So are you planning to buy Trezor Hardware Wallet?
Well, If you are looking to buy a hardware wallet to store your cryptocurrencies and still confused then this article will sort out your issue to an extent.
What is Trezor Hardware Wallet?
Basically, Trezor is a Bitcoin hardware wallet which easily gets connects to your computer and store your Bitcoin and cryptocurrencies private keys and signs transactions.
In case you don’t know, Trezor is the world’s first Bitcoin hardware wallet, launched in 2014 by Satoshi Labs. They are also the first wallet brand to support passphrase feature on their devices.
In simple terms, Passphrase is a feature that secures your funds even if your device gets stolen and that’s what makes Passphrase a cool feature.
List of Cryptocurrencies That Trezor Supports:
- BITCOIN CASH
- ETHEREUM CLASSIC
- ERC-20 TOKENS (TOKENS THAT ARE CREATED ON ERC-20 PLATFORM/ETHEREUM PLATFORM) such as CIVIC, GOLEM etc.
You can simply set up your Trezor for the first time using any of three methods that include via myTrezor.com, the Chrome extension, and the command line.
Setup process involves setting the PIN code, Device name, and Password.
In simple language, myTrezor.com is TREZOR’s own web wallet which works in online mode only and on the other side the Chrome extension is an app installed on your browser and can be used as offline mode as well.
It is recommended to use the Chrome extension to set up your wallet so that your privacy cannot be compromised at any cost.
Compatible with following software wallets:
At the time of writing, TREZOR hardware wallet is compatible with these software wallets namely:
- MULTI-BIT HD
- GREEN ADDRESS
- GREEN BITS
How Secure Is TREZOR Hardware Wallet?
As far as the security quotient goes, Trezor wallet has been the pioneer in hardware wallets for Bitcoin. That said, Trezor provides top-level security for Bitcoin as you can easily control the private keys, so an entire wallet can be backed up with the 24 words generated on setup.
Also, the original 24-word seed can be generating using the RNG from the device and computer system. It is generated offline and displayed on Trezor’s screen.
You can also add passphrase to the 24-word seed for an extra layer of security, but you need to remember the passphrase because seed is not enough to recover the wallet once the passphrase is enabled.
Here you can also read, how TREZOR handles security threats.
You can buy Trezor on Amazon
You can alternatively buy Ledger Nano S on Amazon
- Screen make things easier
- Quite Secure
- Passphrase feature
- A bit expensive for budget oriented consumers
If you are planning to put your money in cryptocurrencies for long-term investment purposes then you should only go for hardware wallet for storage purposes. That said, if your budget is comfortable then you should definitely go with Trezor wallet as it is quite simple to implement and comes with remarkable security features.