Trezor vs. Ledger: Which to choose?
Trezor vs Ledger are two well-known names in the cryptocurrency industry. Both offer secure hardware wallets, support over 1,000 coins, and have built-in cryptocurrency exchanges. Trezor is part of SatoshiLabs and was launched in 2013, headquartered in Prague, Czech Republic. Ledger was founded in 2014 and is headquartered in Paris, France.
Trezor and Ledger: a comparison
A software wallet is similar to a mobile or computer app that allows you to perform all the functions mentioned above. But while a hardware wallet performs the same function, it is a physical device, not an app.
Hardware wallets are not connected to the Internet and are therefore considered a more secure option. Because of this, they are also called cold storage or cold wallets. There are many hardware wallets available on the market and they are all loaded with features. Uniswap price prediction 2030 predicts that the price of UNI could reach $124.31, accordingly hardware wallets will increase in price, so you should now think about the pre-purchase of a hardware wallet for further storage of currency.
Let's examine Trezor and Ledger, the most popular hardware wallets of 2022, and see how they differ from each other.
Trezor is a hardware wallet released in 2013. It is part of SatoshiLabs, headquartered in Prague, Czech Republic.
Pros of Trezor:
- Touch-screen color display;
- High level of security;
- Wide range of supported cryptocurrencies;
- Open source platform;
- Regular firmware updates.
Disadvantages of Tresor:
- Lack of a mobile app;
- Not Bluetooth compatible;
- Plastic case;
- A little expensive.
Ledger, founded in 2014 and headquartered in Paris, is a fast-growing hardware wallet company. It is best known for its advanced security and blockchain applications.
BOLOS, Ledger's native technology, has been integrated into its line of security wallets.
The pros of Ledger are:
- Easy to set up;
- User-friendly interface;
- Support for more than 1,500 digital assets;
- Supports Bluetooth connection;
- Great battery life.
- Not touch screen;
- Not an open-source platform (closed-source);
The secure hardware wallets developed by Trezor and Ledger are convenient and secure for storing cryptocurrency. Both support thousands of coins and tokens and provide access to cryptocurrency exchanges. However, the Ledger Nano X offers Bluetooth, and both Ledger wallets support Ripple, Monero, and Tezos. Meanwhile, the more expensive Trezor T has a touchscreen that's easier to read and use.
Although it's a tough call, Ledger displaces Trezor because of its lower price, mobile app, iOS connectivity, and support for several more popular coins and wallets than Trezor. But if you want to spend the extra money for a touchscreen and Shamir backup, choose the Trezor Model T.
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Photo: Art Rachen, Unsplash