Major hardware crypto wallet providers Ledger and Trezor have both released new wallet iterations, giving users additional options to safeguard their assets through self-custody.
Paris-based Ledger introduced its latest device, the Ledger Nano Gen5, on Thursday. In a notable shift, the company has dropped the term “hardware wallet” entirely, now referring to all its devices as “Ledger signers.”
Rival hardware wallet company Trezor, based in Prague, also released its Trezor Safe 7 earlier this week, describing the device as its first quantum-ready hardware wallet.
As both Ledger and Trezor have been supplying self-custody devices for over a decade, Cointelegraph took a closer look at their latest wallets, breaking down the key updates, new features and security enhancements.
The Era of Ledger Signers
The Ledger update brings multiple brand novelties, including rebranding the Ledger Live application as Ledger Wallet and introducing Ledger Multisig, a tool to address the blind signing vulnerability in the multisig ecosystem.
The new Ledger signer — the Nano Gen5 — features the June-released Ledger Recovery Key, previously-supported Bluetooth connection and a bigger screen. The device is priced at $179 in the US and 179 euros in Europe.
“Ledger Nano brings the improved user experience from our secure touchscreen signers, Ledger Flex and Ledger Stax, in a more affordable package,” a Ledger spokesperson told Cointelegraph.
“The bigger screen vs the Nano S Plus and Nano X enables a more intuitive interface, as well as optimal support for clear signing and transaction check,” the representative added.
Continuing its Apple-inspired design approach, Ledger’s new device development again enlisted iPod creator Tony Fadell, who brought in Apple icon designer Susan Kare to craft exclusive badge artwork for the new Ledger signer.
Safe 7 is Trezor’s First Quantum-Ready Wallet
Trezor’s new Safe 7 introduces a next-generation hardware wallet featuring dual secure elements, Bluetooth, wireless charging and a quantum-ready design.
The dual-chip design combines Tropic Square’s auditable TROPIC01 chip with an NDA-free EAL6+ secondary element, while the addition of Bluetooth makes the Safe 7 the first Trezor wallet capable of connecting wirelessly to iPhones and other devices. The wallet is priced at 249 euros.
The “quantum-readiness” of the Trezor Safe 7 means that the device is “technically capable of receiving post-quantum updates when the time comes,” Trezor’s chief operating officer, Danny Sanders, told Cointelegraph.
“Previous Trezor wallets, like all devices currently on the market, do not include quantum-ready architecture,” Sanders said, highlighting Trezor’s aspiration to bring a new meaning to hardware wallets being “built to last.”
Quantum computing is still in its very early stages, he added, predicting that it would take a long time before it poses “any real threat to existing cryptographic standards.”
Are Older Devices Being Phased Out?
Despite both Ledger and Trezor introducing significant updates to their self-custody technology, their previous wallets are still functional.
“We don’t design wallets with the expectation that users will collect them all,” Trezor’s Sanders said, highlighting the need to meet the diverse needs of users as the company’s main priority.
Sanders said all Trezor wallets are fully supported and continue to benefit from ongoing security updates and enhancements.
“Ledger has never released an update that makes any older device obsolete,” a spokesperson for Ledger told Cointelegraph, adding that “there’s always a point where it’s no longer feasible to provide updates and support new features for older products.”