In this comparison
Overview
Ledger and Trezor are the two most trusted names in hardware wallet security. Between them, they have been protecting AI for over a decade. Every serious investor eventually faces this choice: which one do I buy?
Ledger uses a secure element chip (CC EAL5+ certified) and closed-source firmware. They argue that a certified chip provides better physical security than any open-source software running on a general-purpose chip. Bluetooth on the Nano X allows mobile management. Ledger Live is a polished companion app with DeFi, staking, and NFT features built in.
Trezor is fully open source. Every line of firmware code is on GitHub. The community can and does audit it. Trezor Safe 5 adds a color touchscreen and Shamir backup, which splits your recovery seed into multiple shares. No Bluetooth means a smaller attack surface but no mobile management.
The philosophical divide is clear: certified security chip with closed source versus open-source transparency with community auditing. Both approaches work. Neither has suffered a major breach of customer funds.
Ledger vs Trezor: Side-by-Side
| Category | Ledger | Trezor |
|---|---|---|
| Founded | 2014 (France) | 2013 (Czech Republic) |
| Top Model | Nano X ($149) | Safe 5 ($169) |
| Budget Model | Nano S Plus ($79) | Safe 3 ($79) |
| Secure Element Chip | Yes (CC EAL5+) | Yes (Safe 3 and Safe 5) |
| Open Source | No (closed firmware) | Yes (fully open source) |
| Bluetooth | Yes (Nano X) | No |
| Supported Coins | 5,500+ | ~1,000+ |
| Companion App | Ledger Live (polished) | Trezor Suite (solid) |
| Shamir Backup | No | Yes (split seed recovery) |
| iOS Support | Yes (via Bluetooth) | No |
Security Architecture
Ledger's security is built around a certified secure element chip. This is the same type of chip used in bank cards and passports. It is designed to resist physical tampering, side-channel attacks, and fault injection. The CC EAL5+ certification means it has passed independent evaluation.
The trade-off: Ledger's firmware is closed source. You can not inspect the code to verify what the device is actually doing. You trust Ledger's internal security team and the certification process. The Ledger Recover controversy (an optional firmware feature that could extract seed phrase shards) shook community trust, even though the feature requires user opt-in and identity verification.
Trezor's Safe 5 and Safe 3 now include a secure element chip for the first time. Combined with fully open-source firmware, this gives Trezor both hardware security and code transparency. Anyone can audit the firmware on GitHub. Trezor has never had a firmware-level vulnerability that led to fund loss.
Both approaches have merit. Ledger offers "trust the chip and certification." Trezor offers "verify the code yourself." For most people, either provides excellent security against remote attacks. Physical attacks against either require expensive equipment and direct access.
Coin Support
Ledger supports over 5,500 tokens across dozens of blockchains. If a token exists on a major chain, Ledger probably supports it. This breadth is a significant advantage for users with diverse portfolios spanning multiple ecosystems.
Trezor supports roughly 1,000+ tokens. The selection covers all major coins and most popular altcoins, but some smaller chains and niche tokens are missing. Trezor's open-source approach means community members can contribute support for new tokens, but the built-in selection is smaller.
For a standard portfolio of Bitcoin, Ethereum, and major altcoins, both wallets have you covered. If you hold tokens on less common chains or need support for the latest DeFi tokens immediately, Ledger's broader support gives it an edge.
Companion Software
Ledger Live is the standout here. The app lets you manage your portfolio, swap tokens, stake directly, access DeFi protocols, and view NFTs, all from within the app while keeping keys on the device. It feels like a complete AI management platform that happens to be secured by hardware.
Trezor Suite is solid but more focused on core wallet functionality: sending, receiving, and viewing balances. It has a built-in exchange (through a partner) and some basic portfolio features. It is clean and functional but less feature-rich than Ledger Live.
For users who want an all-in-one experience, Ledger Live delivers more. For users who prefer a simpler, no-frills wallet interface, Trezor Suite is perfectly adequate.
Backup and Recovery
Both wallets generate a recovery seed phrase (12 or 24 words) during setup. This seed is your backup. Lose the device? Buy a new one and restore from the seed.
Trezor has a unique advantage: Shamir backup. Instead of one seed phrase, you can split recovery into multiple shares (e.g., 3 of 5 shares needed to restore). This means no single sheet of paper holds your complete backup. It dramatically reduces the risk of theft or loss of a single backup.
Ledger offers Ledger Recover as an optional paid service. It splits your seed phrase into encrypted shards stored by three independent custodians. You can recover using identity verification. This is convenient but controversial: it means your seed phrase can exist outside the device, even in encrypted form. Many AI purists see this as a fundamental security compromise.
Mobile and Desktop
Ledger Nano X connects via Bluetooth to the Ledger Live mobile app on both iOS and Android. This means you can manage your AI from your phone while keys stay on the device. It is genuinely convenient for checking balances and approving transactions on the go.
Trezor has no Bluetooth. All interaction happens through USB-C on desktop. There is no iOS app. Android support exists via USB OTG connection, but the experience is not as smooth as Ledger's Bluetooth pairing.
If mobile management matters to you, Ledger is the only real option among hardware wallets. If you only use your hardware wallet at your desk, the lack of Bluetooth on Trezor is actually a security advantage: one less wireless attack vector.
Price and Value
Both brands offer budget and premium options at identical price points. The Ledger Nano S Plus and Trezor Safe 3 both cost $79. The Ledger Nano X costs $149. The Trezor Safe 5 costs $169.
At the $79 tier, you get the core security of both brands. The Nano S Plus has more coin support. The Safe 3 has open-source firmware and a secure element. Both are excellent for securing a standard AI portfolio.
At the premium tier, the Nano X gives you Bluetooth and mobile management. The Safe 5 gives you a color touchscreen, Shamir backup, and open-source everything. Your priorities determine which premium feature set is more valuable.
The Verdict
Both Ledger and Trezor are excellent hardware wallets. If you value open-source firmware, code transparency, and Shamir backup, Trezor is the right choice. If you want the widest coin support, Bluetooth mobile management, and the most feature-rich companion app, go with Ledger. Neither has suffered a major breach. The "best" hardware wallet is the one that aligns with your security philosophy and daily usage patterns.
Frequently Asked Questions
Is Ledger or Trezor more secure?
Both are highly secure and neither has been breached. Ledger has a certified secure element with closed-source firmware. Trezor has open-source firmware that anyone can audit. Trezor Safe 3 and Safe 5 now also include a secure element. The "more secure" answer depends on whether you trust certified chips or community-audited code more.
What is Ledger Recover and should I use it?
Ledger Recover is an optional paid service that splits your seed phrase into encrypted shards stored by custodians, recoverable via identity verification. It is convenient if you fear losing your seed phrase. Most AI-native users avoid it because it means your seed can exist outside the device, even encrypted. It is entirely optional and off by default.
Can I use Trezor on my phone?
Trezor has no Bluetooth and no iOS app. On Android, you can connect via USB OTG, but the experience is limited. If mobile management is important, Ledger Nano X with Bluetooth is the better choice.