The cryptocurrency market is growing rapidly, and with that, the hardware wallet is also seeing a growth spurt. Trezor was one of the first hardware wallets that ruled the market until the launch of Ledger Nano S. Later, with the entry of the KeepKey it has become more of a two-way race between Keeykey and Nano. But with that, the decision to choose becomes harder. Read below to understand the comparison between the two.
It is one of the crucial features to consider when choosing between hardware wallets. But when comparing security, there is not much difference as both are extremely secure and have similar features with few differences. Both can be used on the computer safely and are virus and malware attack-proof. Both don’t expose the recovery passcode to the computer as they have screens. Some notable differences are:
Ledger Nano S: It uses two secure chips on its device.
Keepkey: Acts like a small computer by itself.
One of the important features to consider when buying a hardware wallet is the screen. It helps in entering the wallet, backing up, setting up, confirming the address, confirming transactions, and much more. It displays highly sensitive information like PIN codes, backup seeds, and private keys to have, as it can be used to review the entire transaction before confirmation. Most wallets come with display screens built-in, but the quality and size differ.
Ledger Nano S: Has an OLED screen with two buttons that are used for selecting the items or move to. It gives complete control over the transactions.
KeepKey: It also has an OLED screen but has a much larger display compared to the Ledger Nano S. It can display a lot more information with clarity as it has a larger display.
Another critical aspect of choosing hardware wallets is the pricing factor.
Ledger Nano S: It is almost 30% cheaper than KeepKey and is best suited for people in a budget. The Ledger Nano S warranty of 1 year is an added advantage.
KeepKey: Is costlier compared to Nano S but comes with a 1-year warranty.
Software is an essential component in any hardware wallet, without which it cannot work. It is needed to give the command to the wallet and also for interaction. There is a few prominent software that is compatible with the wallets, as mentioned.
Ledger Nano S: Is compatible with Electrum, Mycelium, Copay, GreenBits, and GreenAddress
KeepKey: Electrum, Mycelium, MultiBit HD, GreenBits, and GreenAddress
Setting up may be a one-time activity, and hence many do not consider it important criteria when comparing between wallets. But easy setup and installation are necessary as it is frustrating otherwise. Thankfully, setting up both the wallets is easy, and it hardly takes a few minutes to get it up and to run. There is not much to compare in this aspect, and either can be chosen. During the setup process, it allows you to set the password. Irrespective of the wallet you choose, write down the recovery code somewhere as you can use it when you forget the password.
One might argue that the size, design, and outward appearance does not matter as much as say security. However, wait till you carry a bulk wallet that does not fit into your pocket or feels like you are carrying a piece of stone!
Ledger Nano S: It may not be the smallest wallet, but it is foldable, which is a huge advantage. It is more portable when compared to KeepKey, but it becomes as small as Trezor, which is the smallest hardware. The material used is aluminum which looks fancy
KeepKey: It is much bigger than Ledger Nano S India. Like Nano S, Keepkey is also made of aluminum and hence looks more stylish.
Both the Nano S and the Keepkey are among the best wallets. There are minor differences like KeepKey being more bulky and large but with a better screen than Nano S. If the price is the criteria, the winner has to be Ledger Nano S as it is cheaper than KeepKey.
Both of them are unique and are considered the top crypto hardware wallets.
It is like a pen-drive, which, when connected to your computer, is all ready to use.
Similarly, it is like a pen-drive device, used for storing cryptos securely.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!