The big bucks need the sort of security that it deserves. So, when the thought of multiplying them in the near future strikes, a new wave of doing so is sought after. The rising growth of the cryptocurrency in 2014 was thought of to be a new revolution in the investment spectrum. Buying and selling of these cryptocurrencies were all over the news and trends. Then what happened that resulted in a sudden decline of the same?
Questions raised on the security of the transactions can be one of the reasons why a decline in the cryptocurrency could be witnessed. Hacking and other such ethical breaches may have seized to exist. But with hardware wallets and their provisions and features, the security aspect is much relaxed. The best advantage of holding the cryptocurrencies in such wallets is that the private keys are stored in the devices itself and do not get shared with any server or any other storage which is software enabled.
If we are to compare two of the most popular hardware wallets in the market at the moment that makes cryptocurrency transactions safe and secured, then they are of Ledger Nano S and Trezor. But to choose to opt for one over the other needs an analysis of the intricate details of all of what it comprises of. The Ledger Nano S and Trezor have a tough face-off with each other considering the following aspects-
- Ledger Nano S supports more coins as compared to Trezor. This advantage is vital for people who wish to choose from varied options of coins that are available.
- There is not much difference in the cost of Trezor or Ledger Nano S.
- Trezor has a bigger display screen in contrast with Ledger Nano S. This provides a more comfortable view.
- The setup process for both the wallets is the same. They need to be connected via USB to a PC with PC oriented operating systems. There is the requirement to set a PIN code and a backup recovery seed to set up.
- Trezor is on mobile! The best advantage one can look for. Trezor has an app unlike Ledger Nano S. There is a mobile version available but that doesn’t beat the ease and comfort of an app.
- The durability of the hardware of Ledger Nano S is hands down more because of its stainless steel body which makes it less susceptible to damage, unlike Trezor’s plastic body.