March 9, 2021

Best Bitcoin Wallet: Keepkey vs Trezor vs Ledger

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The best way for an owner of any cryptocurrency to have full control and security of their funds is done by utilizing a tool known as a hardware wallet. Currently, the three most popular cryptocurrency hardware wallets are designed by the companies Keepkey, Trezor and Ledger. This article will go into detail about each company and device. We will provide an updated 2019 comparison of each wallet to help you decide which is the best bitcoin wallet for you.

What is a Hardware Wallet?

A hardware wallet is a physical electronic device designed to protect and store an individual’s cryptocurrency funds. These wallets store your private keys (a sophisticated form of code that allows a user unique and secure access to their cryptocurrency) directly on the device so that a remote attacker will not be able to steal your funds.

Because these hardware wallets are designed in such a secure fashion, its possible to safely use them on any computer. You can even use these devices on one that is infected with malware.

Think of it like this, utilizing a limited USB connection a mouse is able to tell a computer where it is. However, the computer is unable to physically move the mouse by itself. In the same way, when utilizing a hardware wallet, cryptocurrency transactions can only go from your computer to your wallet and back when you authorize it by physically pressing the buttons on the device. The design of this system even allows hardware wallet customers to use infected or otherwise compromised computers safely.

These hardware wallets act as a highly secure cold storage offline wallet solution. The devices hold your private keys safely and give the wallet the ability to sign a transaction without the need to connect to the internet.

Another great feature is that most of these devices are also very small and can be carried around on a keychain or in your pocket. This allows you to spend your funds on the go by simply connecting to any computer with internet access.

KeepKey 

Click Here To Order Your KeepKey

Keepkey Wallet

Company Overview

KeepKey is located in the UNITED STATES and was founded by Darin Stanchfield, who is the CEO and Ken Hodler, who is the CTO. The company bought the Bitcoin wallet Multibit in 2016, and was later acquired by Shapeshift during August 2017.

Keepkey’s wallet is known for it’s solid feel and attractive look. However, KeepKey supports the least amount of coins of the three companies. Unfortunately, they also have a reputation for being the slowest of the three companies to respond to forks and new features of Bitcoin.

KeepKey Features

KeepKey’s hardware wallet protects cryptocurrency coins such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin from being lost or stolen. When you first receive your KeepKey wallet, the box should include a KeepKey seal to show that your device is secure and unopened.

The box comes with your KeepKey hardware wallet, a card to write down the recovery sentence (the series of words displayed by KeepKey which is used to gain access to your wallet in case of theft or a lost key), a leather case to keep the card in and a USB cable used to connect your KeepKey wallet to your computer.

Many hardware wallet users claim that KeepKey’s design and animation make the user experience much better than other wallets. The wallet is also much larger and more durable than its competitors. This helps to protect your investments and makes reading the wallet much easier because of its larger display. KeepKey also offers second screen protection like Trezor does, making the device very secure when it comes to keystroke spying.

In order to make KeepKey work, you first need the wallet software installed on your computer and you then need to generate a private key.

Additional benefits:

1. It is easy to setup and also has advanced features, making it great for new and experienced cryptocurrency owners alike

2. The large display screen is easy to read and gives users clarity when transferring coins

3. Every transaction requires manual approval, done by pressing the confirmation button on the physical device

4. Private key generation is done by its random number generator. This allows for users to write down a backup copy of the wallet utilizing a twelve word recovery sentence (KeepKey also supports 18 and 24 word seed lengths)

5. Recovery of your wallet using the backup seed when your device is lost, stolen or damaged (This can be done on KeepKey’s chrome extension)

6. Offline storage

7. The best security available, protecting against physical or virtual theft so that it can work on any computer. It can ever be used on one that has been targeted by hackers or has malware on it

8. The random number generator and pin code help to ensure that your wallet is secure from theft, hackers or malware, so that your coins never leave your wallet

9. Your private key is stored securely on the wallet, never leaving the device and is PIN protected

How To Setup Keepkey

The setup for KeepKey is very straightforward and is probably the most simple of all hardware wallets. The entire process, including adding a PIN and making a copy of your recovery seed should take less than 5 minutes. Below are the exact steps to take and a couple videos showing you the process:

1. Download the KeepKey App from the Google Chrome store

2. Connect your KeepKey device to your computer with the USB cable and open the KeepKey App

3. Initialize your device

4. Check out the videos below for demonstrations

There are also other software wallets like Electrum and MyCelium that work with KeepKey. Additionally, because KeepKey was acquired by Shapeshift, each KeepKey wallet includes a built in cryptocurrency to cryptocurrency exchange so that you can easily trade cryptocurrencies as shown below:

Ledger

Click Here To Order Your Ledger 

Ledger Wallet Ledger Wallet

Company Overview

Ledger is the biggest hardware wallet company in the world today. Their company launched in 2014, with locations in the UNITED STATES and Paris France. The company is now an industry leader in security and infrastructure solutions for cryptocurrencies and blockchain applications.

Ledger specializes in creating products and services that protect cryptocurrency assets. Their most notable products are their hardware wallets the Ledger Nano X and the Ledger Nano S.

Ledger Nano X

How To Setup The Ledger Nano X

1. First, set up a PIN code. When you first set up the wallet, the device will ask you to choose a 4-8 digit PIN code. You can change the number by using the two buttons on the physical device. When you select a number for your code you must press both buttons at the same time to confirm it.

2. Second, you must write down your seed phrase. You can think of the seed phrase as the password to your wallet. When you first initialize your wallet you will receive a series of 24 words. Be sure to write them down on a piece of paper and keep it in a safe location. This seed phrase can be used to recover your funds if  your device gets lost, stolen or broken. You will be asked to confirm the seed phrase after you write it down. 

3. Next you can pair the Ledger Nano X with your mobile device if desired. The Ledger Nano X can also be controlled with a mobile application via bluetooth.

4. You can now install applications on the device once the device is paired. Selecting which application depends on which cryptocurrency coins you plan on using.

5. Finally you can add various accounts to your Ledger Nano X. For instance, once you add the Bitcoin application to your device, you must also add a bitcoin account on the device (although this step is not conveyed on the user interface). If you have any issues you can visit Ledger’s website for the complete explanation of the onboarding process. 

Ledger Nano S

Ledger Nano S Features

The Ledger Nano S is the most popular hardware wallet available today. The Nano S also supports the most coins when compared to the KeepKey or Trezor. It has a OLED display that is completely secure. This allows you to verify each transaction by simply tapping the buttons on the side of the device. This wallet is also so secure that it can be used on almost any computer, even those infected with malware.

Some of the other features that the Ledger Nano S offers are:

1. Tamper-proof tape around the box (if the tape is altered at all, make sure to take a picture and send an email to the Ledger company so that you can return it and request a new device)

2. Ability to store your private key and public key offline so that you can protect yourself from hackers

3. Required PIN code entered during setup in order to help prevent a loss if your device is lost or stolen

4. Two physical buttons that increase security. For instance, you have to press both buttons at the same time to ensure that a hacker can’t hack your device

5. Generation of a recovery phrase offline, which is essentially a complete backup of your wallet. Your recovery phrase is displayed only on the screen of the device, ensuring that it is not displayed on a device that is connected to the internet.

6. Keychain

7. Keyring

8. Micro-USB cable

9. Recovery sheet for writing down your seed

10. Lanyard if you want to wear the device around your neck

How To Setup The Ledger Nano S

Again the Ledger Nano S is fairly simple to setup but there are a few things to make sure that you do correctly. Take the following steps to setup the Nano S properly:

1. First you must update the firmware. For a complete walkthrough on how to do so checkout this video: https://youtu.be/_5CymmI4BTQ

2. To begin the installation, connect the USB cable to a computer and your Ledger Nano S device. You can choose to create a new wallet or import an old one with your recovery phrase, then follow the instructions on the devices screen.

3. You can then choose a pin code. Make sure to write the down the code and keep it in a safe place because 3 consecutive wrong pin entries will wipe your Nano S to protect your coins.

4. Make sure that if you chose to make a new wallet that your write down your 24 word recovery phrase as well.

5. Install any Ledger apps that you want to use after you see the “Your device is now ready” message on your devices screen.

6. Download the Ledger Wallet Chrome app and your Ledger is now ready to use.

7. Check out the video below for a visual of each step.

 

Trezor Company Overview 

Click Here To Order Your Trezor

TREZOR One

Company Overview

Created in 2014, Trezor is the oldest hardware wallet of all three. The company was created by Satoshi Labs, which is the organization that runs the Slush Mining Pool and is a pioneer in the cryptocurrency industry.

Trezor offers both the Trezor One and Trezor Model T hardware wallets. While both are great options, check out the details of each wallet below to see which one is right for you.

Trezor One Features

1. Unique PIN code that protects your funds if your wallet is lost, stolen or hacked

2. Hardware design does not allow hackers to gain access to your wallet. This is true even when using a computer that has malware or is hacked

3. Works on popular browsers like Firefox and Chrome

4. Can be used on Apple, Linux or Windows. Can also be used with Android devices that have the proper USB

5. Ability to recover your wallet at any time using the recovery seed

6. Supports a lot of coins such as Bitcoin, Bitcoin Cash, Ethereum, all ERC-20 tokens, Dash, Litecoin and many more

Trezor One Setup

1. First install the Trezor Bridge software or the Trezor Chrome extension. You can also download the Trezor Manager Android app but you will need an OTG cable

2. Connect your device to your computer and install the firmware. This is done by simply following the instructions on your screen

3. Once the firmware is installed, replug in your Trezor and choose whether to create a new wallet or recover an old one

4. Click the “Create new” button if you’d like a new wallet or import an old wallet using a recovery phrase

5. Read and agree to the terms and conditions

6. Write down your backup recovery phrase displayed on your Trezor screen on your recovery card

7. Your device is now ready to use

Trezor Model T Features

1. Very similar to the Trezor One except that it has a touchscreen instead of two buttons

2. Cosmetically better looking

3. Ability to eliminate the need to use a computer for certain processes like setting up your PIN code or recovering your wallet

4. Utilizes the keypad often so that hackers or keystroke monitors can not see the numbers you’re using

Trezor Model T Setup

The installation process is pretty simple just like the Trezor One and involves the following steps:

1. First install the Trezor Bridge software or the Trezor Chrome extension. You can also download the Trezor Manager Android app but you will need an OTG cable

2. Connect your device to your computer and install the firmware. This is done by simply following the instructions on your screen

3. Once the firmware is installed, replug in your Trezor and choose whether to create a new wallet or recover an old one

4. Click the “Create new” button if you’d like a new wallet or import an old wallet using a recovery phrase

5. Read and agree to the terms and conditions

6. Your device is now ready to use

Note that the Model T does not display your 12 word seed phrase and allows you to start using your device instantly. You will be prompted with a warning to backup your seed phrase but it is upto you whether or not to do so.

However, we always recommend that you write down your seed phrase as it is very important to have and is a simple one time only process.

Comparison

After reviewing all 3 companies, we will now compare specific features of each companies devices to help you decide on which wallet to choose.

Screen

A screen is actually a very important security feature to have on a hardware wallet. This is because a screen allows you to backup your recovery phrase without exposing it to a computer. Additionally, a screen lets you review the amounts and addresses of each transaction before you confirm it.

The Trezor was the first hardware wallet to have a screen but since then each company has added a screen to their devices. The largest screen comes on the KeepKey (256×64 pixels OLED). The second largest is the Trezor (128×64 pixels) and the smallest is the Ledger Nano S (250×30 pixels OLED).

 The only real difference between each screen size is that a larger screen makes more data visible at one time. This eliminates the need to click to see more information.

Even though the screen sizes are relatively small, each one does its job just fine. Also, keep in mind that a hardware wallet screen is not meant to be used to watch tv on.

Having said that, the hardware wallet with the largest and easiest to read screen is the KeepKey. The Trezor comes in second and the Ledger Nano S comes in third.

Coins Supported 

The amount of supported coins actually varies quite a bit depending on which device you are using. The Ledger  is definitely the winner in this category, but Trezor does support some lesser known cryptocurrencies with KeepKey supporting the least amount.

Check out these pages if you’d like to see the specific coins offered by each company: Ledger Coins Supported, Trezor Coins Supported& KeepKey Coins Supported,

Device Design & Size

Each device has different unique features that can be hard to see in their pictures. The Trezor is the smallest of the three and while the Ledger Nano S can be folded to be nearly the same size as the Trezor, it must be unfolded in order to use it. Because the Nano can fold, it is easy to mistake it for a USB stick, making it the most discreet device.

The KeepKey is the largest device but it also has the highest quality look. KeepKey appears to be the most premium device based upon the look and feel. However, some may prefer a more discreet device like the Ledger Nano.

The KeepKey’s screen is also much bigger than the Ledger Nano’s or Trezor’s. However, the Ledger Nano S and Trezor both have two physical buttons on the side while the KeepKey only has one.

The Ledger Nano S and KeepKey are made of aluminum while the Trezor is made of plastic. While you may think that aluminum sounds like it’s nicer than plastic, the Trezor ‘s plastic has actually been proven to be more drop resistant.

The dimensions of each device are: Ledger Nano S = 98mm x 18mm x 9mm, KeepKey = 38mm x 93.5mm x 12.2mm, and Trezor = 60mm x 30mm x 6mm.

Security

Each wallet is very secure and each is a great place to store your cryptocurrencies. These devices are so secure that it is nearly impossible for any of these wallets to be hacked when used correctly.

All of the devices have screens, meaning that you won’t have to worry about exposing your recovery phrase to your computer where it can be hacked. No matter which device you choose, security is not something you should worry about.

Prices

There are various versions of each wallet and each has its own unique price based on the specifications.

For instance, the Trezor One starts at $74.99 and the Trezor Model T starts at $169.99 but there are upgraded versions of each such as the Metallic Trezor One which starts at $568.91.

The KeepKey starts at $79.00.

The Ledger Nano X starts at $119.00 and the Ledger Nano S starts at $59.00.

Conclusion – Which Device Is Right For You? 

All of the devices offered by KeepKey, Ledger and Trezor are excellent options and you really can’t go wrong with any of them. Each company and device has their own unique qualities, so we recommend that you prioritize the features you desire most to help decide which wallet best meets your needs.

For example, choose the Ledger Nano X or S if you need the widest selection of coins offered. Also, if you are simply looking for the least expensive or the most discrete device, choose the Ledger Nano S. The Ledger wallet interface, known as Ledger Live, is the most robust and easy to use, however, the device design is not completely Open Source.

The KeepKey is for you if you are looking for the most premium device, and it also gives you the option to modify it. Additionally, the KeepKey has the largest screen which can display the most information at one time and makes it easiest to read.

On the other hand, the Trezor is made of plastic, which you may think gives it a cheap feel, but it actually makes it more drop resistant and durable. The Trezor is also the leader in company reputation, having one of the largest impacts inside the cryptocurrency community. The Trezor Model T boasts a built in touchscreen and supports coins that aren’t often included in many hardware wallets such as XRP and XMR.

Once you know which features are most important to you and you’ve made the choice to truly protect your investments, order your favorite device by clicking the links below or any that are featured inside the article.

KeepKey – Click Here To Order

Trezor – Click Here To Order

Ledger – Click Here To Order

 

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