Keeping your cryptocurrency investments safe has become very important today. And thanks to the many established organizations that have provided the crypto enthusiasts with secure storage options via hardware wallet. Hardware wallet adds an additional layer of security to safeguard your cryptocurrencies in case your computer is affected by a virus or malware which could steal your private keys by using a key logger. They additionally secure you against tricks, for example, counterfeit sites which use "phishing" to attempt and take your private keys. In the event that you have done any kind of investment in digital money, it bodes well to utilize a hardware wallet – they are by a wide margin the most secure methods we have at the moment of protecting your investments.
The two products that are considered the best hardware wallet in 2019 and stand out in crypto space are Trezor and Ledger. Both of these products are well known in the cryptocurrency community for the security they offer without actually storing the currencies themselves. Though physical equipment, Trezor, and Ledger act as protection for private information and data that are used to access digital assets.
Trezor is essentially an offline bitcoin wallet operates as a very secure cold storage device. It not only helps users keep their cryptocurrency secure but also provides great flexibility and connectivity while trading cryptocurrencies. It has been rated by many crypto enthusiasts as the most trusted and safest way to store bitcoins. Did you know Trezor is actually the first ever physical storage utility for Bitcoins?
Compatible with any modern-day computer, cryptocurrency hardware wallet comes in the shape of a USB drive. Designed with robust safety features, it is excellent at storing digital assets and provides a safer way to execute digital payments. Ledger is compatible with any modern-day computer. Built around a secure chip, Ledger Nano S Roadmap is becoming the benchmark for crypto security. Did you know Ledger became the first physical storage utility with full support for Ethereum?
Now let’s compare both – Trezor and Ledger Nano S – that have been voted best hardware wallets for 2019.
Trezor devices are made of plastic, and the Ledger Nano S is made of stainless steel which offers maximum damage resistance. The Ledger looks way more stylish than the Trezor as it’s less bulky.
Both the devices come with two buttons to manage crypto wallet software and are integrated with miniaturized USB ports. The size (length) and screen of Trezor is larger than the Ledger’s screen.
The Trezor comes in a little square box with a security seal. The container contains the gadget encased in dark foam with a strap for hanging it up. Additionally incorporates a USB cable for association with your PC, a user manual card, two recuperation seed cards, and various Trezor marked stickers. While in the Ledger box, you will get a USB Cable for easily connecting it to your computer, a Key Chain, a Lanyard to keep the device on your person along with instructions and a recovery card for your seed words.
Trezor is compatible with desktops and mobile devices that are installed with MacOS, Windows, and Linux. It is also compatible with all Android devices, and Google Chrome extensions available for Trezor that helps users to manage the gadget and the data placed in it. It has ‘well-designed’ user-friendly interface that enables you to view transactions with send and receive tabs at the top. Moreover, on the top left, it has a drop-down to switch between cryptocurrencies.
On the other hand, the Ledger Nano S is compatible with all devices integrated with MacOS, Linux, Windows, and Chrome OS. Basically, it requires chromium and extension downloads to function properly. It has an easy-to-use with all the information and tools clearly labeled. Moreover, one can store cryptocurrencies in one place and access them from one screen.
Cryptocurrency support is the most important factor in deciding which hardware wallet to use. Trezor can be utilized to hold a wide assortment of digital coins. However, it does not provide full support for certain cryptocurrencies due to hardware constraints. Following cryptocurrencies are supported by Trezon:
On the contrary, Ledger offers full support for Bitcoins, Ethereum and other currencies, thanks to its Google Chrome extensions. The device fulfills the standard requirements of cryptocurrency users by supporting the following cryptocurrencies:
The setup process for Trezor and Ledger is quite similar. Both the devices require you to set up a pin code as an added security measure. Pin code reinforcement stops hackers and scammers from stealing information from your device, that is, if someone makes more than three incorrect attempts, the device automatically deletes all the data stored on it. In such a case, you can use recovery seeds for lost data. Moreover, the user’s seed is never displayed on a computer screen for an extra level of security.
The cost of a Ledger device is around USD 60, while the cost of a Trezor device is approx USD 100.
Trezor and Ledger Nano S are considered the best hardware devices to send or receive coins, view all information and monitor on-screen transactions. Both the devices have constantly been upgrading themselves by means of software updates, new functionality, and additional coin support.
As we close the Trezor Review and Ledger Nano S Review, here are few key takeaways:
Trezor is better in terms of wallet software as it enables the transaction information to be synced with a DropBox account. Plus, you can create an endless number of hidden accounts by password protecting a user’s seed. Don’t worry; it does offer an easily accessible password directory. On the other hand, Ledger’s firmware and integrated wallet software are not that advanced. It does not support shrouded accounts and does not include password administrator functionality. However, the Ledger currently supports more currencies so you should check the list above to make sure your desired coin is covered. And, in case, your wallet has been lost or got corrupt, it can be recovered without connecting the Ledger device to a PC.
Hence, both devices have their own pros and cons. It is really difficult to nominate ‘which is the better device’ – either Trezor or Ledger Nano S. Both are worth their money. So, while making a purchasing decision, you can consider the coins supported by the device, the look, and design of the wallet and the software user interface.
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