When it comes to become self-custody, many people wonder what hardware device to choose. In this series of articles, we’ll try to inform you as best we can in an unbiased way.
Ledger is the best-known hardware wallet solution in the crypto world, but is it the best solution for your situation and use?
It’s time to compare Satochip with existing Ledger solutions to find out which one might be right for you.
Let’s start with the elephant in the room: the price
Yes, Satochip is less expensive than any Ledger. The least expensive option offered by Ledger is the Nano S Plus, which still costs around $79. And if you want to take advantage of the Bluetooth option, the bill rises to $149.
Obviously, not all DeFi users have that kind of money to invest in a hardware wallet. But it’s important to establish good habits from the outset, so as not to take any risks when your wallet will be bigger.
Satochip offers you a smart card for 25€. If you don’t have a card reader, you can buy one right here for an additional 19.99€. The advantage of this solution is that you can use all our products with the same card reader.
So if you want to use Seedkeeper to back up your recovery seedphrases, you’ll only have to pay for the card, not the reader.
It’s also worth mentioning that Ledger Nano X is EAL5+ certified, whereas Satochip offers EAL6+ certification.
Durability
Success in crypto isn’t always about high-frequency trading and the use of complex strategies. For the average investor, long-term holding (hodl) can offer a considerable return on investment. To do this, however, you need to be able to rely on a solution for holding your cryptos that lasts over time.
A Ledger device is made up of a screen that can be damaged or fail, several buttons that can start to malfunction if they’re used too much, or too little, and the device’s built-in battery can also suffer from reduced efficiency as time goes by.
With Satochip, you can rest assured that your smartcard has none of these potentially fallible elements. No buttons, no screen, no battery, just a secure chip and a card that can stand the test of time for years to come.
Storing your hardware wallet
The higher the price of cryptocurrencies, the more prudent it is to be discreet.
And even if a Ledger looks like a USB stick, it’s not as easy to store on a day-to-day basis as a Satochip card, which can easily be slipped into your leather wallet, or anywhere else you deem secure enough to store it. It’s worth remembering, however, that whatever hardware wallet you use, simply having it stolen or lost does not give a third party access to your funds unless they also know the PIN code that unlocks your wallet.
In any case, we always recommend that you be as discreet as possible and not store your wallet in full view of the world. Which is why it’s certainly not a good idea to keep it around your neck or in your cap…
Ease of use
It would be wrong to say that using a Ledger is very complex. On the other hand, entering the PIN code can quickly prove tedious, using only the device’s two buttons. While the Ledger Stax will make the process easier, it’s a much more expensive solution (around €300) and won’t suit all users.
Similarly, validating transactions requires multiple presses of the device’s buttons, which can be tedious when validating multiple transactions, especially if you’re a DeFi user.
If you’re using your hardware wallet from your computer, Satochip lets you validate your transactions with a single click, and is compatible with Sparrow Wallet (for Bitcoin users) but also supports connection via the Wallet Connect protocol. You can also use your Satochip smartcard with Rabby Wallet to access all your favorite dApps.
You’ll find all the information and tutorials you need in the Satochip academy. Please note that a forthcoming software update will make the interface even clearer.
The Open Source approach
Unlike most of our competitors, we’re convinced that the Open Source approach is the one that best matches the spirit of Bitcoin and cryptos in general.
All our applications’ source code is available on our Github so that all our users can check that programs work as advertised. We have nothing to hide from you, and we’re convinced that full transparency is necessary for the wider adoption of crypto-assets.
Last but not least, Satochip does not collect your personal data and does not resell the data linked to your use of our software. On the other hand, we always welcome your feedback to improve the user experience and continue to offer you the best solution for storing and using your cryptos!
Join the Satochip Academy
If you’d like to take advantage of this cycle to develop your crypto knowledge or perfect your use of our tools, don’t hesitate to read the Satochip Academy🔗 articles.
