Meet Vault12 at CryptoMondays London, December 9, 2024 and The Digital Commonwealth Awards, London, December 13, 2024

Crypto Wallet Guides

Comparison of Ledger Nano X and Trezor Model T


When choosing the best hardware wallet for cryptocurrency security, you may wonder:

  • Which is better, the Ledger Nano X or the Trezor Model T?
  • How easy to use are they?
  • How do their security features compare?
  • Do these wallets have vulnerabilities, or have they been hacked?
  • What happens if your wallet is lost or stolen?
  • How do these wallets handle Crypto Inheritance Management?

This article compares these characteristics for popular wallets. We’ll break down the strengths and weaknesses of each, focusing on security, ease of use, and backup methods.

Additionally, we’ll explore the critical topic of inheritance and backup for crypto assets — a crucial feature 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 crypto wallets to use?

Let's compare the key aspects of both wallets side by side, and then summarize what really stands out for user convenience:

Ledger Nano X

Trezor Model T

Display

1” Monochrome OLED,
128 x 64 pixels

1.54" Color LCD,
240 x 240 pixels

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
iOS (View only)

3rd party wallets and dapps support

50+

9

Password manager & 2FA

FIDO2 2FA & Passkeys, Password Manager

FIDO2 2FA

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

Crypto wallet user experience (UX) differences

Ledger Nano X:

Disadvantages:

  • The display is literally the size of a coin: very uncomfortable to use.
  • Requires two-handed operation, making it difficult to use with a phone simultaneously — contrary to some misleading ads.
  • The buttons are stiff, making operations cumbersome.

Advantages:

  • Offers Bluetooth connectivity — works with or without a 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 a cable.
  • iOS is a balance view-only app, so you can't send transactions from iOS.

Advantages:

  • The display is much more convenient to work with on a regular basis, and easy to read.
  • The touchscreen and input are very well-thought-out experiences on Trezor Model T — you can use it without any discomfort.

How do these wallets' security features compare?

Now, we dive deeper into the core specification of every hardware wallet: security features.

Ledger Nano XTrezor 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

Crypto wallet security feature differentiators

Ledger Nano X:

Disadvantages:

  • Critical components like the Secure Element and its operating system are closed-source. This 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. This is important for users who prefer not to complicate their security with BIP39 passphrases, prioritizing ease of use.

Trezor Model T:

Disadvantages:

  • Lacks a Secure Element, making it resistant to physical attacks only if a BIP39 passphrase is used. This is a significant drawback in both convenience and its ability to be fault-proof.

Advantages:

  • Fully open-source software and hardware. This minimizes third-party risks, and avoids any need to rely on 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.

Far from delivering uncompromised security, these wallets are routinely subject to malware, supply chain, and firmware vulnerabilities, Here are some recent notable incidents:

Ledger Nano X:

  1. The Connect Kit Attack (2023): The Connect Kit breach was discovered by the security teams of Ledger.
  2. Ledger User Data Breach (2020): A major data breach exposed the personal information of thousands of customers, leading to phishing attacks.
  3. 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.
  4. Ledger Live (2020): Users were exposed to basic double spending attacks, amplified double spending attacks, and DoS attacks without user consent.
  5. Potential Supply Chain Attack Vulnerability (2020): Kraken Security Labs Identifies Supply Chain Attacks Against Ledger Nano X Wallets.

Trezor Model T:

  1. Ability to Physically Hack Trezor T Wallet (2023): Crypto Security Firm Unciphered Claims Ability to Physically Hack Trezor T Wallet
  2. 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.
  3. 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 software is perfect, and no wallet is ideal. However some are more compromised than others.

What happens if your wallet is lost or stolen?

Security is paramount, but in the world of crypto, the degree to which the backup and recovery solutions are foolproof is equally important. Here are the backup and recovery options for these two wallets:

Ledger Nano X

Trezor Model T

Backup & Recovery methods

Recommend Recovery Seed Phrase be written on paper, or engraved onto metallic plates.

Recommend Recovery Seed Phrase be written on paper, or engraved onto metallic plates.

Optional paid subscription

Ledger Recover, a centralized 3rd-party cloud service, highly criticized by the crypto community. Clouds are not safe — especially when operated by multiple 3rd parties.

No.

Backup and recovery differentiators

Ledger Nano X Recover service:

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 in a Cloud. This introduces risks, as the seed phrase could potentially be accessed via subpoena, Business partners could terminate agreements or become involved in lawsuits that result in locked data or resources (like, for example, Gemini and Genesis), as well as introducing critical points of failure.

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 even though Ledger is not providing the complete cloud back up solution.

Trezor Model T:

Disadvantages:

  • Trezor's has a Multishare backup service, but it is fully manual, and challenging to maintain. The user is responsible for generating, distributing, and keeping track of the encrypted shards.

Advantages:

  • Trezor does offer a Multishare backup option for those who are able and willing to set it up.

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 careful users who want to ensure that their crypto assets can be transferred to their heirs.

Ledger Nano X

Trezor Model T

Backup

- Written only
- Optional 3rd party KYC-based cloud

- Written only

- Manual sharing of shards

Inheritance

No

No

Decentralized backup with Vault12

Yes

Yes

Inheritance Management with Vault12

Yes

Yes

Vault12 provides a Solution for Crypto Inheritance

Vault12 is the pioneer in Crypto Inheritance Management that delivers 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 uses a hybrid approach of software fused with the secure element of phone devices (The Secure Enclave for iOS devices, and Strongbox for Google devices). Vault12 Guard enables users to appoint a person or mobile device as a 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. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them 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.

  • 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
Crypto Wallet Guides

Comparison of Ledger Nano X and Trezor Model T


Discover More
avatar-icon

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.

avatar-icon

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.

star-background

Backup and Inheritance for Bitcoin

vault12-guard
Get the Vault12 app onto your phone
QR code Vault12 Crypto/NFT InheritanceDownload Vault12 on App StoreDownload Vault12 on Google Play
Vault12 app mockup
Scroll down
Close

Vault12 Product Demo

Get The Vault12 App Onto Your Phone

Download Vault12 on App StoreDownload Vault12 on Google Play
You will lose your Bitcoin and other crypto when you die...

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 crypto inheritance, nobody else will — not your software or hardware wallet vendors, not your exchanges, and not your wealth managers. So it's up to you 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 that range from hacking to accidental loss to disrupted cloud services.
  • Software wallets operate onspecific 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.
Vault12 is the pioneer in crypto inheritance management. Watch our explainer video above, or our inheritance demo today.
Screenshot of Vault12 Guard apps - Add an Asset screen

Crypto Inheritance Management: Get ready today

Vault12 is the pioneer in Crypto Inheritance Management, and offers an easy-to-use and secure method for assigning a legacy contact to your crypto wallets. Vault12 Guard enables you to pass on your wallet seed phrases and private keys for any cryptos including Bitcoin (BTC) and Ethereum (ETH) to future generations. It's designed for everyday people, yet strong enough for Crypto OGs.

This innovative, decentralized system uses a hybrid approach of software fused with the Secure Element of phone devices (the Secure Enclave for iOS devices, and Strongbox for Google devices).

Vault12 Guard enables users to appoint one or more people or mobile devices as Guardians. The designated Guardians are entrusted to collectively protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them 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 (which could lead to privacy breaches). Simply put, Vault12 Guard is the best way to preserve crypto generational wealth.

Screenshot of Vault12 Guard app - Adding data into the Vault

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.