Hardware wallets are one of the most secure ways to store your Bitcoin and other cryptocurrencies.
They are created to keep your private keys offline. But with so many options on the market, choosing the right hardware wallet might become overwhelming, especially for beginners.
In 2024 alone, crypto hacks led to over $2.1 billion in losses, with a boom in phishing attacks specifically designed to target crypto wallets.
Phishing scams and tainted browser extensions are created to trick you into revealing seed phrases and your private keys, making online and exchange-based wallets riskier than ever in 2025.
Leaders in Crypto Safety
We at Material Bitcoin are leaders in crypto safety and security, providing trusted resources to help you protect your assets.
Our mission is to simplify crypto security and offer the ultimate offline protection against bitcoin theft, hacks, and damage.
In this guide, we’ll focus on three leaders in hardware wallets: Ledger, Trezor, and KeepKey.
We’re here to help you choose the best hardware wallet for your needs.
Why Do You Need a Hardware Wallet for Your Crypto?
Crypto is a prime target for hackers, with almost $2 billion worth of crypto being stolen in early 2025 from exchanges and online wallets.
Common risks include phishing attacks, malware, and breaches of custodial platforms.
Most recently, Bybit was hacked and about $1.5 billion worth of Ethereum was stolen from accounts. Interestingly enough, some of Bybits earliest investors was current U.S. President Donald Trump.
Trump himself is now pushing for a larger crypto reserve, boosting prices but also, implementing stronger regulations and seizures.
Of course, this opens up the conversation to a whole new point about anonymity and whether your crypto wallet is traceable.
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Although many hardware wallets must comply with updated regulations and KYC policies, anyone holding a large amount of crypto should use a hardware wallet for storage.
They are essential for long-term holders, DeFi users, and even active traders who value security.
Ledger vs Trezor vs KeepKey
To help break down these popular hardware wallets and how they function, we will explore them by category.
🛠️Design and Build Quality💎
Ledger Nano X/S Plus
Both are compact with a sleek design. The Nano X features a brushed stainless steel cover and a USB-C connection. They are small and easy to carry, ideal for on-the-go users.
Trezor Safe 5
Made with a metal and plastic hybrid casing, it features a large color touchscreen, and USB-C.
KeepKey
Larger and heavier, with a solid aluminum body and polycarbonate front. It has a larger OLED screen but is bulkier to carry around.
🧑⚖️Verdict
Ledger Nano X is best for portability and minimalism, Trezor Safe 5 is great for premium feel and touchscreen, while KeepKey wins for display size.
🛡️Security and Privacy👁️🗨️
Ledger (Nano X/S Plus)
Ledger wallets are equipped with CC EAL5+ certified Secure Element chip. Its firmware is partially open-source.
Trezor Safe 5
Fully open-source firmware, audited for transparency. Includes a Secure Element (EAL6+) in this model, which is a major step up from previous Trezors models providing a higher resistance to hackings.
KeepKey
Open-source firmware, but no Secure Element and limited firmware updates.
🧑⚖️Verdict
Ledger and Trezor now both offer Secure Elements, while KeepKey falls behind because of its slower updates and lack of protection.
🧑💻User Experience👍
Ledger Live
This is Ledger’s companion app that supports thousands of cryptocurrencies, staking, and NFTs. It’s considered to be user-friendly but in our opinion, may feel complex for beginners because of its extensive features.
Trezor Suite
A simple, privacy-focused setup with Tor integration. The device’s touchscreen helps to simply PIN and passphrase entry.
ShapeShift for KeepKey
A basic and easy-to-set-up platform, but has limited features and coins.
🧑⚖️Verdict
Trezor is better for beginners, Ledger is great for advanced users and DeFi/NFT integration, while KeepKey is ideal for minimalists.
💲Price and Value💰
Ledger Nano S Plus: $79, the best value for a full-featured hardware wallet.
Ledger Nano X: $149, adds Bluetooth and battery for mobile use.
Trezor Safe 5: $169, includes Secure Element, touchscreen, and premium materials, higher price reflects enhanced features.
KeepKey: $78, often discounted to $49, but limited functionality and updates.
🧑⚖️Verdict
Ledger Nano S Plus is the best budget choice, Trezor for a premium feel, and KeepKey only for those prioritizing low cost over features.
Security Under the Microscope – Are They Really Hack-Proof?
Hardware wallets provide great security.
But, we must warn, depending on the nature of a hardware wallet, some can be more hackable than others.
To understand this a bit better, let’s explain the types of hardware wallets that exist.
Protection Against Hacks and Malware
Hardware wallets like Ledger, Trezor, and KeepKey are designed to sign crypto transactions offline.
This is how they maintain your private keys remain offline, therefore reducing the possibility of a hack.
⚠️Warning:
Although private keys are stored offline, they are kept on the device itself. As all three of these popular hardware wallets rely on third-party apps to function, you must take extra steps in using best practices when connecting to your mobile device or computer.
Recovery Seed Security
All three wallets apply the BIP39 standard by generating a 24-word recovery seed.
This is the only way to restore access to your crypto if the device is lost or damaged.
However, seed phrases themselves can be a potential security risk if not stored properly as they can be stolen, damaged by fire or water, or photographed.
💡Pro Tip:
For maximum protection of your seed phrase, use a metal backup crypto wallet. A fireproof and durable option like Material DIY keeps your recovery phase safe from damage and loss.
Insights from Cybersecurity Experts
Ledger’s Secure Element is widely praised for its strong defense against hardware-based attacks.
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However, it should be noted that Ledger was hacked back in 2023 when a former employee fell victim to a sophisticated phishing attack.
This further proves just how vulnerable anyone can be when dealing with third-party accounts and apps.
Trezor has committed to a fully open-source firmware that allows independent audits, providing better transparency.
However, experts, like popular YouTuber CryptoSnake, noted that the lack of a Secure Element in earlier models was a security issue. The newer Safe 5 model addresses this by including the EAL6+ Secure Element.
KeepKey, while is functional and a good open-source wallet, it’s had fewer updates compared to Ledger and Trezor. Overall, it’s a good hardware wallet for diverse portfolios and investors who want a larger wallet screen.
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User Reviews – The Good, The Bad, and The Ugly
Ranging from Reddit forms, Trust Pilot, Amazon, and YouTube, there are a lot of user reviews and comments to be found about each wallet.
Overall, most users are generally satisfied with each device, but as you see, it can be a mixed bag depending on each person’s experience.
Even crypto influencers have something to say about liking Trezor over Ledger and the battle continues…
@theweeblings0I’ve been using a ledger for years, but i kinda like the trezor now♬ original sound – The Weeblings – The Weeblings | $1m Journey 💵
From our experience, the best option for you is going to depend on your needs and your investing style.
User Overview of Ledger vs Trezor vs Keepkey
Which One Is Best for You?
Best Choice for Beginners
Trezor One is ideal for beginners looking for a simple and affordable option starting at $49, although the pricier Safe 5 is a more secure choice, at $169.
Best Choice for Maximum Security
The Ledger Nano X, with Secure Element and Bluetooth support, is considered one of the most secure and versatile wallets available.
For those storing large amounts of Bitcoin for the long term, consider Material Bitcoin metal wallets to provide cold storage with physical protection against fire and theft.
Best Choice for Value for Money
KeepKey offers the best solution for its value, offering a large variety of crypto support and security while being reasonably priced.
Final Thoughts on Ledger vs Trezor Vs KeepKey
In the end, choosing between these hardware wallets depends on your needs.
For the best balance of security, features, and value any one of these crypto wallets is a top choice for protecting your crypto in 2025.
Frequently Asked Questions Before Buying
Which Hardware Wallet Is the Most Secure?
- Ledger Nano X and Trezor Safe 5 both use Secure Elements for strong protection. Ledger is more closed-source, while Safe 5 is fully open-source. KeepKey lacks a Secure Element.
Can I Use Ledger, Safe 5, or KeepKey Offline?
- Yes, all three sign transactions are offline, so your private keys never leave the device.
How Long Do These Devices Last?
- Typically any electronic device should last between 5-10 years. But your recovery seed is what protects your funds. Make sure to use a metal backup card, like Material DIY, for life-long protection!
What Happens If I Lose My Hardware Wallet?
- You can recover funds using your 24-word seed phrase on a new device.
Can I Store NFTs and DeFi Assets?
- Ledger and Trezor support NFTs and DeFi, although may require third-party support. KeepKey has limited support.
Are These Devices Mobile-Friendly?
- Ledger Nano X connects via Bluetooth. While Ledger S Plus and Trezor Safe 5 work with USB-C. KeepKey is not mobile-friendly, it requires a USB connection to KeepKey Desktop and is only compatible with Windows/MacOS/Linux.
Can I Trust These Brands?
- All three of these crypto wallets have large names globally as reliable electronic hardware wallets.
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