Introducing Vault12 Guard.
Summary
Introducing the newly-revamped Vault12 Guard app, Version 2.0, designed for everyday users and offering native support for NFTs, digital art, and Web3 wallets. The updated app provides a simplified onboarding experience, making it easier for users to create a Vault and add assets. With the option to assign Guardians for fully decentralized backup and inheritance, the app now supports subscriptions via both Apple iOS App Store and Google Play App Store.
Vault12 Guard offers a consistent user experience with enhanced features, such as support for Web3 wallets, NFTs, and digital art. The app also allows creators to secure multiple Web3 wallets and original media files without capturing personal information about subscribers and Guardians.
Existing Vault12 customers can easily update their app when it becomes available, with the app icon transitioning to a new design. The app's functionality remains unchanged, with Guardians still essential for a fully decentralized backup and inheritance.
What is Vault12 Guard?
Today, we're excited to release Vault12 Guard, Version 2.0, which offers an entirely revamped user experience catering to a broader audience. With this update, we're rebranding the app to "Vault12 Guard" to emphasize its core function—safeguarding your vital Web3 assets and ensuring their inheritance for future generations.
New Experiences
Our team has been diligently working to enhance the Vault12 app, making it more accessible for everyday users and not just security experts.
We've also expanded its capabilities to encompass NFTs and artwork alongside cryptocurrencies. Some of these improvements were implemented in "hybrid" updates last year, such as the immediate backup of seed phrases without needing Guardians, which significantly streamlined the onboarding process.
Furthermore, we introduced support for subscriptions through Google's Play Store earlier this year, aligning it with the Apple iOS App Store.
What are the new features in Vault12 Guard
- Simple and easy onboarding. Create a Vault, add assets, and you are done protecting the assets at hand.
- For fully decentralized backup and inheritance, you can assign Guardians at your convenience.
- Vault subscriptions can now be done via Apple iOS App Store and Google Play App Store.
- New consistent user experience as you use the app to learn more and activate capabilities.
- Supports Web3 wallets, NFTs - including multiple media files, and digital art.
- Create security for creator projects where there are multiple Web3 wallets - including royalty wallets and multiple original media files that need protecting.
- Eliminated the need to capture personal information about Vault subscribers and Guardians.
What does this mean for existing Vault12 customers?
When Vault12 Guard becomes available in app stores, you can effortlessly update your app. The app icon will transition to a new design, but apart from the interface changes, your Vault will continue functioning as before. No need to do anything else.
Why the name change?
#Fallout #Fallout25 @BethesdaStudios @Bethesda @Fallout @Kilter_Films
Amazon Prime Video
We believe that a name reflecting the app's primary purpose makes it more memorable and easily recognizable for potential users.
Additionally, with a new Fallout TV Show releasing this year, we wanted to distinguish our app from unrelated search results for "Vault12.”
How do I update the Vault12 app?
Simply update the app when it becomes available, and you'll see the new name and icon on your device. We recommend contacting your Guardians and encouraging them to update their app as well.
If Guardians are now optional, how does inheritance work?
Guardians are not optional if you want an entirely distributed, decentralized backup or want to configure Inheritance. All that has changed is you don't have to assign Guardians the moment you create a new Vault; you can safely add assets that are protected by your device's biometric security.
Fully distributed, decentralized backups are enabled by assigning Guardians, as before. This way, if you lose your phone, the entire Vault can be recreated on your new phone.
Crypto Inheritance: Roundup - February 2025
- Regs Update
- Vault12 Guard Product Updates
- Industry Updates
- New to Inheritance? Start here.
Regs Update
The SEC Crypto Task Force has spoken. In a posted statement, Commissioner Hester Peirce revealed her priorities for the immediate upcoming Task Force work.
Our analysis here focuses on how this work affects Vault12.
The first thing to note is that no regulations or laws have changed (other than rescinding the controversial SEC Bulletin SAB 121, which now enables Banks to conduct crypto custody). Until SEC policies actually change, or new bills are written and submitted to Congress, or pending lawsuits are finalised, everything that happens is simply directional, with no mandates. Therefore, companies must be careful to avoid straying into grey territory and potentially creating legal jeopardy - especially this close to the finishing line.
Let’s look at the top three key items:
- Security Status: This is a fundamental item of policy that needs clarification, and everything else will hang off the definitions used here. Are crypto tokens issued by software developers utilities, or are they securities?
- Coin and Token Offerings. What happens if, out of an abundance of caution (and lack of clarity), a token was issued as a security but in fact is used as a utility token? This was the subject of Commissioner Peirce’s “Safe Harbour 2.0” initiative under the previous administration.
- Special Purpose Broker Dealer: Under the last administration, the definition of “broker-dealer” was expanded, leading to a fundamental conflict with crypto trading platforms: centralised exchanges, decentralized exchanges (DEXs), smart contracts, etc. This expanded definition is misguided and unworkable, and currently the subject of active legal proceedings. These lawsuits needs to be settled so that the industry can get on with innovating and releasing financial products.
Once these items are sorted out, crypto companies will be free to conduct their business and have their tokens freely trading.
With the 2024 election behind us, this year is pivotal for #crypto policy and innovation. That's why I'm excited to take the stage at DC Blockchain Summit 2025 on March 26! Join top regulators, policymakers, and industry leaders as we discuss what's next for blockchain and digital assets in this new era.
Don't miss your chance to be part of the conversation driving a better tomorrow! https://bit.ly/DCB25 Discount Code:VAULT1220
Vault12 Guard Product Updates
We are excited to announce that Release 2.6.0 is coming soon:
- Now on Mac and iPad – Full official support through the App Store.
- Drag and drop on Mac – Instantly add assets to your Vault with a simple gesture.
- Smoother navigation – A refreshed Dashboard with a smarter layout helps you find what you need faster.
- Expanded search for more crypto wallets – Now compatible with 20+ more wallets.
- Enhanced Address Explorer – Now supports all major Bitcoin address formats, such as Segwit and Taproot.
- Performance improvements – Faster, smoother, and more reliable than ever.
Industry Updates
Earlier this month, we saw the Presidents’s Crypto and AI Czar, David Sacks, hold the first Crypto Press conference. In attendance were industry leaders and politicians — most of whom were affiliated with the CFTC through their committee assignments.
This has sparked rumours that any cryptocurrency not deemed a security will fall under the jurisdiction of the CFTC — a marked change. This is a simply a rumour at this stage.
The highlights of the conference were:
- Keeping crypto innovation onshore to ensure crypto innovation in financial technology keeps the US ahead.
- Formation of a bipartisan and bicameral working group to drive new legislation across SEC and CFTC.
- The role of stablecoins ensuring dominance of the US dollar, including a new bill with well-defined regulations bringing much-needed clarity to industry participants.
New to Crypto Inheritance? Start here
Have you been tracking a 2025 New Years resolution to get more organized with your digital life? If yes, then you are probably using a password manager to keep track of your passwords.
But hopefully you're not storing your digital wallet seed phrase in your password manager! And where are you storing the password to your password manager? It might be time for you to consider using a Digital Vault.
Are you growing more concerned about your online privacy? Is it possible for you to keep track of which third parties are giving others access to your data ... including data stored in encrypted Clouds? A new UK push for access to Apple iCloud data is leading even more people to think about how to protect their online privacy.
Ledger Stax and Trezor Model T: two strong wallets compared
When choosing hardware wallets, many crypto users base their decisions on day-to-day asset management needs and perceived device security. However, savvy crypto users first consider a wallet's ability to handle long-term security scenarios. Long-term security includes expected essentials like backup and recovery tools, and also often-overlooked features related to secure and fault-proof third-party recovery. You can think of third-party recovery as your ability to allow crypto assets to be inherited by successors. Successful crypto users require a comprehensive security strategy for the full life cycle of crypto assets. This article will help you achieve that.
Let's jump into helping you understand the pros and cons of the Ledger Stax and Trezor Model T for day-to-day activities, as well as their potential to safeguard the long-term security and longevity of your assets.
Overview
The Ledger Stax and Trezor Model T both provide a wide variety of reliable security features and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios. However, several differences are clear:
Ledger Stax
- Mobile-Centric Usability: Designed with mobility in mind, the
- Ledger Stax features wireless connectivity options like Bluetooth and
- NFC, making it highly compatible with mobile platforms.
- Premium Design: Its unconventionally large display enhances readability, though it comes with slower responsiveness included.
- Price Point: Positioned as a premium product, its cost reflects its advanced features and sleek design
- Mobile-Centric Usability: No Bluetooth connectivity. iOS app is view-only.
- General Usability: Smaller set of wallets, coins, and apps.
- Design: The touchscreen and input are very well-thought-out experiences.
- Price Point: More affordable.
In terms of crypto asset longevity features, such as backup, recovery, and crypto inheritance, both devices provide industry-standard and proprietary options with certain trade-offs, as well as compatibility with third-party solutions like Vault12 Guard for succession planning scenarios.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Approach to comparison
When choosing the best hardware wallet for cryptocurrency security, you may wonder:
- Which is better, the Ledger Stax or the Trezor Model T?
- How easy to use are these wallets?
- How do their security features compare?
- Do these wallets have vulnerabilities, and have they been hacked?
- What happens if your wallet is lost or stolen?
- How do these wallets accomodate user errors, and complex scenarios like inheritance of crypto assets?
This article compares important characteristics for these two popular wallets. We’ll break down the strengths and weaknesses of each, focusing on security, ease of use, and backup and recovery methods.
By the end of this comparison, you’ll clearly understand which wallet is right for you, as well as how to recover your crypto assets in case of accidents.
What happens if your wallet is lost or stolen?
Wise wallet owners recognize the critical importance of crypto recovery before they find themselves in an unexpected bind! That's why it's important to understand the fundamental topic of crypto asset longevity, including features such as backup, recovery, and inheritance for crypto assets. These considerations are central to long-term planning.
Technical security is paramount, but in the world of crypto, the degree to which backup and recovery solutions are foolproof for users is at least equally important. Here are the backup and recovery options for these two wallets:
How do these wallets handle Crypto Inheritance?
Crypto Inheritance Features
Currently, most hardware wallets, including the Ledger Stax and Trezor Model T, lack any features for establishing and managing crypto inheritance. This gap presents a challenge for users who want to be sure that their crypto assets can be transferred to their heirs.
Backup and recovery differentiators
Ledger Stax Recovery service Disadvantages:
- The optional Ledger Recover backup service is a paid service provided by three corporations that each 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); and there are multiple potential points of failure.
- Very important detail: The terms of the optional Ledger Recover service do not mention support for inheritance, meaning any unfortunate accident related to the user will make crypto assets unrecoverable for his or her successors. Ledger itself suggests using 3rd-party crypto inheritance services for those purposes.
Ledger Stax Recovery service 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 backup solution).
Trezor Model T backup Disadvantages:
- Trezor 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.
Trezor Model T backup Advantages:
- Trezor does offer a Multishare backup option for those who are able and willing to set it up.
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:
Crypto wallet user experience differences
User holding a mobile phone and using Ledger Stax as FIDO U2F security key
Ledger Stax Disadvantages:
- The display has a noticeable response delay due to the "E Ink" touchscreen technology, and could be irritating.
- Not all apps are ported to Stax yet. Even the native Passwords app still has no release date identified as of this article's publish date, so check in advance whether your favorite network/coin is supported.
- Extremely expensive. The value in Stax is more about design, rather than practical aspects.
Ledger Stax Advantages:
- Huge informative display and "Clear Signing" allows you to review and confirm all transaction details directly on Ledger Stax and in a human-readable language before they are signed and sent. This enhances security and ensures that you see exactly what you are approving in a secure and tamper-proof manner.
- Offers Bluetooth connectivity as well as NFC — works with or without a cable, at least with smartphones.
- Wide support for third-party wallets and dapps, allowing the Ledger Stax 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.
Trezor Model T 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 Stax | 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 |
Crypto wallet security feature differentiators
Ledger Stax security 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.
Ledger Stax security 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.
- Clear Signing is also a security feature.
Trezor Model T security 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.
Trezor Model T security 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 and Trezor products, however given Stax is very new we will cover it's manufacturer's hacks history.
Far from delivering uncompromised security, these wallets are routinely subject to malware, supply chain, and firmware vulnerabilities. Here are some recent notable incidents:
Ledger Vulnerabilities:
- 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 thousands of 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 Wallets.
Trezor Model T Vulnerabilities:
- 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.
Summary of Ledger Stax and Trezor Model T Comparison
The Ledger Stax and Trezor Model T both provide a respectable set of security measures, and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios.
The Ledger Stax is very mobile-friendly, and offers a balance of security and convenience features at a very premium price. It offers a big, but unconventional display and with delayed input, but with the advantages of a Secure Element and wireless connectivity options like Bluetooth.
On the other hand, the Trezor Model T, at a much lower 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 offer sounds non-attractive.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Whichever you choose, remember to add crypto inheritance to your choice of wallet to ensure the long-term safety of your digital assets.
Vault12 Guard: a decentralized solution for Crypto Inheritance
Vault12 is the pioneer in Crypto Inheritance Management, and delivers an easy-to-use and securemethod for assigning a legacy contact to your crypto wallets. This enables you to pass on your wallet seed phrases and private keys for all types of digital assets to future generations. Vault12 Guard is designed for everyday people, yet strong enough for Crypto OGs.
Vault12 Guard has a uniquely-secure design. Utilizing advanced encryption and decentralized storage, it ensures that crypto assets are not only safe but also transferable under predefined conditions, filling a critical need unmet by most traditional hardware wallets. Vault12 Guard applies a hybrid approach of software fused with the hardware-based Secure Element of phone devices (The Secure Enclave for iOS devices, and Strongbox for Google devices). Vault12 Guard's decentralized design reduces possible points of failure. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them less of a target.
From a user perspective, the Vault12 Guard app asks users to appoint one or more people (or mobile devices) as Guardians. The designated Guardians are entrusted to protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Its simple, user-friendly workflow removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers — a process that otherwise could lead to privacy breaches.
Both the Ledger Stax and Trezor Model T are compatible with Vault12 Guard Inheritance. This addresses the seed phrase backup dilemma for any hardware wallet. It also makes less-secure backup methods, such as paper or steel plates, unnecessary.
Get Started Now.
Pay-by-Crypto Subscriptions (50% off) and Vault12 Guard Operational Enhancements
The latest release of Vault12 Guard has some powerful new capabilities under the covers as well as refinements that streamline its user experience for you.
We've revamped the subscription payments system so that whether you choose to use Apple iOS App Store subscriptions, Google Play Store subscriptions, or subscribe directly through Vault12 using ETH or VGT, you have multiple options of simple and straightforward ways to subscribe.
Here's the rest of the news:
New Enhancements in Vault12 Guard Version 2.3
- Pay-by-Crypto Subscriptions via VGT and ETH
- Seamless Subscription Journey
- Comprehensive Data Control
- Faster Vault Status Updates
- Android 14 Ready
- Enhanced Reporting Privacy
- More-Polished Experience
Pay-by-Crypto Subscription via ETH or VGT (includes 50% discount)
In previous releases, we switched to using native subscription options provided by the Google and Apple App Stores, and now with this release we have released a streamlined capability to enable subscriptions using Ethereum (ETH) or the Vault Guardian Token (VGT).
To access the subscription options, visit the website and click on "My Subscriptions," or just go to pay.vault12.com.
Key highlights include a simple process, and no extra ETH payments required beyond the wallet fees associated with transferring crypto to your subscription deposit address.
For a full step-by-step walkthrough, visit our help article: How to subscribe to Vault12 Guard with $ETH and $VGT (and get a 50% Discount)
My Subscription
Vault12 Guard Subscription Plans
Seamless Subscription Journey
We have simplified the available Subscription plans to match how everyday people like to use the app:
Basic - For checking out the app, and for Guardians (free forever).
Backup - For people using the app to ensure they have a decentralized backup of all their crypto wallets. This includes the ability to assign Guardians and to ensure that your Vault can be recreated in the event of loss of your device.
Inheritance - For everyone who wants to ensure that their crypto assets can be passed on to their family or designated heirs.
Comprehensive Data Control
We have added options to ensure that you can erase your data inside the app, as well as on any data stored by Guardian devices.
Faster Vault Status Update
Generally speaking, updates within the app and Guardian devices are asynchronous, so now you are able to immediately refresh your Vault status by simply pulling down in the app.
Android 14 Ready
This release supports Android 14, including newly-announced features.
Enhanced Reporting Privacy
Opt-in to anonymously issue reports that can help us to enhance the app.
A More-Polished Experience
Revamped dialogs, improved localizations, and minor fixes make the app more graceful to use.
Ledger Stax and Ledger Nano X Wallets: Which is right for you?
When choosing hardware wallets, many crypto users base their decisions on day-to-day asset management needs and perceived device security. However, savvy crypto users first consider a wallet's ability to handle long-term security scenarios. Long-term security includes expected essentials like backup and recovery tools, and also often-overlooked features related to secure and fault-proof third-party recovery. You can think of third-party recovery as your ability to allow crypto assets to be inherited by successors. Successful crypto users require a comprehensive security strategy for the full life cycle of crypto assets. This article will help you achieve that.
Let's jump into helping you understand the pros and cons of the Ledger Stax and Ledger Nano X hardware wallets for day-to-day activities, as well as their potential to safeguard the long-term security and longevity of your assets.
Overview
The Ledger Stax and Ledger Nano X both provide a wide variety of reliable security features and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios. However, several differences are clear:
Ledger Stax
- Mobile-Centric Usability: Designed with mobility in mind, the Ledger Stax features wireless connectivity options like Bluetooth and NFC, making it highly compatible with mobile platforms. Stax also has a longer battery life (up to 10 hours versus Nano X's 5).
- Premium Design: Its unconventionally large display enhances readability, though it comes with slightly slower responsiveness.
- Price Point: Positioned as a premium product, its cost reflects its advanced features and sleek design.
Ledger Nano X
- Mobile-Centric Usability: Offers Bluetooth connectivity — works with or without a cable, at least with smartphones.
- Design: A bit more compact than Stax. User input is via buttons, not touchscreen.
- Price Point: Not so overpriced.
In terms of crypto asset longevity features, such as backup, recovery, and crypto inheritance, both devices provide industry-standard and proprietary options with certain trade-offs, as well as compatibility with third-party solutions like Vault12 Guard for succession planning scenarios.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Approach to comparison
When choosing the best hardware wallet for cryptocurrency security, you may wonder:
- Which is better, the Ledger Stax or the Ledger Nano X?
- How easy to use are these wallets?
- How do their security features compare?
- Do these wallets have vulnerabilities, and have they been hacked?
- What happens if your wallet is lost or stolen?
- How do these wallets accomodate user errors, and complex scenarios like inheritance of crypto assets?
This article compares important characteristics for these two popular wallets. We’ll break down the strengths and weaknesses of each, focusing on security, ease of use, and backup and recovery methods.
By the end of this comparison, you’ll clearly understand which wallet is right for you, as well as how to recover your crypto assets in case of accidents.
What happens if your wallet is lost or stolen?
Wise wallet owners recognize the critical importance of crypto recovery before they find themselves in an unexpected bind! That's why it's important to understand the fundamental topic of crypto asset longevity, including features such as backup, recovery, and inheritance for crypto assets. These considerations are central to long-term planning.
Technical security is paramount, but in the world of crypto, the degree to which backup and recovery solutions are foolproof for users is at least equally important. Here are the backup and recovery options for these two wallets:
How do these wallets handle Crypto Inheritance?
Crypto Inheritance Features
Currently, most hardware wallets, including the Ledger Stax and Ledger Nano X, lack any features for establishing and managing crypto inheritance. This gap presents a challenge for users who want to be sure that their crypto assets can be transferred to their heirs.
Backup and recovery differentiators
Ledger Stax and Ledger Nano X both have similar recovery service Disadvantages:
- The optional Ledger Recover backup service is a paid service provided by three corporations that each hold parts of the user’s seed phrase in a Cloud. This introduces risks, as the seed phrase could potentially be accessed via subpoena; or business partners could terminate agreements or become involved in lawsuits that result in locked data or resources (like, for example, Gemini and Genesis). These scenarios contain multiple potential points of failure, and should be taken into account.
- Very important detail: The terms of the optional Ledger Recover service do not mention support for inheritance, meaning any unfortunate accident related to the user will make crypto assets unrecoverable for his or her successors. Ledger itself suggests using 3rd-party crypto inheritance services for those purposes.
Ledger Stax and Ledger Nano X both have similar recovery service 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 entire cloud backup solution).
User holding a mobile phone and using Ledger Stax as FIDO U2F security keyHow 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:
Crypto wallet user experience differences
Ledger Nano X with Smartphone UXLedger Stax UX Disadvantages:
- The display has a noticeable response delay due to the "E Ink" touchscreen technology, and could be irritating.
- Not all apps are ported to Stax yet. Even the native Passwords app still has no release date identified as of this article's publish date, so check in advance whether your favorite network/coin is supported.
- Extremely expensive. The value in Stax is more about design, rather than practical aspects.
Ledger Stax UX Advantages:
- Huge informative display and "Clear Signing" allows you to review and confirm all transaction details directly on Ledger Stax and in a human-readable language before they are signed and sent. This enhances security and ensures that you see exactly what you are approving in a secure and tamper-proof manner.
- Offers Bluetooth connectivity as well as NFC — works with or without a cable, at least with smartphones.
- Wide support for third-party wallets and dapps, allowing the Ledger Stax to sign transactions directly in MetaMask, Uniswap, and other platforms without relying on Ledger Live software. This is a huge advantage for DeFi users.
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.
- No NFC.
Ledger Nano X Advantages:
- A bit more compact than Stax while also offering 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.
- Not so overpriced.
How do these wallets' security features compare?
Now, we dive deeper into the core specification of every hardware wallet: security features.
| Ledger Stax | Ledger Nano X | |
| PIN-code | 4 - 8 digits | 4 - 8 digits |
| BIP39 Passphrase | Yes | Yes |
| Open-source | Partial | Partial |
| Secure Element | Yes | Yes |
| Multisignature | Yes | Yes |
Crypto wallet security feature differentiators
Ledger Stax and Ledger Nano X both have similar security feature Disadvantages:
- Critical components like the Secure Element and its operating system are closed-source. This raises concerns, especially after the controversial introduction of the Ledger Recover backup service, which challenged the previous assumption that the Secure Element could never transmit the recovery seed phrase outside the hardware wallet.
Ledger Stax and Ledger Nano X both have similar security feature 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.
- Clear Signing is also a security feature.
Have there been vulnerabilities or hacks of these wallets?
There have been some vulnerabilities and hacks associated with Ledger products in the past — let's consider their "hack history." While relatively secure, most crypto wallets — even hardware wallets — can not provide perfect security, and are routinely subject to malware, supply chain, and firmware vulnerabilities. Here are some recent notable incidents:Ledger Vulnerabilities:
- 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 thousands of 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 Wallets.
No software is perfect, and no wallet is ideal. However, some designs have been compromised more than others.
Summary of Ledger Stax and Ledger Nano X Comparison
The Ledger Stax and Ledger Nano X both provide a respectable set of security measures, and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios.
The Ledger Stax is more mobile-friendly, and offers a balance of security and convenience features at a very premium price. It offers an unconventionally large display with delayed response, with the advantage of wireless connectivity options like Bluetooth.
On the other hand, the Ledger Nano X, at a lower price point, is still mobile-friendly and offers a balance of security and convenience features. It offers a small display and uncomfortable input, but still has the advantages of a Secure Element and wireless connectivity options like Bluetooth.
The decision between the two will likely hinge on individual preferences for the target user interface with screen, and should take into account the planned frequency of use.
Whichever you choose, remember to add crypto inheritance to your choice of wallet to ensure the long-term safety of your digital assets. Both the Ledger Stax and Ledger Nano X are compatible with Vault12 Guard Inheritance planning.Vault12 Guard: a decentralized solution for Crypto Inheritance
Vault12 is the pioneer in Crypto Inheritance Management, and delivers an easy-to-use and securemethod for assigning a legacy contact to your crypto wallets. This enables you to pass on your wallet seed phrases and private keys for all types of digital assets to future generations. Vault12 Guard is designed for everyday people, yet strong enough for Crypto OGs.
Vault12 Guard has a uniquely-secure design. Utilizing advanced encryption and decentralized storage, it ensures that crypto assets are not only safe but also transferable under predefined conditions, filling a critical need unmet by most traditional hardware wallets. Vault12 Guard applies a hybrid approach of software fused with the hardware-based Secure Element of phone devices (The Secure Enclave for iOS devices, and Strongbox for Google devices). Vault12 Guard's decentralized design reduces possible points of failure. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them less of a target.
From a user perspective, the Vault12 Guard app asks users to appoint one or more people (or mobile devices) as Guardians. The designated Guardians are entrusted to protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Its simple, user-friendly workflow removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers — a process that otherwise could lead to privacy breaches.
Both the Ledger Stax and Ledger Nano X are compatible with Vault12 Guard Inheritance. This addresses the seed phrase backup dilemma for any hardware wallet. It also makes less-secure backup methods, such as paper or steel plates, unnecessary.
Ledger Stax and Trezor Model T: two strong wallets compared
When choosing hardware wallets, many crypto users base their decisions on day-to-day asset management needs and perceived device security. However, savvy crypto users first consider a wallet's ability to handle long-term security scenarios. Long-term security includes expected essentials like backup and recovery tools, and also often-overlooked features related to secure and fault-proof third-party recovery. You can think of third-party recovery as your ability to allow crypto assets to be inherited by successors. Successful crypto users require a comprehensive security strategy for the full life cycle of crypto assets. This article will help you achieve that.
Let's jump into helping you understand the pros and cons of the Ledger Stax and Trezor Model T for day-to-day activities, as well as their potential to safeguard the long-term security and longevity of your assets.
Overview
The Ledger Stax and Trezor Model T both provide a wide variety of reliable security features and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios. However, several differences are clear:
Ledger Stax
- Mobile-Centric Usability: Designed with mobility in mind, the
- Ledger Stax features wireless connectivity options like Bluetooth and
- NFC, making it highly compatible with mobile platforms.
- Premium Design: Its unconventionally large display enhances readability, though it comes with slower responsiveness included.
- Price Point: Positioned as a premium product, its cost reflects its advanced features and sleek design
- Mobile-Centric Usability: No Bluetooth connectivity. iOS app is view-only.
- General Usability: Smaller set of wallets, coins, and apps.
- Design: The touchscreen and input are very well-thought-out experiences.
- Price Point: More affordable.
In terms of crypto asset longevity features, such as backup, recovery, and crypto inheritance, both devices provide industry-standard and proprietary options with certain trade-offs, as well as compatibility with third-party solutions like Vault12 Guard for succession planning scenarios.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Approach to comparison
When choosing the best hardware wallet for cryptocurrency security, you may wonder:
- Which is better, the Ledger Stax or the Trezor Model T?
- How easy to use are these wallets?
- How do their security features compare?
- Do these wallets have vulnerabilities, and have they been hacked?
- What happens if your wallet is lost or stolen?
- How do these wallets accomodate user errors, and complex scenarios like inheritance of crypto assets?
This article compares important characteristics for these two popular wallets. We’ll break down the strengths and weaknesses of each, focusing on security, ease of use, and backup and recovery methods.
By the end of this comparison, you’ll clearly understand which wallet is right for you, as well as how to recover your crypto assets in case of accidents.
What happens if your wallet is lost or stolen?
Wise wallet owners recognize the critical importance of crypto recovery before they find themselves in an unexpected bind! That's why it's important to understand the fundamental topic of crypto asset longevity, including features such as backup, recovery, and inheritance for crypto assets. These considerations are central to long-term planning.
Technical security is paramount, but in the world of crypto, the degree to which backup and recovery solutions are foolproof for users is at least equally important. Here are the backup and recovery options for these two wallets:
How do these wallets handle Crypto Inheritance?
Crypto Inheritance Features
Currently, most hardware wallets, including the Ledger Stax and Trezor Model T, lack any features for establishing and managing crypto inheritance. This gap presents a challenge for users who want to be sure that their crypto assets can be transferred to their heirs.
Backup and recovery differentiators
Ledger Stax Recovery service Disadvantages:
- The optional Ledger Recover backup service is a paid service provided by three corporations that each 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); and there are multiple potential points of failure.
- Very important detail: The terms of the optional Ledger Recover service do not mention support for inheritance, meaning any unfortunate accident related to the user will make crypto assets unrecoverable for his or her successors. Ledger itself suggests using 3rd-party crypto inheritance services for those purposes.
Ledger Stax Recovery service 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 backup solution).
Trezor Model T backup Disadvantages:
- Trezor 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.
Trezor Model T backup Advantages:
- Trezor does offer a Multishare backup option for those who are able and willing to set it up.
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:
Crypto wallet user experience differences
User holding a mobile phone and using Ledger Stax as FIDO U2F security key
Ledger Stax Disadvantages:
- The display has a noticeable response delay due to the "E Ink" touchscreen technology, and could be irritating.
- Not all apps are ported to Stax yet. Even the native Passwords app still has no release date identified as of this article's publish date, so check in advance whether your favorite network/coin is supported.
- Extremely expensive. The value in Stax is more about design, rather than practical aspects.
Ledger Stax Advantages:
- Huge informative display and "Clear Signing" allows you to review and confirm all transaction details directly on Ledger Stax and in a human-readable language before they are signed and sent. This enhances security and ensures that you see exactly what you are approving in a secure and tamper-proof manner.
- Offers Bluetooth connectivity as well as NFC — works with or without a cable, at least with smartphones.
- Wide support for third-party wallets and dapps, allowing the Ledger Stax 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.
Trezor Model T 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 Stax | 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 |
Crypto wallet security feature differentiators
Ledger Stax security 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.
Ledger Stax security 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.
- Clear Signing is also a security feature.
Trezor Model T security 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.
Trezor Model T security 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 and Trezor products, however given Stax is very new we will cover it's manufacturer's hacks history.
Far from delivering uncompromised security, these wallets are routinely subject to malware, supply chain, and firmware vulnerabilities. Here are some recent notable incidents:
Ledger Vulnerabilities:
- 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 thousands of 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 Wallets.
Trezor Model T Vulnerabilities:
- 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.
Summary of Ledger Stax and Trezor Model T Comparison
The Ledger Stax and Trezor Model T both provide a respectable set of security measures, and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios.
The Ledger Stax is very mobile-friendly, and offers a balance of security and convenience features at a very premium price. It offers a big, but unconventional display and with delayed input, but with the advantages of a Secure Element and wireless connectivity options like Bluetooth.
On the other hand, the Trezor Model T, at a much lower 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 offer sounds non-attractive.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Whichever you choose, remember to add crypto inheritance to your choice of wallet to ensure the long-term safety of your digital assets.
Vault12 Guard: a decentralized solution for Crypto Inheritance
Vault12 is the pioneer in Crypto Inheritance Management, and delivers an easy-to-use and securemethod for assigning a legacy contact to your crypto wallets. This enables you to pass on your wallet seed phrases and private keys for all types of digital assets to future generations. Vault12 Guard is designed for everyday people, yet strong enough for Crypto OGs.
Vault12 Guard has a uniquely-secure design. Utilizing advanced encryption and decentralized storage, it ensures that crypto assets are not only safe but also transferable under predefined conditions, filling a critical need unmet by most traditional hardware wallets. Vault12 Guard applies a hybrid approach of software fused with the hardware-based Secure Element of phone devices (The Secure Enclave for iOS devices, and Strongbox for Google devices). Vault12 Guard's decentralized design reduces possible points of failure. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them less of a target.
From a user perspective, the Vault12 Guard app asks users to appoint one or more people (or mobile devices) as Guardians. The designated Guardians are entrusted to protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Its simple, user-friendly workflow removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers — a process that otherwise could lead to privacy breaches.
Both the Ledger Stax and Trezor Model T are compatible with Vault12 Guard Inheritance. This addresses the seed phrase backup dilemma for any hardware wallet. It also makes less-secure backup methods, such as paper or steel plates, unnecessary.
How to choose between the Ledger Stax and Trezor Safe 5 Wallets
When choosing hardware wallets, many crypto users base their decisions on day-to-day asset management needs and perceived device security. However, savvy crypto users first consider a wallet's ability to handle long-term security scenarios. Long-term security includes expected essentials like backup and recovery tools, and also often-overlooked features related to secure and fault-proof third-party recovery. You can think of third-party recovery as your ability to allow crypto assets to be inherited by successors. Successful crypto users require a comprehensive security strategy for the full life cycle of crypto assets. This article will help you achieve that.
Let's jump into helping you understand the pros and cons of the Ledger Stax and Trezor Safe 5 hardware wallets for day-to-day activities, as well as their potential to safeguard the long-term security and longevity of your assets.
Overview
The Ledger Stax and Trezor Safe 5 both provide a wide variety of reliable security features and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios. However, several differences are clear:
Ledger Stax
- Mobile-Centric Usability: Designed with mobility in mind, the Ledger Stax features wireless connectivity options like Bluetooth, making it highly compatible with mobile platforms.
- Premium Design: Its unconventionally large display enhances readability, though it comes with slightly slower responsiveness.
- Price Point: Positioned as a premium product, its cost reflects its advanced features and sleek design.
Trezor Safe 5
- Open-Source Transparency: Built on an NDA-free framework (full disclosure), Trezor Safe 5 emphasizes trust through transparency, appealing to users who value open-source security.
- Simplified Connectivity: Limited to USB connections, it offers reliable functionality for desktop and Android users only.
- Affordable Access: At a much lower price point, it delivers solid security and usability without the premium cost.
In terms of crypto asset longevity features, such as backup, recovery, and crypto inheritance, both devices provide industry-standard and proprietary options with certain trade-offs, as well as compatibility with third-party solutions like Vault12 Guard for succession planning scenarios.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Approach to comparison
When choosing the best hardware wallet for cryptocurrency security, you may wonder:
- Which is better, the Ledger Stax or the Trezor Safe 5?
- How easy to use are these wallets?
- How do their security features compare?
- Do these wallets have vulnerabilities, and have they been hacked?
- What happens if your wallet is lost or stolen?
- How do these wallets accomodate user errors, and complex scenarios like inheritance of crypto assets?
This article compares important characteristics for these two popular wallets. We’ll break down the strengths and weaknesses of each, focusing on security, ease of use, and backup and recovery methods.
By the end of this comparison, you’ll clearly understand which wallet is right for you, as well as how to recover your crypto assets in case of accidents.
What happens if your wallet is lost or stolen?
Wise wallet owners recognize the critical importance of crypto recovery before they find themselves in an unexpected bind! That's why it's important to understand the fundamental topic of crypto asset longevity, including features such as backup, recovery, and inheritance for crypto assets. These considerations are central to long-term planning.
Technical security is paramount, but in the world of crypto, the degree to which backup and recovery solutions are foolproof for users is at least equally important. Here are the backup and recovery options for these two wallets:
How do these wallets handle Crypto Inheritance?
Crypto Inheritance Features
Currently, most hardware wallets, including the Ledger Stax and Trezor Safe 5, lack any features for establishing and managing crypto inheritance. This gap presents a challenge for users who want to be sure that their crypto assets can be transferred to their heirs.
Backup and recovery differentiators
Ledger Stax Recovery Disadvantages:
- The optional Ledger Recover backup service is a paid service provided by three corporations that each hold parts of the user’s seed phrase in a Cloud. This introduces risks, as the seed phrase could potentially be accessed via subpoena; or business partners could terminate agreements or become involved in lawsuits that result in locked data or resources (like, for example, Gemini and Genesis). These scenarios contain multiple potential points of failure, and should be taken into account.
- Very important detail: The terms of the optional Ledger Recover service do not mention support for inheritance, meaning any unfortunate accident related to the user will make crypto assets unrecoverable for his or her successors. Ledger itself suggests using 3rd-party crypto inheritance services for those purposes.
Ledger Stax Recovery 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 entire Cloud backup solution).
Trezor Safe 5 Recovery Disadvantages:
- Trezor 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.
Trezor Safe 5 Recovery Advantages:
- Trezor offers the Multishare backup option for those who are able and willing to set it up.
How easy are these crypto wallets to use?
User holding a mobile phone and using Ledger Stax as FIDO U2F security key
Let's compare the key aspects of both wallets side by side, and then summarize what really stands out for user convenience:
Trezor Safe 5 wallet and desktop software
Crypto wallet user experience differences
Ledger Stax UX Disadvantages:
- The display has a noticeable response delay due to the "E Ink" touchscreen technology, and could be irritating.
- Not all apps are ported to Stax yet. Even the native Passwords app still has no release date identified as of this article's publish date, so check in advance whether your favorite network/coin is supported.
- Extremely expensive. The value in Stax is more about design, rather than practical aspects.
Ledger Stax UX Advantages:
- Huge informative display and "Clear Signing" allows you to review and confirm all transaction details directly on Ledger Stax and in a human-readable language before they are signed and sent. This enhances security and ensures that you see exactly what you are approving in a secure and tamper-proof manner.
- Offers Bluetooth connectivity — works with or without a cable, at least with smartphones.
- Wide support for third-party wallets and dapps, allowing the Ledger Stax 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 Safe 5 UX Disadvantages:
- No wireless connectivity: you always have to use a cable.
- iOS integration is view-only: you can watch your balance, but can't send transactions from iOS apps.
Trezor Safe 5 UX Advantages:
- The display is easy to read and convenient to use on a regular basis.
- The touchscreen and input are very well-thought-out experiences on Trezor Safe 5 — you can use them 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 Stax | Trezor Safe 5 | |
| PIN-code | 4 - 8 digits | up to 50 digits |
| BIP39 Passphrase | Yes | Yes |
| Open-source | Partial | Full |
| Secure Element | Yes | Yes, and it's NDA-free |
| Multisignature | Yes | Yes |
Crypto wallet security feature differentiators
Trezor Safe 5 with a void sticker on it - security seal of genuineness
Ledger Stax Security Disadvantages:
- Critical components like the Secure Element and its operating system are closed-source. This raises concerns, especially after the controversial introduction of the Ledger Recover backup service, which challenged the previous assumption that the Secure Element could never transmit the recovery seed phrase outside the hardware wallet.
Ledger Stax Security 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, instead prioritizing ease of use.
- Clear Signing is also a security feature.
Trezor Safe 5 Security Disadvantages:
- Trezor does not fully rely on open-source software and hardware, but mitigates this limitation architecturally, so that the seed phrase is not touched by any closed-source software on the device.
Trezor Safe 5 Security Advantages:
- Along with this new flagship product, Trezor introduces Secure Element chips, raising the security bar. More importantly, its Secure Elements are "NDA-free," which is good: the chips are not bound by Non-Disclosure Agreements (NDAs) that could restrict Trezor from publicly discussing any security flaws.
- The Secure Element is responsible for verifying device authenticity via secure boot protection, and for storing a part of the secret that is used to decrypt the recovery seed (but it never actually knows what your recovery seed is).
- Allows for longer PIN codes, which might appeal to particularly cautious users.
Have there been vulnerabilities or hacks of these wallets?
Given that both of these products under review are very new, we will examine their manufacturers' histories of hacks. There have been vulnerabilities and hacks associated with both the Ledger and Trezor products.
While relatively secure, most crypto wallets — even hardware wallets — can not provide perfect security, and are routinely subject to malware, supply chain, and firmware vulnerabilities. Here are some recent notable incidents:
Ledger Vulnerabilities:
- 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 thousands of 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 Wallets.
Trezor Vulnerabilities:
- 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.
Summary of Ledger Stax and Trezor Safe 5 Comparison
The Ledger Stax and Trezor Safe 5 both provide a respectable set of security measures, and support a broad spectrum of cryptocurrencies, making them suitable for diverse crypto portfolios.
The Ledger Stax is more mobile-friendly, and offers a balance of security and convenience features at a very premium price. It offers an unconventionally-large display with delayed response, with the advantage of wireless connectivity options like Bluetooth.
On the other hand, the Trezor Safe 5, at a much lower price, boasts a more open-source and NDA-free framework, a reasonably-sized display with colors, and a touchscreen interface for enhanced user interaction. However, it has fewer convenience features: it works only with USB connections, and is missing iOS integration.
The decision between the two will likely hinge on individual preferences for the target platform (mobile or desktop), and should take into account the planned frequency of use.
Whichever you choose, remember to add crypto inheritance to your choice of wallet to ensure the long-term safety of your digital assets. Both the Ledger Stax and Trezor Safe 5 are compatible with Vault12 Guard Inheritance planning.
Vault12 Guard: a decentralized solution for Crypto Inheritance
Vault12 is the pioneer in Crypto Inheritance Management, and delivers an easy-to-use and securemethod for assigning a legacy contact to your crypto wallets. This enables you to pass on your wallet seed phrases and private keys for all types of digital assets to future generations. Vault12 Guard is designed for everyday people, yet strong enough for Crypto OGs.
Vault12 Guard has a uniquely-secure design. Utilizing advanced encryption and decentralized storage, it ensures that crypto assets are not only safe but also transferable under predefined conditions, filling a critical need unmet by most traditional hardware wallets. Vault12 Guard applies a hybrid approach of software fused with the hardware-based Secure Element of phone devices (The Secure Enclave for iOS devices, and Strongbox for Google devices). Vault12 Guard's decentralized design minimizes possible points of failure. Nothing is stored on Cloud servers or Vault12 servers, and no assets are stored on local devices, making them less of a target.
From a user perspective, the Vault12 Guard app asks users to appoint one or more people (or mobile devices) as Guardians. The designated Guardians are entrusted to protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Its simple, user-friendly workflow removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers — a process that otherwise could lead to privacy breaches.
Both the Ledger Stax and Trezor Safe 5 are compatible with Vault12 Guard Inheritance. This addresses the seed phrase backup dilemma for any hardware wallet. It also makes less-secure backup methods, such as paper or steel plates, unnecessary.
$6 Trillion of Crypto Assets to Be Inherited by 2045
Over the next two decades, up to $6 trillion in crypto could be inherited, as younger investors favor digital assets over traditional stocks and bonds. Learn how this shift is reshaping wealth transfer and the future of investing
Unprecedented Asset Transfer via Inheritance by 2045
A recent report, the 2024 Bank of America Private Bank Study on Wealthy Americans, reveals key trends related to inheritance, and particularly how younger generations view the future of wealth, including crypto and estate planning.
An astounding $84 trillion of wealth transfer is projected over the next 20 years from current generations to Gen X, Millenials and Gen Z. Renowned expert Matthew Sigil, head of digital assets research at Van Eck (a prominent issuer of Bitcoin ETFs) has estimated that of this amount, $6T in crypto assets will be passed on via inheritance.
This transfer will be successful only if care and attention are paid to crypto inheritance planning and management, and if the right approaches are in place to support the technical transfer of these funds. Crypto assets are technically different in a number of ways to traditional assets, so inheritance needs to be carefully choreographed between asset owners, Trust and Estate Lawyers, and intended crypto beneficiaries.
Despite the fact that important steps must be taken for the safe, secure, and private transfer of crypto assets, none of the participants in the crypto ecosystem have offered inheritance plans or services. The pioneer of crypto inheritance management since 2015 has been Vault12.
Vault12 has built and continues to innovate a comprehensive solution that is easy to use for non-technical participants, yet incorporates a highly secure architecture and technology that is designed to preserve your crypto wealth and ensure successful transfer to your heirs. Learn more at vault12.com.
The Bank of America Private Bank Study
This report by Bank of America Private Bank analyzes financial outlooks, investing habits, and estate planning practices of wealthy Americans. The study reveals a generational divide, with younger wealthy individuals exhibiting different investment preferences than older generations. Younger individuals tend to be more skeptical of traditional investment strategies, and favor alternatives like cryptocurrencies and private equity. The study highlights the challenges facing wealthy families as they navigate wealth transfer, including the emotional strain of inheritance and the increasing burden of serving as trustee or executor.
Takeaways
- Great Wealth Transfer: Approximately $84 trillion is projected to transfer from seniors and baby boomers to Gen X, millennials, and their heirs by 2045.
- Crypto Inheritance Surge:Matthew Sigel of VanEck Investments estimates that up to $6 trillion could enter the crypto market through inheritance in the next 20 years.
- Investment Shifts: Millennials and Gen Xers will inherit $84 trillion, with a growing proportion of cryptocurrencies.
- Young Investor Participation: To reach the $6 trillion estimate, young investors (ages 21-43) need to allocate 14% of their inherited wealth to crypto: about $300 billion annually.
- Broader Investment Preferences: Many young investors view traditional stocks and bonds as insufficient for superior returns, preferring high-growth assets like cryptocurrencies.
- Risk Appetite by Generation: Younger investors show a higher risk tolerance, with significant crypto allocations (14%-17%) compared to older investors, who remain conservative.
- Crypto Exposure: Younger investors hold the highest average exposure to crypto, highlighting a shift in how the next generation approaches digital assets.
Sources:
2024 Bank of America Private Bank Study of Wealthy Americans
VanEck: $6 Trillion Could Pour Into Bitcoin, XRP and Crypto via Inheritances Over 20 Years
Crypto and Digital Asset Allocations
Bank of America 2024 Private Bank Study on Wealthy Americans
Crypto, Inheritance, and Wealth Management in Younger Generations
The 2024 Bank of America Private Bank Study on Wealthy Americans focuses on several key trends related to inheritance, particularly how younger generations view the future of wealth, including crypto and estate planning.
1. Crypto and Digital Assets
Younger generations (ages 21-42) are more inclined to see digital assets like cryptocurrency as a key growth opportunity. Around 28% of younger respondents ranked crypto as a promising investment vehicle, significantly higher than older generations, where only 4% expressed the same confidence. This highlights the generational shift towards embracing newer financial instruments like blockchain and decentralized finance.
2. Inheritance and Estate Planning
Interpersonal family dynamics can create tension during wealth transfers. For both younger and older wealthy individuals, unequal distribution of assets and a lack of clear instructions or communication were common sources of strain. Younger generations are more focused on including hard assets like jewelry and heirlooms — which are frequently overlooked in formal planning — in their estate plans.
3. Generational Differences in Wealth Management
Younger heirs are more likely to pursue alternative investment strategies, such as private equity and digital tools, reflecting their broader interest in controlling their wealth. These individuals also prioritize sustainability and impact investing as part of their inheritance planning, distinguishing their approach from older generations.
These insights demonstrate the ongoing generational divide in attitudes toward wealth management and the evolving role of digital assets in estate planning.
Inheritance and Estate Planning "Strain Points"
Factors driving strain on inheritance-related issues
Bank of America 2024 Private Bank Study
What you need to know about Crypto Inheritance Planning
Unlike traditional assets, crypto assets need to be managed differently from an inheritance standpoint. In fact, the only similarity between traditional and digital assets is that you must maintain an update inventory of them. The main challenges associated with crypto inheritance are:
- Inventory of crypto assets: You must carefully maintain an inventory of crypto assets. This means backing up seed phrases and/or private keys of all crypto wallets, across all blockchains, and all types of devices or places where those wallets exist, e.g., mobile phones, hardware wallets, cloud, and paper backups. Any assets that are not documented in your backup are liable to be lost.
- Privacy of all information:You must ensure absolute privacy of the backup information. Anyone with access to private keys or seed phrases will be able to compromise the funds. This includes ensuring that any documentation left with your lawyers is strongly protected.
- Critical Points of Failure: You must eliminate personal devices and cloud services as critical points of failure. The most significant risk in inheritance is reliance on individual devices, which can be stolen, lost, or damaged. The second risk is the dependency on one or more cloud servers. We have seen what happens when business relationships between cloud partners face legal challenges, or cloud services are disrupted by malware or bad software updates.
- Technical Beneficiary awareness: As the varieties of crypto assets expand over time, staying aware of them becomes important. You will need to designate someone technically fluent in this area. They may not be the ultimate beneficiary; however, you will need to trust them to distribute the assets per your wishes.
- Trust & Estate Attorney: You must consult with experienced lawyers who are well versed in inheritance of crypto assets. A great resource is "A Practical Guide to Estate Administration and Crypto Assets" by Richard Marshall from Hill Dickinson LLP.
Why Choose Vault12 Guard for Crypto Inheritance Management?
Vault12 is the pioneer of crypto inheritance management, and Vault12 Guard is the first solution to offer a simple, direct, and secure way for all types of investors to ensure that all of their crypto assets can be accessed by future generations.
Consider that:
- 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.
- A simple and direct approach like Vault12 Guard 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.
- Inventory of crypto assets: The first step in inheritance is backing up all your crypto wallets. Vault12 makes this as easy as possible - despite the appalling lack of usability in current hardware and software wallets. There will always be new crypto assets on new blockchains, and Vault12 can manage any crypto asset on any device, on any blockchain, now and in the future.
- Privacy of all information:Your crypto assets are protected via a Secure Element (Secure Enclave in iOS, and Strongbox on Google Android phones), and the encryption used is Quantum-safe. With this security, no one knows what assets are part of your Vault.
- No Critical Points of Failure: No assets are stored locally, no assets are stored in any cloud, and no assets are stored at Vault12. There are no devices to lose, no paper backups, and no need to manually give encrypted assets to a subset of people. The Vault12 system is decentralized, making it a difficult target for hackers — and in fact for any type of failure.
- Confidence in a Technical Beneficiary: With Vault12 you get to designate a trusted technical beneficiary. Should you change your mind, you can swap them out at any time.
- Flexibility in Trust & Estate Attorney: While regulations and guidelines for inheritance planning can vary from state to state and country to country, Vault12 Guard is designed to be independent of whatever legal framework you choose to govern the inheritance of your assets. Vault12 Guard is simply a transfer mechanism that ensures all your crypto assets are passed from your control to a designated technical beneficiary.
Key Product Features of Vault12 Guard
The Vault12 platform provides your crypto assets with the highest security and strong backup resilience. Vault12 Guard Inheritance enables you to designate a beneficiary (an executor, trustee, or other chosen beneficiary) who can inherit the entire portfolio of digital assets that you choose to store in your Vault. There is no need to update an inventory continually or to issue updated instructions.
- Unified Digital Vault: Use Vault12 Guard Digital Vault to store digital assets, including cryptocurrency, financial login information, legal documents, medical records, and more.
- Guardian Network: The Vault is protected by your network of Guardians: friends, family, and/or business associates — people that you know and trust.
- Beneficiary Designation: Designate a beneficiary from your chosen Guardians. A declaration is then digitally signed, and can be emailed to other parties, such as lawyers.
- Trigger-Based Access: As a Vault Owner, you can configure a legally-defined trigger such as incapacitation or death. When the trigger occurs, the beneficiary indicates they are ready to access the digital assets. Assets are unlocked and transferred to the beneficiary only when a designated number of Guardians approve the request.
- Preemptive Veto Option: Should the beneficiary attempt to access the assets before they are intended to, the owner can veto the request before any of the Guardians receive an approval request.
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Vault12 Guard provides inheritance, and secure decentralized backup of seed phrases and/or private keys, giving Bitcoin (BTC), Ethereum (ETH).
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