As crypto enthusiasts worldwide, there’s no denying that our digital wealth deserves some top-notch protection. And for that, we turn to hardware wallets.
Among them, one name that keeps popping up is the Trezor Model T.
Trezor Model T touts itself as the ultimate fortress for your digital fortunes, and it certainly has some cool features to back that claim up. But, like everything in life, it’s not without quirks.
So, stick around as we dive headfirst into the reality of using the Trezor Model T.
TLDR of Trezor Model T Review
Here is a TLDR version for those looking for a quick rundown of what Trezor Model T has to offer:
- The Trezor Model T is a globally acclaimed cryptocurrency hardware wallet.
- Features a full-color, large touchscreen display for user-friendly navigation.
- Boasts top-tier security for safe storage and transactions.
- Purchasing and exchanging assets and tokens is possible directly through the Trezor Wallet app.
- It’s beginner-friendly with a straightforward setup and easy-to-use interface.
- Supports over 1000 crypto coins and tokens, including Bitcoin, Ethereum, and Ripple.
- The Trezor Model T costs $215 before tax and shipping. This hardware wallet is relatively pricey compared to the competition, which could be a deal breaker for most users.
- Also, the fiat-to-crypto exchange feature is only available for a few cryptocurrencies.
History of Trezor Model T
Trezor Model T is a product of SatoshiLabs, a pioneering cryptocurrency company dedicated to creating secure hardware and software solutions for blockchain-based digital assets.
SatoshiLabs was co-founded by two well-known figures in the cryptocurrency world, Marek “Slush” Palatinus and Pavol “Stick” Rusnak. The company is based in Prague, Czech Republic.
Marek Palatinus is a software architect and the creator of the world’s first cryptocurrency mining pool, Slush Pool. On the other hand, Pavol Rusnak is the CTO of SatoshiLabs and a respected security engineer.
The journey of Trezor began when SatoshiLabs introduced the world’s first Bitcoin hardware wallet, the Trezor One, in 2013.
Following the success of Trezor One, SatoshiLabs introduced the Trezor Model T in 2018. This second-generation hardware was designed to be an intuitive, all-in-one solution for managing various digital assets in a secure environment.
Basic Setup of the Trezor Model T Wallet
Setting up your Trezor Model T wallet right out of the box is easy. Here is a simple step-by-step process to get up and running.
Step 1: Unbox Your Trezor
Once you’ve got your brand new Trezor Model T, the first step is to unbox it. You’ll find the device, a USB-C cable, a couple of stickers, and a small booklet for writing down your recovery seed. It’s all very neat and tidy.
Step 2: Plug It In
Use the provided USB-C cable to connect your Trezor Model T to your computer. A welcome screen should appear on the device, asking you to visit the Trezor website.
Step 3: Visit the Website
So, hop onto your web browser and head to trezor.io/start as the device instructs. You’ll see the option to select the Trezor Model T there.
Step 4: Install the Firmware
When you first receive your device, it will not have any firmware installed for security reasons. Instead, the website will prompt you to install it. After installation, the device will automatically restart.
Step 5: Create a New Wallet
On your screen, click ‘Create new,’ then wait a bit. Your Trezor will display a unique code known as a recovery seed.
Step 6: Write Down Your Recovery Seed
The recovery seed is a list of 12 or 24 words that will be your only backup if anything happens to your Trezor. Write down the words exactly as they appear, in the exact order.
Step 6: Set Up a Pin
Your Trezor will ask you to set up a PIN code. Then, you’ll enter it directly on the device’s touchscreen. This is another layer of security for your device. Once the pin is set up, you can start using the wallet.
Trezor Model T Features
Let’s talk about why the Trezor Model T shines in a sea of hardware wallets. First off, that touchscreen display is a total game-changer.
Compared to the Ledger Nano X’s two small buttons for navigation, the Model T’s color touchscreen is a breeze. In addition, it allows for easier and more secure PIN entry and transaction validation.
And you know what’s cool? The Model T supports a vast range of cryptocurrencies – over a thousand, in fact! This compares quite favorably with the Ledger Nano X, which offers support for over 1300 coins. This means you’ve got flexibility, whatever your crypto portfolio looks like.
Is Trezor Model T Safe?
Yes, the Trezor Model T is indeed safe and, in fact, ranks among the top-tier hardware wallets when it comes to security.
This wallet is built on the principle of zero trust, which means it doesn’t assume safety from any component of the system, not even itself. It confirms every action on its touchscreen, from PIN entry to transaction confirmations, keeping your secrets well away from your computer or smartphone.
Moreover, it’s based on open-source software, which means its security protocols and software infrastructure can be scrutinized by anyone, adding an extra layer of transparency and trust.
However, like all security solutions, it’s not absolutely impervious. User behavior also plays a huge role.
That’s why it’s critical to keep that seed secure.
When it comes to price, the Trezor Model T leans more on the pricey side compared to other hardware wallets such as the Ledger Nano X. It is priced at $215, whereas Ledger Nano X costs $150.
Conclusion: One of the Best
And there you have it! The Trezor Model T, with its blend of top-tier security, user-friendly interface, and wide crypto support, sets a high bar in the world of hardware wallets.
While its price tag is on the higher side and the responsibility for security also rests on the user’s shoulders, the trade-off is a robust and trusty digital vault for your valuable assets.
So, whether you’re a newbie dipping your toes into crypto or a seasoned trader, the Trezor Model T could be your reliable partner in your journey through the thrilling world of cryptocurrencies.