The most recent hardware wallet produced by SatoshiLabs is the TREZOR Model T. The TREZOR Model T has a touchscreen and no physical buttons, in contrast to the TREZOR One, its predecessor. There are still more differences, which I will highlight in the test report that follows.
Pros & Cons Of Trezor Model T
- Large touchscreen display in color
- Easy to use
- Private keys isolated in Trezor Model T with PIN and passphrase protection
- Web browser, Desktop OS, and Android supported
- Supports over 1000 coins and tokens
- Purchase cryptocurrencies with fiat and exchange them within the wallet
- No support for iOS
- More expensive than most other hardware wallets
- Only select cryptocurrencies can be purchased with fiat
- Losing the 24-word recovery phrase in conjunction with the loss of your device means you lose access to, and therefore loss of, your assets
Trezor Model T Vs Ledger Nano X At A Glance
Most people agree that the Trezor Model T is among the best hardware wallets available. Ledger’s Nano X is often used as a comparison. Which wallet is the best is a hotly contested issue.
In general, the Trezor Model T gets points for having an easy-to-use touchscreen and working with cutting-edge software wallets like Exodus, while the Nano X gets points for being significantly less expensive and having bluetooth (even though bluetooth is somewhat contentious in the crypto community). Excellent security is provided by both wallets. Here’s how both wallets physically look:
Beginner Perspective of the Trezor Model T Wallet
The Trezor Model T is a great cryptocurrency hardware wallet for beginners because it’s simple to set up and use, allows you to buy assets and tokens directly through the Trezor Wallet application, and lets you exchange your assets and tokens within the app.
Trezor Model T Hardware Wallet
This combination of features makes it a good option for cryptocurrency beginners because they do not need to register with an exchange in order to make their first purchase of cryptocurrency coins or tokens, something that the Ledger hardware wallets and the majority of other software wallets do not offer. Comparing Trezor to Ledger hardware wallets, the same thing can be said about the capacity to trade or swap cryptocurrencies.
The Trezor Model T is a great cryptocurrency hardware wallet for beginners as long as they aren’t put off by the initial cost to purchase it (it’s one of the most expensive cryptocurrency wallets on the market), ease of setup, and top-notch security.
Finding the Trezor Model T too expensive to purchase? If you want to stay within the Trezor ecosystem, the Trezor One is a respectable substitute.
History Of Trezor
Two programmers, Pavol “Stick” Rusnak and Marek “Slush” Platinus was looking for a way to let anyone store their bitcoins safely and without any kind of intermediary. Trezor was created as a result of the goal of creating a compact, dedicated computer that could store private keys in a secure, secluded location.
In 2013, Stick and Slush established SatoshiLabs and started a crowdfunding campaign. In 2014, the Trezor One hardware wallet was made available to the general public. The Trezor Model T hardware wallet is an upgrade to the original Trezor, the first hardware wallet to hit the market and the first to provide seed recovery and passphrase security.
Due to its convenience and security, Trezor has gained enormous popularity in the cryptocurrency community. Support for the Trezor Model T is also excellent, and the staff is friendly and eager to help customers. Customers in more than 150 nations have purchased hundreds of thousands of Trezor hardware wallets. The Trezor Wallet app’s popularity is increased by the ability to buy cryptocurrency with fiat and conduct exchanges inside of it.
Trezor Model T Features
Ledger Nano X does not have a large touchscreen display in full color like the Trezor Model T does. The touchscreen is frequently cited as the primary selling point of Tezor Model T reviews. Reviewing crypto addresses and entering pin numbers are made much simpler by the touchscreen.
Although the Trezor Model T is more expensive than Ledger’s top-of-the-line Nano X, it provides roughly the same level of security and gives users a lot more power. This is due to the fact that cryptocurrency like Bitcoin, Ethereum, and Ripple can be directly purchased using fiat through the Trezor Wallet app, and these purchased assets can then be exchanged inside the wallet app.
Users can follow step-by-step instructions on all aspects of the purchase and exchange processes on the Trezor website (Trezor Support).
The Model T can also be used for FIDO2 and U2F authentication; see the security section for more information.
What’s Inside The Model T Box For Trezor?
The Trezor Model T comes packaged with the usual assortment of wallet accessories, including a USB-C cord for charging and connecting to a computer or phone. Trezor also offers a few extras on their own, including lanyards and various charging/sync cords.
Here’s the complete list of everything that comes in the box:
- Trezor Model T
- Model T magnetic dock
- USB-C cable
- 2x Recovery seed card
- Trezor stickers
- Everything that comes with the Trezor Model T
Which Digital Currencies Can I Use?
Trezor supports over 1000 crypto coins and tokens including:
- Bitcoin Cash
- Ethereum Classic
Safeness Of The Trezor Model T
Your private keys are kept offline and segregated inside the device, making it more challenging for them to be compromised. All transactions and configuration changes made to the hardware wallet must be verified by depressing the physical buttons on the wallet. A PIN code is necessary to access the hardware wallet.
The Trezor Model T supports creating a passphrase in addition to a PIN. By utilizing this feature, you can create a separate wallet account where you can store any assets you desire. As a result, even if your PIN is stolen, the accounts and assets you have stored with the additional passphrase cannot be accessed.
Finally, the Trezor Model T has an option to use a 12-word recovery phrase only, but instead uses a 24-word phrase that is longer than the typical 12-word phrase used for software wallets. This increases the difficulty of compromising your device and, consequently, your assets. Visit this page for more details on Trezor’s enhanced passphrase security.
Trezor is also Universal 2nd Factor (U2F) compatible, enabling you to use your Trezor Model T as a hardware security token for authenticating logins to services like Dropbox and Google. Check out this link for more information on U2F.
Additionally, the Trezor Model T supports FIDO2 Authentication, which has features comparable to U2F but essentially enables you to log into supported websites and services using your Model T as the authenticator rather than a password.
How To Set-up Trezor Model T
According to the instructions in the Quick Start Guide and on the packaging, the TREZOR Model T must first be connected to a computer. The hardware wallet’s display then displays a welcome message and a prompt to visit the website trezor.io/start.
Install the TREZOR Bridge First, the appropriate TREZOR bridge must be downloaded, depending on the operating system. It works with Windows, Mac OS, and Linux.
The hardware wallet and computer are connected by this. This program operates in the background. The page needs to be reloaded after the software has been installed. You’ll now be taken directly to your TREZOR wallet. Installing the Firmware The TREZOR Wallet will automatically offer to install the TREZOR Model T firmware as soon as it recognizes the device.
The firmware for the TREZOR Model T is not included. By doing this, the most recent firmware will launch right away. Additionally, each time the firmware starts up, it is authenticated. Additionally, each time the firmware starts, it is authenticated. You are immediately alerted if something has been tampered with. Start the installation by clicking the button.
Now that you have the option, you can either create a new wallet or import an older one. The latter procedure can be used to import any BIP39 Recovery Seed. For instance, switching from the TREZOR One to the new model or from a rival product like the Ledger Nano S is possible. It is advised to create a new wallet, though, unless there is no question that the prior one was secure. See this review’s Security section to find out how to import an old wallet. The next step involves creating a new wallet.
After a click on “Create new” the hardware wallet is ready for use within a few seconds. The setup process needs to be finished and the hardware wallet secured, but there are still some steps that are missing. Additional Steps of the Setup Process A message stating that a backup is necessary is now displayed on the hardware wallet’s display as well as the TREZOR Wallet.
Of course, the backup is the most crucial step in the setup process and comes first. In the event that the hardware wallet TREZOR Model T is lost or has a problem, this is designed to prevent the loss of all coins. because you can access all of your cryptocurrencies once more by importing this backup into other hardware or software wallets.
Trezor One Vs. Model T: Software
Users of Trezor have a few options for getting access to their money, as was briefly mentioned earlier. In the early days, Trezor users could only access the funds on their Trezor via the Trezor web wallet, as you can see below:
Trezor Bridge is the name of the program that powers both the Trezor One and the Model T for the web wallet. Quite appropriately, this piece of equipment serves as a link between the internet and whichever device you’re using. As was previously mentioned, this is essential to protect the data that is stored because the hardware wallet itself is disconnected from the internet.
Once installed, you shouldn’t need to do much with the program since it is made to run in the background. The Bridge was updated in 2018 to take the place of the beloved Google Chrome extension, which Google had decided to stop supporting, forcing Trezor to create a replacement.
Trezor Frequently Asked Questions
Where To Buy Trezor Model T
It is recommended to buy all Trezor hardware wallets directly from the Trezor website. The same is true for any type of hardware wallet; as we’ll cover in the section below, it’s never a good idea to buy cryptocurrency wallets used or from unauthorized sources because doing so increases the risk of money being stolen.
Is The Trezor Model T Hackable?
No Trezor has ever been remotely compromised without a user’s error, according to known cases. Trezors cannot be remotely accessed by hackers because the private keys are stored offline. In an effort to trick users into disclosing their private information, hackers have launched social engineering and phishing attacks, many of which have been successful. Ledger and Trezor have both experienced data breach hacks where client emails were compromised, resulting in additional phishing attempts, but neither of these incidents directly resulted in money being stolen.
An individual who has access to a personal Trezor device may attempt to guess the pin and gain access that way. Always keep your hardware wallets hidden with a strong pin or password protection because there are stories of hackers being able to hack into a device once it is in their possession using sophisticated engineering tools.
Since Trezor patched that exploit, no Trezor Model Ts are known to have been compromised. There was a well-known instance of a skilled hacker manipulating the pin on a Trezor One that he had in his possession. In other words, nobody has ever been able to remotely hack into a Trezor hardware wallet.
How Many Coins Can The Trezor Model T Store?
Trezor has no storage limit, in contrast to Ledger. Every supported coin can be stored on a Trezor Model T.
How Many Coins Can The Trezor Model T Hold?
More than 1,800 coins and tokens can be supported by the Trezor Model T. The Trezor Model T Supported Coins page has a complete list that can be accessed. However, this figure includes coin support from third parties, as was mentioned earlier in the Trezor Model T section.
Trezor Model T Security
Your Trezor Model T might not be secure if a highly motivated and skilled attacker managed to physically take it. Though the threat exists, this attack has never been carried out outside of a laboratory. A Trezor Model T will keep your coins very safe in almost all circumstances.
This Trezor One vs Model T comparison has covered a lot of ground. In the world of hardware wallets, Trezor lives up to its enviable reputation as a major player and top manufacturer. Both of its models deliver on their promises to protect your satellites and provide you with peace of mind. Then there are the previously mentioned extra features, like the password manager, cryptocurrency exchange, buy and sell functions, which enable you to use your wallet for purposes other than simply hoarding coins.
A fantastic flagship product is the Model T. The only drawback is its hefty price, which makes it by far the most expensive hardware wallet available. It offers a ton more than the Ledger Nano S, the older Trezor One, and the Ledger Nano X, which is primarily its rival.