The launch of the Trezor Safe 3 and Trezor Safe 5, along with their arrival in Vietnam, has significantly impacted the market share of the Czech-born OG hardware wallet manufacturer.
For the first time since we began publishing sales records, Trezor has captured over a quarter of the total market share – a notable increase from its previous steady range of 15–20% of total sales.
This market share growth has largely come at the expense of Ledger, the globally leading hardware wallet manufacturer. For the first time, Ledger’s sales dropped below two-thirds of all wallets sold.
Looking ahead to 2025, we anticipate a strong response from the Paris-based Ledger, as new models are expected to enter the market.
Both Trezor and Ledger continue to offer solid options for “crypto daily driver” wallets, supporting a wide range of tokens and coins, including the increasingly popular stablecoins USDT and USDC on the most common blockchains.
The market share for “Bitcoin-only” wallets remained relatively steady at around 10% of all devices sold in Vietnam. In Q4 2024, Blockstream reclaimed the top spot from Coinkite (Coldcard). The more affordable Jade wallet generally resonates better in Vietnam compared to the premium Coldcard devices, giving Blockstream a clear edge in this segment.
ZEC Network fork
At the close of the year, one notable issue emerged involving the latest network fork of ZEC (Zcash), which temporarily disrupted transaction capabilities for several major services in the global crypto ecosystem.
Users of platforms such as Binance, Bitfinex, and other prominent centralized exchanges (CEX), along with Ledger hardware wallets, reported difficulties processing transactions on the updated ZEC network.
While no funds were lost, users on these platforms were unable to transfer ZEC until the respective services completed upgrades to support the new network fork.
Trezor, in this instance, implemented support for the ZEC network fork ahead of time, ensuring compatibility shortly after the fork occurred. Ledger is actively working to complete its updates, and once finalized, ZEC users will regain full functionality on their devices.
For ZEC (Zcash) users seeking immediate network support, Trezor currently offers a ready-to-go solution.
