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Ledger Nano X vs Trezor T: Which Wallet is Better in 2023?

source-logo  coincodex.com 25 May 2023 17:57, UTC

The Ledger Nano X and Trezor Model T are two of the best cryptocurrency hardware wallets for securely storing digital assets. They both offer a comprehensive set of features and a commendable security stack.

While the two models share many similarities, they also have quite a bit of difference in terms of design, software, number of supported cryptocurrencies, and more.

In this article, we are going to compare the Ledger Nano X vs Trezor T in order to help you decide which cryptocurrency wallet is better for your particular set of needs.

Ledger Nano X vs Trezor T – Side-by-side comparison

The Ledger Nano X and Trezor T are high ends offers of the two leading hardware wallet manufacturers. We’ve prepared a side-by-side chart comparing Ledger Nano X vs Trezor Model T so you can quickly compare their features.

Ledger Nano X Trezor Model T
Price $149 $219
Security EAL 5+ certified Secure Element
PIN protection
24-word recovery phrase
CE and RoHS certified
PIN protection
Shamir Backup
Connectivity USB-C
SD Card
Supported cryptocurrencies 5,500+ coins and tokens 1456 coins and tokens
Software suite desktop, Android and iOS desktop, browser, Android and iOS (only txn tracking)
Display 128x64 px, OLED 1.54'' Touchscreen Color LCD (240x240 px)
Dimensions 72x18.6x11.7mm (2.83x0.73x0.46 in) 64x39x10 mm (2.52x1.54x0.39 in)
Weight 34g (1.19 oz) 22 g (0.77 oz)
Box contents Ledger Nano X
USB-A to USB-C cable
getting started leaflet
3x recovery sheets keychain strap
Model T
Magnetic dock
2x Recovery seed card
USB-A to USB-C cable
Trezor stickers

Who should choose the Ledger Nano X?

The Ledger Nano X is currently the most premium wallet in Ledger’s lineup (until the Ledger Stax starts shipping later this year), offering supports for NFTs, durable and lightweight design, and seamless connection with mobile devices. If the following applies to you, then the Nano X could be a good choice for you:

  • You are involved in investing in a diverse range of cryptocurrencies and require a wallet that supports a vast array of coins and tokens
  • You are looking for a great value-to-price deal
  • You need seamless connectivity with your mobile device

Get a Ledger Nano X

Who should choose the Trezor Model T?

The Trezor Model T stands out as the leading product among Trezor's range of hardware wallets, and is widely considered as one of the best crypto hardware wallets. It caters to crypto enthusiasts and individuals who prioritize the convenience and user-friendliness offered by its spacious touch screen color LCD. If any of the following requirements resonate with you, then the Trezor Model T is the ideal option:

  • You desire a cryptocurrency wallet that features a generous touchscreen display
  • You appreciate the significance of a powerful processor to ensure smooth and seamless wallet operations
  • You prefer no battery design that can last for years when not in use

Get a Trezor Model T

Price point

The Ledger Nano X retails for $149. The Nano X is not exactly cheap, but is still significantly less expensive than Trezor’s flagship offering, as the Trezor Model T retails for $219.

There are several differences between the two devices. For starters, the Nano X supports Bluetooth connectivity and out-of-the-box support for both Android and iOS devices, whereas the Model T has no Bluetooth and only limited support for mobile devices (more on that later).

It is worth noting that both devices can be bought for a lower amount than their MSRP, as both Ledger and Trezor regularly run discounts that make purchasing either device a better value for your buck.

Basic features

Both the Ledger Nano X and Model T are, at their core, devices meant to sign cryptocurrency transactions, and they do an excellent job at it. They have robust security, easy to use interface, and support for hundreds of cryptocurrencies and third-party services and products.

A major difference between the two is that the Ledger Live software, the software wallet that ships with the Ledger Nano X, supports non-fungible tokens (NFTs) out of the box, whereas Model T and other Trezor devices can be used for NFTs only via third party solutions like MetaMask.

Whereas from the software standpoint, there aren’t many differences, there is quite a significant difference in terms of design between the two devices. The Nano X has an OLED display and is controlled by physical buttons for entering the PIN and confirming transactions. The Model T boasts a colorful touchscreen LCD that makes handling the device much easier and makes the overall experience much more comfortable, especially for beginners.

Security features and certifications

The Ledger Nano X employs a Secure Element chip to generate and store sensitive data, protecting it from various attack vectors. Ledger's Secure Element has EAL 5+ certification, the highest level of security against penetration tests.

Ledger's hardware wallets utilize the BOLOS operating system, which enhances security. During setup, the device generates a recovery phrase consisting of 24 words. This phrase is crucial as it provides access to your cryptocurrencies, similar to private keys. Safeguarding the recovery phrase and not sharing it with others is essential. If the Ledger wallet is lost or stolen, the recovery phrase can be used to access the crypto with another wallet.

The Model T utilizes a highly secure random number generator to generate unique and virtually unguessable seeds, which are kept offline to safeguard them from online attacks.

At the user level, a personal identification number (PIN) with up to 50 characters prevents unauthorized access to the device. Moreover, technical barriers are in place to prevent sophisticated attackers from extracting private keys. One effective measure is the use of a passphrase, which encrypts the seed with a user-selected phrase.

Trezor wallets can also function as two-factor authentication (U2F) tokens, providing secure login for various services like Twitter, Google, and Github. They offer the capability to sign and verify messages, which can be useful for proving ownership of a specific address.

The Trezor Model T introduces Shamir Backup, a new security standard allowing users to create multiple recovery shares for their private keys. These unique shares, specified by a set number called the threshold, are required to be collected and used together for wallet recovery. The previous model, Trezor Model One, does not have this feature.

Both the Ledger Nano X and Model T require a PIN code for transaction confirmation, acting as an obstacle for potential thieves. If the hardware wallet is stolen, the PIN code should provide enough time to restore the wallet using the recovery phrase and transfer funds to another wallet.

It's worth noting that while the hardware wallet stores the private keys, the cryptocurrency itself is not tied to the device. Therefore, even if the Trezor or Ledger wallet is lost, crypto can still be accessed with the backup of the recovery phrase.

Connectivity with mobile devices

There is quite a bit of difference between the Ledger Nano X and Model T when it comes to mobile devices. The Nano X can be connected either via USB cable or Bluetooth to both iOS and Android devices and can be used for signing transactions via the mobile version of the Ledger Live app.

The Model T currently supports only tracking transactions via the Trezor Suite Lite, which is available for both iOS and Android. If you want to verify transactions on the go, then you have to connect your device with a cable to your phone and navigate to https://suite.trezor.io/web/ and follow the instructions.

However, there are third-party solutions that allow Trezor users to use their wallets to make crypto payments on the go. Trezor has official support for Mycelium, Sentinel, or Walleth mobile wallets.

Supported software wallets

The native software wallet for Ledger devices is Ledger Live, which the Nano X also uses. It allows users to manage their cryptocurrencies, make transfers, buy and sell crypto, as well as manage their NFT collections. The app features a simple portfolio tracker that allows you to quickly see the current state of your different crypto accounts.

Trezor Suite is very similar to Ledger Live in terms of features and design. From this writer’s perspective, Trezor Suite is a little better looking and more pleasant to use. Unfortunately, Trezor Suite has no native support for NFTs, and third-party solutions have to be used to manage digital collectibles.

Supported cryptocurrencies

Trezor and Ledger support hundreds of different cryptocurrencies. There is a caveat, though. The Ledger Nano X does officially support over 5,500 coins and tokens. However, that’s the entire roster of supported cryptocurrencies when accounting for officially supported third-party wallets. Natively, Ledger Live supports roughly 500 coins and tokens.

According to Trezor, the Model T supports 1456 coins and tokens via the Trezor Suite, including all the major coins like Bitcoin, Ethereum, Cardano, XRP, and hundreds of others.

Whether you go for the Nano X or Model T, you shouldn’t have any problems managing any of your cryptocurrencies as both devices offer an impressive range of supported crypto assets, especially when paired with third-party wallets.

The bottom line: Both the Ledger Nano X and Trezor Model T are great devices

Deciding between the Ledger Nano X and Trezor Model T comes down to your personal preference, as both devices offer an impressive feature set that should satisfy even the most demanding users.

The major difference between the two devices is the mobile device integration, which is significantly better when using Ledger than Trezor. However, Trezor has committed to improving its mobile app to include additional features in the short term, so the gap might become even smaller in the future.

Buy a Ledger Hardware Wallet

If you want to ensure an additional layer of security for your recovery phrase, we suggest you buy a metal device resistant to physical damage that will protect your recovery phrase whether you are using Trezor or Ledger. For more information, check our comparison of the 12 best metal devices for seed phrase storage.