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Coldcard vs Ledger Nano S Plus

Comparing
two wallets
Decided by
Editorial rating
Last reviewed
2026-08-26
Coldcard3.4Bitcoin-onlyWarning

Bitcoin-only air-gapped signer whose seed generation was weakened by a build error from March 2021 until fixed firmware landed on July 31, 2026.

Ledger Nano S Plus4.3

Ledger's $59 entry device: the same certified secure element as the $399 Stax, no Bluetooth, and no iPhone support at all.

Verdict: Ledger Nano S Plus

Ledger Nano S Plus rates higher on our rubric: 4.3 against 3.4 for Coldcard.

Criterion
Editorial rating
Coldcard
3.4
Ledger Nano S Plus
4.3

Coldcard and Ledger Nano S Plus, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Coldcard and Ledger Nano S Plus compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactColdcardLedger Nano S Plus
Editorial rating3.44.3 (favoured on this row)
StatusCaution: see the reviewAvailable
Made byCoinkiteLedger
Price$189$59
Who holds the keysself-custodial, keys held behind two secure elements from different vendors, signing air-gapped by choiceself-custodial, keys held in a CC EAL6+ certified secure element chip
Bitcoin-onlyYesNo
Runs onWindows, macOS, LinuxAndroid, Windows, macOS, Linux
ScreenQ: 3.2 inch LCD with a full keyboard. Mk5: bright OLED with a numeric keypad1.1 inch monochrome OLED, 128 x 64 pixels, with two physical buttons
ConnectivityUSB-C, microSD, NFC, QR scanner on the Q and a virtual disk mode, every path off by defaultUSB-C only, for desktop and Android use; no Bluetooth and no battery
ReleasedCoinkite has made Coldcard since 2017; the Q and the Mk5 are the current models2022
Countries on the maker's listNo published list218
Last reviewed2026-08-252026-08-26

Pros and cons, side by side

Coldcard

What works

  • Bitcoin only, which keeps every other chain's parsing code off the device
  • Two secure elements from independent vendors, so one chip flaw is not enough
  • Air-gapped signing over QR, microSD, NFC or virtual disk, with all data paths disabled by default
  • Reproducible open source firmware that advanced users can build and verify themselves
  • Duress PIN, brick PIN and login countdown for coercion scenarios
  • Coinkite's advisory published the technical cause, the entropy estimates and step by step migration instructions

What to watch

  • A March 2021 build error weakened seed generation for over five years, and updating the firmware does not repair an affected seed
  • Migrating means generating a new seed and moving every coin, which costs an on-chain transaction and real care
  • Coinkite publishes no loss total, so the scale rests on outside estimates from TRM Labs and Galaxy Research
  • Steeper learning curve than a Ledger or a Trezor, with no companion app of its own
  • Coinkite publishes no shipping country policy at all

Ledger Nano S Plus

What works

  • Cheapest current Ledger at $59 on Ledger's own store
  • Same ST33K1M5 secure element, certified to CC EAL6+, as the $399 Stax
  • Far more coin app storage than the original Nano S it replaced
  • No Bluetooth and no battery, so there is no radio attack surface and nothing to wear out

What to watch

  • No iOS support: Ledger's system requirements list Windows, macOS, Ubuntu and Android only
  • Cable only, so you cannot sign from a phone without plugging in
  • The 128 x 64 pixel screen turns checking a long address into a multi step scroll
  • Closed source firmware, unlike Trezor and BitBox

Frequently asked questions

Is Coldcard or Ledger Nano S Plus better?

Ledger Nano S Plus rates higher on our rubric: 4.3 against 3.4 for Coldcard. The rating follows the product rubric published on our about page; the rows above set custody, price and platforms side by side so you can check it.

Which is cheaper, Coldcard or Ledger Nano S Plus?

Ledger Nano S Plus, at $59 against $189, on each maker's own store price as of the review date.

Is Coldcard or Ledger Nano S Plus bitcoin-only?

Coldcard is bitcoin-only; Ledger Nano S Plus supports other assets too. Bitcoin plus more than 500 assets in the Ledger Wallet app, and thousands more through third party wallets

Does Coldcard or Ledger Nano S Plus carry a warning?

Coldcard: A build error introduced in a March 2021 firmware migration left seed generation drawing on a software pseudorandom number generator instead of the hardware one, and attackers found it before Coinkite did. Coinkite published fixed firmware for every affected model and updated its advisory on August 1, 2026, but updating does not repair a seed already generated on affected firmware: those owners have to create a new seed and move their coins.

The full reviews: Coldcard and Ledger Nano S Plus, each with its sources, and every wallet we review.

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