Hardware wallet comparison 2022

A hardware wallet is a cold storage solution to keep your bitcoin and crypto private keys secure offline. There are a variety of hardware wallets available on the market, each with their own security model and range of features. The table below summarises the key differences between Ledger, Trezor, and the BitBox02, so you can choose the best hardware wallet for you.

BitBox vs. Ledger vs. Trezor

Hardware wallet comparison
BitBox02 with BitBoxApp Ledger Nano X with Ledger Live Trezor model T with Trezor Suite
Open-source Info Checkmark
BitBoxApp and firmware are fully open source
Crossmark
Crypto firmware runs directly on secure chip, which is protected with "non-disclosure agreements" and prohibits release of program code
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Web wallet and firmware are fully open source
Secure chip Info Checkmark
Dual chip design using a secure chip
Checkmark
Fully trusts secure chip only
Crossmark
Protection against attacker with physical access to the device is out-of-scope
Secure Multisig Info Checkmark
Store multisig account on device, automatically verify for secure send/receive
Crossmark
No receive address verification, change outputs are shown for verification but user cannot distinguish it from an unauthorized address
Almost
Cannot automatically verify that the co-signers are safe, must be manually checked for every receiving transaction
Simple setup Info Checkmark
Fast and simple setup. Backup instantly on microSD card, no need to write seed words
Crossmark
No instant microSD card backup, must manually write down recovery words
Crossmark
No instant microSD card backup, must manually write down recovery words
Easy backup & recovery Info Checkmark
Instant backup and recovery with microSD card, optionally write down recovery words
Crossmark
Manually write down recovery words on paper
Crossmark
Manually write down recovery words on paper
In-App guide Info Checkmark
Context-aware guide answering common questions
Almost
Non-dynamic guides
Almost
Non-dynamic guides
Native desktop app Checkmark
BitBoxApp
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Ledger Live
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Trezor Suite
Mobile app Info Almost
Fully featured Android
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Android / iOS
Almost
Android
Coins & tokens support Info Almost
In app support for BTC, LTC, ETH and selected tokens. ADA with AdaLite and 1500+ ERC20 tokens supported with MyEtherWallet.
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Variety of coins supported
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Variety of coins supported
Unified accounts Info Checkmark
Bitcoin accounts automatically include all supported script types
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Separate accounts for Bitcoin script types needed
Crossmark
Separate accounts for Bitcoin script types needed
Exchange integration Info Almost
Buy crypto directly in the BitBoxApp
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Buy and sell crypto
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Buy and sell crypto
Full node support Info Checkmark
Connect to your own Electrum full node for Bitcoin or Litecoin
Checkmark
Checkmark
Encrypted communication Info Checkmark
End-to-end encryption of communication between app and device
Almost
Bluetooth encrypted, but not USB communication
Crossmark
No encrypted communication
Coin control Checkmark
Checkmark
Checkmark
Tor support Checkmark
has support
Crossmark
does not support Tor
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has support
Anti-klepto protection Info Checkmark
Anti-klepto mitigates the nonce covert channel attack
Crossmark
no protection
Crossmark
no protection
Made in Switzerland
France
Czech Republic
User score Info
Highest rated hardware wallet on Trustpilot
www.trustpilot.com/review/shiftcrypto.ch
User rating on active Trustpilot profile
www.trustpilot.com/review/www.ledger.com
User rating on active Trustpilot profile
www.trustpilot.com/review/trezor.io

The BitBox02 swiss made hardware wallet has powerful security while still being simple and easy to use for a first time hardware wallet user. It also has a range of advanced features for expert users, such as connecting your own node and coin control. Its unique dual chip architecture allows it to use a secure chip while still being open source.

FAQs

What is a hardware wallet?

A hardware wallet is a specialised device that protects your bitcoin and cryptocurrency keys. The hardware wallet can securely sign transactions without exposing the private keys to the host computer or mobile device, which may have malware on it. It also requires the user to physically interact with the device so it cannot automatically make transactions.

What makes a hardware wallet secure?

Hardware wallets are one of the most secure ways to store and interact with your bitcoin or crypto. They create a secure environment for your private keys to be stored on, which means they never leave the hardware wallet. This is important because private keys stored on your computer or mobile device are vulnerable to malware. Anyone that has access to your private key has access to your coins.

Which hardware wallet is the most secure?

There are many hardware wallets available on the market. However, it is important to choose one that is made by a reputable company. These include hardware wallets such as BitBox02, Ledger and Trezor. Each of these wallets have different security models and you should select the one you are most comfortable with. Ledger uses a secure chip to protect against physical attacks whereas the Trezor does not, making the Trezor more vulnerable if an attacker has access to it. However, the Ledger is not fully open source, whereas the Trezor is. Open source allows anyone from the public to audit the code that is running on the device. The BitBox02 has a unique dual chip architecture, which means it can use a secure chip while still having open source code.

Learn more about the BitBox02 security features

Read more