A common misconception is that a hardware wallet can hold any cryptocurrency. In reality, you are limited by the firmware written by the manufacturer.
The "Big Two" (Ledger and Trezor) Both Ledger and Trezor support thousands of assets, but they handle them differently: - Native Support: This means the coin is fully integrated into their official app (Ledger Live or Trezor Suite). You plug it in, click 'Add Bitcoin', and it works seamlessly. This covers major coins (BTC, ETH, SOL, ADA, DOT, MATIC). - Third-Party Support: For smaller altcoins or brand new networks, the hardware wallet can secure the private keys, but the official app can't display the balance. You have to connect the hardware wallet to a compatible software wallet (like MetaMask or Phantom) to interact with the coin.
Storage Limitations (The "App" Problem) Storage limits used to be a massive issue. The old Ledger Nano S could only hold 3 "apps" (e.g., Bitcoin, Ethereum, Cardano) at the same time. If you wanted to manage a fourth coin, you had to uninstall one app to make room for another. (Your funds were safe, but it was incredibly annoying).
Modern wallets in 2026 (Ledger Nano X, Nano S Plus, Trezor Safe 3/5) have significantly more memory and can hold dozens or hundreds of apps simultaneously, essentially eliminating this bottleneck.
Bitcoin-Only Wallets Some purists argue that supporting thousands of altcoins increases the "attack surface" (more code = more potential bugs). Devices like the Coldcard Mk4 or the "Bitcoin-only" edition of the Trezor Safe 3 run stripped-down firmware that only understands Bitcoin, prioritizing maximum security over broad compatibility.