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Contents
- How easy are these wallets to use?
- Main UX differentiators
- How do their security features compare?
- Main security differentiators
- Have there been vulnerabilities or hacks of these wallets?
- What happens if your wallet is lost or stolen?
- Backup and recovery differentiators
- How do these wallets handle Crypto Inheritance Management?
- Vault12 as a Solution for Crypto Inheritance
- Summary
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Crypto Wallet Guides
Advantages:
Comparison of Ledger Nano X and Trezor Model T
October 03 2024
When choosing the best hardware wallet for cryptocurrency security, many questions arise:
- Which is better, the Ledger Nano X or the Trezor Model T?
- How easy are these wallets to use?
- How do their security features compare?
- Have there been vulnerabilities or hacks of these wallets?
- What happens if your wallet is lost or stolen?
- How do these wallets handle Crypto Inheritance Management?
This article discusses these dimensions by comparing them with popular wallets. We’ll break down the strengths and weaknesses of each device, focusing on security, ease of use, and backup methods.
Additionally, we’ll explore the critical topic of inheritance and backup for crypto assets — a feature crucial for long-term planning. By the end of this comparison, you’ll clearly understand which wallet is right for you and how to address the often-overlooked safety issue of recovering your crypto assets in case of loss.
How easy are these wallets to use?
Let's compare the key convenience specifications of both side by side, and then summarize what really stands out in terms of convenience from the user's point of view:
Ledger Nano X | Trezor Model T | |
Display |
1” Monochrome OLED, |
1.54" Color LCD, |
Input interface | 2 click buttons | Touchscreen |
Cable | USB | USB, MicroSD card slot |
Wireless | Bluetooth | No |
Companion Apps | macOS, Windows, Linux, Android, iOS |
macOS, Windows, Linux, Android |
3rd party wallets and dapps support | 50+ | 9 |
Password manager & 2FA | FIDO2 2FA & Passkeys, Password Manager | FIDO2 2FA & Passkeys, Password Manager |
Product size & weight | 72 x 19 x 12 mm / 34g | 64 x 39 x 10 mm / 22g |
Convenience features | Battery (Up to 5 hours of normal use) | Magnetic dock |
Number of supported coins | 5,500+ | 1,600+ |
Price | $149 | $149 |
Main UX differentiators
Ledger Nano X:
Disadvantages:
- The display is literally as a size of coin, uncomfortable to use.
- Requires two-handed operation, making it difficult to use it with a phone simultaneously — contrary to some misleading ads.
- The buttons are stiff, making long operations cumbersome.
Advantages:
- Offers Bluetooth connectivity - works with cable, at least with smartphones.
- Wide support for third-party wallets and dapps, allowing the Ledger Nano X to sign transactions directly in MetaMask, Uniswap, and other platforms without relying on Ledger Live software. This is a huge advantage for DeFi users.
Trezor Model T:
Disadvantages:
- No wireless connectivity, you always have to use cable.
- iOS is a balance view-only app - you can't send transactions from iOS. And have to use cable.
Advantages:
- The display is much more convenient to work with on a regular basis, easy to read.
- The touchscreen and input are very well-thought-out experiences on Trezor Model T, can use everyday without feeling painful.
How do their security features compare?
Now, we dive deeper into the core specification of every hardware wallet—security:
Ledger Nano X | Trezor Model T | |
PIN-code | 4 - 8 digits | up to 50 digits |
BIP39 Passphrase | Yes | Yes |
Open-source | Partial | Full |
Secure Element | Yes | No |
Multisignature | Yes | Yes |
Main security differentiators
Ledger Nano X:
Disadvantages:
- Critical components like the secure element and its operating system are closed-source, which has raised concerns, especially after the controversial introduction of the Ledger Recover backup service, which challenged the assumption that the secure element could never transmit the recovery seed phrase outside the hardware wallet.
Advantages:
- Includes a secure element, giving Ledger devices a strong reputation for withstanding physical attacks — important for users who prefer not to complicate their security with BIP39 passphrases, and have ease of use.
Trezor Model T:
Disadvantages:
- Lacks a secure element, making it resistant to physical attacks only if the BIP39 passphrase is used — a significant drawback in both convenience and fault-proofness.
Advantages:
- Fully open-source software and hardware, minimizing third-party risks, no need to trust.
- Allows for longer PIN codes, which might appeal to particularly cautious users.
Have there been vulnerabilities or hacks of these wallets?
There have been vulnerabilities and hacks associated with both the Ledger Nano X and Trezor Model T. Here are some notable incidents:
Ledger Nano X:
- The Connect Kit Attack (2023): The Connect Kit breach was discovered by the security teams of Ledger.
- Ledger User Data Breach (2020): A major data breach exposed the personal information of over 270,000 customers, leading to phishing attacks.
- Another User Data Breach (2021): Ledger announced on Twitter that it has been targeted by rogue Shopify team members who exported over 200 merchants’ customer databases.
- Ledger Live (2020): Users were exposed to basic double spending attacks, amplified double spending attacks, and DoS attacks without user consent.
- Potential Supply Chain Attack Vulnerability (2020): Kraken Security Labs Identifies Supply Chain Attacks Against Ledger Nano X Wallets.
Trezor Model T:
- Ability to Physically Hack Trezor T Wallet (2023): Crypto Security Firm Unciphered Claims Ability to Physically Hack Trezor T Wallet
- Five Reported Vulnerabilities in Two Models of Trezor Hardware Wallets (2019): Ledger’s Attack Lab has found five vulnerabilities in hardware wallets of its direct competitor Trezor.
- Kraken Identifies Critical Flaw in Trezor Hardware Wallets (2020): Kraken Security Labs has devised a way to extract seeds from both cryptocurrency hardware wallets offered from industry leader Trezor, the Trezor One and Trezor Model T.
No one ideal.
What happens if your wallet is lost or stolen?
Security is paramount, but in the world of crypto, how fool-proof the backup and recovery solutions are is often a more common concern. Here are the backup and recovery options for such scenarios:
Ledger Nano X | Trezor Model T | |
Backup & Recovery methods |
- Recovery Seed Phrase suggested to be written on paper, or purchase metallic plates. | - Recovery Seed Phrase, suggested to be written on paper, or purchase metallic plates. - Multi-share Backup. |
Optional paid subscription | Ledger Recover, a centralized 3rd party service, highly criticized by the community | No |
Backup and recovery differentiators
Ledger Nano X:
Disadvantages:
- The optional Ledger Recover backup service, mentioned earlier, is a paid service provided by three corporations that hold parts of the user’s seed phrase. This introduces a risk, as the seed phrase could potentially be accessed via subpoena.
Advantages:
- People have different preferences. If a user is comfortable trusting a bank with their assets, they may also feel confident using Ledger Recover for securing their seed phrase backup.
Trezor Model T:
Advantages:
- Trezor offers a Multishare backup option, though it is fully manual and challenging to maintain.
How do these wallets handle Crypto Inheritance Management?
Crypto Inheritance Features
Currently, most hardware wallets, including the Ledger Nano X and Trezor Model T, lack any features for arranging and managing crypto inheritance. This gap presents a dangerous challenge for adequate and careful users who want to ensure the risks of their digital assets are appropriately managed in case of their demise.
Ledger Nano X | Trezor Model T | |
Backup |
- Written only | - Written only - Manual sharing of shards |
Inheritance | No | No |
Decentralized backup with Vault12 | Yes | Yes |
Inheritance Management with Vault12 | Yes | Yes |
Vault12 as a Solution for Crypto Inheritance
- Traditional approaches to the inheritance of assets, when applied to digital assets, create complexity and risk.
- Your portfolio of digital assets is continually changing — you cannot rely on doing an inventory once, or for that matter continuously, without assistance.
- This simple and direct approach reduces the uncertainty around assets not being available to the designated recipient. It also avoids having to approach and petition each service individually during probate to gain access.
- Both the Ledger Nano X and Trezor Model T are compatible with Vault12 Guard Inheritance, which addresses the seed phrase backup dilemma for any hardware wallet. This makes less secure backup methods, such as paper or steel plates, unnecessary.
Vault12 Guard Crypto Inheritance Management is the first solution to offer a simple, direct, and secure way for all types of investors to ensure that all of your digital assets can be accessed by future generations. Utilizing advanced encryption and decentralized storage, Vault12 ensures that crypto assets are not only safe but also transferable under predefined conditions, filling a critical need unmet by most traditional hardware wallets.
Summary
The Ledger Nano X and Trezor Model T both provide various security measures, supporting a broad spectrum of cryptocurrencies which makes them suitable for diverse crypto portfolios.
The Ledger Nano X is more mobile-friendly and offers a balance of security and convenience features with a small display and hard input, with the advantages of a Secure Element and wireless connectivity options like Bluetooth.
On the other hand, the Trezor Model T, at the same price, boasts a fully open-source framework, larger display with colors, and touchscreen interface for enhanced user interaction, but with reduced security and convenience from not having a Secure Element and working only with USB connections.
The decision between the two may hinge on individual preferences for the target platform (mobile or desktop) and frequency of use. However, remember to add a crypto inheritance feature to your choice of wallet to ensure the long-term safety of your assets.
https://www.linkedin.com/in/artk42/
https://startag.xyz/artk42
Art Krotou
Art is a crypto-security expert and researcher with serial entrepreneurship background. Having a degree in physics and experiences in multiple cutting-edge industries like fintech, secure hardware and semiconductors, and identity gave him a unique multi-faceted perspective on the problem of key management for individuals in the crypto networks and the evolution of the internet in general.
In his current work, he is specifically researching how cryptographic keys can be inherited without posing a threat to 3rd parties in edge cases. In addition, he advocates for "fault-tolerance via secrets automation". He discusses the quantitative impact of user experience factors on the uptake of non-custodial solutions.
As one of his most notable accomplishments, he co-founded and led through the early years of the company that contributed to the complex technology behind Apple's recent M-series CPUs. He is also the creator of the most friendly and aesthetically pleasing, but nonetheless super secure and fault-tolerant hardware wallet - U•HODL.
Check out his curated series of "Vault12 Learn" contributions below, and follow him on Twitter and LinkedIn for more sharp insights.
Vault12
Vault12 is the pioneer in crypto inheritance and backup. The company was founded in 2015 to provide a way to enable everyday crypto customers to add a legacy contact to their cry[to wallets. The Vault12 Guard solution is blockchain-independent, runs on any mobile device with biometric security, and is available in Apple and Google app stores.
You will lose your Bitcoin and other crypto when you die...
...unless you set up Crypto Inheritance Management today.
It's simple—if you don't worry about it, nobody else will—not your software or hardware wallets vendors, not your exchanges, not your wealth managers. So you have to think about how to protect the generational wealth you have created and reduce the risks around passing that wealth on to your family and heirs. What are the challenges with crypto inheritance?
- Crypto Wallets are difficult to use and do not offer crypto inheritance management. In fact, most of them tell you to write down your seed phrase on a piece of paper which is practically useless.
- Some people back up their wallet seed phrases or private keys on paper, local devices like hardware wallets or USBs, or in the cloud - all of these options have severe drawbacks from hacking, to accidental loss, to loss of cloud services. No one wants that to happen to their crypto generational wealth.
- Software wallets operate on specific blockchains, yet your crypto assets span multiple blockchains, for inheritance to work, you must be able to manage inheritance across every blockchain - now and forever.
Crypto Inheritance Management: Get ready today
Vault12 is the pioneer in Crypto Inheritance Management that delivering an easy-to-use and secure method for assigning a legacy contact to your crypto wallets. This enables you to pass on your wallet seed phrases and private keys — including Bitcoin (BTC), Ethereum (ETH) — to future generations. Designed for everyday people, and strong enough for Crypto OGs.
This innovative, decentralized system enables users to appoint a person or mobile device as Guardian. The designated guardian is entrusted to protect the user's comprehensive collection of wallet seed phrases and private keys, safely stored within a decentralized digital Vault. No information is stored on cloud servers, or Vault12 servers and nothing is stored on local devices making it less of a target.
The Decentralized approach reduces points of failure and removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers, often leading to privacy breaches. It is the best way to preserve crypto generational wealth.
Take the first step and back up your crypto wallets.
Designed to be used alongside traditional hardware and software crypto wallets, Vault12 Guard helps cryptocurrency owners back up their wallet seed phrases and private keys (assets) without storing anything in the cloud or any single location. This increases protection and decreases the risks of loss. Making sure you have an up to date back up is the first step in crypto inheritance management.
The Vault12 Guard app enables secure decentralized backups and provides inheritance for all your seed phrases and private keys across any blockchain, including Bitcoin, Ethereum, ERC-20, and other crypto wallets.
Note: For anyone unfamiliar with cryptocurrencies, Vault12 refers to wallet seed phrases and private keys as assets, crypto assets, and digital assets. The Vault12 Guard app includes a software wallet that works alongside your digital Vault. The primary purpose of this is to guard your Bitcoin (BTC) or Ethereum (ETH) wallet seed phrases, private keys, and other essential data, now and for future generations.
Add a legacy contact for your crypto.