- >Best Cryptocurrency Wallets 2024: Comprehensive Wallet Reviews
- >Trezor Model T vs. Ledger Nano X: Best Against the Best?
Hardware wallets have been around for a while now, with the first one being released in 2011. Since then, they have become increasingly popular, with different companies releasing their own versions. If you are a crypto native, you know how important it is to have a hardware wallet. A hardware wallet is a physical device that stores your private keys and allows you to access your funds securely.
To the uninitiated, a crypto wallet is nothing more than a set of cryptographic keys generated automatically by the blockchain. Therefore, when someone sends you cryptocurrencies, you need to have a digital crypto wallet that will store the private keys associated with your digital assets. A hardware wallet is the best way to protect these private keys since it keeps them offline and away from potential attackers.
The two most well-known brands on the market are Ledger and Trezor. Both those companies offer flagship models: the Ledger Nano X and Trezor Model T. Both wallets are arguably the best hardware wallets available on market. But which one is best? Find out in our Ledger Nano X vs. Trezor Model T showdown.
Ledger Nano X Quick Overview
The Ledger Nano X hardware wallet is the flagship product of the Ledger company. It is a secure and easy-to-use device that allows you to store your cryptocurrency on an offline device. The Nano X has a built-in OLED display, Bluetooth support, and two physical buttons for approving transactions. It has a build similar to a regular USB drive and comes with a USB cable that you can use to connect the device to your computer or smartphone.
The Ledger Nano X supports more than 5000 different cryptocurrencies, so it’s suitable for almost all digital assets. It also has a mobile app companion, which allows you to monitor and manage your funds. The Ledger Nano X is also one of the most secure hardware wallets on the market, with features such as two-factor authentication and recovery phrase backup.
- Flagship Ledger wallet with industrial-grade security with bluetooth
- Supports over 1300 crypto assets and tokens
- Supports all major desktop and mobile operating systems
- Connect to Ledger Live for staking, DeFi, NFTs and more
Ledger Nano X Pros & Cons
Pros
One of the most secure crypto wallets in the world
Features bluetooth with a mobile app companion for iOS and Android
Well-sized monitor for convenience
Supports a wide range of cryptocurrencies
Cons
No touchscreen
There have been some issues with the battery in the past
Trezor Model T Quick Overview
The Trezor Model T is the second-generation hardware wallet from SatoshiLabs and is considered one of the most advanced wallets in the market. It features a full-color touchscreen display and two physical buttons, making it easier to use than its predecessor (the original Trezor One).
The Trezor Model T supports over 1,000 coins, tokens, and digital assets. It also features a broader range of security features than the original Trezor One, including support for two-factor authentication (2FA). In addition, like the Ledger Nano X, the Trezor Model T is equipped with a recovery phrase backup system that allows you to restore your wallet in case of theft or loss.
- Top-tier cryptocurrency wallet with impressive touchscreen
- Compatible with a number of software wallets
- Store cryptocurrency, passwords and other keys with ease
- Excellent customer support
Trezor Model T Pros & Cons
Pros
Supports more than 1,000 crypto assets
Features an intuitive full-color touchscreen display
Built-in two-factor authentication system for extra security
One of the best touchscreens available on a crypto wallet
Cons
The most expensive mainstream crypto wallet
No bluetooth so mobile support iPhone is limited
Beginner Friendliness
Ease of use is critical for anyone looking to pick between these two hardware wallets. In this case, the Trezor Model T takes the lead with its full-color touchscreen display and intuitive interface.
It also has two physical buttons that make it easier to approve transactions or confirm a backup seed. Even though the Ledger Nano X comes with a screen, most users find the Trezor Model T easier to use as the Ledger Nano X is much smaller and hard to read.
Trust & Security
Both wallets offer excellent security features, with support for two-factor authentication and a backup seed phrase system. In addition, both wallets are similarly secure in terms of physical protection due to their tamper-proof enclosures and built-in passphrases.
Ultimately, this department has no clear winner, as both wallets offer great security features. To further ensure that you get the most secure wallet, buy directly from the manufacturer. There is no advantage in purchasing from a third party. Plus, there is always a risk of buying tampered hardware wallets. A hacker can place a backdoor’ed version of the wallet on a marketplace and wait for unsuspecting buyers to purchase it.
Price
The Trezor Model T is more expensive than the Ledger Nano X, with prices with a price of around $213, depending on where you buy it. The Ledger Nano X can be purchased for around $149. So if you are looking for a more affordable wallet, then the Ledger Nano X will be your best bet.
Interestingly the Nano X started at $119 but as demand for hardware wallets soared the company actually increased the price of the device.
Overall, both wallets offer great features and security, though if cost is an issue, then the Ledger Nano X might be a better choice over the Trezor Model T. However, if you are looking for an easier-to-use wallet with a larger screen, then the Trezor Model T is the way to go. It all ultimately comes down to personal preference and budget. To make sure you pick the right one, do your research and read up on both wallets before making a purchase.
Supported Coins & Tokens
The Ledger Nano X wins this round with a massive list of over 5000 supported digital assets, from Bitcoin all the way to obscure altcoins no one has ever heard of before.
On the other hand, the Trezor Model T supports just above 1000 different coins and tokens. This is still a sizable collection, but the Ledger Nano X has the edge. So if you are looking for a wallet that supports more coins, then the Ledger Nano X is your best bet.
Hardware and Build Quality
The Trezor Model T and Ledger Nano X feature a premium build quality and are built to last. Both wallets have robust enclosures with tamper-proof seals, giving you peace of mind that your data is secure.
The Ledger Nano X is significantly smaller than the Trezor Model T, which can be both a pro and a con, depending on your preferences. If you like a wallet that you can easily carry around, then the Ledger Nano X will be a better choice. However, the Trezor Model T is also easily portable despite its larger size.
Installation and Setup Process
Setting up your hardware wallet is often the most tedious part of owning one. In this regard, both wallets offer easy-to-follow instructions that allow you to set up your new device quickly.
The Ledger Nano X comes with a companion app for smartphones and computers, making it easier to send and receive cryptocurrencies from any location. On the other hand, the Trezor Model T comes with a web-based dashboard that can be used to set up the wallet and manage funds. Overall, both wallets offer an easy-to-use setup process and should take, at most, a few minutes.
Standout Features
Now that you have full details about what each wallet offers, let’s take a look at the standout features that each one brings to the table.
The Ledger Nano X has two main features that set it apart from other hardware wallets. The first is the availability of a screen that allows you to easily view your transaction history and manage your funds with ease. The second is its Bluetooth support, which allows you to access your wallet from any location, even if you don’t have your laptop with you.
The Trezor Model T also has two main features that make it stand out. The first is its larger screen size. Compared to Ledger Nano X, the Model T’s screen is much easier to use, especially if you don’t like to squint when entering long wallet addresses, as is the case with Ledger Nano X. The second is its integration with various third-party applications and services, giving you the ability to use your wallet in different scenarios.
Verdict: No Wrong Choice
At the end of the day, both wallets offer great features and security. However, if cost is an issue, then the Ledger Nano X might be a better choice than the Trezor Model T. It’s also the best choice if you want to connect an iPhone.
A hardware wallet is a no-brainer, and both of these wallets are excellent options. A hardware wallet keeps your crypto funds from being compromised, and both the Ledger Nano X and the Trezor Model T come with top-notch features that make them excellent choices. However, in the end, it all comes down to personal preference, so be sure to do your research before making your decision.
