Trezor Crypto Wallet Review

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What Is Trezor wallet?

Trezor Wallet is a physical hardware wallet for Bitcoin digital currency that can function independently of the Internet. It was created in August 2014 by Satoshi Labs. Moreover, the Trezor hardware wallet is considered to be the world's first autonomous device for storing Bitcoin coins. This device stores users' keys, as well as data on financial transactions. Despite the fact that the Trezor wallet is an offline storage device, it is quite handy for performing various tasks, both online and offline.

Review Summary

Feature

Total Rating

Ease of Use

5 ⭐⭐⭐⭐⭐

User Interface

5 ⭐⭐⭐⭐⭐

Features

5 ⭐⭐⭐⭐⭐

Security

5 ⭐⭐⭐⭐⭐

Support

5 ⭐⭐⭐⭐⭐

Advantages and disadvantages

Advantages

Disadvantages

  • High security
  • Holds a huge amount of cryptocurrencies
  • Constant updates
  • Setting up a wallet can cause some difficulties for novice users of virtual currencies

About the wallet

About the wallet

The wallet works autonomously without additional power. To connect it to your computer there is a USB cable, which is included in the kit. To manage the device, Trezor Suite application is used, which is a web interface. Security is provided by setting a pin-code and a passphrase. Restoring access is possible by using the seed phrase, which you get when you first set up the wallet. All data is stored in the non-erasable memory of the device and is inaccessible to third parties. Private keys do not leave the device. The presence of viruses on your computer will not lead to the loss of cryptocurrency. Trezor is the best hardware wallet option for crypto users.

Trezor hardware wallets

Two types of wallets are available:

  • Trezor One (41,82 £)
  • Trezor Model T (135,69 £)
Trezor hardware wallets

After purchase, make sure that the holographic stickers on the package are intact. Purchase the device from the official site, do not get it from ads or on the second-hand market.

Package Contents

Package Contents

The standard Trezor hardware wallet package includes:

  • Trezor Wallet
  • USB cable
  • Leaflet for recording the seed phrase
  • Instruction manual
  • Magnet for attaching the wallet anywhere (Model T only)
  • Trezor logo stickers

Differences of Trezor wallets

All Trezor wallets provide good protection for cryptocurrency savings. Model Trezor One is more popular because of its low cost: £41.82 compared to Model T's £135.69. Their functionality is generally similar. But, the Model T is a new generation wallet and very easy to use:

  • It has a large touch screen display
  • Setting the pin code, password, entering the seed phrase is carried out directly on the device
  • Magnet included for convenient storage
  • More productive processor

Hardware Wallet Security

Here are some recommendations that will allow you to use Trezor wallet safely:

  • Buy the device only on the official site: trezor.io
  • Specify a complex pin code, which is hard to pick up. You should not use variants 1234; 1111, etc. The maximum length is 9 digits. On the Trezor T model the pin is set using the touch screen. If the code is complicated, it is better to write it down. After 16 unsuccessful attempts to enter it, the hardware device is cleared and the access to coins can be restored only by using the seed-phrase. Also, if the wrong PIN code is entered, the time interval between the next attempts is doubled. If the PIN is forgotten there is only one thing left - to clear the device and start using it from scratch. And to change it, use the interface Trezor Suite.
  • Write down, save seed on the sheet that comes with the wallet. A seed or mnemo-phrase is 12 (Model T) or 24 (One) words in English. Write them down in the same sequence as you see them on the screen. Even if the Tresor is lost or stolen, you will be able to export it to another wallet and access your coins. Make several copies and put them in different places. Don't store the seed in text files on your computer, cloud storage, email, etc.
  • Specify a passphrase (for advanced users). Maximum length is 50 symbols (words, digits, letters). The main thing is to remember them, or better write them down on a piece of paper. New cryptocurrency addresses are generated when this function is turned on. Therefore, if you used Trezor without a passphrase and then installed it, specify a blank password to access the old addresses.
  • Always use the current firmware.

The device works on the principle of zero trust. This means that if a wallet or computer is hacked, it will not affect the security of stored cryptocurrency in Trezor.

Every transaction goes through a mandatory confirmation on the device itself. If viruses on your computer and were able to tamper with the address and amount, you will be able to see this on the wallet screen and cancel the cryptocurrency transfer.

Operating instructions: installation, receipt, transfer of cryptocurrency

Operating instructions: installation, receipt, transfer of cryptocurrency

To interact your hardware device with Trezor Suite web wallet interface, you need to click on the "Wallet" button on the official Trezor website, go to the application page and download Trezor Suite for your operating system.

Install the program, restart your browser when finished and go to the "Wallet" page again. The next step is to connect the wallet to your computer.
After connecting to the Trezor Suite interface, you must install the latest system firmware, because the devices are shipped without it. After installing it, disconnect and reconnect Trezor. Then, click to create a new wallet.
Make further settings by pressing "Create a backup in 3 minutes":

  • Write down seed on a piece of paper. The number of words depends on the wallet model. Trezor One has 24 and Model T has 12. Right-click on the Trezor One to see the next word; swipe up on the touch screen on the Model T. Do not mix up the order of the words. Seed only appears twice
  • Give the device any name you like
  • Set the Pin Code. On a Trezor Model T Wallet - using the touch screen display; Trezor One - by clicking on the bar in the browser, and you will only see the code numbers on the device itself
Trezor Suite

Setting up the Trezor wallet is now complete and it's ready to use. You will see an interface for all possible operations with cryptocurrency (receiving, transferring), settings (changing pin code, setting password, etc.).
Receiving funds is as follows:

  • To select the desired crypto coin, click on the drop-down list in the left corner
  • To get the cryptocurrency address, click "Receive". It needs to be confirmed on the hardware wallet. Check all symbols, because if your computer is infected with viruses, there is a chance that the address in your browser may have been tampered with. You can create as many addresses as you need for each new transaction
  • After transferring cryptocurrency to any of them, you will see its status (Unconfirmed) and number of confirmations in "Transaction" section
How to transfer cryptocurrency from trezor wallet

To transfer cryptocurrency from Trezor wallet, click "Send" and specify:

  • The cryptocurrency address (Recipient Address) to which you want to send the coins
  • Amount
  • If necessary, set optimal commission (Bitcoin network fee)

Conclusion

The Trezor hardware wallet is an essential device for anyone who is seriously engaged in cryptocurrency. You can buy Trezor from more than 150 countries.
The company that produces these devices has been on the market long enough and is doing its best to meet the needs of customers, optimizing the product and making it the safest.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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