Cold (hardware) storage is the most secure method of asset protection available today. Restricting access to funds via the Internet and storing them on independent physical devices is the most secure method of storing cryptocurrencies, used by both custodians — legal entities that provide services for the responsible storage of digital assets — and ordinary users who want to ensure maximum protection for their savings.

Trezor’s cryptocurrency cold storage solutions are among the oldest and most recognized in the world. In our Trezor hardware wallet review, you will learn about the history of its creation, features of its application, disadvantages and advantages compared to competitors, as well as models of the device available for retail investors today.

Trezor: The World’s First Hardware Cryptocurrency Wallet

So, cold wallets are network-isolated, standalone devices designed to securely store private keys. Each time you need to confirm transactions, the device is connected to your smartphone or computer and then disconnected. Private keys never leave the hardware wallet.

The first Trezor solutions were launched more than a decade ago, in 2014. The following attributes are unique to Trezor hardware wallets

• open source;
• regular crowdsourced code reviews to improve security features. 

Trezor is a cryptographically secure hardware and software solutions company. SatoshiLabs, Trezor’s parent company, was founded by two Czech developers, Marek Palatinus and Pavol Rusnak. Marek and Pavol created the initial concept of Trezor cold wallets (the word “trezor” means “safe, vault” in Czech) and first introduced the Trezor One prototype to the public at the Bitcoin 2014 conference. Then, in 2016, after passing beta testing, the first mass deliveries of new unique security devices began. 

To date, the manufacturer is represented in many countries, the wallet is offered in four versions, which are actively sold around the world. The headquarters of the international company Trezor remains in the Czech Republic, in Prague. Today, the list of cryptocurrencies supported by Trezor wallets includes thousands of coins, and the number of users — millions of people. 

Trezor crypto wallets were created as a safe alternative to software exchange wallets, and in fact, they made a real revolution. After all, using hot wallets, owners do not own their funds, as the private keys are technically managed by the trading platform. And the founders of Trezor have created a new, unique model for storing cryptocurrencies, fundamentally changing perceptions about the safe storage of digital capital.

Secure Cryptocurrencies with Trezor 

Let’s understand how exactly Trezor ensures the security of its cryptocurrency wallets, gaining wide recognition and popularity among users.

• Open source security protocol. SatoshiLabs has actively engaged the community to find vulnerabilities since the prototype was created. This allows users to ensure that there are no vulnerabilities in the solution and to directly participate in its development. 
• The Secure Element included in the device design prevents physical attacks of various types (power drain, cold boot, and others).
• The patented Multi-Share technology, which splits and encrypts the recovery phrase, reduces the risk of its selection by fraudsters. Trezor’s developers have also created SLIP39 to recover the phrase (formerly known as Shamir’s Secret-Sharing) and restore access. 
• Within three months after the purchase of Trezor cryptocurrency wallets, all data about the buyer is deleted from the systеm without a trace, leaving no trace of the device’s connection to the new owner’s personal information.  All models are delivered to the buyer in a complete sealed package, guaranteeing the absence of any unauthorized contact with the devices.

Trezor hardware wallet: advantages and disadvantages

Why you should choose Trezor for secure cryptocurrency storage:

• Secure password generation and storage. One of the main advantages of using Trezor to store cryptocurrency is the use of a secure cryptographic chip that generates and stores a private key. It is virtually impossible to hack.
• Anonymity. The gadgets are equipped with a change of address function, which makes it difficult to track the user through the history of his transactions. The main address is not displayed when making transactions, and the counterparty sees only temporary addresses generated just before the transaction.
• “Multi-currency and high interoperability. The wallet allows to perform transactions with more than 1500 cryptocurrencies, the integration of Trezor with other services provides opportunities for joint work with DeFi platforms and other crypto wallets.
• Developer openness. The availability of the software source code fosters the community’s trust in the company.
• Prompt support and service from Trezor. In case of any questions or difficulties with the operation or maintenance of devices, users can contact the customer support service via live chat on the official website.

If we talk about the disadvantages of Trezor, they can not be called essential. Rather, they are some peculiarities that become apparent when compared to hardware wallets of its main competitor — Ledger company.

Trezor vs. Ledger: Hardware Wallet Comparison

The two leaders in the hardware wallet segment offer reliable and functional devices. Trezor was the first to enter the market and offers open source software solutions and user-friendly interfaces, while Ledger pioneered mobile integration via Bluetooth and became known for its secure element chip technology.

Let’s try to compare the two vendors’ products based on basic features:

• Operating systеm. Unlike Trezor, Ledger offers the author’s BOLOS OS.
• Number of supported cryptocurrencies. Ledger claims 5500+, while Trezor claims 1500+.
• Cost of the device. Trezor crypto wallet prices range from $49 to $169, Ledger from $79 to $400.
• NFT support. Ledger offers support for non-replaceable tokens through its own Ledger Live app, while Trezor only offers support through third-party integration.

In general, user reviews of Trezor wallets indicate that they are attracted to its adherence to the principles of democracy and openness, as well as its value for money. 

Model range 

Trezor hardware cryptocurrency wallets are available in four versions:

• Model One;
• Safe 3;
• Safe 5;
• Model T. 

Trezor Model One 

This is the first and basic model, the simplest and most affordable. It provides the minimum functionality necessary to conveniently and securely store cryptocurrencies in a hardware wallet. It has push-button controls, a small screen that displays transaction details, and is available in two colors.

Trezor Safe 3 

This redesigned version offers higher security (new open architecture EAL6+ chip) and reconfigurable features. It supports the Shamir standard (with the ability to split recovery sets into several separate parts). It has a tempered glass screen for increased protection against damage and is key operated.  

Trezor Safe 5 

This model is a modern device based on the proprietary EAL6+ cryptographic security chip, equipped with a touchscreen with tactile feedback when confirming operations (Haptic Feedback Module is used). This version uses an updated security standard that solves the problems of previous models. 

Trezor Model T 

In fact, this model is a simplified and cheaper version of the previous one. The device is also equipped with a color touchscreen display. If you compare Trezor One and Trezor Model T, the latter version presents a significantly higher number of supported cryptocurrencies, it is slightly larger in size and weight. Model T has been on the market since 2018 and has a high level of trust among users.

Where to buy the original Trezor wallet? 

The manufacturer recommends buying cryptocurrency wallets only from the official website or authorized distributors. 

How to set up and use the Trezor wallet

1. Connect the device to your computer according to the documentation provided (“Trezor Wallet: Instructions for use”). If you see the home page prompt on the screen, the connection was successful.
2. Install the required software by following this link. 
3. After the gadget has flashed, you will be prompted to create a wallet. 
4. Carefully go through all the steps to set up security and PIN code in Trezor and follow the instructions. If your wallet is lost or damaged, you will need a cid phrase to restore access. 

During use, the device must be connected to a computer with the appropriate software (Trezor Bridge) installed. Transactions and balance tracking are done through the Trezor Suite application. The operator charges minimal commissions. The wallet allows you to choose the speed of transaction confirmation and the amount of blockchain commission from low to high.

How to protect your crypto assets with Trezor 

• Perform regular backups. Keep encrypted backup copies in hard-to-reach places.
• Systematically updаte the firmware of your Trezor wallet.
• Before attempting to restore access to your Trezor wallet on your own, study all the necessary information on the official website of the company’s manufacturer or consult with a customer support manager.
• Use the wallet password only for the device itself. Do not use similar character sets to log in to other accounts.
• Do not save your passphrase and PIN code in notes on your smartphone, computer, or camera picture. Better yet, write them down on paper and hide them in a safe place.
• Protect your screen information from prying eyes.
• Download updates only from official sources. 
• If you notice suspicious manifestations of your gadget, incorrect balance display, or other oddities — notify tech support and the community. 

In conclusion

Trezor hardware devices have earned the trust of millions of users over the years of their existence on the market. Cold storage is the optimal way to store cryptocurrency capital, which will protect you from the actions of scammers. No matter how experienced a user you are, a secure Trezor cryptocurrency wallet will be a good choice for you.

Thank you for reading our article. Invest safely and profitably!

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