The hardware wallet market is growing as cryptocurrency grows.
KeepKey also entered the market.
Competition has lowered prices, but it makes choosing the right hardware wallet a tough decision.
In this guide, we will see how the three main competitors in the space fare in many areas like security, coin support, setup and user experience.
The Ledger Nano X is Ledger’s newest hardware wallet.
The main benefit is that it has bluetooth, making it the first hardware wallet that connects with iOS devices.
It’s more secure than using just an app on your phone, because all transactions are signed with the Nano X.
It’s very easy to setup and use.
The TREZOR Model-T is a second generation Bitcoin/crypto hardware wallet manufactured by SatoshiLabs.
The TREZOR line debuted in 2014 with the TREZOR One and has remained one of the most popular cryptocurrency cold storage solutions to date.
KeepKey has the nicest feel to it and feels solid in your hand.
The main argument against KeepKey is that it lacks support for many coins. KeepKey also is the slowest of the three to add new features.
A screen is a really important security feature for hardware wallets.
The screen lets you backup the recovery phrase without exposing it on a computer. It also allows you to review the addresses and amounts before confirming an outgoing transaction.
All three devices have a screen.
The TREZOR T has a color screen. Ledger Nano X and KeepKey have OLED screens.
|Ledger Nano S|
The Ledger Nano X supports the most coins. The TREZOR T also supports a good amount of coins. KeepKey supports the least amount of coins.
All three devices support any ERC20 token.
Here are the supported coins out of the top 20 largest cryptocurrencies:
|Ledger Nano X ||TREZOR T ||KeepKey |
|Binance Coin (BNB)|
|Bcash SV (BSV)|
|Ethereum Classic (ETC)|
|Ledger Nano X||$119|
Each wallet does have some unique differences that are hard to see in the picture.
The KeepKey, on the other hand, is the biggest of the three.
The TREZOR T and Ledger Nano X both have two physical buttons, while the KeepKey has one.
All three wallets are a very safe way to store your cryptocurrencies. All three are much better than using normal wallets on your phone or computer.
Still, there are some differences, the main one being that the Ledger Nano X is based on a dual chip architecture featuring a secure element.
All three devices have screens which means you don’t need to expose the recovery phrase to your computer.
In order to use any hardware wallet you need software that helps you command and interact with the wallet. The table below shows the compatibility of Bitcoin wallet software with each hardware wallet.
|TREZOR T||Ledger Nano X||KeepKey|
|MultiBit HD |
Yes, all three wallets support Segwit addresses.
The main benefit of Segwit is lower fees when sending transaction.
We wouldn’t say there is a “best”.
KeepKey’s lack of updates are cause for concern, and we’d likely turn to one of the other two wallets.
The TREZOR T is $165, vs $119 for the Ledger Nano X. If the color screen is important the TREZOR T might be worth it.