Our TREZOR Wallet review
Now that we’ve explained the process for setting up your TREZOR wallets, let’s look at the different aspects of these devices. After this Trezor review, you will likely have more than enough information to make an informed decision.
Main features of TREZOR
- More than 1,000 cryptocurrencies available to store, send and receive.
- Integrated display (monochrome with 2 buttons in Trezor One, color touchscreen in model T.)
- Advanced Safety: This device is CE and RoHS certified and meets all minimum standards of quality and reliability.
- Protect your digital identity with a password manager, SSH protocol, GNU Privacy Guard (GPG) encryption tool, two-factor authentication (U2F), FIDO2 * authentication and Shamit * backup.
- Support for third party applications such as CoinPayments, BitPay and MyEtherWallet.
- Quick setup: You can quickly register your device in a private and risk-free environment.
- Restore: in case of loss, you can restore all the information of your account using the mnemonic sequence of 12/24 words (seed of the passphrase) that you will create on first use, using the BIP32 / 39/44 standards.
- USB 2.0 or USB C *.
- Hierarchical Deterministic Wallets: TREZOR uses hierarchical deterministic wallets (HD wallets), which allow the device to manage multiple bitcoin accounts with multiple addresses through the main seed.
- Bitcoin-only firmware.
* Only available on Trezor Model T.
Which cryptocurrencies can be stored in your TREZOR wallet?
As shown above, TREZOR wallets support more than 1,000 cryptocurrencies and tokens. Listing them all is out of the scope of this review, so we’ll keep it simple by selecting the best coins you can store in your Trezor wallet:
- Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Private.
- Ethereum, Ethereum Classic and ERC20 tokens.
- Tether, Litecoin, Stellar, Dash, NEM, Chainlink, Dogecoin and ZCash.
- The following cryptocurrencies are only supported by the Model T wallet: Ripple XRP, EOS, Cardano, Monero and Ontology.
- Check out the full list here.
TREZOR wallet prices
As hardware wallets gain popularity, they become more affordable, as is the case with TREZOR devices. As of September 2020, the price of Trezor One starts at $ 55 (USD) or € 48.76 (EUR), as per the official website. Conversely, Trezor Model T can be purchased for 169.99 USD (149 EUR.)
Please note that these are standard prices, but you can get discounts with 3-pack packs or pay even more if you choose exclusive versions like “Trezor One Metallic”. In our opinion, the costs of the Trezor wallet are affordable and quite reasonable for what you get. However, the T model is suitable for more advanced users with much larger crypto holdings leading to more complex needs.
Is the TREZOR wallet suitable for beginners?
Both TREZOR wallets feature an incredibly simple user interface that will guide any beginner into the world of the cold room in the blink of an eye. These devices are perfectly suited to beginners, but keep in mind that you will need to familiarize yourself with several concepts such as the “main seed” and follow best practices to get the most out of your hardware wallet.
Even if its target audience is a somewhat savvy user with significant crypto holdings, beginners can also take advantage of the security features offered by TREZOR.
SAFE security
TREZOR keeps up to date with the latest security standards in digital businesses and offers an open community, where any user can contribute with any identified threats or security breaches and be rewarded for it.
Among the security features offered by TREZOR, the devices run on a “closed source microprocessor chip”, which makes them no different from a closed secure element chip. The first time you connect your Trezor device to a computer, you will get a clean install of the firmware, which is protected by a digital signature from SatoshiLabs.
TREZOR also supports advanced security features such as Shamir Backup (Model T), BIP39 passphrase, secure bootloader and disabled JTAG, isolated private keys, PIN verification for any transaction, bitcoin-only deterministic hierarchical firmware or encryption via CPG.
Is TREZOR Wallet a legitimate and safe option to store your cryptocurrencies?
TREZOR is the first hardware wallet and holds great support from the crypto community, making it one of the most secure and robust options for storing these digital assets. TREZOR One is probably the device of choice for most users, with all the security features needed to keep your crypto assets safe. Our TREZOR review is very positive; however, these types of devices have limitations for those who operate on a daily basis and need quick access to their funds.
Therefore, Trezor wallets are specially designed for medium and long-term cryptocurrency holders, traders with larger holdings where security is a priority. According to the research we have done, the views on this portfolio are significantly positive. In the different blogs and websites, users review TREZOR as a reliable and safe device and the vast majority of users are satisfied with their investment.
However, you should always be aware of your share of responsibility and keep up to date with security best practices, trying to avoid exploits such as phishing schemes, malicious software, or other security breaches that could compromise the security of your funds.
