When you begin investing in cryptocurrency, one of the first challenges you are faced with is keeping them safe. There have been so many horror stories in the past relating to stolen funds and wallets being compromised.
The best way to prevent it from happening from you is to use a hardware wallet.
In my Trezor vs Ledger guide, I will compare both of these wallets so that you can determine which one suits your needs better.
A Head-to-Head Comparison
Both wallets have a rather renowned status, and with good reason: they both offer fantastic security to their users and have built a solid reputation in due time.
However, there are different advantages and disadvantages of each wallet over the other, with most of these things relating to personal requirements.
Trezor vs Ledger – Background History
In order to give you a thorough comparison of two products so evenly matched, we’ll have to start at the beginning and investigate why Ledger vs Trezor is the only serious contest in the hardware wallet market.
Launched in 2014 by SatoshiLabs, the TREZOR wallet was the world’s first Bitcoin hardware wallet.
It was launched with the intention of becoming the ultimate storage device for Bitcoin, one that could protect its users from hackers, viruses, malware, and fraud.
The TREZOR wallet has become a household name in the crypto world and has continued to improve over the years. As well as improving security, they have also broadened their range of support for other new currencies.
Ledger Nano S
The Ledger Nano S was created by a company named Ledger, who has been creating security hardware for cryptocurrencies since 2014.
Since its inception, Ledger has received over $85 million in funding from a range of top investors. Not only that, but it has clients in over 165 countries and has sold over 1,000,000 devices according to its website.
Trezor vs Ledger – Currency Support
One of the most important things to consider before deciding which hardware wallet to choose is the coins that each of them supports. After all, there isn’t much point in buying a hardware wallet if it doesn’t support the coin(s) you’re invested in!
Which coins does the TREZOR wallet support?
The TREZOR wallet currently supports Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, DASH, Zcash, NameCoin, Dogecoin, and all ERC-20 tokens.
Which coins does the Ledger Nano S support?
The Ledger Nano S currently supports Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Ethereum Classic, Litecoin, Dogecoin, Zcash, Ripple, Dash, Stratis, Komodo, Ark, Expanse, Ubiq, Vertcoin, Viacoin, NEO, Stellar, Digibyte, QTUM, PivX, and all ERC-20 tokens.
Trezor vs Ledger – User Friendliness
It is clear that both of these wallets have been built for ease of use. They both have highly clean and intuitive interfaces that make the devices very user-friendly.
Is the TREZOR wallet easy to use?
The Trezor wallet’s desktop interface is compatible with Windows, MAC, Linux, and Android Devices.
It’s accessible through Chrome, or via an app called ‘TREZOR bridge’ which connects seamlessly with your TREZOR device allowing for complete control of your coins, balances & transfers. As a result, TREZOR can be very easy to use, even for total beginners.
In addition, the TREZOR wallet’s main selling point is its ability to store all of your different cryptocurrencies in one place, eliminating much of the hassle and admin associated with keeping a diverse portfolio of coins secure.
You can also create multiple public addresses (extra wallet/accounts) inside your TREZOR to help you organize your funds, taking ease-of-use one step further.
Is the Ledger Nano S easy to use?
The Ledger Nano S is also compatible with Windows, MAC, Linux and Android Devices and offers a similar user interface to the TREZOR too.
It also boasts a user-friendly Chrome extension allowing easy access to account details and address generation, as well as exchange rate charts (a nice added bonus!). So, yes, the Ledger Nano S is indeed easy to use.
Furthermore, the Ledger Nano S can also be used in conjunction with existing Bitcoin wallets without any unnecessary transfers of currency or the creation of superfluous wallet storage.
So, which is better for beginners?
The clarity of information displayed and functions inherent in both wallets makes deciding a winner in this particular section a tough one to call.
If either, I’d say Ledger edges it and therefore is the better option for total beginners, as it offers a slightly more versatile platform and the instructional guide included is simpler to follow.
Trezor vs Ledger – The Physical Device
It’s another tight battle when we ask which is the most visually pleasing, however, the material of the devices is certainly something worth comparing.
TREZOR: Material & Design
The TREZOR wallet is made out of plastic but it looks more like a cool gadget than a cryptocurrency wallet. Its design is ergonomic, making it easy to handle for such a small device, while it leaves plenty of room on its body for a display screen.
The display screen is much bigger than the usual screen you’d find on a USB device. It has two buttons to help you navigate and select on-screen functions such as those required to send funds from your TREZOR wallet, as well as performing numerous other actions.
Ledger Nano S: Material & Design
The Ledger Nano S is cased in stainless steel and looks just like a normal USB. It is much smaller than the TREZOR and the steel casing makes it more resistant to physical damage.
It looks sleek and has two buttons and a small screen. The screen is slightly smaller than that of the TREZOR, but it still functions perfectly.
So, the wallet catches your eye more is entirely subjective, but the durability of the Ledger is the winner any day of the week.
Trezor vs Ledger – Set Up
Both wallets follow a similar setup procedure. Let’s take a look into them in more detail.
How to Set Up TREZOR Wallet
The difference between these two setup methods is that mytrezor.com is similar to a web wallet, whereas the Google Chrome extension is an application that is stored in your browser. The Google Chrome method is preferred by users who are concerned about privacy.
When you receive your TREZOR device, you will be provided with full setup instructions. This requires you to plug your device into your PC/Laptop, create a PIN code, and set a device name and a strong password.
You will also have to write down your Backup Seed, which I will talk about in the next section of my Trezor vs Ledger guide.
How to Set Up Ledger Nano S
When you receive your Ledger Nano S wallet, you will be provided with full setup instructions. Similar to the TREZOR wallet, there are Google Chrome extensions that you can use with your Ledger Nano S.
To get started, you will need to plug your Ledger into your PC/Laptop using the USB cable provided and follow the instructions on the screen.
Then, you will be instructed to create a PIN code that is used to access your device. You will also have to back up your recovery phase (backup seed) which will be displayed on the Ledger Nano S.
Conclusion: TREZOR vs Ledger Nano S. Pick One.
To conclude, the debate of Ledger vs Trezor really is a very evenly matched contest. The bottom line is that your decision will likely come down to supported coins and aesthetic values. Those are really the only significant differences.
But as is evident from this guide, both are super viable options and you can rest assured you’ll have peace of mind whichever wallet you decide to use.
If you have any further questions, please feel free to leave a comment! We’d be glad to help!