TL;DR
Both can check addresses against your registered multisig, which makes both good at catching a tampered computer. The BitBox02 stores the registration itself; for the Ledger, Sparrow keeps it. The BitBox02 has fully open-source firmware you can verify; the Ledger is cheaper but runs closed code on its secure chip. In a 2-of-3 I use both.
| BitBox02 (Bitcoin-only) | Ledger Nano S Plus | |
|---|---|---|
| Screen | Small OLED, touch sliders | 1.1″ monochrome OLED, two buttons |
| Firmware | Open source, reproducible builds | Bitcoin app open source; secure element code closed |
| Secure chip | ATECC608B, alongside an open microcontroller | ST33K1M5, CC EAL6+; runs everything |
| Remembers your multisig | Yes, stored on the device | Yes, registration stored in Sparrow’s wallet file |
| Default backup | microSD card; choose 24 words instead | 24 words |
| Passphrase | Entered on the device each time | Attached to a second PIN, or entered for one session |
| Price | Higher | Lower |
Two different ideas about security
BitBox keeps all bitcoin logic on a normal microcontroller running open-source code, and uses its ATECC608B secure chip only to guard an encryption secret and slow down password guessing. Ledger does the opposite: everything runs inside its ST33K1M5 secure element, which resists physical attacks very well but whose operating system isn’t public. More on that trade-off in open vs closed source hardware wallets.
In a multisig
Both register your multisig, so both can confirm an address really belongs to your vault. The difference is where the registration lives. The BitBox02 keeps it on the device. The Ledger signs it and Sparrow keeps that signed registration in the wallet file, so after rebuilding the wallet from the descriptor you register the Ledger again.
What to change during setup
- BitBox02: skip the microSD backup and write down the 24 words instead.
- Ledger: install the Bitcoin app (2.1 or newer) and don’t sign up for Ledger Recover.
My pick
Both, with a Trezor as the third brand. If you have to drop one, keep the BitBox02 for its verifiable firmware. Full reviews: BitBox02 and Ledger Nano S Plus.
BitBox02: Buy from BitBox · Buy on Amazon
Ledger Nano S Plus: Buy from Ledger · Buy on Amazon