Trezor vs Coldcard — Head-to-Head Custody Comparison

An independent, data-driven comparison of Trezor and Coldcard across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Trezor scores 6.1 vs Coldcard's 5.9. Trezor leads in 3 of 8 categories.

Trezor is better suited for Open-source advocates, Privacy-focused users, Long-term holders. Coldcard is better suited for Bitcoin maximalists, Security experts, Air-gap enthusiasts.

6.1

FairCustody Score

Trezor

5.9

Below AverageCustody Score

Coldcard

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Trezor	Coldcard	Winner
Security	20%	8.5	9.5	Coldcard
Insurance	15%	1.0	1.0	Tie
Regulatory	15%	2.0	1.0	Trezor
Fee Transparency	10%	9.5	9.5	Tie
Track Record	15%	9.0	8.0	Trezor
Withdrawal Flexibility	10%	9.5	9.0	Trezor
Reporting & Audit	10%	2.0	2.0	Tie
Counterparty Diversification	5%	9.0	9.5	Coldcard
Overall Score	100%	6.1	5.9	Trezor

Visual

Score Radar

Visual overlay of Trezor and Coldcard across all categories.

TrezorColdcard

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (8.5 vs 9.5)

Trezor uses Open-source hardware wallet key management with 100% in cold storage and regular penetration testing. Compliance: Open-source audited. Incident history: Physical extraction vulnerability (patched). No remote compromises..

Coldcard uses Air-gapped hardware wallet with secure element key management with 100% in cold storage and regular penetration testing. Compliance: N/A. Incident history: No known compromises.

Insurance (1.0 vs 1.0)

Trezor offers None — self-custody hardware via N/A. Hardware wallet. Full user responsibility.

Coldcard offers None — self-custody hardware via N/A. Hardware wallet. Full user responsibility.

Regulatory (2.0 vs 1.0)

Trezor holds N/A — hardware manufacturer and is not a qualified custodian operating in Czech Republic (EU). SatoshiLabs — consumer electronics.

Coldcard holds N/A — hardware manufacturer and is not a qualified custodian operating in Canada. Coinkite Inc. Bitcoin-focused hardware company.

Fee Transparency (9.5 vs 9.5)

Trezor charges None in annual custody fees with Network fees only per transaction. One-time purchase. Fully open-source. Free Trezor Suite software.

Coldcard charges None in annual custody fees with Network fees only per transaction. Bitcoin-only by design. Air-gapped signing via microSD.

Track Record (9.0 vs 8.0)

Trezor was founded in 2013 and is headquartered in Prague, Czech Republic. AUM: N/A (hardware manufacturer). Incident history: Physical extraction vulnerability (patched). No remote compromises..

Coldcard was founded in 2018 and is headquartered in Toronto, Canada. AUM: N/A (hardware manufacturer). Incident history: No known compromises.

Withdrawal Flexibility (9.5 vs 9.0)

Trezor withdrawal fees: Network fees only. Minimum account: ~$69 (Model One) / ~$219 (Model T) / ~$169 (Safe 3). Supported assets: Bitcoin, Ethereum, 1,800+ cryptocurrencies.

Coldcard withdrawal fees: Network fees only. Minimum account: ~$148 (Mk4) / ~$99 (Q1). Supported assets: Bitcoin only.

Reporting & Audit (2.0 vs 2.0)

Trezor: SOC compliance is Open-source audited. Not classified as a qualified custodian.

Coldcard: SOC compliance is N/A. Not classified as a qualified custodian.

Counterparty Diversification (9.0 vs 9.5)

Trezor is a cold storage / hardware provider. Key management: Open-source hardware wallet. Keys stored on device. Trezor Suite for management..

Coldcard is a cold storage / hardware provider. Key management: Air-gapped Bitcoin-only hardware wallet. Secure element. MicroSD transaction signing..

Fees

Fee Comparison

Side-by-side fee breakdown for Trezor and Coldcard.

Fee Type	Trezor	Coldcard
Setup Fee	$69-$219 (device purchase)	$99-$148 (device purchase)
Annual Custody	None	None
Transaction	Network fees only	Network fees only
Withdrawal	Network fees only	Network fees only

Trezor: One-time purchase. Fully open-source. Free Trezor Suite software.

Coldcard: Bitcoin-only by design. Air-gapped signing via microSD.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Trezor	Coldcard
Air-gapped operation	✗	✓
Coin control	✓	✗
Dice roll entropy	✗	✓
Duress PIN	✗	✓
Fully open-source	✓	✗
Multisig native	✗	✓
PSBT support	✗	✓
Secure element	✗	✓
Shamir backup (SLIP39)	✓	✗
Tor integration	✓	✗
Touchscreen (Model T)	✓	✗
Trezor Suite desktop app	✓	✗

Recommendation

Who Should Choose Which?

Trezor is better if you…

✓Are a open-source advocates
✓Are a privacy-focused users
✓Are a long-term holders
✓Are a technically-inclined users
✓Want: First hardware wallet — longest track record
✓Want: Fully open-source firmware and software
✓Want: Shamir backup for better key security

Coldcard is better if you…

✓Are a bitcoin maximalists
✓Are a security experts
✓Are a air-gap enthusiasts
✓Are a advanced users
✓Want: Gold standard for Bitcoin hardware security
✓Want: True air-gapped operation
✓Want: Duress PIN and security features

FAQ

Frequently Asked Questions

Is Trezor or Coldcard better for Bitcoin custody?

Trezor scores 6.1 vs 5.9 in our weighted Custody Score. Trezor leads in 3 of 8 scoring categories. However, the best choice depends on your specific needs: Trezor is best for Open-source advocates and Privacy-focused users, while Coldcard suits Bitcoin maximalists and Security experts.

What is the difference between Trezor and Coldcard?

Trezor is a cold storage / hardware provider, while Coldcard is a cold storage / hardware provider. Trezor excels in Fee Transparency, whereas Coldcard is strongest in Security.

How do Trezor and Coldcard fees compare?

Trezor charges None annual custody fees with Network fees only transaction fees. Coldcard charges None annual custody fees with Network fees only transaction fees.

Which is more secure, Trezor or Coldcard?

Trezor scores 8.5/10 for security while Coldcard scores 9.5/10. Trezor uses Open-source hardware wallet key management, and Coldcard uses Air-gapped hardware wallet with secure element.