Trezor vs Ledger: Investor’s Guide 2024

Zac McClure
ByZac McClure, MBAReviewed byAlex MilesUpdated on May 31, 2024 · minute read
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  • Ledger is the best hardware wallet for investors. It excels in security, ease of use, and advanced features like staking and NFT management. Its dual-layer security and comprehensive Ledger Live platform set it apart.

  • Trezor stands out for its open-source software and affordability, making it ideal for investors who prioritize transparency and budget-friendly options. It offers robust security features and supports a wide range of cryptocurrencies.

Ledger vs Trezor comparison

Here’s a look at Ledger vs Trezor, focusing on key features crypto users should look for when considering the best crypto wallets to secure their digital assets.

Wallet typeCold / HardwareCold / Hardware
Crypto typesAs many as 1,456 based on modelOver 5,500
Price$59 to $179$79 to $279
Exchange integrationsYesYes
App for mobileNoiOS / Android
Bluetooth featuresNoAvailable with two models

Trezor vs Ledger: Security

Winner: Ledger

Both Ledger and Trezor offer robust security features, but Ledger's dual-layer security system provides an additional layer of protection. While Trezor's open-source code enhances trust and transparency, there have been instances where physical access led to vulnerabilities.

Trezor: Trezor's security approach focuses on transparency through open-source software. The Model T features Shamir Backup, which splits your recovery phrase into multiple parts, providing enhanced security.

Ledger: Ledger uses a secure element chip, like those in passports and credit cards, providing strong protection against physical and digital threats. Although Ledger's software is not fully open-source, its architecture has proven to be highly secure.

Ledger vs Trezor: Functionality

Winner: Ledger

Ledger offers a more integrated experience with advanced features like staking and NFT management, making it the better choice for functionality.

Trezor: Trezor offers a user-friendly interface, but advanced features like staking and NFT management require additional software.

Ledger: Ledger Live provides direct access to a range of features, including staking and NFT management, without the need for third-party applications. The Ledger Stax is specifically designed for these functionalities.

Trezor vs Ledger: Costs

Winner: Trezor

Trezor provides a more affordable range of hardware wallets, making it a cost-effective choice for budget-conscious investors.

Trezor: Trezor's models include the Trezor One ($59), Trezor Safe 3 ($79), and Trezor Model T ($179).

Ledger: Ledger's models range from the Nano S Plus ($79) to the premium Ledger Stax ($279), with the Nano X priced at $149.

Ledger vs Trezor: Staking options

Winner: Ledger

Ledger supports staking for a broader range of cryptocurrencies, allowing users to earn rewards on more assets. Interested in crypto staking? Learn what our experts have to say about crypto staking taxes.

Ledger: Ledger supports staking for cryptocurrencies like ETH, ADA, XRPT, NOM, QCK, SOL, XTZ, DOT, TRX, ATOM, OSMO, CELO, EGLD, and INJ.

Trezor: Trezor supports staking for ALGO, SOL, ATOM, ADA, ONT, XTZ, and VET.

Trezor vs Ledger: Supported coins

Winner: Trezor

Trezor officially supports more types of cryptocurrencies, though it has been slower to add some popular altcoins.

Trezor: Trezor supports over 8,000 cryptocurrencies, although some popular altcoins like ATOM and DOT are not supported as quickly.

Ledger: Ledger supports over 5,500 cryptocurrencies, offering a wide range of options for diverse portfolios.

Ledger vs Trezor: App features

Winner: Ledger

Ledger's mobile app, Ledger Live, allows users to manage their cryptocurrencies conveniently, a feature Trezor lacks.

Ledger Live: Ledger Live is available for iOS and Android, enabling users to send, receive, and monitor their crypto assets on mobile devices.

Trezor: Trezor offers an Android mobile app that allows users to check their balances without sending or receiving crypto.

Trezor vs Ledger: Open Source

Winner: Trezor

Trezor's commitment to open-source software makes it the preferred choice for those who prioritize transparency.

Trezor: Trezor’s fully open-source software allows for public verification and enhances security through community scrutiny.

Ledger: While Ledger Live is open-source, the firmware on Ledger devices is not, which might be a drawback for users who prioritize transparency.

Ledger vs Trezor: User friendliness

Winner: Ledger

Ledger offers a more user-friendly experience, especially for beginners, due to its integrated software and comprehensive platform.

Trezor: Trezor's design is straightforward and accessible, but some advanced features require additional software.

Ledger: The Ledger Live software consolidates various tools into one platform, making managing cryptocurrencies and navigating the device’s features easier.

Pros and cons: Ledger vs Trezor

Here are answers to frequently asked questions about Trezor vs Ledger and the Trezor wallet.

Pros & ConsTrezorLedger
ProsOpen source, may feature a color touch screen, has a backup feature for additional securityFeatures Bluetooth on certain models, robust mobile app, sturdy steel case
ConsNo app or Bluetooth, plastic caseFirmware is closed-source, has no color touch screen, and was hacked in Dec. 2023 as a result of a flaw in security

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Trezor vs Ledger FAQs

Should I use Ledger or Trezor?

Trezor and Ledger are both quality wallets for investors. Trezor may be a better choice for those who value lower prices and transparency, while Ledger is more suitable for those who prioritize user-friendliness and features like staking.

Can Trezor or Ledger be hacked?

Both wallets are highly secure, but not immune to physical attacks. Ledger has never been successfully hacked, while Trezor has had vulnerabilities exposed during testing. Remote hacks are unlikely for both.

Is Trezor owned by Ledger?

No, Trezor wallet is not owned by Ledger. They are two separate companies that manufacture hardware wallets.

What are the disadvantages of Trezor?

Some users have criticized Trezor wallet for being slow to add new cryptocurrencies and requiring third-party integrations for staking and NFT management.

To stay up to date on the latest, follow TokenTax on Twitter @tokentax.

Zac McClure
Zac McClureCo-Founder & CEO at TokenTax
Zac co-founded TokenTax after his career in international finance and accounting at JPMorgan, Imprint Capital and Bain. He has worked in more than half-dozen countries and received his MBA from the UPenn Wharton School.
Alex Miles
Reviewed byAlex MilesCo-Founder at TokenTax
Prior to TokenTax, Alex worked as a Product Designer at Dropbox and before that Readmill (acquired by Dropbox). He holds a BS in Digital Information Design - Interactive Media from Winthrop University.

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