Ledger
score
Fees: one-time device purchase; free Ledger Live app
A strong pick for mainstream users who want the broadest coin support and the most refined app experience. The caveat is closed-source firmware plus the Recover controversy, which mean you are trusting Ledger's word rather than verifiable code.
What Ledger is
Ledger is a French company, founded in 2014, that makes some of the most widely sold hardware wallets in the world. Its devices store your private keys on a certified secure-element chip and pair with Ledger Live, a polished desktop and mobile app that handles setup, staking, swaps and portfolio tracking. The keys are meant to stay on the device, with every transaction confirmed on its small screen before it is broadcast.
Strengths on the scorecard
Ledger tops our security-model criterion at 9, backed by a CC EAL5+/6+ secure element and a strong record against physical extraction. Supported assets lead the field at 9.5, with thousands of coins and tokens plus deep DeFi and Web3 integration, and the app scores 9 for its refined, feature-rich experience. Those numbers are why Ledger remains a default recommendation for mainstream users despite the reservation below.
Costs
Like its peers, Ledger is a one-time device purchase and Ledger Live is free, giving it a solid 8 on value. There are several models at different price points, and the app's built-in swap and staking features are convenient though the underlying third-party services carry their own fees, which you should read before using.
The transparency problem
Our lowest mark for Ledger is transparency at 5, and it is the reason the overall score is not higher. The firmware and secure-element code are closed-source, so you are trusting Ledger rather than verifiable code. That trust took two hits: a 2020 e-commerce breach that exposed customer names and addresses, and the later Ledger Recover key-shard service, which convinced many users that seed material could in principle leave the device and badly damaged confidence in the model.
Who it fits
For mainstream holders who want the broadest coin support and the smoothest app, Ledger is hard to beat on features. If verifiable open-source firmware is your top priority, you will be more comfortable elsewhere. None of this is financial advice; weigh the polish against the trust question and decide what matters most for your own holdings.
Overall 8.4 / 10 — the weighted average of the criteria above. How we score →
- + Certified secure element (CC EAL5+/6+) with a strong record against physical extraction
- + Widest asset support of any wallet, thousands of coins and tokens
- + Polished Ledger Live app with staking, swaps and portfolio tracking
- + Broad third-party integration across DeFi and Web3
- − Firmware and secure-element code are closed-source, so users must trust Ledger
- − 2020 e-commerce customer-data breach exposed names and addresses
- − The 'Ledger Recover' key-shard service badly damaged trust in the security model
Is Ledger safe after the breaches?
+
Ledger's hardware security remains strong, with a certified secure element that scores 9 on our security model and a good record against physical extraction. What took damage was trust, not the chip: the 2020 data breach exposed customer contact details, and the Ledger Recover service raised questions about the model. Your keys on the device are still well protected.
What is Ledger Recover and is it a problem?
+
Ledger Recover is an optional service that can back up your seed as encrypted shards with third parties. Many users objected because it suggested seed material could in principle leave the device, which contradicted long-standing assurances. It is opt-in, but it is the main reason our transparency score is only 5.
How many coins does Ledger support?
+
Ledger has the widest asset support of any wallet we rate, scoring 9.5, covering thousands of coins and tokens plus extensive DeFi and Web3 integrations through Ledger Live and third-party apps.
What does Ledger cost?
+
The device is a one-time purchase and Ledger Live is free. Several models sit at different price points. The app's swap and staking features are convenient, but the third-party services behind them charge their own fees.
Is Ledger's firmware open-source?
+
No. The firmware and secure-element code are closed-source, so you are trusting Ledger rather than auditable code. If open-source verifiability is your priority, a wallet like Trezor or BitBox02 will suit you better.