Ledger vs Trezor Affiliate: Which Wallet Program Fits You?

Ledger and Trezor sell the same kind of product to the same buyer — someone who wants to move coins off an exchange into a hardware walletHardware wallet A small physical device that keeps crypto keys offline. Affiliates usually earn a percentage of each device sold. More — so affiliates often promote both. The two programs, though, reward different kinds of publishers. Ledger is easy to join, pays on low thresholds and gives you two payout tracks. Trezor pays a higher headline percentage and publishes a real cookie window, but asks for more patience and follows the stricter content rules. This page compares the terms line by line and runs the per-sale math in percentages, so you can pick the program that fits your site. The full breakdowns are in our Ledger affiliate review and Trezor affiliate review.

Commission per sale: 10% minimum vs up to 15%

Ledger’s affiliate terms set the commission at a minimum of 10% of the final price the customer actually pays, after discounts and excluding VAT, GST, sales taxes and delivery costs. Ledger describes a “Tiered Reward Program”, but the higher tiers unlock non-cash perks: free Ledger devices, event access, sponsorship opportunities, community giveaways and NFT drops. Higher cash rates for those tiers are not published, and Ledger reserves the right to change the compensation rate. Refunded or cancelled orders are deducted from later payments.

Trezor’s affiliate page advertises up to 15% on every sale, on the net order value excluding VAT and shipping. Under the Trezor affiliate terms, the exact rate is set per “Offer” inside your dashboard. The split between the base rate and 15% is not published, so treat 15% as the ceiling, not the default. A conversion only becomes valid 14 days after delivery, and only if the order was fully paid and not cancelled. Some offers also pay on repeat purchases made within 30 days of a first referred order.

Neither program pays a recurring commissionRecurring commission A commission paid again every time a referred customer renews a subscription — typical for trading bots and crypto tax software. More. You earn once per qualifying order, which is normal for physical products and very different from exchange revenue shareRevShare You earn a percentage of the revenue a platform makes from your referred users — on exchanges, usually a share of their trading fees. More.

Per-sale math in percentages

Because device prices change and vary by country, it is cleaner to compare the programs per unit of net order value — what is left after discounts, VAT and shipping.

• Per €100 of net order value: Ledger pays at least €10; Trezor pays up to €15.
• At Trezor’s top rate, you earn 50% more per euro of sales than on Ledger’s base. Put another way, Ledger needs 1.5 orders for every Trezor order of the same value to pay the same.
• If your Trezor offer is 10%, the two programs pay the same per euro, and the other terms decide the winner.
• VAT comes off first. An illustrative checkout of €120 that includes 20% VAT has a net value of €100, so the commission is €10 at Ledger and up to €15 at Trezor — not 10% or 15% of €120.
• Discounts work differently. At Ledger, a 20% promotional discount cuts your commission by 20%, because the base is the discounted price. At Trezor, an order paid below full price with a discount coupon may earn nothing, since commission on such orders is paid only at Trezor’s discretion.

Thresholds tell the same story in reverse. Ledger’s in-house minimum of €50 equals €500 in net sales at 10%, plus at least 2 orders. Trezor’s €100 BTC minimum equals roughly €667 in net sales at 15%, or €1,000 if your offer is 10%. The €200 EUR wire threshold doubles those figures to about €1,333 and €2,000.

Cookie and attribution: undisclosed vs 30-day first click

Trezor publishes a 30-day cookieCookie life How long after a click the program still credits you if the visitor signs up or buys. A 30-day cookie gives the user 30 days to convert. More and uses first-click attributionAttribution The rule that decides which affiliate gets credit for a user — for example, the last link clicked or the referral code entered at sign-up. More: if a buyer clicks links from several affiliates within 30 days, the first link gets the credit. That is unusual — most networks default to last-clickLast click An attribution rule where the affiliate whose link was clicked last before the conversion gets the full commission. More — and it favours publishers who reach buyers early, such as “which hardware wallet should I buy” guides and beginner tutorials. Trezor also tracks affiliate discount codes.

Ledger does not disclose a cookie length. The terms say only that the purchase must be made through your unique affiliate link; customers who arrive another way are not credited. For long, research-heavy buying cycles, that uncertainty is a real cost when you compare the two.

Minimum payout, payout timing and currency

Ledger runs two parallel tracks, and you choose one:

• In-house platform: paid in bitcoin to the address you give at sign-up, converted from EUR at the Bitfinex rate on payment day. Minimum €50 and at least 2 orders. You click a payout button, and Ledger pays within 30 days.
• Impact: paid in EUR, AUD, GBP or USD, chosen when you create the account. No minimum. Paid within 30 days of your request.

There is one trap: you must request a payout at least once every 12 months, or rewards older than 12 months are reset to zero. Ledger may also ask for ID, proof of address and VAT status before paying, and you must issue a valid invoice (a draft invoice generator is provided).

Trezor pays monthly once your balance clears the threshold: €100 for BTC or €200 for a EUR wire. Your balance is held in EUR and converted to BTC at the CoinGecko rate. Bank and transaction fees and taxes are on you. A balance that never reaches the threshold is paid only when the agreement ends, minus a €7 service fee.

For a small site, Ledger is far friendlier: €50 or no minimum against €100–€200. For bitcoin-native affiliates both work; Ledger’s BTC route needs a lower volume to trigger. If crypto payouts matter to you, see our list of affiliate programs that pay in crypto.

Networks: Ledger in-house and Impact vs Trezor on TUNE

Ledger runs its own platformAffiliate network A platform that connects many advertisers with many affiliates and handles tracking, reporting and payouts in one account. More at affiliate.ledger.com with a 24/7 dashboard, and also accepts affiliates through Impact. Sub-IDs, API and postbackPostback A server-to-server message the program sends to your tracker when a conversion happens, so you see sign-ups and deposits as they occur. More support are not disclosed for the in-house dashboard. Promo materials include banners, links and videos, with more on request.

Trezor’s program runs on TUNE. The dashboard shows click performance, a conversion report and pending versus valid payouts, and the operator provides reporting tools and an API. Payouts go to the address in your Tune partner account. You get affiliate links, discount codes and a platform guide; custom creatives need written approval. If you track campaigns by source, our tracking and postback guide explains what to set up.

Joining is where the two differ most. Ledger is self-serve: fill in your name, country, main traffic source and URL, and your link and dashboard are ready immediately. Trezor reviews every application manually and emails a decision within one month.

Content restrictions: Trezor’s rules in detail

Trezor’s latest terms are the strictest in this comparison, and they change how you can write. Under the program you may not:

• Bid on "TREZOR", "The Bitcoin Safe", "SatoshiLabs" or their misspellings — or on competitors' brand terms.
• Use trezor.io or other Trezor domains as a display URL in paid search, or register domains containing "trezor" or "satoshilabs".
• Share affiliate discount codes publicly; codes are for closed communities such as newsletters and member groups.
• Use rebate or cashback browser extensions, adware or parasites, or run misleading or inflated-discount ads.
• Promote buying, selling, staking or yield on crypto-assets, or third-party services inside Trezor Suite, under the program.
• Buy through your own links for resale, or send unsolicited email.

You must also disclose the paid relationship clearly, keep records of promotional content for 12 months after the agreement ends, and remove content within 5 business days of a request (24 hours if urgent). Trezor can exclude countries from the program at any time, on top of sanctions screening.

The restriction on crypto buying, staking and yield is the one that catches content sites. A “how to buy bitcoin and store it on a Trezor” article can still exist, but the Trezor affiliate link must promote the device and Trezor Suite only.

Ledger’s rules are shorter but strict in their own way. Brand biddingBrand bidding Buying search ads on a brand's own name, such as 'Bitget login'. Most crypto programs ban it and can void your commissions. More on Ledger terms and misspellings is banned, and so is placing affiliate links on search ad platforms like Google Ads or Bing Ads at all. Coupon and cashback sites, URL shorteners, spam, bots and adware are out. Five or more orders through one link shipped to the same address can get you terminated. Our compliance guide covers disclosure and geo rules for both.

Conversion angles that work for each brand

Hardware wallet buyers do a lot of research, so content wins over paid searchPPC Paid ads where you pay each time someone clicks, like Google or Bing search ads. Crypto ads face strict platform rules. More here — and both programs ban brand search ads anyway. The angles that fit each program’s rules:

For Trezor: lean into the 30-day first-click window with top-of-funnel content — beginner security explainers, “exchange vs self-custody” pieces focused on the device, and setup walkthroughs for the Safe 3, Safe 5 and Safe 7. Pair the Keep Metal backup with seed-phrase storage guides. If you run a newsletter or private community, the closed-community discount code is your strongest lever.

For Ledger: with no published cookie, place links close to the purchase decision: model comparisons across the Nano S Plus, Nano X, Flex and Stax, “which Ledger should I buy” pages and unboxing videos. Because Ledger approves instantly and allows YouTube, social, Discord and newsletters, it is a good first program for a new channel. The tier perks — free devices and giveaways — help creators who run community contests.

On any page that compares the two brands, disclose both relationships and make sure each link promotes only what its terms allow. Our guide to building a crypto affiliate website covers comparison-page structure, and traffic sources explains which channels convert for hardware.

Which is the best hardware wallet affiliate program for your site

Verdict

Trezor is the stronger program on paper for an established content site: up to 15% per net sale, a published 30-day first-click cookie and a dashboard with API access. You pay for that with manual approval, higher thresholds, a 14-day validation period and tight rules on what you can promote. Ledger is the easier, more flexible program: instant access, a €50 or zero threshold, and a choice of bitcoin or four fiat currencies — at a 10% minimum and with no cookie length on record. Many wallet publishers will want both. Start with Ledger if you are new, add Trezor once your traffic is steady, and look at Tangem or ELLIPAL in the wallets category for further options.