Trezor Model T vs Ledger Nano X full comparison

From the Trezor One being the only crypto hardware wallet in the market to the release of Ledger Nano s. Truly the cryptocurrency industry has continue to experience steady growth. In this article, I am comparing Trezor Model T vs Ledger Nano X.

Which Is better Trezor Model T Or Ledger Nano X?

It depends, each wallet has its own uniqueness and features. Factors like price, functionality, your needs, etc plays a big role here. In this article you will see the two wallets go head-to-head and by the end of this comparison, you will have enough information to market the right decision for you.

Features Trezor Model T Ledger Nano X
Type Of Wallet Hardware (Cold Wallet) Hardware (Cold Wallet)
Size 64.0mm x 39.0mm x 10.0mm 72.0mm x 18.6mm x 11.75mm
Weight 16g 34g
Currencies 1816 5,500
Bluetooth No Yes
Battery No Yes
Mobile App No Yes (IOS/Android)
Open Source Yes Yes
CPU 168 MHz embedded ARM processor (Cortex-M4) running a custom developed system, the Trezor Core. ST33J2M0 (secure) + STM32WB5

What Is Trezor Model T

Released Date: February 26, 2018

Company: SatoshiLabs

Country: Prague, Czech Republic

Trezor Model T is the second hardware wallet from SatoshiLabs, one of the major players in the cryptocurrency hardware wallet market. The Trezor Model T was released on February 26, 2018 succeeding the Trezor One which was released on July 29, 2014.

Trezor Model T Key Features

  • Passphrase Support
  •  Affordable
  •  Open-Source
  •  Color Touchscreen
  •  Quick & Easy Setup
  •  Multisig Support

What Is Ledger Nano X

Released Date: May 28th, 2019

Company: Ledger

Country: Paris, France

Manufactured in France by Ledger. Ledger is one of the top companies that manufactures cryptocurrency hardware wallets. The Ledger Nano X was released on May 28, 2019. The Ledger Nano X is preceded by Ledger Nano S which was released on June 20, 2016.

Ledger Nano X Key Features

  •  User friendly
  •  USB-C cable
  •  Bluetooth Enabled
  •  Improved display
  •  Multi-signature Support
  •  Passphrase support

Battery

The Ledger Nano X has a 100mah battery, which can be charged when you connect it to your laptop or PC. The battery is estimated to last to 3 months when not in use and can last 8 hours when in steady use.

The Trezor Model T doesn’t have a battery. It derives its power from your laptop or PC

Software

The Trezor Model T comes with android and IOS app, a windows and MacOS, while the Ledger Nano X comes with all the apps and software as Trezor, but with addition of Linux software. The Trezor Model T can send, receive, store and trade but Ledger is missing the trade feature. The two wallets are built using an open source framework.

Features Trezor Model T Ledger Nano X
Wallet Software Windows Software
MacOs Software
Android App
iOS App
Android App
iOS App
Windows Software
MacOS Software
Linux
Software Functions Receive
Send
Store
Trade
Receive
Send
Store
Transaction Fee Control Yes Yes
Password Manager Yes Yes
Open-Source Yes Yes
Customer Support Yes Yes

Connectivity

When it comes to connectivity, the two are not a lot different. The only different is that the Ledger Nano X comes with bluetooth and wifi connectivity but Trezor Model T comes with only the USB.

Features Trezor Model T Ledger Nano X
Wallet Connectivity USB Bluetooth
USB
Wifi
Wallet Control Mobile
Dekstop
Mobile
Dekstop

Supported Cryptocurrencies

There is a significant gap between the number of cryptocurrencies the two wallets support even though they both support ERC20. Trezor Model T supports 1,816 cryptocurrencies while Ledger Nano X supports a whopping 5,500 cryptocurrencies.

Trezor Model T is compatible with Exodus + 40 more wallets/exchanges and the Ledger Nano X is compatible with MyCelium, Exodus + 48 more wallets/exchanges.

Features Trezor Model T Ledger Nano X
Number of Supported Crypto/Token 1,816 5,500
ERC20 Support Yes Yes
Compatibility With Wallets/Exchanges Exodus + 40 more MyCelium, Exodus + 48 more
Bech32 Yes Yes
Legacy Addresses Yes Yes
SegWit Yes Yes

Security

Features Trezor Model T Ledger Nano X
Multi-signature Yes No
Pin Code Yes Yes
2FA Two-factor Authentification Yes Yes
Private Key Owner You You
Anonymity Level Great Great
Backup Type 24-word Recovery Phrase 24-word Recovery Phrase
Full Wallet Control Level Great Great
Security Level Great Great

Setup Process

The initial setup process of both the hardware device is identical.

Ledger Nano X Setup:

  • Start the device by plugging it in a desktop or mobile or connect using Bluetooth.
  • Download and install the Ledger Live app
  • Initialize the device and write down the seed words it shows.
  • Confirm those seed words.
  • Set a PIN & you are ready to use the device through the Ledger Live app

Trezor Model T Setup:

  • Download and install the Trezor app.
  • Connect the device to a desktop and install the firmware as  Trezor comes without it.
  • Once the firmware is installed, remove and replug your device.
  • Select ‘Create a new wallet’ and take the backup of the recovery seed.
  • You are set to use your Trezor Model T.

Note: The two wallets have a C-type port and also provide a USB-C connector in its toolkit for connecting to your desktop or mobile phone.

Price

Pricing Trezor Model T Ledger Nano X
Base Price See Price See Price
Money Back Guarantee 14 Days 14 Days
Service Fees No No

Payment Methods

Payment Methods Trezor Model T Ledger Nano X
Wire Transfer No Yes
Credit/Debit Card Yes Yes
Paypal No Yes
Cryptocurrency Yes Yes

FAQ

What Types Of Cryptocurrency Wallets Are There?

There are four (4) types of cryptocurrency wallets, they are hardware, online, software(App) and paper wallet.

Each of these types of wallets have their pros and cons, and are therefore going to be perfect for different types of people, for different needs and preference.. Security-wise, paper wallets are seen as the best alternative, while convenience-wise, software and online ones should be your go-to options.

What Is The Best Cryptocurrency Wallet Type?

Paper and Hardware wallets still remain the best though the choice of wallet can be personal based on preference but since wallets are for safeguarding cryptocurrencies, meaning that security is of utmost importance, these two wallets remain the best since they give you full control.

Are Hardware Wallets Worth Investing In?

There is no definite answer to this question since choice of wallet is large determined by personal needs, capacity and preference, therefore it depends. Still in most cases it is worth investing in. If you’re new in cryptocurrency trading and investing, a hardware wallet might be too over board for you – it is generally considered that hardware wallets should be purchased once you have a significant amount of crypto, and want to keep it safe. If you’re an active trader, that can also dissuade the matter even further – trading-wise, software and online wallets are much more convenient.

What Are “Cold” And “Hot” Wallets?

Cold wallets are hardware devices that are able to store cryptocurrencies offline, while Hot wallets are those storage pieces of software that keep a constant connection to the internet. Safety-wise, cold wallets are considered the best option – since they are always offline, you don’t need to worry about some sort of a hacker stealing all of your cryptocurrency assets.

Which Is Easier To Use Trezor Model T Or Ledger Nano X?

The Trezor Model T earns slightly higher ratings for ease of use over the Ledger Nano X due to the color touchscreen. Although the Nano X is slightly larger than the Nano S, with a bit more spacing between the physical buttons, the screen is still harder to read than the Trezor.

Has Ledger Been Hacked?

Yes, In July 2020, the cryptocurrency hardware wallet manufacturer known as Ledger was hacked. About 272,000 customers were affected by the data breach with approximately one million email addresses leaked. Personal information such as postal addresses and first and last names were exposed, the company stated.

Has Trezor been hacked?

No, though a white-hat hacker had in January 2022 gone on Youtube to show how he was able to recover his cryptocurrency assets worth over $2 million from his wallet when he lost the PIN by hacking the Trezor One.

Does Trezor Support More Coins Than Ledger?

No.

Trezor Model T currently support about 1,816 coins, whereas Ledger Nano X supports about 5,500 coins currently.

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