Trezor Model T Vs Ledger Nano S Plus: Which Is Better For Canadians In 2026?

How Do The Trezor Model T And Ledger Nano S Plus Compare, Spec By Spec?

Every row comes from the makers’ own pages and published security records, checked October 2026. Where there is no fair winner, the row says so.

What Happens If You Lose Your Trezor Model T Or Ledger Nano S Plus?

Trezor Model T: Your coins are recorded on the blockchain, not stored inside the device. Recovery depends on the backup: 12-, 20- and 24-word backup; Advanced multi-share backup (Shamir); 2 wallet backup cards. Keep that backup offline and never type it into a website or app. 6 security issues are on record for the maker, the latest on 2026-09-09 (Brevo newsletter provider breach, phishing from Trezor's address).

Ledger Nano S Plus: Your coins are recorded on the blockchain, not stored inside the device. Recovery depends on the backup: recovery sheets; optional Ledger Recover. Keep that backup offline and never type it into a website or app. 7 security issues are on record for the maker, the latest on 2026-08-27 (Security Bulletins 023, 024, 025: signing-review bypasses).

How Much Does It Cost To Get These Wallets To Canada?

CBSA courier thresholds: shipments from outside the US and Mexico are duty and tax free only up to CAD 20, and from the US or Mexico up to CAD 40, so expect taxes on any hardware wallet. Buy from the maker or an authorised reseller only.

Is The Trezor Model T Still Sold?

No. Trezor's product page says "The Trezor Model T is no longer sold" and names the Safe 5 as its successor. That changes how to read this comparison. You are not choosing between two shelf products. You are choosing between an older device you could only get second-hand and one Ledger still sells as a "Nano Classic". I will not link a buy button for the Model T.

Which Is More Secure, Trezor Model T Or Ledger Nano S Plus?

The Nano S Plus has an ST33K1M5 secure element (Common Criteria EAL6+). Trezor's page for the Model T states no secure element and says the Safe 5 "comes with a Secure Element chip", which implies the Model T has none. That is a real difference on paper. Trezor's current models are open source, though that is not stated on the Model T page. The Model T offers 12, 20 and 24 word backups, an Advanced Shamir multi-share option, PIN and passphrase protection and two backup cards.

The Model T's best-known weakness is documented. On January 31, 2020, Kraken Security Labs showed that with physical access and a voltage glitch of the microcontroller, the encrypted seed could be extracted in about 15 minutes from a Model One or Model T. Trezor said a passphrase fully protects against it and that the flaw is a chip limitation firmware cannot fix. So "is the Trezor Model T still safe?" depends on how you use it: with a strong passphrase, the Kraken attack does not help a thief. Without one, a stolen device is at risk.

On Ledger's side, the family record includes the 2020 shop database breach (about 1 million emails, and name, address and phone for roughly 272,000 customers), the 2023 Ledger Connect Kit supply-chain attack that hit dApp users and not hardware wallets, and the 2026 Security Bulletins covering signing-review bugs (August 27, 2026).

Which Is Easier To Use?

The Model T's colour touchscreen is easier than two buttons. The S Plus has the edge in connection: USB-C. Neither works well with an iPhone, since the S Plus has no iOS support at all and I could not source iOS support for the Model T. Is the Nano S Plus obsolete? Not by Ledger's own listing, but Ledger's newer Nano Gen5 sits above the Nano X in the lineup, and the S Plus is the oldest and cheapest of the screened range.

Which Supports More Coins?

Ledger lists 500+ coins directly in the Ledger Wallet app and thousands more via 50+ third-party wallets. I could not source a coin count for the Model T. Trezor generally supports thousands of coins and tokens, and I keep my own XRP on a Trezor Safe 7, not a Model T, so check the Model T's coin list before relying on it for anything except the biggest names.

Which Costs Less In Canada?

The Nano S Plus lists at $69 USD on Ledger's US shop, and Ledger runs a Canadian storefront with CA$ pricing and reseller shops (Canada Computers, Best Buy Canada, Amazon Canada). The Model T has no price because it is no longer sold. If you see one for sale, you are buying used or old stock, and the Canadian Anti-Fraud Centre's advice is to buy hardware wallets directly from the manufacturer, since a tampered device can be pre-loaded with a seed. If you want a new Trezor, the Safe 5 replaced the Model T: my Trezor Safe 5 link. For the Nano S Plus, use my Ledger link.

How Do They Work With Canadian Exchanges?

Either device just provides addresses. Coinbase and NDAX ask whether you are sending to yourself, and NDAX's Travel Rule prompt starts above CAD 1,000. Wealthsimple allows external wallet withdrawals after a selfie ID check. The CRA does not treat transfers between your own wallets as a disposition.

Which Should You Choose?

Choose the Nano S Plus if you want a cheap, still-sold device with a secure element and a Canadian retailer, and use a computer or Android. Choose neither and buy a Safe 5 if you liked the Model T: it replaced it, adds a secure element and is covered by my Safe 5 review. I also kept a page on the Model T for owners. If you already have a Model T, use a passphrase and keep it. Related: Model T vs Nano X and best crypto wallets in Canada.