspect every aspect of the wallets in detail to determine how they differ.
|Features||Trezor||Ledger Nano S|
|Review||Trezor Review||Ledger Nano S Review|
|Ease of Use||Average||Easy|
|Compatibility||14 cryptocurrencies supported||24 cryptocurrencies supported|
|Website||Check Now||Check Now|
PART 2: Features & Specifications
In terms of aesthetics, Ledger Nano S is definitely superiors to Trezor. It comes in the form of a USB that you can connect directly to the computer. Trezor, in comparison, has a more clunky design.
Furthermore, Ledger is also packaged with style. It comes with a leather case, a sleek security card, and a chain strap that you can hang around your neck.
All of this contributes to making Ledger Nano S seem a lot sleeker than Trezor.
The device setup process is similar for both Ledger Nano S and Trezor.
You have to connect your devices to the computer. You have to fire up your browser and get the Ledger or Trezor applications. Once you get past the setup screen, you have to finalize the setup via the small screens on the devices.
The only really difference between the two devices here is that Ledger Nano S can only be accessed via Chrome. As such, Trezor is a little more flexible in this regard. But this is a small issue.
Both Trezor and Ledger Nano S are equally secure and have the same features.
First, you need to set up a PIN to access both Trezor and Ledger Nano S. Without the PIN, you’re locked out. If you enter the PIN thrice, the device wipes itself clean as an added security measure.
Besides the PIN, you’ll also be shown a recovery seed. This comprises a string of words which you can use to restore all the information in your wallet in case your device gets stolen, lost, or damaged.
As such, both Trezor and Ledger have high-end security, and they’re both equals in this regard.
Using the Devices
When it comes to using the devices, you have to plug them into your computer. As such, you can use the computer interface to easily send or receive coins, or convert currencies. The interface for both tools is extremely easy.
In addition to adding the PIN to access the device, you have to also confirm each transaction by pressing both the buttons in the device. In Ledger Nano S the buttons are on the side of the device whereas in Trezor they’re on top of the device. However, the process is the same for both.
In both cases, you can also add a 2-factor authentication so that you have to furthermore confirm that you’re accessing the devices. As such, both of them are equally capable of warding off all attempted hacks.
You can watch the following videos for a detailed tutorial on how to use Ledger Nano S and Trezor.
How to set up Trezor wallet
How to set up Ledger Nano S
PART 3: Personal Thoughts
As you can probably tell from the previous part, Trezor and Ledger Nano S are both highly secure hardware wallets and it’s almost impossible to authoritatively state which is better. They’re both similar in almost every aspect.
The only real difference between them is that Ledger Nano S accepts a lot more currencies than Trezor. Is that’s necessary for you, then that’s a deciding factor. Furthermore, Ledger Nano S is more sleek in design as well. However, in terms of buttons, the ones on Trezor are better placed as they can’t accidentally be pressed.
All of this taken into considering, my personal recommendation would be to get Ledger Nano S as it’s sleeker, has wider compatibility, and is also considerably cheaper than Trezor!
Both Ledger Nano S and Trezor are highly powerful hardware wallets. However, when two devices are equals in almost every way that matters, you have to make a decision based on factors such as cost and aesthetics.
In this case, Ledger Nano S definitely trumps over Trezor in being cheaper and better looking. However, you could have your reasons for using Trezor as well.
Whatever you decide to use, please comment about it down below and let us know what helped you make your decision. We’d be glad to answer any questions you have as well.