Custom URLs: Wallet Comparison

Our impressions

Ledger Nano S Plus

Trezor Safe 3

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

Small form factor and very portable
Excellent value at an affordable price point
Phenomenally intuitive and efficient on-device recovery, PIN and seedphrase entry

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

Requires constant USB connection to operate

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.

Finally the first line of Trezor products incorporating a secure element has arrived. In our opinion it easily takes the lead in the current Trezor product lineup – in terms of security and portability. Even with the launch of the newer Trezor Safe 5 it’s easily our price/performance winner.

Even though the device uses only two buttons for input, like the Model One did, and does not offer a touch-screen, like the Model T and Safe 5, its on-device recovery, PIN and seedphrase entry are phenomenal. Trezor really did something truly special with the way they handle user input despite the minimalist form factor. At less than half the price of the Trezor Safe 5 it is an easy recommendation.

Read more about the new generation of Trezor Safe 3 products.

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.