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Managing different types of cryptocurrencies can be a challenge, but keeping them safe is where the real battle begins. Digital wallets are used to store cryptocurrencies safely as they collect all the digital transactions and cash that you make. However, it is worth noting that hardware wallets are your best bet in achieving high levels of security for your private keys. Trezor and Ledger are hardware wallets where you can keep these private keys safe and sound in an offline environment.
Digital wallets Trezor and Ledger are the most popular hardware wallets in the market. Let’s put them side by side for you to assess which one best suits your fancy.
The price of the products depends on the model you are eyeing. Gleaning from the official stores of Ledger and Trezor, they cost around $70. There is no notable difference in the price between the two. Before finalizing your purchase, it would be best to examine other factors such as usability and security.
This is the most crucial factor in looking for the best hardware wallet for your assets. Both Trezor and Ledger offer reliable security but in different ways.
Trezor utilizes a passphrase entry. This is an advanced feature that lets you input a secret phrase on top of your numeric PIN every time you connect to your device. Meanwhile, Ledger is not open-source. This means that there is no way of knowing what type of Firmware they use for such a purpose.
A hardware wallet needs to have a display screen so that the user can enter the recovery passphrase on the device itself. Trezor and Ledger are both equipped with a touch screen.
Most Trezor models are integrated with large display screens in a full-color display. You can effortlessly navigate and verify transactions with its convenient display screen. Ledger models generally have small OLED screens.
The Final Verdict
There are more aspects to a hardware wallet than meets the eye. It is better to look scrutinize each of the products including its key features, among other things. Trezor or Ledger? It is a matter of preference for the user. Remember to perform extensive research before buying something pricey, such as these hardware wallets.