If you are looking for the safest alternatives for storing your crypto, hardware wallets are one of the best choices. Trezor currently offers two different crypto hardware wallets with some of the most reliable security features. Let’s take a close look at both Trezor hardware wallets to help you determine whether this crypto wallet is the best option for you.
What is Trezor Hardware Wallet?
Trezor is a hardware wallet, meaning that it is an external device that stores your private keys in an offline environment that is safe from hackers, viruses and malware. Founded by SatoshiLabs, Trezor is the first wallet of this kind, which means it has been widely used and tested. Trezor can be linked to the Trezor application which can be accessed from a desktop (Windows, Linux and macOS) or browser and is open source.
From the application users can complete transactions, which are confirmed from their physical device using a personal PIN, allowing them to securely trade and purchase crypto. Not only is your device PIN protected, it also has a personal 12 to 24 words long recovery seed, which you can use to back-up your device into a new one in case it is lost.
If preferred you can also integrate any of the Trezor wallets to other software wallets, allowing you to try different options and enjoy additional features.
The Trezor One is the first generation Trezor wallet, featuring two navigation buttons and a small monochrome screen. The device is small, durable and easy to carry.
One of Trezor One’s greatest advantages is its affordable price, sold for 53 EURO. It is also known for being easy to set-up and is considered one of the best hardware wallets for beginners. Additionally, this wallet is very secure due to its PIN protection, Universal 2nd Factor compatibility and USB cable connection to link the device to the desktop and browser wallet.
Not only is Trezor One highly secure, it is also compatible with a wide range of cryptocurrencies, allowing you to safely keep private keys for over 1000 different cryptocurrencies.
Trezor Model T
Trezor Model T, the second-generation wallet released by Trezor, features all of the features of the Trezor One plus some upgrades. However, this model has a significantly higher price, sold for 189 EURO.
Physically, the device has several differences. Rather than a small display and buttons, this wallet features a larger, color touchscreen and a magnetic dock with a double-sided tape which can be attached to any firm surface. It also includes a MicroSD card slot and offers USB-c connectivity.This translates into improved navigation and a better user-experience. Additionally, the Trezor Model T has a faster processor and supports additional cryptocurrencies.
Trezor One vs Trezor Model T
The Trezor One and Model T both offer a high level of security and a great software application. The Trezor Model T comes with some additional perks that more serious investors will enjoy though, such as the convenient touch screen, magnetic doc and MicroSD card slot. However, it does come at a steep price. If you are just getting acquainted with hardware wallets, the Trezor One will be a better choice due to its functionality and affordable price. On the other hand, if you are experienced and have a vast amount of funds invested into crypto the additional features of the Trezor Model T will be well worth it.
Trezor Hardware Wallet: Pros and Cons
- Supports 1000+ cryptocurrencies.
- Offers the highest level of security for crypto.
- Has a convenient desktop and browser application.
- Provides users with extensive support resources.
- Trezor is a pioneer in the hardware wallet industry, with tech that is thoroughly tested and frequently updated.
- Allows you to buy and exchange crypto using Trezor’s application, confirming transactions on your device for higher security.
- Compared to most software wallets and several hardware wallets on the market, Trezor devices have a higher price tag.
- In general, hardware wallets are not considered to be beginner friendly. While these devices do have many features that make them easy to navigate, there is a certain learning curve, which makes other options better suited for new hardware wallet users.
Trezor Hardware Wallet
Trezor was the first company to launch hardware wallets and has remained a favorite among hardware wallet users throughout the years. Overall, Trezor offers secure, well-designed and durable devices, which is why the Trezor One and Trezor Model T have been well adopted among cryptocurrency investors.