Ledger
Cold Storage / HardwareLedger is the world's leading hardware wallet manufacturer. The Nano S Plus and Nano X devices use secure element chips to protect private keys offline. Over 6 million devices sold globally. Supports 5,500+ cryptocurrencies through Ledger Live.
Quick Verdict
With a Custody Score of 6.1/10, Ledger is ranked #1 of 7 among cold storage / hardware providers. Its strongest category is Fee Transparency and its weakest is Insurance.
Analysis
Score Breakdown
The Custody Score is a weighted average across 8 criteria, each rated 1-10.
| Criterion | Score | Weight | Weighted |
|---|---|---|---|
| Security | 9 | 20% | 1.80 |
| Insurance | 1 | 15% | 0.15 |
| Regulatory | 2 | 15% | 0.30 |
| Fee Transparency | 9.5 | 10% | 0.95 |
| Track Record | 8.5 | 15% | 1.27 |
| Withdrawal Flexibility | 9.5 | 10% | 0.95 |
| Reporting & Audit | 2 | 10% | 0.20 |
| Counterparty Diversification | 9 | 5% | 0.45 |
| Total | 100% | 6.1 |
Key Features
- ✓Secure element chip
- ✓5,500+ asset support
- ✓Ledger Live management app
- ✓Bluetooth (Nano X)
- ✓Staking support
- ✓NFT management
Fee Breakdown
| Setup Fee | $79-$149 (device purchase) |
| Annual Custody Fee | None |
| Transaction Fee | Network fees only |
| Withdrawal Fee | Network fees only |
| Notes | One-time device cost. No ongoing fees. Free Ledger Live software. |
Security Details
Key Management
Secure element hardware wallet
Cold Storage
100%
SOC Compliance
ANSSI certified
Penetration Testing
Yes
Incident History: 2020 customer database leak (not keys). No key compromises.
Insurance Coverage
Coverage
None — self-custody hardware
Carrier
N/A
Details
Hardware wallet. Users are fully responsible for their own security and backup.
Regulatory Status
Licenses
- N/A — hardware manufacturer
Consumer electronics company. ANSSI certified secure element.
Pros & Cons
Pros
- World's most popular hardware wallet
- Secure element chip — bank-grade security
- 5,500+ supported assets
- Ledger Live ecosystem
- Bluetooth connectivity (Nano X)
Cons
- 2020 customer data breach
- Closed-source firmware
- Seed phrase backup responsibility
- Physical device can be lost
- Ledger Recover controversy
How Ledger Compares
Top cold storage / hardware providers ranked by Custody Score.
| Provider | Custody Score | Compare |
|---|---|---|
| Trezor | 6.1 | Compare → |
| Coldcard | 5.9 | Compare → |
| BitBox02 | 5.9 | Compare → |
| Foundation Passport | 5.6 | Compare → |
| Blockstream Jade | 5.4 | Compare → |