Trezor Hardware Wallet Review and User Guide
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Trezor Review: Overview
In this Trezor review we cover Trezor hardware wallets and compare the different models. Additionally we cover how to use the Trezor, their security and customer service among other things. Like this will be able to figure out whether a Trezor hardware wallet is the right choice for you.
Trezor One & Model T
High level of security
First hardware wallets ever launched
Trezor makes two types of hardware wallets. They are the Trezor model One and the Trezor model T. Trezor wallets are produced by SatoshiLabs.
They are the first company that produced and released the first hardware wallet on the market. This was way back in 2011 when cryptocurrency was just starting out.
As a result of being a first mover, Trezor wallets are among the most popular choices for consumers. The hardware wallets are designed with usability in mind. While on the other hand they provide a high level of security. They give all round protection for cold storing and transferring cryptocurrency.
How to Set Up Your Trezor
Before you open the box of your Trezor, you should check that the seal is still intact. Otherwise someone could have compromised the device and hence is not secure. If the seal is not intact you should get in touch with Trezor and ask for it to be exchanged.
Inside the box you will find instructions on where to go online to start to set it up. You can watch how to set up your wallet by following these videos here below.
How To Transfer Your Crypto Onto Your Trezor
To transfer your cryptos you will need to find your wallet address which you can get from your Trezor device. You need to use the right wallet address otherwise you could lose your funds.
As a result if you bought a large amount of crypto you should transfer only a small amount as a test. Like this you can make sure you have the correct address. So if the funds transfer over as intended then you can transfer the rest of the funds.
Firstly you will need to login to your Trezor. The most popular cryptocurrencies will be readily available to you. However if you chose to buy another cryptocurrency that is not listed as an option you will need to add it to the list.
The video below explains everything you need to go about the next steps. It explains how you can find your wallet address, how to install other cryptos and receive funds. You can load the video from 10:46 minute mark to see the relevant content.
Once you make the transfer make sure you check in your Ledger or Trezor wallet to make sure you received the funds.
Trezor Review: Security
Trezor hardware wallets are not independently verified as secure like Ledger hardware wallets. They simply opted not to go to the expense of verifying their hardware wallets. However it should not put you off Trezor. They are still highly secure.
All hardware wallets are basic software devices that are made to only support the most basic functions. In other words they can only do two things. Firstly they keep the seed or recovery phrase secret. Secondly they interact with blockchains when you ask the device to do so.
As a result they have very little code. So there are no vulnerabilities to allow hackers to compromise your assets. Additionally hardware wallets are not connected to the internet.
They need another device like a desktop computer or mobile to interact with blockchains. To clarify the Trezor hardware wallets work with the Trezor Suite application. You can download it from the Trezor website itself when you set up your Trezor.
The point is they cannot connect to the internet on their own, but they need a bridge. This means they are more secure because they allow you to store your funds in cold storage.
So although Trezor hardware wallets may not have security certification they are robust. In fact to this day Trezor do not have any recorded security breaches on their devices. Additionally you have to consider they have been around since 2011. That is an excellent track record where security is concerned.
In this Trezor review we have to cover some techy details. You may or may not want to know what is featured in the following list. This is because you just want to know that it is secure and that is it.
However, the Trezor hardware wallet security features include:
Firmware verification
When you connect your Trezor to the Trezor Suite it will automatically verify your Trezor hardware wallet. Like this you will know it is a genuine device.
Ultrasound hardware seal
The internal case of each Trezor hardware wallet is welded ultrasonically. As a result it will not function after breaking.
Protected key operation
Your seed phrase and public keys are protected by the device. They can only be used after you authorise the Trezor to do so. You can authorise the device by inputting your PIN number when you choose to execute a transaction.
Secure update procedure
The software to load the device will erase the device memory if something is wrong with it. This is just in case someone tampers with it.
Additional passphrase support
The passphrase is a single word that you can add for additional security. It is not stored on the device. As a result it is great protection against physical theft.
Protected bootloader
An attacker cannot compromise the software code to verify the Trezor devices on the Trezor Suite. This is because of the way it has been set up on the app.
Security Differences Between the Wallet Models
Both Trezor hardware wallets are secure. They work by plugging them into a computer or mobile phone and accessing the Trezor Suite app.
However the Model T has a touchscreen that protects your pin number. This is because it needs to be inputted on the touchscreen of the wallet device itself.
On the other hand the pin for the Trezor One needs to be inputted directly on a computer or mobile. The numbers are not shown on the screen of the computer or mobile. However there are only dots that correspond to the numbers shown on the wallet’s screen.
The problem is if the computer or mobile is compromised. Although it is a secure wallet it is a slight increased security risk, but not by much. As a result the Trezor model T is slightly more secure.
Additional Security by Using a Passphrase
Trezor has the ability to include a passphrase. To clarify this is an optional feature that provides additional security. It is a great feature and it is highly recommended that you set it up.
The passphrase can be an additional word, string of random characters or a sentence of up to 50 characters. You place it at the end of your 12, 18 or 24 word recovery phrase. (A recovery phrase or seed phrase is the only back up for you crypto. You need it just in case your Trezor gets stolen or destroyed.)
The passphrase allows you to create more wallets within your Trezor device. That is to say without having the need to purchase other hardware wallets. You can hide wallets behind this passphrase to confuse potential thieves from stealing your cryptocurrency. Whether that is from a virtual or physical attack.
Here is a good video explaining the passphrase below:
Trezor Review: Reassurance Against Tampering
Sometimes hardware wallets are tampered with. This either happens because people do not order from the Trezor store itself. Or the devices are tampered somewhere along the way before they get delivered to customers. As a result Trezor has placed seals on the boxes of their devices for additional security.
The boxes of both Trezor models are different. The Trezor One has a number of seals on the box itself. One seal spans across the edge of the box and destroys the box when opening. This gives reassurance that the device inside has not been tampered with.
With the Trezor model T there are no seals on the box itself but at the bottom of the device where the cable connects. You will notice if the device has been tampered with because the seal leaves a residue behind on the device. This makes it more secure.
Make sure the seal is intact when you receive your device. Otherwise you should contact Trezor support and ask them to replace the device.
Trezor Review: Comparing Trezor One and Trezor Model T
Looking at the two devices you will notice the main difference is in the size. The Trezor model T is larger and its display is a touchscreen. On the other hand the Trezor One has two buttons instead to make your selection.
Both models can also be used for two-factor authentication U2F as you can see here. However the Trezor Model T is the only one with FIDO2 2FA as you can see here. This is an upgrade of the U2F standard.
Two-factor authentication allows you to securely access accounts. Like for example Twitter, Google and many other platforms.
If you use 2FA with a hardware wallet across all your accounts you will have no account take overs. That is to say even if hackers get hold of your passwords.
Therefore your Trezor hardware wallet device can be used not just to secure your cryptocurrency. However it can be used to secure your accounts of various platforms. As a result of the differences between the Trezor models they come with a noticeable price difference.
Why is there such a large price difference?
The Trezor model T is the next generation cryptocurrency hardware wallet. It is newer than the Trezor model One.
As mentioned previously the Trezor model T is slightly more secure because of the touch screen. The model T also has a larger display so it is a lot better for accessibility purposes. This comes in handy for when you need to verify wallet addresses during transactions.
Additionally the Trezor model T has more features than the Trezor One. This is because of the MicroSD card slot. However this is more for future use.
You can use this slot when you have signed documents or signed for coins offline. After that you can upload the images on the SD card directly onto the blockchain. It will be recorded as a smart contract.
Comparison Table: Trezor One and Model T
| Trezor One | Trezor Model T |
| Button | Button |
| Security: Pin code and 12, 18 or 24 word recovery phrase and optional advanced passphrase | Security: Pin code and 12, 18 or 24 word recovery phrase and optional advanced passphrase |
| Certification: CE and RoHS. Meets all quality, reliability and environmental standards | Certification: CE and RoHS. Meets all quality, reliability and environmental standards |
| Two push buttons | Touchscreen |
| Screen: Bright OLED 128×64 pixels | Screen: Bright colour LCD 240×240 pixels |
| Size: 60mm x 30mm x 6mm 2.4in x 1.2in x 0.2in | Size: 64 mm x 39 mm x 10 mm 2.52 in x 1.54 in x 0.39 in |
| Weight: 12g / 0.42 oz | Weight: 12g / 0.42 oz |
| USB cable (supplied in the box) | USB cable (supplied in the box) |
| Compatible with desktop and android mobile phones | Compatible with desktop and android mobile phones |
| U2F authentication token | U2F authentication token |
Which Cryptocurrencies Does Trezor Support
Trezor hardware wallets support up to 1800+ coins. However the Trezor model T supports a tad more cryptos than the Trezor One. That includes Cardano, Monero and Ripple among others.
Note that most cryptocurrencies are not supported natively on the Trezor hardware wallets. That is to say that you have to pair your Trezor wallet with other software. So for example with Monero or Cardano you have use a software wallet with the Trezor device.
You could use only the software wallet as opposed to using the Trezor device as well. However your crypto will be more secure if you use your Trezor device. After all that is the point of having a hardware wallet.
Most importantly, the most popular coins like Bitcoin, Ethereum and Litecoin are supported by both models.
Trezor Review: Customer Support
Trezor customer support are okay overall. They are responsive to customers. However they are not always efficient. This is because there are times when they have a large influx of support tickets to attend to.
Their support is better than support offered by most other cryptocurrency related businesses. Whether that would be other hardware wallets, exchanges etc.
Overall their hardware are pretty robust. So the majority of customers do not have any issues with devices. In fact there are not that many complaints for Trezor online. Especially considering the company has been around since 2011.
Trezor Review: Usability
Overall the Trezor One and Trezor Model T have made owning crypto easier. Plus they secure your cryptocurrency well. So usability wise they are good overall.
However there is always room for improvement. The Trezor Model T touch screen is a goodish size, except if you have stubby fingers. Then it is more difficult to press the options you want to select on the screen.
At times there are several options displayed at once. As a result there is less room for error. Which means you have to make sure you have more precise coordination.
What are people saying about Trezor?
The crypto community really liked both wallet models when they first launched. They were the solution the crypto community was looking for when it came to securing their crypto. Especially in the early days when there were no solutions.
There are a lot of favourable reviews about the hardware wallets themselves and SatoshiLabs.
A bitcoin safe that fits into your pocket
Forbes
Bitcoin ‘vault’ Trezor lives up to its name
Coindesk
Trezor Review Conclusion
To conclude this Trezor review, Trezor have great hardware wallets. Both hardware wallets are highly secure. Albeit the Trezor model T is somewhat more secure than the Trezor One. This is mainly due to the Trezor model T having a touch screen.
Additionally Trezor overall have moderately good customer support. So if you have any issues with the device or any other issues you will resolve it fairly quickly.
You also get two-factor authentication so you can use your Trezor device not just as a hardware wallet. This means you have upgraded authentication.
With Trezor model T you do not need to buy a security key like for example Yubikeys. This is an added bonus with purchasing this Trezor wallet.
Moreover it supports some more cryptocurrencies than the Trezor One. The drawback of the Trezor Model T is that it could use a slightly bigger touch screen for usability. Mostly this applies for those with stubby fingers.
The way we see it is Trezor One is more like an entry level wallet for beginners. You can also purchase it as a spare wallet should something happen to your main wallet.
On the other hand the Trezor model T is viewed as a wallet suitable for cryptophiles. Essentially those people that are deep into cryptocurrency. The ones that like additional features. They also tend to use their wallets for purchasing all sorts of different cryptos.
Regardless of which Trezor wallet you pick you are going to benefit from the additional security. If you would like to get a Trezor hardware wallet you can visit the Trezor store.
