Recently, crypto hardware wallet manufacturer Ledger introduced a new feature called Recover, which allows users to back up their private keys using cloud technology.
The crypto community did not receive the feature well, as it was seen as a potential vulnerability. Amidst the controversy, some community members also felt they were misled by Ledger in the past, with some users alleging the company did not adequately explain the security model of their wallets.
While we still think that Ledger’s hardware wallets are among the safest options for storing cryptocurrency, the fact is that many crypto investors are currently exploring alternatives to Ledger. In this article, we’ll show you 6 of the best hardware cryptocurrency wallets that are good Ledger alternatives.
The best Ledger alternatives
Crypto investors looking for an alternative to Ledger are in luck, as the hardware crypto wallet market is quite competitive and there’s a lot of options to choose from. Without further ado, let’s get started with the best alternatives to Ledger wallets.
- Trezor Model T – Trezor’s flagship hardware wallet
- Trezor Model One – A budget alternative that doesn’t compromise on security
- Blockstream Jade – A rock-solid hardware wallet for Bitcoin investors
- NGRAVE Zero – A high-end hardware wallet with an impressive feature set
- Tangem – A cold wallet with the form factor of a credit card
- Shift Crypto BitBox02 – An elegant crypto wallet with microSD support
1. Trezor Model T – Trezor’s flagship hardware wallet
Trezor is the most prominent crypto hardware wallet company besides Ledger, and the Trezor Model T is its flagship product.
The Model T hardware wallet features a color LCD touchscreen, which provides an overall smoother user experience than Ledger’s button-based user interface. The device connects to your computer via a USB-C cable, and you can manage your transactions using the Trezor Suite software.
The Model T wallet supports more than 1,450 different coins and tokens, including top cryptocurrencies like Bitcoin, Ethereum (and ERC-20 tokens), XRP, Cardano, Dogecoin and many others.
The wallet also supports the Shamir Backup security standard which allows users to create a backup consisting of multiple recovery shares. Then, you can specify how many recovery shares are required to recover your private keys.
The Shamir Backup method makes it extremely difficult for you to lose access to your crypto via theft or destruction of your backup. For example, you can distribute some of the shares to people you trust and distribute others in several different places to minimize the risks of theft and destruction.
However, the Model T’s extensive feature set comes at a price, as the device costs $219. If you hold a significant amount of crypto, the Model T can very much be worth the price. If your crypto holdings are more modest, it might be wiser to consider a cheaper device.
Secure your crypto with the Trezor Model T
2. Trezor Model One – A budget alternative that doesn’t compromise on security
The Model One is Trezor’s more affordable hardware crypto wallet, coming in at just $69. The Model One still maintains a high level of security despite the lower price tag. However, we should point out that it does not support the Shamir Backup feature.
The Trezor Model One has a button-based interface, and it has similar security features to the Model T, including hands-on verification, PIN and passphrase protection. The wallet supports over 1,280 different coins and tokens, which is slightly less than the Model T, but still impressive overall.
Trezor’s open source approach has made it a favorite among some parts of the crypto community. If you’re a Ledger Nano S or Nano S Plus user who’s looking to switch to another wallet, the Trezor Model One is a rock-solid alternative.
Meanwhile, if you’re interested in how the Trezor Model T and Model One stack up against each other, our detailed comparison article will help you make the right choice.
Secure your crypto with the Trezor Model One
3. Blockstream Jade – A rock-solid hardware wallet for Bitcoin investors
If Bitcoin is the only cryptocurrency you’re investing in, the Blockstream Jade hardware wallet might be right up your alley. The Blockstream Jade hardware wallet was developed by Blockstream, which is one of the world’s most prominent Bitcoin development companies.
Notably, the Blockstream Jade wallet comes equipped with a camera that you can use to scan or display QR codes. This makes it possible to sign transactions without connecting the wallet to your device via USB or Bluetooth, eliminating potential attack vectors. However, you can still connect the wallet to other devices using USB or Bluetooth if you wish.
The Blockstream Jade wallet can be used with your desktop computer or mobile device and it is very affordable at a price of just $65.
The main downside of the Blockstream Jade wallet is that it only supports Bitcoin and assets issued on the Liquid sidechain. However, it supports quite a few Bitcoin software wallets, including Blockstream Green, Electrum, Nunchuk, BlueWallet and several others.
4. NGRAVE Zero – A high-end hardware wallet with an impressive feature set
The NGRAVE Zero is a high-end cryptocurrency hardware wallet which offers an impressive suite of features. The wallet’s most immediately noticeable feature is its 4-inch touchscreen, which enables a much smoother user experience than most other hardware wallets. The security features implemented in the wallet have earned the NGRAVE Zero an EAL7 certification.
The NGRAVE Zero is an air-gapped wallet, as it only uses QR codes to display and approve transactions. Of course, the device also features a built-in camera which is used to scan QR codes. The device also has biometric security features, as it features fingerprint scanner which is used in generating private keys, unlocking the device and signing transactions.
NGRAVE Zero supports a solid selection of cryptocurrencies, although not quite as many as Ledger devices. You can use the wallet to store Bitcoin, Ethereum (and all ERC-20 tokens), BNB, XRP, Solana and a number of other leading cryptocurrencies.
The main downside of the NGRAVE Zero wallet is the price. The wallet costs a bit over $400, which means that it’s one of the most expensive hardware wallets on the market. Still, if you invested a significant amount in digital assets and require top-notch security, the NGRAVE Zero is hard to beat.
5. Tangem – A cold wallet with the form factor of a credit card
Tangem is a cold crypto wallet with an EAL6+ certification, and it has the form factor of a credit card. The card is used in conjunction with mobile devices that support NFC (near field communication). The Tangem wallet supports more than 6,000 different crypto assets across 30 blockchain networks.
Tangem wallets are usually sold in packs, which allows for a convenient backup method. At the time of writing, you can get a pack of 2 Tangem cards for $44, or a pack of 3 cards for $56. Notably, Tangem offers a replacement warranty that applies for more than 25 years.
Tangem’s application is open-source and the wallet’s firmware and source code have been audited by Kudelski Security.
If you’re looking for a cold wallet with an elegant form factor, Tangem is definitely worth exploring.
6. Shift Crypto BitBox02 – An elegant crypto wallet with microSD support
BitBox02 is a cryptocurrency wallet that offers convenient and secure storage for digital currencies. This wallet stands out by incorporating a user-friendly interface, ensuring effortless management of cryptocurrencies, and bolstering security through its dual-chip design.
One notable distinction of BitBox02 compared to other hardware wallets is its compatibility with a microSD card that contains the wallet’s backup data. This eliminates the necessity of consistently inputting a 12- or 24-word phrase to operate the wallet.
BitBoxApp serves as the comprehensive application to facilitate all operations. The application’s user interface is characterized by its simplicity and directness. By leveraging the ATECC608A secure chip, the wallet integrates a 120 MHz microcontroller chip, enabling faster execution of multisig setups. Simultaneously, the communication between your computer and the hardware wallet remains encrypted, safeguarding your transactions.
The BitBox02 wallet supports BitBox02 supports Bitcoin, Ethereum, Litecoin, and more than 1,500 crypto assets.
The bottom line
If you’re looking for a Ledger alternative, there’s quite a few options to choose from. In this article, we have highlighted a diverse range of wallets across varying price points, form factors and security models. Hopefully, we helped you find a wallet that will fit the way you want to use and secure your cryptocurrency perfectly.
If you’re unsure if a hardware wallet is necessary for you, we provide a useful overview to help you decide if a hardware wallet is worth it.
Source: https://coincodex.com/article/27679/ledger-alternative/