Ledger vs SeedSigner — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Ledger scores 6.1 vs SeedSigner's 5.4. Ledger leads in 5 of 8 categories.

Ledger is better suited for Individual holders, Long-term HODLers, Privacy-focused users. SeedSigner is better suited for DIY enthusiasts, Cypherpunks, Security researchers.

6.1

FairCustody Score

Ledger

5.4

Below AverageCustody Score

SeedSigner

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Ledger	SeedSigner	Winner
Security	20%	9.0	8.5	Ledger
Insurance	15%	1.0	1.0	Tie
Regulatory	15%	2.0	1.0	Ledger
Fee Transparency	10%	9.5	10.0	SeedSigner
Track Record	15%	8.5	6.0	Ledger
Withdrawal Flexibility	10%	9.5	8.5	Ledger
Reporting & Audit	10%	2.0	1.0	Ledger
Counterparty Diversification	5%	9.0	10.0	SeedSigner
Overall Score	100%	6.1	5.4	Ledger

Visual

Score Radar

Visual overlay of Ledger and SeedSigner across all categories.

LedgerSeedSigner

Deep Dive

Category-by-Category Analysis

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

Security (9.0 vs 8.5)

Ledger uses Secure element hardware wallet key management with 100% in cold storage and regular penetration testing. Compliance: ANSSI certified. Incident history: 2020 customer database leak (not keys). No key compromises..

SeedSigner uses Stateless signing device key management with 100% (stateless) in cold storage and no confirmed penetration testing. Compliance: N/A. Incident history: No known compromises.

Insurance (1.0 vs 1.0)

Ledger offers None — self-custody hardware via N/A. Hardware wallet. Users are fully responsible for their own security and backup.

SeedSigner offers None — DIY self-custody via N/A. DIY project. No company behind it. No insurance possible.

Regulatory (2.0 vs 1.0)

Ledger holds N/A — hardware manufacturer and is not a qualified custodian operating in France (EU). Consumer electronics company. ANSSI certified secure element.

SeedSigner holds N/A — open-source project and is not a qualified custodian operating in Decentralized / Open Source. Community-driven open-source project. No company.

Fee Transparency (9.5 vs 10.0)

Ledger charges None in annual custody fees with Network fees only per transaction. One-time device cost. No ongoing fees. Free Ledger Live software.

SeedSigner charges None in annual custody fees with Network fees only per transaction. Build it yourself from off-the-shelf components. Truly zero trust.

Track Record (8.5 vs 6.0)

Ledger was founded in 2014 and is headquartered in Paris, France. AUM: N/A (hardware manufacturer). Incident history: 2020 customer database leak (not keys). No key compromises..

SeedSigner was founded in 2021 and is headquartered in Open Source. AUM: N/A (DIY project). Incident history: No known compromises.

Withdrawal Flexibility (9.5 vs 8.5)

Ledger withdrawal fees: Network fees only. Minimum account: ~$79 (Nano S Plus) / ~$149 (Nano X). Supported assets: Bitcoin, Ethereum, 5,500+ cryptocurrencies.

SeedSigner withdrawal fees: Network fees only. Minimum account: ~$50 (components). Supported assets: Bitcoin only.

Reporting & Audit (2.0 vs 1.0)

Ledger: SOC compliance is ANSSI certified. Not classified as a qualified custodian.

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

Counterparty Diversification (9.0 vs 10.0)

Ledger is a cold storage / hardware provider. Key management: Hardware wallet with secure element chip. Keys never leave the device. Companion app Ledger Live for management..

SeedSigner is a cold storage / hardware provider. Key management: DIY stateless signing device. Never stores keys. Camera-based QR code signing. Built from Raspberry Pi Zero..

Fees

Fee Comparison

Side-by-side fee breakdown for Ledger and SeedSigner.

Fee Type	Ledger	SeedSigner
Setup Fee	$79-$149 (device purchase)	~$50 (Raspberry Pi Zero + camera + screen)
Annual Custody	None	None
Transaction	Network fees only	Network fees only
Withdrawal	Network fees only	Network fees only

Ledger: One-time device cost. No ongoing fees. Free Ledger Live software.

SeedSigner: Build it yourself from off-the-shelf components. Truly zero trust.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Ledger	SeedSigner
5,500+ asset support	✓	✗
Bluetooth (Nano X)	✓	✗
Camera-based QR signing	✗	✓
DIY from off-the-shelf parts	✗	✓
Dice roll entropy	✗	✓
Fully open-source	✗	✓
Ledger Live management app	✓	✗
NFT management	✓	✗
Secure element chip	✓	✗
Staking support	✓	✗
Stateless — never stores keys	✗	✓
Zero supply chain trust required	✗	✓

Recommendation

Who Should Choose Which?

Ledger is better if you…

✓Are a individual holders
✓Are a long-term hodlers
✓Are a privacy-focused users
✓Are a beginners to self-custody
✓Want: World's most popular hardware wallet
✓Want: Secure element chip — bank-grade security
✓Want: 5,500+ supported assets

SeedSigner is better if you…

✓Are a diy enthusiasts
✓Are a cypherpunks
✓Are a security researchers
✓Are a ultra-paranoid bitcoiners
✓Want: Stateless — keys never stored on device
✓Want: Build from off-the-shelf components
✓Want: Zero supply chain attack surface

FAQ

Frequently Asked Questions

Is Ledger or SeedSigner better for Bitcoin custody?

Ledger scores 6.1 vs 5.4 in our weighted Custody Score. Ledger leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Ledger is best for Individual holders and Long-term HODLers, while SeedSigner suits DIY enthusiasts and Cypherpunks.

What is the difference between Ledger and SeedSigner?

Ledger is a cold storage / hardware provider, while SeedSigner is a cold storage / hardware provider. Ledger excels in Fee Transparency, whereas SeedSigner is strongest in Fee Transparency.

How do Ledger and SeedSigner fees compare?

Ledger charges None annual custody fees with Network fees only transaction fees. SeedSigner charges None annual custody fees with Network fees only transaction fees.

Which is more secure, Ledger or SeedSigner?

Ledger scores 9.0/10 for security while SeedSigner scores 8.5/10. Ledger uses Secure element hardware wallet key management, and SeedSigner uses Stateless signing device.