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Hardware wallet comparison

Trezor One vs Ledger Nano S Plus: Original Open-Source vs Secure-Element Refresh

Both are budget wallets within $10 of each other. Trezor One ($69) is the original 2014 hardware wallet — fully open-source, no secure element, two-button input. Ledger Nano S Plus ($79) is Ledger's refreshed budget device with a secure element chip, USB-C, and more storage. The choice comes down to security philosophy.

Published: May 18, 2026Updated: March 22, 2026By Kevin Kinnett
Open-source vs secure elementAge and track recordSupported coinsEcosystem

Trezor

Trezor One

4.4 Editorial score

Price

$69

Profile

More open-source

Ledger

Ledger Nano S Plus

4.5 Editorial score

Price

$79

Profile

More secure-chip focused

Decision table

Side-by-side security posture

Device ModelTrezor OneLedger Nano S Plus
Price$69$79
Security Rating
Secure Element
Open Source
Multisig
ConnectivityUSB-CUSB-C
Supported AssetsBTC, ETH, LTC...BTC, ETH, LTC...
Warranty2 years2 years
Trezor

Trezor One

Open source

Pros

  • Most affordable option from Trezor
  • Fully open-source
  • Proven track record since 2014
  • Simple and reliable
  • Active community support

Trade-offs

  • No secure element
  • Small screen
  • No touchscreen
  • Button interface less intuitive
  • Physical extraction vulnerability
Ledger

Ledger Nano S Plus

Secure element

Pros

  • Affordable entry point
  • Secure element chip
  • Larger screen than Nano S
  • More storage than original
  • No Bluetooth complexity

Trade-offs

  • Closed-source firmware
  • No Bluetooth
  • Button interface only
  • Less portable than Nano X
  • Limited screen size
Who should choose which

Bottom line

Pick the Nano S Plus if you want chip-level secure-element security and use Ledger Live. Pick the Trezor One if you want the most established open-source code base in the category and don't mind the older two-button UX.

FAQ

Which is better: Trezor One or Ledger Nano S Plus?

Pick the Nano S Plus if you want chip-level secure-element security and use Ledger Live. Pick the Trezor One if you want the most established open-source code base in the category and don't mind the older two-button UX.

FAQ

What's the price difference between Trezor One and Ledger Nano S Plus?

The Trezor One costs $69, while the Ledger Nano S Plus costs $79. That's a difference of $10.