Custom URLs: Wallet Comparison

Our impressions

Ledger Nano S Plus

GridPlus Lattice1

Pros

Great form factor, paired with robust casing protection made out of medal for high portability
Future-proof USB-C port
Uses the BIP-39 standard, which allows wallet recovery even without hardware
Can be used as a secure key, providing additional value outside crypto use-cases

Very high usability through the 5-inch touch-screen
Does not require USB connection
Uses the BIP-39 standard, which allows wallet recovery even without hardware
Open source software that can be audited by the community
Supports SSH access to control the Linux environment of the device (ideal for advanced users / tinkerers)

Cons

Requires constant USB connection to operate
Firmware is closed source
App concept (apps need to be installed on the device to support certain coins and features) can be overwhelming, especially for new users, but easy enough to start using the device in no time

Not very portable (yet… there are hints from the GridPlus team that they might work on a portable version that supports SmartCards)
Supports only one non-mainstream wallet app on smartphones
Requires it’s own power supply and Internet connection (supports Ethernet and WLAN)

Verdict

One of the most secure hardware wallets at a very attractive price point. The secure element chip prevents seed phrase extraction attacks, but comes at the price of closed source firmware. Users have to get familiar with the concept of individual apps that have to be manually installed by the user to make the device support the features (i.e. coins, security key functionality, etc.) they need. Installation is not much different than installing smartphone apps from the app store though, so not that difficult after all. As no company is perfect, please make sure to keep updated on Ledger controversies, before making a buying decision. Read more about Ledger controversies

All in all – a very good deal to keep your crypto assets safe with a very high level of security.

The GridPlus Lattice1 features a very unique SmartCard concept. The base station stays on your desktop and you just carry your wallet on a SmartCard that has the same dimensions like any other credit card. In our mind this seems like the perfect setup in professional workplace environments. The 5-inch touch screen will also appeal to private users, as it really makes interactions much more comfortable in comparison to other hardware wallet products.

Support of Ethereum and EVM based chains is very good, especially on Desktop PCs and Notebooks on Windows, MacOS, and Linux. Smartphone support is a bit lacking as there are not yet a lot of apps to choose from. Bitcoin support is limited to the Lattice Manager application, which does support sending and receiving BTC. Also portability might be an issue, if you do not own multiple devices. It seems like the GridPlus is already working on a product addressing this though.

In conclusion: In terms of security the device features many thought-through anti-tempering and security features. Integration into the Ethereum / EVM ecosystem is very mature and offers a very high level of usability. Depending on your use-case this might be the perfect form factor for you.

Disclaimer: Our impressions are based on a compilation of factors tailored to the average user’s perspective. It is also important to note that whether a feature is a “pro” or “con” can depend on your situation and preferences. What may be an advantage in one scenario could be a challenge in another, and vice versa. Therefore, while reviewing these points, it’s essential to consider your unique requirements and circumstances when making decisions. This list aims to provide an idea of what to anticipate, but it is not the ultimate guide to determining whether something will work for you or not.

Key features

Ledger Nano S Plus

GridPlus Lattice1

Release year

2022

2020

Supported coins

Supports multiple coins, Bitcoin-only mode available

BTC, ETH, ADA, XRP, LTC, XLM, DOGE, DASH, XMR
in total 5,000+ coins available

Supports multiple coins

Supports Bitcoin and Ethereum (including EVM based blockchains and ERC-20 tokens)

Open source

Companion software

Apps that are installed on Ledger Nano S Plus are open source

Seedphrase support

BIP-39 (Mnemonic phrase)
Passphrase

BIP-39 (Mnemonic phrase)
Passphrase
Multiple seedphrases on one device

Security protections

Secure element
On device PIN entry
Factory reset with wrong PIN
On device passphrase entry
On device recovery

Secure element
On device PIN entry
On device passphrase entry
On device recovery

One seedphrase per SafeCard

The security architecture of the Lattice1 combines two separate hardware environments within a single device and features many different protections (CLDS Tamper Detection Mesh, Internal Secure Enclave, Secure Computing Environment, Secure Mailbox, Integrated PCB Security Mesh, Compressed Elastomer Intrusion Detection, Logic Power Isolation, Read-Only Partition, Security Battery). Learn all about the security features: Official Documentation

Platform compatibility