Cryptocurrency is valuable only when it is. You probably wouldn’t care much about price fluctuations for Bitcoin or Ethereum if you didn’t hold them in your hands – of course, it’s still interesting, but not to the extent that you possess them. However, there are people who can try to take your cryptocurrencies away from you – whether by using a Keylogger, virus, security breach, or any other method. This is why people need a secure cryptocurrency wallet – this is what we will talk about in this comparison of CoolWallet s, Ledger Nano S and Trezor crypto wallets.
Let’s start by defining the evaluation criteria. After that, we will go further and talk about real wallets, their pros and cons, and where to store cryptocurrency. At the very end, I will briefly summarize the results and let you choose which wallet is best to use.
It would be difficult to start talking and comparing cryptocurrency wallets without criteria by which we could compare them. There are many different aspects and functions that a Bitcoin wallet must have in order for it to be convenient to use, but since we will mainly compare the three crypto wallets to find their strengths and weaknesses, we will focus on the main thing.
Below are the criteria that we will use as a basis for comparing CoolWallet S, Ledger Nano S and Trezor:
Security is the most important aspect when it comes to choosing a cryptocurrency wallet. Although CoolWallet, Ledger, and Trezor have this feature by default (they are all hardware cryptographic wallets), we are still going to go a little deeper into each of them and try to highlight the strengths and disadvantages of this aspect.
If you are buying a cryptocurrency wallet, you will probably want it to be affordable and easy to use. There are many outdated cryptocurrency wallets on the market – although they may be cheap, their use is terrible. In this aspect comparison, we will look at each of the three hardware wallets and see if we can come to a clear agreement on how user-friendly they are.
New cryptocurrencies enter the market almost every day. Most people now own not one, but two, three (or five, ten) different cryptocurrencies, regardless of whether they are used for different transactions for other reasons. Because of this, it is important that a good hardware cryptocurrency wallet not only has excellent cryptocurrency storage conditions, but also allows you to store multiple currencies. We will see if we can find a clear winner in this comparison of cryptocurrency wallets.
Even though this is probably one of the least important aspects when it comes to good cryptocurrency wallets, it is always better to carry an aesthetically pleasing device with you, rather than a clumsy and disgusting one.
Price. Finally, we will talk about the price of these three wallets. The price of a hardware cryptocurrency wallet is most often the determining factor when making a decision to buy or skip a device. It should be remembered that we will talk about the three most perfect cryptocurrencies in the game – their prices are likely to reflect this fact.
These will be the main evaluation criteria that we will use to analyze and compare all three wallets. However, before we start, let’s take a brief look at each of the wallets so that we can know what we are dealing with.
Quick overview: CoolWallet S, Ledger Nano S and Tresor
In order to understand that we are talking about the same thing, let’s briefly consider the three wallets in question.
CoolWallet S cryptocurrency wallet is The world’s first mobile bitcoin cryptocurrency wallet. The Coolbits company (and the product behind it) is not as well known as the other companies on this list, but the wallet is slowly but surely entering the mainstream. Although the company itself only started operating in 2014, more and more people who spend time in cryptocurrency communities around the world are starting to hear about how big this new player is in the cryptocurrency market
Ledger Nano S is one of the most popular hardware cryptocurrency wallets on the market. It has earned a reputation for years of excellence in terms of reliability, safety, and overall performance. With more than 1 million product sales worldwide, Ledger is still one of the leading cryptocurrency wallets on the market.
Trezor is the first hardware cryptocurrency wallet ever created. To this day, it is considered the main competitor of Ledger Nano S – both of these hardware wallets currently dominate the market. Since Trezor has been in this business for so long and is fighting for the title of the best top-level crypto wallets, this serves as a great proof of how reliable and time-tested this hardware wallet is.
Now that you have an idea of what we’re dealing with, we can finally move on to actually comparing CoolWallet s, Ledger Nano S and Trezor products. The criteria by which we will compare wallets are not listed in any particular order, unless otherwise specified.
As for security, the CoolWallet S crypto wallet currently has no drawbacks. It offers several different security elements, namely a security element encrypted by Bluetooth, 2 + 1-factor authentication, and several others. So far, the public opinion about CooWallet S security is overwhelmingly positive – there are no noticeable security breaches that could endanger the user’s crypto-coins or reveal some huge flaw in the system.
Like CoolWallet, Ledger is also at the top of the list when it comes to security. The device offers offline storage, the ability to backup and restore your crypto coins if you lose your Bitcoin wallet or it is stolen (you will need a recovery sheet), locks with PIN protection, and so on.Ledger Nano S offers Notch Security – exactly what you should look for in a cryptocurrency wallet.
Like its two rivals, the Trezor Model T has a good level of security. The wallet also offers PIN-based protection, with enabled locks, backups, and multiple confirmations. There has been some controversy recently about the security of both the Ledger and Tresor, but it has been proven that this is not so important. At least on the part of the Ledger – Trezor has received a greater blow. Even so, the hacker must be close to your device and know all kinds of identifying data. Thus, it is safe to say that when it comes to the security of comparing CoolWallet S, Ledger Nano S and Trezor, all three wallets are contenders for the best service.
Support for cryptocurrencies
Since this is a very important aspect for any cryptocurrency hardware wallet, it is certainly one of the main factors in the analysis.
CoolWallet S allows users to store six major cryptocurrencies-Bitcoin, Bitcoin Cash, Ethereum, ERC 20 tokens (those based on the Ethereum network – BitDegree BDG tokens are also supported on the wallet!), Litecoin, and Ripple. Despite the fact that this is a relatively small number of currencies, the wallet covers the main coins of the crypto market.
In addition to the main cryptocurrencies, Ledger Nano S also supports several different cryptocurrencies. If you want to store a cryptocurrency that is not widely known or widely distributed, Ledger may be suitable for you.
As with Ledger, Trezor supports a wide range of altcoins, including the main ones mentioned earlier. The fact that Trezor allows users to store coins such as Dash, NETM, ETH Classic and Dogecoin makes It a very attractive device for enthusiasts.
Advantages and disadvantages
Finally, let’s briefly review the comparison of CoolWallet s crypto wallets with Ledger Nano S and Trezor, highlighting the pros and cons of each of the wallets.
Convenient for beginners – easy to use
Without open source code
Support for only a few major currencies
Ledger Nano S
Supports a wide variety of cryptocurrencies
Supports integration with multiple hot wallets
Excellent value for money.
The design is worse than CoolWallet S
It may be a little difficult to set up
Touch screen only with navigation capability
So, we’ve come to the end of our review of CoolWallet s wallet with Ledger Nano S and Trezor.
As you can probably tell for yourself, each wallet that we have reviewed in this lesson has its pros and cons. Depending on the wishes and needs of people, everyone can find a suitable wallet where to store cryptocurrency.
This article was not intended to encourage you to buy one or the other. Rather, I wanted to highlight some of the features of each of the wallets and let you decide which, in your opinion, is the best hardware wallet to use.
I hope this article was useful for you. Good luck to all your endeavors!