Trezor vs Foundation Passport — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Trezor scores 6.1 vs Foundation Passport's 5.6. Trezor leads in 4 of 8 categories.

Trezor is better suited for Open-source advocates, Privacy-focused users, Long-term holders. Foundation Passport is better suited for Design-conscious Bitcoiners, Air-gap enthusiasts, Open-source advocates.

6.1

FairCustody Score

Trezor

5.6

Below AverageCustody Score

Foundation Passport

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Trezor	Foundation Passport	Winner
Security	20%	8.5	9.0	Foundation Passport
Insurance	15%	1.0	1.0	Tie
Regulatory	15%	2.0	1.0	Trezor
Fee Transparency	10%	9.5	9.0	Trezor
Track Record	15%	9.0	6.5	Trezor
Withdrawal Flexibility	10%	9.5	9.0	Trezor
Reporting & Audit	10%	2.0	2.0	Tie
Counterparty Diversification	5%	9.0	9.5	Foundation Passport
Overall Score	100%	6.1	5.6	Trezor

Visual

Score Radar

Visual overlay of Trezor and Foundation Passport across all categories.

TrezorFoundation Passport

Deep Dive

Category-by-Category Analysis

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

Security (8.5 vs 9.0)

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..

Foundation Passport uses Air-gapped hardware wallet with camera key management with 100% in cold storage and regular penetration testing. Compliance: Open-source audited. 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.

Foundation Passport 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.

Foundation Passport holds N/A — hardware manufacturer and is not a qualified custodian operating in United States. Foundation Devices Inc. US-based open-source hardware company.

Fee Transparency (9.5 vs 9.0)

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

Foundation Passport charges None in annual custody fees with Network fees only per transaction. Premium device. Air-gapped via QR codes and microSD.

Track Record (9.0 vs 6.5)

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..

Foundation Passport was founded in 2020 and is headquartered in Boston, MA. 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.

Foundation Passport withdrawal fees: Network fees only. Minimum account: ~$199 (Passport). Supported assets: Bitcoin only.

Reporting & Audit (2.0 vs 2.0)

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

Foundation Passport: SOC compliance is Open-source audited. 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..

Foundation Passport is a cold storage / hardware provider. Key management: Air-gapped Bitcoin wallet with camera for QR code scanning. Open-source hardware..

Fees

Fee Comparison

Side-by-side fee breakdown for Trezor and Foundation Passport.

Fee Type	Trezor	Foundation Passport
Setup Fee	$69-$219 (device purchase)	$199 (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.

Foundation Passport: Premium device. Air-gapped via QR codes and microSD.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Trezor	Foundation Passport
Air-gapped QR scanning	✗	✓
Camera-based signing	✗	✓
Coin control	✓	✗
Envoy companion app	✗	✓
Fully open-source	✓	✗
MicroSD backup	✗	✓
Open-source hardware + firmware	✗	✓
Premium build quality	✗	✓
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

Foundation Passport is better if you…

✓Are a design-conscious bitcoiners
✓Are a air-gap enthusiasts
✓Are a open-source advocates
✓Are a us-made seekers
✓Want: Beautiful premium design
✓Want: Truly air-gapped with QR camera
✓Want: Open-source hardware AND firmware

FAQ

Frequently Asked Questions

Is Trezor or Foundation Passport better for Bitcoin custody?

Trezor scores 6.1 vs 5.6 in our weighted Custody Score. Trezor leads in 4 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 Foundation Passport suits Design-conscious Bitcoiners and Air-gap enthusiasts.

What is the difference between Trezor and Foundation Passport?

Trezor is a cold storage / hardware provider, while Foundation Passport is a cold storage / hardware provider. Trezor excels in Fee Transparency, whereas Foundation Passport is strongest in Counterparty Diversification.

How do Trezor and Foundation Passport fees compare?

Trezor charges None annual custody fees with Network fees only transaction fees. Foundation Passport charges None annual custody fees with Network fees only transaction fees.

Which is more secure, Trezor or Foundation Passport?

Trezor scores 8.5/10 for security while Foundation Passport scores 9.0/10. Trezor uses Open-source hardware wallet key management, and Foundation Passport uses Air-gapped hardware wallet with camera.