Custom URLs: Wallet Comparison

Our impressions

Ledger Nano X

Keystone 3 Pro

Pros

Bluetooth connectivity and built-in battery
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

Supports 3 concurrent seed phrases
Convenient user experience with the huge touchscreen
Completely autonomous device with long lasting battery lifetime (should be at least 100+ hours in sleep mode when using the device a couple times per day, 18+ months when turned off)
Easy process for online Device Verification

Cons

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

The airgapped QR code paradigm requires a camera on the paired device for certain interactions
We love their dedication to open source “EVERY SINGLE LINE” of code they write, including their hardware designs. As long as they do not deliver on their promise, it sadly still is a closed source product.

Verdict

Currently definitely one of the best hardware wallets out there. Bluetooth connectivity allows for easy cable-free use. The built-in battery lasts a very long time – users typically don’t experience any low battery anxiety at all. 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 Keystone 3 Pro is a device that we can see in a “broad adoption of everyday Crypto financial transactions” scenario. It is a fully air-gapped, autonomous device that has great battery life with an easy to use interface on a convenient 4-inch touchscreen. We would add it to our everyday carry in an instant, in a world where QR code based Crypto payments are available at every shop and venue.

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 X

Keystone 3 Pro

Release year

2019

2023

Supported coins

Supports multiple coins, Bitcoin-only mode available

BTC, ETH, ADA, XRP, LTC, XLM, DOGE, DASH, XMR
in total 5,500+ coins and tokens available

Supports multiple coins

5000+ Coins Supported (Bitcoin & EVM chains)

Bitcoin-only Firmware is supposedly in the works, with an estimated release date some time before the next Bitcoin halving
Source: Comment on reddit.com

Open source

Companion software

Apps that are installed on to Ledger Nano X are open source

Planned

The Keystone team is working on also open sourcing “EVERY SINGLE LINE of code we’ve written”, including their hardware design, with an announced release date in November 2023. The announcement is worded in a way that it leaves some room of what we really can expect to be released and if they can meet their own release date.
Source: Official blog post concerning Open Source

As the focus of the Keystone 3 series is on 3rd party app compatibility the previous companion software will be faded out in the future.
Source: second hand user comment on reddit.com

Seedphrase support