Trezor is one of the most popular cryptocurrency hardware wallets in the bitcoin and blockchain community.
This one-of-a-kind two-part Trezor wallet review guide explains everything regarding your crypto holdings:
1) how to setup, use and trade/exchange/store coins with the first-ever secure cold-storage offline option
2) compare all Trezor technicalities and attributes to popular competitors, Ledger Wallet and KeepKey
Here is a brief outline of the Trezor crypto wallet specifications and SatoshiLabs company details:
- Official Wallet Name: Trezor
- Official Wallet Website: Trezor.io
- Official Wallet Login: Wallet.Trezor.io
- Wallet Models: Trezor One (original first-ever), Trezor Model T (touchscreen version)
- Storage Type: offline cold-storage USB hardware device (no battery)
- Creator: SatoshiLabs (Marek Palatinus aka Slush CEO, Pavol Rusnák aka Stick CTO)
- Location and Year Started: August 2014 in Prague, Czech Republic
- Coin Support: BTC,ETH,LTC,BCH,DASH,EOS,XLM,ADA,LINK,USDT,XMR,ZEC,NEM,ETC (1,093 total)
- Device Support: Windows, MacOS, Linux and Android plus Chrome internet web browser extension
- Wallet Integration: Exodus, Electrum, Mycelium, MEW, MetaMask, Copay, GreenAddress and Magnum
- Exchange Integration: Changelly, ChangeNOW, CoinSwitch, CoinMama
- Special Features: LCD Screen, 2 Factor Authentication, Password Manager, Labeling, 24-word seed
- Security Functions: Blind matrix PIN login, multiple passphrases, tamper-evident holographic seal
- Extras: Money Back Guarantee, Lightweight, Compact, Intuitive Interface, White/Black Colors
- Trezor Wallet Price: the cost of Trezor ONE is $55 USD and the Trezor MODEL T is $169.99 USD
- Accessories: InCharge Portable USB-C Cable, Mirco USB, Leather / Silicone Case, Cryptosteel
- Social Profiles: Twitter, Facebook, GitHub, Reddit, Instagram, LinkedIn
- Company Contact Details: Email firstname.lastname@example.org, Phone +420 774 555 756
Trezor goes by the tagline of the world’s first and most trusted hardware wallet, offering a no-third-party valuable way to store your cryptocurrencies, even if you open it up on a compromised computer.
For those that are looking to get involved in the world of cryptocurrencies, there a number of moving parts that need to be considered before getting down to really capitalizing on the benefits that come with using them. The next wave of adoption inside the bitcoin industry is ‘smart custody’. And as the war on storing private keys continues, from institutional investors to retail speculators; how you use, store and protect your chosen cryptocurrency coins all comes down to opening up a wallet on a dedicated device the right way.
One of the fundamental features bitcoin brings to the forefront is removing the middleman, which means self-custody education of a cryptoasset has gone up in extreme importance in its first decade. Any new user or existing buyer, investor or even HODL-er really needs to take time to consider is what kind of wallet works for the kinds of crypto you’re interested in, and whether it flows well with how you plan to use it.
For those who have already done some research and due diligence, or even just a tenuous Google search of the best kind of crypto wallets, you’ll likely have stumbled upon hardware wallets like Trezor.
The original USB hardware wallet by Satoshi Labs, who is a highly respected and reputable brand name in the space for developing advanced security measures for storing Bitcoin and other cryptoasset private keys, helps keep your bitcoin safe from hackers, malware, keyloggers and bad actors. There are many types of crypto wallets to buy and use; from hot wallets to paper wallets to mobile phone apps to online wallets to desktop wallets, hardware wallets are one of the most used choices due to its secure nature and giving you control over your money. Here is a simple summary highlighting the variations in crypto wallet types.
Being one of the biggest brands in the budding bitcoin wallet market, Trezor boasts a pretty impressive range of digital / cold storage wallets for a variety of users (long term investors and day traders). The crypto wallet company Trezor has been in business since August 2014, now over five years old. They’ve had a good amount of time to sharpen up their digital asset wallet to help make secure payments and manage your coin portfolio.
So what exactly is Trezor? Let’s dig more into the background of the company, what kind of products they provide for users and then transition into a side-by-side comparison of Trezor to KeepKey and Ledger Wallet.
What is Trezor?
Founded back in 2014, the Trezor wallet solution was first launched and made available to purchase in August 2014. Having been established by the Czech-based company, SatoshiLabs, has an extensive reputation as a hardware developer and prolific innovator for cryptocurrencies, with Trezor being the most prominent outlet. The company’s saying is, “we started out at peak innovation and intend on staying there.”
During its nascent stages, Trezor operated as a hard storage system specifically for Bitcoin (BTC) only. SatoshiLabs has a history of setting the bar since day one, making history thanks to creating the first-ever digital hardware wallet for a virtual currency.
Now, along with this flexible and robust digital/cold storage system, Trezor has continued to pioneer and engineer wallet functionality and features, providing ‘digital freedom’ versatility where users can not only store coins, but make purchases, sign transactions and manage their ID.
How to Unbox and Setup Trezor Wallet
Trezor is a single-purpose computer priding itself on an easy-to-use intuitive interface with unmatched security.
Here is a straight forward list of steps to do when setting up your Trezor crypto wallet for the very first time.
- Trezor ONE or Model T device with a tamper-proof holographic packaging seal over the box
- Type-C USB cable
- Getting started card (package)
- Magnetic dock
- Two different recovery seed cards for 12 words each
- Four stickers to show your Trezor loyalty
One you have unopened the Trezor wallet box and have all the pieces identified, let’s review how to start connecting your Trezor for use.
1) Visit trezor.io/start/ via your web browser and choose the One or Model T product option
2) Follow instructions and setup Trezor Bridge installation (works with Firefox and Chrome)
3) Plug your hardware wallet device into the computer and allow to recognize/sync up
4) Install the latest firmware software upgrades
5) Once updated, unplug and replug your Trezor to refresh the website and see welcome alert
6) Navigate to the ‘create new wallet’ button and then click ‘create a backup in 3 minutes’
7) Important: write the recovery seed words down exactly as they reveal themselves, in order
8) label your wallet how you see fit (and have options to setup homescreen display)
9) Create and assign a PIN number to login to prevent unauthorized physical access
10) start using your trezor bitcoin wallet!
Beginner’s Guide to Using Trezor: Getting to Know Your Wallet
Now that we have reviewed what the new Trezor wallet box contains and went over the first ten steps to setting up and installing your crypto hardware device, let’s cover some of the basic fundamentals of using Trezor to start loading and depositing funds as well as making or receiving payments right away.
To deposit funds, follow these four simple steps:
Select Account #1 and pick the crypto of choice on the drop down menu in the top left corner
2) locate and click on the ‘Receive’ tab to generate a new wallet address
3) find the ‘show full address’ button to display entire wallet address on the device, making sure it matches up with what is on the computer
4) copy the address and initiate the transaction from the original destination to your Trezor
You can also get the option to display the address in QR code form as well as generate multiple addresses.
As you can see, the whole onboarding process of getting set up on Trezor is made relatively simple thanks to the pretty straightforward approach that the company takes towards getting people set up using their range of wallets.
Regardless of what kind of model you decide to buy, these come with a seed key store, which serves as a means of storing your key phrases (which we will come to shortly).
So whether it’s a Model One or T, there are three ways to get onboarded – the first being through the official Trezor website, the second being the dedicated Chrome extension, or, lastly, going through the command line.
Now, depending on the kind of person that you are, whether you’re concerned about setting up online or offline, one of these options is better suited. For example, the MyTrezor website is done online, while the Chrome extension can be done offline. So if you’re security-inclined, using the Chrome is probably the better solution.
One of the only things that you’ll need to really take into consideration is the backup seed, which consists of 24 randomized words. Now, depending on the kind of model you buy, or if it includes CryptoSteel, you’ll have either a paper ledger or steel-based one.
Using this, make sure that you keep a note of these words and the sequence that they’re ordered in. You can also choose to get Trezor booted up on an online variant too, such as Mycellium or Electrum.
From Bitcoin to Hundreds
One of the ways that Trezor embodies great flexibility for users is through the increasing number of cryptocurrencies that users can store through its digital wallet. Having begun as a cold storage system for Bitcoin, this amount of digital assets has increased exponentially over the past few years..
As of the writing of this review, Trezor, across its ONE and Model T models, provides users with a pretty extensive number of digital assets. In total, Trezor has over 1,093 cryptocurrencies that users can store and pay with.
Along with thousands of cryptocurrencies already being available across various models of its hardware wallet, Trezor also has more than 30 additional digital assets that will be made available on either the Trezor One and Trezor Model T.
With such a large number of tokens making up the population these models, they literally allow for users to invest in, and subsequently store their own personal portfolios of major and minor digital assets – no matter how outwardly obscure they may appear to be.
For those just getting involved in the world of cryptocurrencies, what is currently important to understand about Trezor is that if you’re interested in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, or any of the other major coins, you can rest assured that you can easily store these in any frequency on any of SatoshiLabs’ existing crypto wallet models.
For a more comprehensive look at what altcoins are storable on Trezor, be sure to check out the company’s page dedicated to displaying what coins you can put into storage here.
As Accessible as you Need it to be – Mobile and Desktop
With so much accessibility towards cryptocurrencies, Trezor also gives a pretty impressive level of flexibility in the ways users can access their funds through both desktop and mobile operating systems.
So long as you have a USB port, you can connect your wallet to your iOS and Android on both tablet and mobile.
When it comes to browsers, Trezor gives users access to their assets or funds Google Chrome and Mozilla Firefox as just two of the providers that Trezor offers full functionality.
While there are a number of different browser interfaces that offer access to services from Trezor, they’re not guaranteed to provide all of the functions.
Along with being somewhat functional across a broad range of desktop browsers and widely available on mobile and tablet OS. Trezor has an increasingly long list of partnered digital/online cryptocurrency wallets that it offers compatibility with.
At the time of writing, these include the likes of Mycelium. Other supported wallets include Electrum, Electrum-DASH and Etherwall.
Highly Functional and Highly Secure
There’s a reputation that Trezor has managed to cultivate over the past few years and, along with this open approach to accessibility, it also pushes for a highly secure framework and system for users.
First and foremost is the fact that it is (allegedly) unmatched as a cold storage wallet.
Meaning that any funds that you decide to store on one of these wallets, they will be made secure and inaccessible to any potential digital or physical theft.
While this gives Trezor users an extensive number of security features, these wallets are still susceptible to firmware attacks, which is one of the disadvantages that remains outstanding. But with that in mind, the likelihood of undergoing these kinds of attacks remains somewhat small.
Whichever kind of model you decide to go for, each of them contains two recovery seed cards in case you ever lose access to your wallet and, consequently, funds during the time that you’re using it.
These are wholly autonomous cards that are completely unique to the holder. Meaning that users that lose access to their wallet can use one of these cards in tandem with the wallet to create and use a randomly generated, 24-letter recovery seed.
This same recovery system is not something strictly isolated to Trezor either. These same pass phrases can also be put to use with a range of digital wallets too, which include the likes of commonly used ones like Electrum of Mycelium.
You can also choose to add a further layer of security with an additional passphrase.
Trezor Wallets Review: How the ONE vs MODEL T Works
If this review, along with a range of others has encouraged you to make Trezor your digital/hard wallet of choice, then one of the added positives is that they’re quite inexpensive for this kind of utility.
Versions can cost anywhere from $100 upwards depending on what you’re looking for. For example, some of the more well-equipped, ‘bells and whistles’ models like the model T+ Cryptosteel cost upwards of $675, but bring a massive range of functions.
Trezor Model One Wallet – $55 USD
The Trezor Model One is effectively the standard, cost effective model. Even while this means that there are less security measures in place, there are still some elements that are universal across the models.
The onboarding process is pretty seamless, with the set-up being straightforward enough not to require a digital or printed manual, or 10+ steps in order to get it up and running.
Even with this being the basic model, Trezor offers any and all wallet users the ability to store any quantity of 1,000+ cryptocurrencies.
Here are the technical specifications of the Trezor ONE crypto wallet model:
Dimensions & Weight: Size: 60mm x 30mm x 6mm (or 2.4in x 1.2in x 0.2in) Weight: 12 g (0.42 oz)
Operating temperature: -20°C to +60°C (-4°F – +140°F)
Connectivity: Computer or Mobile Phone sync up via Micro USB connector.
CPU: Custom developed system running a 120 MHz embedded ARM processor (Cortex M3)
Screen: Bright OLED – 128×64 pixels. Holds up to 6 lines of text, displays all details to verify transactions on single screen
Safety & Certifications: CE and RoHS certified, surpassing all standards for quality, durability and environmental friendly. Airplane safe, X-Ray electronic protection.
Trezor Model T Wallet – $169.99 USD
Known as a next-generation cryptocurrency hardware wallet, it is one of the most expensive, premium models available online.
So what is it that merits the steeper price tag compared to the Model One? Considering the fact that there’s a $115 price difference after all.
For starters, the Model T provides a more robust framework for security and digital privacy.
These include in-built security systems such as the means with which to create standard recovery seeds easily and intuitively, according to the team:
“To make backup easier, we helped to create standard recovery seeds (BIP32/39/44), meaning you can simply recover your entire wallet by using the 12-word recovery seed if you lose your device.“
Trezor’s Model T also operates as a vector between other services that you seek to pair up your digital wallet to:
“The Model T can also serve as your U2F hardware token. In comparison to standard tokens, Trezor will display the service you are logging in to before you physically approve it on the device. It is also backed up with your seed.”
Here’s the technical specifications of the Trezor MODEL T crypto wallet:
Dimensions & Weight: Size: 64 mm x 39 mm x 10 mm (2.52 in x 1.54 in x 0.39 in) Weight: 22 g (0.77 oz)
Operating temperature: -20°C to +60°C (-4°F – +140°F)
Connectivity: USB-C connector for connecting to the computer or mobile phone.
CPU: 168 MHz embedded ARM processor (Cortex-M4) running a custom developed system, the Trezor Core.
Screen: Bright color LCD – 240×240 pixels
Safety & certifications: CE and RoHS certified, surpassing all standards for quality, durability and environmental friendly. Airplane safe, X-Ray electronic protection.
CryptoSteel Key – $118 USD
While each version of the Trezor Wallets/s come with a pair of paper key cards in order to unlock your digital wallet in case you lose your password. But what if you wanted more than just a couple of temporary ones?
This is where CryptoSteel comes into play. Costing $145, these operate as cards that you can use to generate your own unique recovery codes. And considering the fact that they’re made of steel, Cryptosteel offers a greater level of durability and, of course, survivability.
While users can buy these individually from the wallets, these also come with a number of the versions.
Trezor One Metallic – $544
The value of this kind of Trezor One, as opposed to its earlier, more cost effective, iterations is the fact that this is an anniversary edition.
With only 300 of these models being put through production, it’s more of a sentimental piece rather than providing any innovative features.
All the same, it cuts a very distinctive image if you’re one of those that chooses to buy one.
Material: Trezor One Metallic is handmade from high-quality anodized aluminum (EN AW 5083), therefore slight differences in color are inherent and contribute to the uniqueness of your device. You can clean it with a soft cloth and ethanol.
Dimensions & Weight: Size: 60mm x 30mm x 6mm (2.4in x 1.2in x 0.2in) Weight: 18 g (0.63 oz)
Operating temperature: -20°C to +60°C (-4°F – +140°F)
Connectivity: Micro USB connector for connecting to the computer or mobile phone.
CPU: 120 MHz embedded ARM processor (Cortex M3) running a custom developed system.
Screen: Bright OLED – 128×64 pixels. Enough to hold six lines of text. Can display all the details needed to verify a transaction on a single screen.
Safety & certifications: CE and RoHS certified, surpassing all standards for quality, durability and environmental friendly. Airplane safe, X-Ray electronic protection.
Now let’s shift gears and compare Trezor crypto wallet to the popular Ledger Wallet and KeepKey crypto storage options for a side-by-side comparison.
As we transition into part two of the Trezor user guide, let’s discuss some macro trends within the bitcoin and cryptocurrency world.
We live in an age where digital security is becoming increasingly important all over the world. This is because more and more people are starting to make use of digital transaction mediums such as cryptocurrencies, debit/credit cards, etc. to facilitate their day to day payments. As a result of this, the need for digital storage options has increased quite dramatically over the past few years.
In this portion we will look to explain that overall utility of crypto cold storage units — also referred to as digital wallets — that have gained a lot of mainstream traction recently. To be a bit more specific, we will be focusing exclusively on Trezor and Ledger, two wallet options that are not only quite affordable but also support a vast array of digital currencies. However, before we get into any of this, we need to ask ourselves the question, “What’s the need for a hardware wallet anyway?”.
Simply put, when an individual decides to make use of a hardware wallet solution, he/she is choosing to add an extra layer of safety to their existing privacy protocols. This is because digital wallets that are computer-based are always prone to being hacked by either malware or different viruses that are devised to steal one’s private keys as we discussed above in the introduction. Additionally, hardware storage units also eliminate the possibility of a person being scammed by fake websites that make use of phishing-related ploys.
All of the private keys associated with a hardware wallet are stored in the wallet itself, so for a third-party individual to gain access to the device, he/she will have to acquire one’s pin number (which is quite difficult to obtain).
In case a person’s hardware wallet ever gets damaged or lost due to some unforeseen reason, it can be easily restored through the use of certain “seed words” that are created during the setup phase of the device. However, it bears mentioning that these seed words need to be stored carefully because if they get lost, the chances of recovering one’s assets become zero immediately.
For people with any substantial investments in crypto, it is best if they invest in a hardware wallet — primarily because they have been proven to be the safest means of securing one’s investments.
Trezor Versus Ledger: An In-Depth Look
Anybody even faintly familiar with hardware wallets would have heard of Trezor and Ledger because both of these products are well respected within the global crypto community for their plethora of security-related features. Also, it needs to be made clear that both Trezor and Ledger do not store any digital currencies themselves but rather follow all of the key information associated with these tokens on their respective blockchains.
Trezor: From the outside looking in, one can think of Trezor as being an offline bitcoin wallet that has been created to help users keep their crypto assets secure in the easiest, most streamlined manner possible. As mentioned previously, it works as a secure cold storage device, which means that it always stays offline. However, it does come replete with a host of options that allow users to go online and trade/exchange cryptocurrencies as and when needed. Trezor has been recognized by several experts as being one of the world’s most trusted and secure ways of storing BTC.
Ledger: Similar to Trezor, Ledger is also an extremely powerful cryptocurrency hardware wallet whose design resembles that of a USB drive. From an operational standpoint, it comes pre-built with a wide array of robust safety features that are ideal for not only storing one’s assets but also safely executing digital payments. Another key facet of Ledger is its overall compatibility that allows it to be used with almost any modern-day PC, laptop or tablet.
Construction and Design
All of Trezor’s wallet options are made exclusively out of plastic. However, such is not the case with Ledger because the firm makes use of stainless steel to encase all of its USB devices. Additionally, the products offered by both companies are fairly resistant to outside damage, but owing to Ledger’s stainless steel body it is safe to say that the device is more sturdy. Lastly, Ledger seems to look more appealing than Trezor because of its stylish design. However, this is just a subjective opinion as individual tastes tend to vary quite a lot (from person to person).
Both Ledger and Trezor come laden with two unique buttons that are there to help the owner manage their crypto wallets. Additionally, the devices also come with miniaturized USB ports and screens.
Trezor’s inbuilt screen is larger than the one that is currently present on Ledger. However, the screen does not impact the overall utility of the device in any way, so all of these small technicalities are more cosmetic than anything else.
What Do You Get With Each Device?
Some of our readers may be curious to know what they will be getting upon purchasing one of the aforementioned devices. Thus, in this section, we will further elaborate on what is included (even though listed above as well) and look at exactly what’s packed inside the boxes for each of these crypto wallet products.
(i) Trezor: The package comes sealed in a square box set that has been bolstered with black foam for additional support. Inside one can find the device (obviously!!) along with a strap that can be used to hang/suspend the device. Additionally, the box also contains the following:
- A USB cable for connecting one’s wallet to a computer, laptop, etc.
- A user manual card
- 2 recovery seed cards
- A wide variety of Trezor branded stickers.
(ii) Ledger: As with the Trezor package, the Ledger box also pretty much comes with the same list of contents. For example, inside the box people will find their storage device along with the following items:
- A USB Cable for establishing PC connections.
- A Key Chain
- A Lanyard (which can be kept around the device)
- Seed Cards
Pretty straightforward for both of these popular company’s wallets.
Ease of Use + Operational Efficiency
Trezor is designed to be fully compatible with a wide array of desktop computers as well as hand-held devices. It can be used seamlessly with macOS, Windows, Linux, and Android. However, what seems to set Trezor apart from many of its contemporaries is the Google Chrome extension that can be used in conjunction with it. The plug-in is designed to help users operate their Trezor devices in the easiest manner possible as well as manage the data placed on it seamlessly.
Trezor’s wallet interface is quite intuitive and can be used without much training. It allows users to view transactions via the send/receive tabs that are located at the top end of the screen.
On the top left, there is a drop-down menu that allows users to switch between their desired cryptocurrencies.
Ledger too is designed to be compatible with a host of operating systems including macOS, Linux, Windows, and even Chrome OS. However, for full functionality with ChromeOS, users need to make use of the firm’s native web browser as well as acquire certain extensions.
From an interface standpoint, Ledger is very well designed and easy to use. Not only that, all of the device’s built-in tools and buttons have been outlined pretty well. Lastly, all of the product’s core functions can be executed with relative ease.
Both of the devices provide their owners with access to most of the important crypto assets that are available in the market today. This saves investors the hassle of keeping their different digital assets in separate storage mediums.
The interfaces offered by Trezor and Ledger are extremely easy to use and intuitive.
The Ledger and Trezor hardware wallets are well designed and provide their owners with a polished/user-friendly user experience from the get go.
As mentioned in the previous section, the above mentioned devices support a long list of cryptocurrencies. The assets in question range from the well-known staples to others that might not be as famous.
Trezor is designed to accommodate a vast array of crypto assets. Additionally, with each successive firmware update, the number of coins that are supported by the device continues to increase. In all, the device supports nearly 1,100 tokens, some of whom (the key ones) are listed below:
- Bitcoin (BTC)
- Litecoin (LTC)
- Bitcoin Cash / Bcash (BCH)
- Bitcoin Gold (BTG)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- All ERC-20 Tokens
- NEM (XEM)
Ledger too provides its owners will full support for many crypto coins. Believe it or not, the device supports nearly 1000 tokens — with new ones being added every few months. Some of the core ones have been listed below:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Ethereum (ETH)
- Ethereum Tokens (ERC-20)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Ripple (XRP)
- Dash (DASH)
- Stratis (STRAT)
- Komodo (KMD)
- Ark (ARK)
- Expanse (EXP)
- Ubiq (UBQ)
- Vertcoin (VTC)
- Viacoin (VIA)
- Neo (NEO)
- Stealthcoin (XST)
- Stellar (XLM)
- Hcash (HSR)
- Digibyte (DGB)
- Qtum (QTUM)
- PivX (PIVX)
- PosW (POSW)
Lastly, it bears mentioning that Trezor was one of the first crypto storage units to provide users with mainstream BTC storage capabilities. In the same breath, Ledger was the first physical storage entity with full support for Ethereum.
As mentioned previously, both devices cyclically undergo software updates that help add new functionality and coin support features to them.
How Easy is to Setup the Devices?
We reviewed how to setup the Trezor wallet above, but let’s cover it in comparison to the Ledger Wallet.
The process of setting up both of these devices is fairly simple and straightforward. For starters, Trezor, as well as Ledger, require their handlers to set up a pin code — which comes in handy if a nefarious third-party individual gains access to one’s physical wallet. Additionally, if a person incorrectly enters a pin three times, the devices automatically delete all the data that is stored within them.
In such a scenario, users need to employ their seed phrases — which when used, help in restoring all of the erased data immediately. It also bears mentioning that full support for recovery seeds is also implemented in case the aforementioned scenario occurs.
Lastly, the storage devices never display their owners’ seed phrases on their computer screens (as a result of which any attempts made by scammers and thieves to steal one’s assets can be negated to a large degree).
Trezor, as well as Ledger, make use of a few buttons that control the bulk of operations associated with the devices.
The buttons on both devices can be used to scroll through menus or used to select items. Additionally, the devices make it virtually impossible for anyone to access any of the stored data without connecting them to a computer via a USB connector and inputting the correct pin code.
So Which One Should You Pick Then?
Simply put, the decision ultimately boils down to what one likes in terms of aesthetics and design since both devices work quite well when it comes to sending/receiving coins as well as viewing native data related to one’s on-screen transactions. From a price standpoint, the Ledger wallet costs around 60 US dollars while Trezor is a bit more costly and can be purchased for around $100 bucks. This is because the latter comes with slightly better software capabilities — such as allowing users to sync their transaction information with their DropBox accounts. Other benefits associated exclusively with Trezor include:
1) Users can create a huge number of hidden accounts by password protecting their seed phrases.
2) The device comes pre-built with a password directory that is easy to navigate and use.
3) The firmware and integrated wallet software that comes pre-installed on Trezor is more sophisticated when compared to that of Ledger’s.
4) Trezor provides full support for shrouded accounts.
5) Lastly, both devices support a large number of crypto assets, however, Ledger is compatible with more currencies at the moment. Also, when it comes to recovery, Ledger allows users to recover their assets without having to connect their devices to a PC.
We hope this portion of the Trezor review gave a fair and transparent comparison to the popular Ledger Wallet. It was designed to give you an opportunity to make a more informed decision when buying any of the most-used bitcoin wallets. Our readers need to be aware that the final choice is ultimately theirs and thus they should do their due diligence before making any such purchases.
Now, maybe the Ledger wallet isn’t the best option for you and may opt for Trezor, but there is one other popular storage option to consider with the KeepKey crypto wallet. Let’s compare Trezor to KeepKey and see which of the popular wallet choices is right for you.
As Bitcoin continues to grow in popularity with each passing day, more and more people are starting to realize the importance of storing one’s personal crypto holdings in hardware wallets. This is because hot wallets (storage units that are internet-based) are prone to be hacked by nefarious individuals who have a good grasp of how such things work.
In this regard, it bears mentioning yet again that hardware wallets are way safer than traditional software wallets — primarily because they contain all of one’s private keys on the device itself instead of storing them as an encrypted file. This fact in itself greatly minimizes the chance of hackers being able to gain access to one’s digital holdings and stealing one’s hard-earned savings.
When using hardware storage entities, even if a person’s computer, laptop or smartphone device is compromised through the use of a keylogger or Remote Access Tool (RAT), their funds remain safe because these wallets operate offline and thus cannot be penetrated in to easily.
In this closing section, we will be focusing mainly on two particular wallet options — i.e. the Trezor Model T and KeepKey — that have gained a huge cult following over the past couple of years (mainly because of their affordability and overall ease of use).
Both of the aforementioned wallets are designed to work with a host of popular operating systems (Linux, Windows and OS X) and come pre-built with several privacy features that make it virtually impossible for third-party miscreants to gain access to a person’s crypto assets. Additionally, the devices are USB compatible and come with built-in screens that make it extremely easy for users to navigate through the various features being offered.
While Trezor and KeepKey both have their intrinsic advantages (as well as Ledger reviewed above), as part of this section, we will look at some of the key differences between the two as well. This will allow our readers to make a more informed decision when making a purchase. Essentially, we will be looking at certain aspects like
- The number of coins supported by each device
- The price of each wallet
- The security features being offered
As part of our research, we took into consideration only the latest versions of both the Trezor Wallet T and KeepKey K1. At press time, the Trezor is being sold online for an average price of around USD 165. However, some websites are offering the storage device for as low as USD 135. On the other hand, the average sale price of KeepKey is currently around USD 129 — a price difference that might be significant for some.
When it comes to comparing hardware wallets, it is best to look at what the devices are offering in terms of their security features.
(i) Pin based security: To gain access to one’s device, users need to input a certain code that is known only by them.
(ii) Peripheral passcode requirements: Another key aspect of Trezor is the use of its passphrase approach that requires users to enter a certain combination of words if they wish to use their device once it is connected to a personal computer or laptop. Additionally, it bears mentioning that this passphrase is to be remembered at all times because, if forgotten, the owner will most likely have to forego access to his/her crypto holdings.
(iii) Immune to Viruses & Malware: Trezor’s dependency on outside resources such as batteries, WiFi, Bluetooth tech, fingerprint scanners, NFC is completely non-existent. As a result of this, the device is less prone to foreign intrusion attempts.
(i) Pincode access: Similar to Trezor, the KeepKey wallet also makes use of a passcode protocol that requires users to input a certain key to gain access to their funds.
(ii) Recovery Sentence backup: As with many premier crypto hardware wallets, KeepKey too has a provision for using a twelve-word recovery sentence when setting up one’s device (so as to ensure that no security mishaps are incurred later down the line.)
(iii) Malware Proof: Keepkey minimizes its operational dependency on external technologies such as WiFi, Bluetooth to keep it offline as much as possible.
General Feature Comparison
In this section, we will cover a wide array of general navigation/operation-based features that the Trezor T and Keepkey provide their users with. And while these aspects may not help bolster the security readiness of these devices, they do help in making the overall user experience smoother and more hassle-free.
Multi-color touchscreen: This is one of Trezor’s key features that really make it stand out — so much so, that it is one of the few crypto storage units on the market today to feature a fully colorized touchscreen interface.
USB-C connectivity: Another core aspect of the Trezor T is its ability to seamlessly connect to smartphone devices through the use of a USB-C cable. This makes on-the-go trading much more practical and hassle-free for crypto enthusiasts.
Unlimited Coin Storage Capacity: Quite unlike many of the other crypto wallets available today, Trezor does not have a limit on the number of different tokens that it can hold. Additionally, the number of tokens supported by the device is also updated on a regular basis.
Aesthetically Pleasing Design: Out of all the crypto wallets available in the market today, Keepkey offers its owners the most visually attractive design quotient (as well as overall build quality).
OLED Screen: KeepKey comes built with a generous 3.12 inch OLED screen that is extremely sharp and offers amazing contrast related options. However, unlike the Trezor, Keepkey’s screen does not feature any colors.
USB-connector: Users can connect their Keepkey wallet to a peripheral device through the use of a standard micro-USB connector. However, one cannot link their Keepkey wallet to a mobile phone device because it does not support USB-C connectivity.
A core aspect of choosing a crypto wallet is how many tokens/currencies the device actually supports. In this regard, every wallet manufacturer continually strives to add more tokens to their wallets every month. So in this section, we will take a look at the cryptocurrencies that are supported by Trezor and KeepKey.
Quite like all of the major crypto storage devices in existence today, the Trezor T supports all of the main digital currencies available in the market. These include:
Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, DASH, Zcash, Namecoin, Dogecoin, and a variety of other ERC-20 Tokens
Additionally, for Ethereum Classic & other ERC 20 Tokens, Trezor makes use of a third party software called MyEtherWallet. Lastly, the device also supports several other peripheral wallet interfaces.
When compared to Trezor, Ledger and some of the other popular wallets in the market today, Keepkey offers support for a relatively smaller number of crypto coins. The core tokens supported by the device include:
Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash, Dogecoin, Bitcoin Gold and multiple ERC-20 Tokens: Aragon, Augur, Basic Attention Token, Civic, District0x, FunFair, Golem, Gnosis, OmiseGo, SALT, Bancor, ICONOMI, Melon, SwarmCity, Wings, iExec, Status, Numeraire, Metal, TenX, Qtum, 0x, FirstBlood, Ripio Credit Network, SingularDTV, DigixDAO, WeTrust, Matchpool, Edgeless, Polymath, Tether, Binance Coin and Storj
Lastly, it also bears mentioning that KeepKey offers vertical integration with Shapeshift.io — (thereby making it easier for users to facilitate one-touch trades).
While the Trezor T, as well as Keepkey both, have many positives associated with them, there are also some downsides to each of these devices. These negative aspects may not be that big but can serve as potential ddeal-breakersfor some. Therefore, in this section, we will look at the major cons linked with each wallet.
Trezor Model T
(i) Lack of ETH Support: Trezor does not come with a native support module for Ethereum. Instead, it makes use of a third-party software system for the same.
(ii) Lack of Customer Support: Some Trezor owners have mentioned that the company’s customer support is quite poor and unreliable on various forums online.
(iii) Navigation Constraints: The small screen size that the Trezor T offers can be a navigational impediment to some — especially for people with large fingers.
(i) Conversion Limitations: While all of the other popular crypto wallets in the market today come pre-built with a module that provides owners with crypto-fiat conversion rates in real-time, Keepkey lacks this core feature (thereby forcing users to check conversion rates independently).
(ii) Updates are Quite Irregular: Another downside of the Keepey wallet is that the project’s development team does not release regular firmware updates. This restricts the number of new supported tokens on the device.
So Which One is Best Suited For You Then?
With all of the information that has been presented above, we hope that it will now become easier for our readers to make a more informed decision when making a purchase. Both the Trezor T and KeepKey offer a high degree of security and are sufficient to get the job done. However, the final decision boils down to certain factors such as:
Which tokens one owns and are supported by each device?
Which device features a more aesthetically pleasing design?
How important is smartphone/mobile connectivity for the person looking to buy one of the aforementioned hardware wallets?
In closing out this piece, it needs to be made absolutely clear that the final choice is ultimately with the reader so before you make a decision in this regard, it is of utmost importance that you carry out your due diligence. Also, Trezor and KeepKey are not the only economically viable hardware wallet options on the market so you can also check out other similar products (such as the Nano Ledger S) before committing to one device.
There is no other Trezor review on the Internet like the one you just went through. Congratulations on making it through the entire overview, it has been a delightful experience to dive deep into the details and provide our Master The Crypto members a one of a kind user guide to follow and reference.
As the story of money continues to evolve, from 6,000 BC to 21,000,000 BTC, whether you opt to buy the Trezor cryptocurrency hardware wallet or go with the Ledger Wallet or KeepKey options, just remember ‘smart custody’ is at the forefront of the next bitcoin bull market rally and cryptocurrency adoption.
After examining all of the major characteristics that make up a high-quality cryptocurrency hardware wallet, the cybersecurity experts at SatoshiLabs and their Trezor creation remains at the top of the list when it comes to having the highest security standards, user-friendly environment, open-source software, reputation, innovation, integrations, community developments, wide range of coin support, 24/7 customer service and customized user features that all bitcoiners can appreciate. Please leave your comments and feedback about how we can improve our Trezor wallet user review guide.
I’m Aziz, a seasoned cryptocurrency trader who’s really passionate about 2 things; #1) the awesome-revolutionary blockchain technology underlying crypto and #2) helping make bitcoin great ‘again’!