Trezor Wallet Review

This hardware wallet was released back in 2014 and was the original hardware Bitcoin wallet which offered users the chance for cold storage of their keys.

It also presented them with the convenience of a hot wallet for when they needed to make any transactions.

Trezor Wallet Benefits

Features and Benefits

Security is the top need of any cold storage wallet, and the TREZOR can be backed up by using the 24 words which are generated on your first set-up. A pin code is required on set-up, and also each time you make a transaction.

One feature is the power of two which takes place in between incorrect guesses, and if you made 30 wrong guesses, it would amount to around 17 years before the next attempt.

One extra security feature is a passphrase you can add to the 24-word seed. This is, in fact, the 25th word so the device cannot be accessed without knowing this.

Trezor Wallet FeaturesThe seed without this extra word isn’t enough for access so if you lost your device, it is almost impossible for anyone to access it.

TREZOR has another feature which is the Hidden (Double) Wallet which allows users to add an unlimited amount of hidden wallets.

With each passphrase you create, it also creates a new hidden wallet.

Using this in the real world means you can have one account which contains a small amount of crypto while there is another hidden account which includes your main portfolio.

If for any chance a hacker was able to break into your device, they would see the account which is unhidden, and not look any further for the hidden account.

You can also erase a Trezor which is basically a reset of the device and means you need to start afresh. This leaves no traces of wallets which were previously stored.

When setting up the device, it is straightforward and when you are ready to connect the device to the computer you need to have a bridge which is performed by the TREZOR Chrome extension. This allows the device to communicate with the computer.

TREZOR states a weak point with password managers is the master password, and for this reason, the TREZOR password manager is the key to your passwords itself.

Each password is encrypted separately with a unique key, and all of these are generated on the device which they never leave. This means they can never be seen on the computer and make it impossible for hackers to penetrate.

Pros

  • Overall affordable price for so many features
  • Very high Multi-currency support for all popular cryptocurrency
  • Passphrase security
  • Easy to set up and use

Cons

  • Complicated PIN.
  • Limited transaction opportunities. (Must be plugged in to use)
  • Supplied with a very short USB cable which can be restrictive

Pricing

The cost for a TREZOR hardware wallet is currently $99, or you can purchase them in sets of three for $276. These can be bought with BTC directly from the company website.

If you wish to use a credit card or bank account, you can buy from TREZOR Amazon.

Like other wallets which are hardware based, you should never buy TREZOR wallets from any other sources apart from the company website of Amazon.

The company also offers a TREZOR promo code, but such is the demand they might not be up for long.

Supported Coins

Because TREZOR is the original wallet, you would expect the company to support plenty of coins, and in this department, it doesn’t disappoint.

The full list of TREZOR supported coins is well more than 600. So apart from BTC, Trezor Bitcoin Cash and Trezor Ethereum support, here are a handful of other altcoins they support.

  • Dash
  • Nem
  • Zcash
  • Qtum
  • Golem
  • Storm Token
  • Blockchain Certified Data Token
  • Substratum
  • And many…many others.

DesignTrezor Wallet Design

TREZOR is a small car fob-sized device which is small and handy and can plug directly into a PC.

Because of its size, you can easily carry it on your keychain, and with the high level of security it offers, you can be safe in the knowledge if it fell off, no one could break into it.

It is now available in two models, and these being the TREZOR One and the TREZOR Model T.

The TREZOR One also has some available accessories such as silicone or leather cases and extra-long USB cables which are handy because the one in the box is quite short.

TREZOR Vs. Ledger Nano S

One of the most significant differences between TREZOR Vs. Ledger is the amount of support they have for cryptocurrencies.

TREZOR does support plenty, but this might not be full support, so it is worth checking to make sure any coin you wish to store has full support.

TREZOR Vs. Ledger Nano SMany coins on TREZOR require the use of MyEtherWallet or others depending on the currency, whereas the Ledger supports them all by default.

The number of coins supported is also a difference and Ledger comes out on top. TREZOR Ripple support is nowhere to be seen. However, it has full support from the Ledger.

Overall when you look, there is little to choose between the TREZOR Vs. Ledger Nano S debate apart from personal choice and full support for the most types of coins.

Final Verdict

This wallet has been at the top of its game since it was first introduced, and with good reason. It offers some of the best security for any device to hold all of your cryptocurrencies on.

This being said, if you only have a small number of coins, it might not be the best option, but, if you are a big investor or have a substantial amount of cryptocurrencies, then it is a viable option to make sure they are all secure.

You can see that it doesn’t matter if your TREZOR is lost or stolen, you can recover your funds as long as you have written down your 24-word recovery password.

It is easy to use, and still sets the way for many other wallets to follow.