If you're holding significant cryptocurrency in New Zealand, a hardware wallet is essential. This guide compares the three most popular options for Kiwis in 2025: Ledger, Trezor, and Coldcard.

Why Use a Hardware Wallet?

Hardware wallets store your private keys offline on a physical device, protecting them from hackers, malware, and phishing attacks. Even if your computer is compromised, your funds remain secure.

You need a hardware wallet if:

  • You hold more than $5,000 NZD in crypto
  • You're storing long-term ("HODLing")
  • You've been targeted by phishing or scam attempts
  • You want full control without relying on exchanges

Ledger (Nano S Plus / Nano X)

Best for: Beginners and those who want a large coin selection

Price in NZ: $145–$265 NZD (depending on model and import costs)

Pros

  • Supports 5,500+ cryptocurrencies
  • Easy-to-use Ledger Live app
  • Bluetooth on Nano X for mobile use
  • Wide retailer availability in NZ

Cons

  • Closed-source firmware (less transparency than Trezor)
  • Past data breach exposed customer emails (funds were safe)
  • Bluetooth adds attack surface (though still very secure)

Where to buy in NZ: easycrypto.com, PBTech, direct from ledger.com (expect 1–2 weeks shipping + possible customs fees)

Trezor (Model One / Model T)

Best for: Open-source advocates and those prioritizing transparency

Price in NZ: $125–$450 NZD

Pros

  • Fully open-source hardware and software
  • Excellent reputation for security
  • No Bluetooth (no wireless attack vector)
  • Touchscreen on Model T makes setup easier

Cons

  • Supports fewer coins than Ledger (still 1,000+)
  • Model One has small screen and buttons only
  • Less available in NZ retail — mostly online import

Where to buy in NZ: trezor.io (direct), some crypto retailers. Expect 2–3 weeks shipping.

Coldcard Mk4

Best for: Bitcoin-only maximalists and advanced users

Price in NZ: $220–$280 NZD

Pros

  • Bitcoin-only = smaller attack surface
  • Can operate fully air-gapped (no USB connection)
  • Advanced features: multisig, BIP85, dice roll entropy
  • Open-source and highly respected in Bitcoin community

Cons

  • Bitcoin only (no Ethereum, altcoins)
  • Steeper learning curve
  • Limited NZ availability — must import

Where to buy in NZ: coldcard.com (direct), Bitcoin-focused NZ retailers

Which Should You Choose?

  • New to crypto, hold multiple coins: Ledger Nano S Plus
  • Want open-source, medium experience: Trezor Model T
  • Bitcoin maximalist, advanced user: Coldcard Mk4
  • Budget-conscious, Bitcoin-focused: Coldcard or Trezor Model One

Setting Up Your Hardware Wallet

Critical steps:

  • Buy only from official sources or verified NZ retailers — never second-hand
  • Write down your 12 or 24-word seed phrase on paper (never digitally)
  • Store seed phrase in a fireproof safe or safety deposit box
  • Test your seed phrase recovery before sending large amounts
  • Never share your seed phrase with anyone — not even "support"

Questions about hardware wallet setup or which one to buy? Contact me for personalised advice.