Ledger Nano, TREZOR And The Cost Of Some Worrying News

Most of those who are active in the crypto world and have some skin in the game are concerned about safety. I'm not that big yet but still concerned about the safety of my existing and future investments, so I started looking into cold wallet options a couple of weeks ago. I'm not in a rush as this is not a decision to make in two seconds. The wrong decision could lead to me losing not only the money invested in buying the device but also what's going to be stored in it.

A simple search leads you to a few options, among which the most common are Ledger Nano S, Ledger Nano X, TREZOR One, TREZOR T and BC Vault.

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Knowing about the Ledger data breach in July 2020 and the dump of the content of a Ledger customer database on Raidforum in December 2020, choosing Ledger looks a bit risky. I remember there have been a few posts on Leofinance about wallets but I can't remember by whom. I wish I would have paid more attention but it's never too late.

However, if you want real feedback about these cold wallets, I think Reddit is the place to look around. I've seen a bunch of posts there and will dedicate the time to read what it is available there. I don't trust centralized platforms where feedback can be manipulated according to their interest. This is too important, it's not something you decide in two minutes and buy another one if you don't like it.

After looking around on the domestic market I was able to find one offer for Nano S and another one for Nano X, no TREZOR I could find available.

The interesting thing was the price of the Ledger Nano S. The original price was around $450, to that was applied a 72% discount, so the final price was below $100. Anyone who runs a search knows $450 for a gadget as old as Nano S (yes, old as these days when a new version is out, the previous one becomes old), a price like that can mean two things.

1. The item was acquired by the store a very long time ago, when the price was indeed that high and sitting on the shelf ever since.
2. It's a marketing scam to trick people to see the high discount instead of judging the price, which is forbidden and punishable by law.

The Ledger Nano X at that time was around $140 and no discount available. I was in no hurry as this is not a decision you make without a thorough research, so after two days the 2 available Ledger Nano S were sold out and when the product was available again, the price changed to approximately $100 and again were only a few products available. Looks like people are buying wallets like crazy.

What was strange was a feedback about Ledger Nano S, a guy stating how satisfied he is with the product he's using for 2 years. This comment was left 2 days ago. I'm not sure the feedback was real of fake, created only to make people believe in the product.

No doubt the data breach has caused a lot of harm to the company and products as well. Is TREZOR safer? Who knows? Maybe tomorrow TREZOR will be the one hit by hackers. However this is only one aspect to consider. There are quite a few others like customer service that need to be taken into consideration.

Feel free to comment and share your experience, I'm sure I'm not the only one looking into options here. I'm thinking long term and also not only just the most commonly known ones are among those I'm interested in.

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