Choosing a nail lamp is dependent on the product you use.
A LED lamp will only work for gel polishes that are set to cure under LED light, where UV lamps work for all types of gel polish. UV lamp gives you more flexibility if you planning to use various polishes.
One of the biggest differences between UV and LED lamps, is the curing time.
LED lamps to cure quicker than UV lamps.
If higher the wattage rating, the better is curing and faster the drying time. Of course, if the wattage increases, so do the price. Anything below 10 wattages is not recommended as they not work well. The minimum wattage to cure gel nails is 24-36. If you would like to save time on curing, then you can go for higher wattage lamps.
Lately, you can get UV-led lamps which means the LED beads can emit UV to dry the gel.
UV lights have a bulb life of 1000 hours which means you have to replace the bulbs every six months.
LED lamps last around 50,000 hours which means you never have to worried about change the bulb. That why LED lamps are more expensive. Some lamps have sensors fitted on them, you can set up a certain time and it will be switched off automatically after the set time finishes. This will help you to concentrate on the job you do.
Bonus
Keep in mind not to stare at the light for a long time, it will harm your eyes