Trezor wallet is among the most trusted bitcoin hardware wallets that offers secure cold storage of cryptocurrencies. It is a small, key-sized device that connects to your computer using a USB cable. Its limited USB connection feature ensures your coins’ safety and it can function normally even in a compromised computer. The following is a Trezor wallet review, how it works and how to get one, and its price.
Trezor Wallet Review
- Trezor is a cryptocurrency hardware wallet. You can use Trezor to safely store your Bitcoin in cold storage. It secures your wallet information and you can use it to securely sign transactions.
- Trezor is available in two models; Trezor One and Trezor T model. Both are safe and secure to store and secure your Bitcoin (and altcoins, if you’d wish so).
- You can buy Trezor wallet from the official Trezor shop or order one on Amazon. It is not recommended to buy it from other sources and you always need to verify its holographic seal.
- 1 What is a Trezor Wallet?
- 2 Trezor Crypto Wallet Review
- 3 How to Use Trezor Hardware Wallet
- 4 Trezor devices
- 5 Trezor Installation and Set Up Process
- 6 Trezor Bitcoin Wallet Review
- 7 Trezor Chrome Extension
- 8 Trezor Suite
- 9 Trezor’s web wallet
- 10 Trezor Wallet Supported Coins
- 11 Trezor Wallet Price
- 12 How to Buy Trezor Wallet
- 13 Trezor Alternative
- 14 Conclusion on Trezor Hardware Wallet
- 15 More Information
What is a Trezor Wallet?
While the cold wallet Trezor is a hardware device, there is also the web-interface at suite.trezor.io/web which allows you to connect your Trezor with your computer or smartphone. This is an easy-to-use interface for the Trezor with which you control your funds and manage your balance. You can also use it to create new receiving addresses, transfer Bitcoin and buy Bitcoin. The Trezor Suite is the new version of the Trezor Web Wallet that still is accessible at wallet.trezor.io
On your android device you can connect to Trezor Suite directly. Plug your Trezor to your Android phone with the usb cable, open Google Chrome, and visit suite.trezor.io/web. Everything else works just like when using Trezor Suite on a desktop computer. There is no Trezor App.
Trezor Crypto Wallet Review
The Trezor crypto wallet is an easy-to-use interface for storing your cryptocurrencies, which helps to store coins and tokens in cold storage. This means that the private keys to your coins are never directly inside a device that is connected to the internet, thus safer from hackers and system malware. Trezor wallets allow you to set up your devices, control your funds, manage your balances and make transactions. The wallets simply provide stable and uninterrupted access to Trezor functions.
How to Use Trezor Hardware Wallet
If you want to invest in Bitcoin and possibly other cryptocurrencies, then you should consider keeping them in a hardware wallet. Even when hodling smaller amounts of Bitcoin, this is the recommended way since Bitcoin is likely to keep on increasing in value, as its adoption and its demand is growing in a tremendous pace. Trezor is a hardware cryptocurrency wallet that keeps your Bitcoin safe, and makes it harder to loose access to your coins. Also, the Trezor bitcoin wallet safely stores your wallet information and can sign transactions without sharing private information online.
Trezor devices are available in two models: the original Trezor One and its upgrade, the Trezor T model.
Trezor One Review
Trezor One, simply known as Trezor, was the world’s first bitcoin hardware wallet. It comes with all the basic features needed to keep your private keys protected. The device has undergone innovation leading to the invention of the second generation Trezor T model.
Trezor Model T Review (Trezor T)
Trezor T is designed with the experience from the original Trezor in mind. It combines the best features of the Trezor One with other advanced features that greatly improve its security and user experience. Being a massive upgrade of Trezor One, the Trezor Model T comes in at a higher asking price.
The Trezor One was invented in 2014 by the founders of SatoshiLabs, Pavol “Stick” Rusnak and Marek “Slush” Palatinus. Improvements on the Trezor One hardware wallet led to the development of the second generation Trezor Model T in 2018. SatoshiLabs headquarters are located in the Czech Republic.
Trezor One vs. Trezor T Model
The first generation of Trezor is known as Trezor One and the second generation device is called Trezor Model T. Trezor Model T comes packed with advanced features not found in Trezor One. This is how the two compare;
Trezor Installation and Set Up Process
Both Trezor devices are user-friendly, making the installation and Trezor setup process quite simple to follow. However, the touchscreen in the Trezor Model T speeds up the setup process. The buttons in the Trezor One slows down the process.
- To set up a Trezor hardware wallet, you need to connect your Trezor to your device’s USB with a USB cable.
- Visit suite.trezor.io and follow the process. As such, you can also use it on a Linux, Windows or Mac computer. The suite is a desktop app, but the web-version can also be used instead. The web version also supports Android (but not the iPhone or iPad).
- During the process you need to choose a PIN. On your device, you will see a keypad which you will use to enter this pin.
- It is worth noting that the locations of the number change every time. Therefore, confirm the numbers when using your device.
- Trezor will display-word wallet “seed”, one word after the other. You need to write the seed word down in a safe a separate place. You can use the seed word to rebuild your wallet in case your Trezor is stolen or damaged.
The seed phrase is the most important backup to have and your Trezor device only gives it once. Did you not write it down the first time, you cannot get it again. If this is the case, create a new wallet address, write down your new seed, and transfer your Bitcoins to the new address. Read more about the seed phrase backup further below.
Trezor Bitcoin Wallet Review
Trezor bitcoin hardware wallet was launched in August 2014. It was the first Bitcoin hardware wallet to start offering secure cold storage. You can use it to spend and invest conveniently.
Trezor One is one of the safest hardware wallets in the world. It offers top security for cryptocurrencies through second-factor authentication and password management. It is easy to use whether you are security savvy or you’re a first-time user.
Trezor Supported Platforms
Trezor One is supported on Windows, macOS, Android, and iOS. On the other hand, Trezor T is supported on Windows, macOS, and Linux. It also offers browser support in Chrome and Firefox.
Trezor One has two buttons for operating the device and a 128 × 64 pixel OLED display screen whereas Trezor Model T has a 240 × 240 pixels coloured LCD touchscreen for operating the device. Trezor T also comes with a micro SD slot (Trezor One lacks a micro SD slot) and has a faster processor. Both devices USB cables to connect to computers. However, Trezor One uses a USB Type-A cable whereas the Trezor Model T uses the newer USB Type-C cable.
Unfortunately the Trezor T SD slot can not yet be used for airgapped communication with other devices.
- It is important to keep the firmware of your Trezor up-to-date. It’s also very important to make sure you have a backup of your seed-phrase before starting the update process.
- There are 2 versions of the firmware, one is Bitcoin only, which is recommended if you don’t trade altcoins. The firmware and all the other software Trezor produces is open source.
Trezor Seed backups
It is very important to write down the 12 or 24 word seed on a piece of paper. You can only look at these words once, but you can (and should!) verify them. If you lose your device, it is important that you have your backup available.
The words of the seed backup are from a table of 2048 words, 11 bits per word. And there is one checksum word. This means that if you mess up one word, it is still relatively easy to recover. If you mess up 6 words however, you are looking at a loss of 60 bits of your seed, which is virtually impossible to crack today.
Many people have started storing the seed on metal. There are several solutions for this, all of them have the advantage to be able to much better withstand moist and fire.
Trezor Seed Passphrase
In addition to your seed, it’s also possible to enter an additional passphrase to your seed. Your seed is your backup to your wallet and gives anyone with access to that seed access to your wallet on the blockchain, also without your trezor. Having an extra passphrase gives you an extra layer of security. It’s recommended to store your passphrase elsewhere, or memorize it.
Your passphrase can exist of words or characters you choose yourself, similar to a password. Since it cannot be used without your seed to access your wallet, it doesn’t require the same type of storage security. If someone does get access to your Trezor, or your seed, this is the amount of time it then can take to crack your chosen passphrase.
If you create your passphrase after you have already set up a wallet, it’s advised to transfer your coins to your newly created address. If you’re unsure because you haven’t done it before, you can always first send a small amount. Also, it’s possible to create different wallets with different passphrases while using the same Trezor device and the same original seed.
If they end up in the wrong hands, both Trezor devices are not so hard to hack with the right tools. The main safety provided by Trezor is that your seed are not directly on your computer. Physical security of the device is quite important. Additionally, you don’t want to actually put a Trezor on your daily keychain and walk around with them. If you have a little vault at home, this could be a good place to store it.
The best way to work around the lack of hardware security of the device itself is by adding a passphrase. This can be considered the 25th word. The 25th word doesn’t have to be one of the 2048 words, and in fact, if you change one character, you end up with a completely different wallet.
Vulnerabilities come in when users disclose personal information such as passwords and recovery seed. Both Trezors also have a protective seal on its box when you buy it. If the seal is broken, do not use it. Both Trezors allow users to set a PIN code (to access your device), a passphrase (for accessing specific sub-wallets), and a recovery seed (to restore your device).
The Trezor One PIN code, passphrase and recovery seed are all inputted on your computer or smartphone (bringing in a level of vulnerability into the system). On the other hand, the Trezor Model T allows you to input the PIN code, passphrase, and recovery seed on the device itself.
Trezor Chrome Extension
The Trezor Chrome extension was a piece of software that facilitated communication between your Trezor device and your Trezor wallet. It connected the Trezor with the chrome browser. You could use the Trezor Chrome extension to access Trezor management features such as device initialization, changing PIN, setting up sub-wallets with passphrase, etc. However, the Trezor Chrome extension is now obsolete and in its place is the Trezor Bridge.
Trezor Suite is a desktop and browser app for Trezor hardware wallets used to manage crypto. The desktop app is compatible with Windows, macOS, and Linux while the browser app is compatible with Windows, macOS, Linux and Android through Chrome. Trezor Suite is an upgrade to the Trezor wallets aiming to eliminate the risk of phishing sites tricking users into providing private information. It also makes cryptocurrency management faster and safer while maintaining high levels of privacy. It also has a native support for popular altcoins such as ETH, ETC, XRP and more. Trezor Suite is in public beta and is available to download and test.
Being in beta, bugs are to be expected. However, there is continued improvement and once all issues are resolved and a stable version is released, the Trezor wallet will redirect to Trezor Suite where you can download the latest version. The Trezor Wallet will be deprecated following the release of the new version of Trezor Suite.
Trezor’s web wallet
- You should connect Trezor wallet via the USB cord that it came with.
- Open https://trezor.io/start in an up-to-date version of Chrome and Mozilla Firefox.
- Choose the Trezor version you bought as your device.
- Download and install the Trezor Bridge and then refresh the page.
- You will be asked to install Trezor firmware. Click on “Install firmware”. You may be asked to disconnect and reconnect the device several times.
- Once the process is completed, you can use Trezor or Trezor web interface to make transactions.
Trezor Wallet Supported Coins
The Trezor is a multi-currency hardware wallet that supports hundreds of coins. However, there are some coins supported by Trezor T model that Trezor One does not support. This means that Trezor One supports fewer coins compared to Trezor Model T.
The coins supported by Trezor Model T include Bitcoin (BTC), Ethereum (ETH)plus all ERC20 tokens, Litecoin (LTC), Dash (DASH), Bitcoin Gold (BTG), Lisk(LSK), Monero (XMR), Bitcoin Cash (BCH), Ethereum Classic, Expanse, Ripple (XRP), Cardano, Zcash (ZEC), UBIQ, Bitcoin testnet, NEM (XEM), Dogecoin (DOGE), Tether (USDT), Tezos (XTZ), Stellar (XLM), EOS (EOS), Harmony (ONE),etc.
We believe Bitcoin is the only cryptocurrency worth hodling. Read our article about altcoins, scamcoins and shitcoins.
Does Trezor One Support Ripple?
Ripple is an ouright scamcoin that is only used for speculation. If you like buying it and keeping it (who know’s why) it’s good to know Trezor One does not support it. There are some other coins that the Trezor One does not support. They include Cardano (ADA), Ripple (XRP), Binance Chain (BNB), Monero (XMR), Eos (EOS) and Tezos (XTZ). It does not also support most recent ERC20 coins. Instead of the Trezor One, you’ll need the Trezor Model T. For a complete overview of the coins supported, please refer to trezor.io/coins
Trezor Wallet Price
Trezor wallet prices differ based on the Trezor firmware version you are buying. Trezor Model T is €164 EUR or $195 USD, Trezor Model One is €53 EUR or $63 USD. You can also buy a Trezor Model T Backup Pack, or The Trezor One Mettalic, Trezor Ultimate Pack as well as Trezor accessories such as a fancy Trezor case or a Trezor Lanyard.
Trezor delivery time in the UK is between 1 to 2 business days after the order is processed and the package has been dispatched. This applies to Trezor standard shipping. Trezor delivery time outside the United States, may vary between five days to six weeks depending on your location and your national post service. Standard shipping is only available in UK, EU and Russia.
Please do not use exchange withdrawals to pay for the order. Trezor has experienced some issues with this kind of payment, as exchanges often deduct the transaction fee from the withdrawn amount and also process the payments in bulk once per period of time. Therefore, your order can get canceled due to the insufficient amount or because they are paid after the timeout.
How to Buy Trezor Wallet
These are several Trezor alternatives, such as Ledger, Coldcard, BitBox and Keepkey
- Ledger, secure element, closed source
- Coldcard, Bitcoin only, with a secure element, visible source (but non-free license), air-gap functionality
- BitBox, open source, secure element
There have been many reports about stolen crypto assets on Google’s Android Play Store, on the web, and even on the Apple App Store. Scammers submit originally legit apps for approval and later transform them into phishing apps. There have been several reports on cryptocurrency theft by fake Trezor apps on iOS and Android. Fake Trezor apps have been posing as a Trezor product on Google Play Store and Apple App Store to scam its customers. Trezor does not have official apps in the app store.
To protect and secure your cryptos on Trezor wallet, make sure you use the browser and navigate wallet.trezor.io
Conclusion on Trezor Hardware Wallet
The Trezor hardware wallet offers maximum security for your digital assets. Trezor One is quite affordable and the Trezor Model T supports more coins and offers a better user experience.