The most famous hardware wallets for cryptos are Trezor and Ledger Nano S. Which hardware wallet should you choose? Which is easiest to use?
We have already written some articles related to cryptocurrencies and Bitcoin, and this is a new article on the same subject. If you want safety online, we have lots of articles on VPN providers and suggestions on how to secure your confidential data as you use open WiFi networks and so. But, how can you secure your cryptos in the best possible way?
Most people agree that storing your cryptos at the different exchanges is dangerous. It might be safe for a shorter period, but if you plan on storing your cryptos for a long time, you better store them somewhere safe. Most people recommend using a hardware wallet (cold-wallet), as this is one of the safest and best solutions. But, which hardware wallet to use?
The two most famous hardware wallets for cryptos
The most famous hardware wallets for cryptos are Ledger Nano S and Trezor. These are used by millions of people worldwide, and currently the demand for these are so big, that you often have to wait weeks before you get it delivered to your address.
Maybe you are sitting at home right now wondering whether to buy a Trezor or a Ledger Nano S? Which one should you pick? We do not have a 100% answer telling you which one to buy, but we are using both regularly, and will try to share our insight on the subject in this article.
Ledger Nano S vs. Trezor
When it comes to the design of both the hardware wallets, we personally like the Trezor better than the Ledger Nano S. But, we do not really care about the design, so we would never take that into consideration as we decide which of these to buy. What happens once you unpack the box and plug the hardware wallet into your USB drive is much more important.
The first steps
Before you can start using your Trezor or your Ledger Nano S you will need to do the setup. This can be done in approximately ten minutes. Before you can start using your hardware wallet, you need to do the correct setup. You need to set a pin code for your device, and then write down your private key. This is the most important step during the process, because if something should happen to your hardware wallet, the private key is the solution to get hold of your funds again.
It is important to write your private key down and to store it in a safe place. If this is lost and your hardware wallet is destroyed, all the cryptos stored are lost forever. You might be tempted to write down your private key in a Word document or somewhere on your computer, but that is dangerous. If someone should hack your computer and get hold of your private key, they can easily steal your cryptos, without you even noticing.
The setup process might feel boring, but it is extremely important.
Your Ledger Nano S/Trezor is now setup. What now?
If you have setup the device, you are now ready to deposit and withdraw cryptos. Here comes the first steps, and in this process, we found the Trezor to be way easier to use. With your Trezor you open Google Chrome and visit wallet.trezor.io, and you will at once be able to transfer funds and get addresses to which you can receive cryptos.
With the Ledger Nano S you will need to download one or more applications to your browser or operating system. You then need to have the same applications downloaded to your Ledger Nano S. You can not install tons of apps to your Ledger Nano S, meaning that you have to prioritize. It is possible to uninstall an application from your Ledger Nano S, install another application, and then later remove the latter application, and install the former application again. All your data is stored, and you will always find your cryptos in the given wallet.
But, the Trezor is much easier to use, it has a much nicer display as you see it all in your browser, and in general we prefer the Trezor. But, there are some reasons for which we would choose the Ledger Nano S!
Why we would buy a Ledger Nano S?
The Ledger Nano S has support for way more currencies than the Trezor. At the Ledger Nano S you can store Ripple, Vertcoin, PivX, Viacoin, NEO, and lots of other coins that can not be stored on the Trezor. Both devices support the big currencies like Bitcoin, Ethereum, the ERC20 family (MyEtherWallet), and some others, but you will find support for more coins in general at the Ledger Nano S.
Why we would buy a Trezor?
It is easier to use, it has a nicer web-interface, and for some reason we like this more than the Ledger Nano S.
Why we would both the Trezor and the Ledger Nano S?
Because we need both of them. We store some of the bigger and supported currencies on the Trezor, and then we store smaller currencies on the Ledger Nano S, that are not supported by Trezor.
In the end we are therefore happy with both devices, and we will keep on using both of them in the future.
What do you think? Do you prefer the Trezor or the Ledger Nano S?