Is Ledger or Trezor Safer? Best Hardware Wallet

Is Ledger or Trezor Safer? Best Hardware Wallet


We were all shocked by the FTX scandal. If you have been in the crypto world for several months or even years you should know that it was not the first case but there have been many:

-Mt.Gox Exit Scam/Hack (2014)
-Bitfinex Hack (2016)
-Quadriga CX Exit Scam (2019)
-Three Arrows Capital going from $18bln to $0 (2022)
-Celsius Network, Hodlnaut, Voyager and BlockFi bankrupt (2022)
-FTX bankrupt (2022)
-AAX exchange and Genesis paused withdrawal, Gemini stop earn program (2022)

These event didn't always end badly: just think of the refund of Bitfinex and Mt.Gox which will arrive in 2023. However, the phrase "Noy Your Keys, Not Your Coins" always applies! The safest way to keep your crypto is certainly the hardware wallet because these are "non custodial" services. Nobody will know your seed. This is the safest method because you don't have to depend on anyone (e.g. centralized exchanges). If you hold crypto on a centralized exchange you will always depend on these "custodial" services. If they want to stop you from withdrawing, they can. What are the safest hardware wallets?

 

LEDGER
-Nano X: They are the most sold and used devices. Perhaps even the most secure, thanks to the "secure element" (a second certified chip that encrypts the data above in the event of an attack) and the verification of the firmware at each boot. Ledger in his history has never been hacked. Ledger is not open source. This is the wallet with the most supported tokens, connectivity is via USB cable (computer) or bluetooth (mobile). On Ledger Live you can also stake your tokens! The various wallets Metamask (ETH and EVM), Phantom (Solana), etc. are also supported!
-Nano S Plus: it is less expensive because the display is smaller and supports connectivity via USB cable only. These are the substantial differences.

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TREZOR
-Model T: has a 1.54 inch touch display and USB cable. A computer is required as it does not support mobile connectivity. Software and firmware are open source. Trezor checks the authenticity of the firmware continuously so if our computer is infected (if it affects the security of our wallet), it will delete all data (not our crypto of course! Remember that crypto reside in the blockchain! The hardware wallet is only a viewer that allows you to receive / send crypto). CoinJoin (privacy feature) will also be integrated on these wallets.

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In addition to the seed (which allows you to recover our wallet on other Trezor, Ledger or software wallet such as Exodus or Electrum), there is also a "passphrase" (a word that is added to the 24 of the seed) and a "samir backup" ( a multisig feature that allows you to add 2 more seeds; the unlocking of the wallet takes place knowing at least 2 seeds out of 3).
Atom, Polkadot, Solana, Algorand, Flow, Hedera, Filecoin, Egld, Apecoin, Vet and Tron are not supported by Trezor.
-Mobile One: the cost is about 1/3, the big difference is the lack of the touch screen, the "samir backup" and a few less supported tokens. The Kraken exchange managed to hack Trezor in about 15 minutes but it assumes the stealing of the physical hardware.
You can learn more here: How Kraken Cracked The Trezor Wallet In 15 Minutes

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Even for the hacking problem that has been mentioned, the best choice is definitely the Ledger. The main drawback is that Ledger is not Open Source, unlike the Trezor!

 

Are you interested in ways to earn crypto bonus? Check it out here: Some Sites To Earn Crypto Bonus (Old & New)

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