Review: Trezor One – Hardware Wallet

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Trezor One - Hardware Wallet Homepage

The Trezor One – hardware wallet seeks to distinguish itself from the other hardware wallets that have been developed. Like the other hardware devices, the Trezor One hardware stores coins in an offline means. This means that it is extremely impossible for hackers to get their hands on the coins of users. The Trezor One hardware wallet is shaped like a car key. Asides from the fact that this wallet stores the coins of its users in an offline storage system, the wallet affords them the opportunity to spend their tokens conveniently as they would do with any of the mobile or hot wallets. Like every other hardware wallet, the Trezor One hardware wallet can be used on computers that have been comprised or infected with a virus.

I Want to Store my Cryptocurrency with Trezor One

Rating 4.0 / 5

Pros

  • Secure
  • Easy to set up
  • Portable wallet

Cons

  • Lack of style

Price $95

Trezor One Supported Coins

When choosing a hardware wallet, the number of coins supported is one of the most important factors that should be considered. In this regard, the Trezor One hardware does not fare badly. It has a handful of supported cryptocurrencies, but when compared to the other hardware wallets like Ledger Nano S, the Trezor One wallet has a limited number of supported cryptocurrencies. These cryptos include;

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Dash (DASH)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • NEM (XEM)
  • Zcash (ZEC)
  • Bitcoin Gold (BTG)
  • Dogecoin (DOGE)
  • UBIQ (UBQ)
  • Expanse (EXP)
  • See also the image below for a brief overview of the coins that can be stored.

Trezor One - Hardware Wallet Store Coins

Background

This hardware wallet was developed and launched by SatoshiLabs in August 2014 and it happened to become the first Bitcoin hardware wallet. As mentioned earlier, this hardware wallet does not just you store coins, it also offers you the opportunity to spend your saved coins. This feature sets it apart from the other hardware wallets that have been developed.

The Trezor One hardware wallet is a Hierarchical Deterministic (HD) wallet that offers you the opportunity to totally control your private keys. To ensure that those with little or no knowledge of cryptocurrencies are able to make use of this hardware, the developers have made the system seamless. From the Trezor One wallet, users are able to generate multiple addresses. The interface of this wallet which can be accessed through the Google Chrome Browser is made user-friendly, thus, ensuring that users are not just able to control their coins, manage their balances, but also able to initiate transfers. While this hardware wallet is quite easy to use, certain additional features have been added to provide users with more functionality.

Security

Security happens to be the most important factor that should be considered when choosing a wallet. While hardware wallets are generally secure, the team behind the Trezor One wallet has deployed certain additional security features that will assure users. One of the interesting facts of this wallet is that while it focuses on security, it also focuses on the functionality of the wallet.

One thing that trouble many users is that the team behind this hardware wallet are not based in the United States. They are based in Czech. This should not be a thing of concern as even if the company has conceived an evil plan, the coins stored offline cannot be touched by anyone. Also, the Trezor One wallet is an open source hardware wallet, meaning that all can see what the company is up to. For added security, during set-up, users will be required to input a PIN code. This PIN code is to ensure that no one other than the owner of the wallet can get access to the saved funds.

Also, the recovery word-seed which displays during set up will help users recover their funds in the event that their hardware device has been stolen or damaged.

I Want to Store my Cryptocurrency with Trezor One

How To Set Up The Trezor One – Hardware Wallet

Like every other hardware wallet, users will simply have to connect the device to their computers with the USB cable that is provided. Once this is done, you will be required to visit the official website where you will create a PIN. It is important that you remember that without this PIN, it may be impossible to make use of the hardware wallet.

After setting up the PIN, the 24 word-seed will display. You have to carefully copy this seed down as failure to do so means that if your hardware device gets damaged, your funds cannot be recovered. Write the word seed down in a paper and keep it somewhere safe.

This wallet comes with two side-buttons. These buttons will help you operate the hardware device. The Trezor One wallet has a wider screen when compared to the Ledger Wallet.

What Is In The Box

This hardware device comes in a small box that has been sealed properly. This safety seal will tell you that no one has tampered with the wallet prior to that time. The Trezor One wallet is shaped like a car key. Some of the items contained in the box include;

  • The Trezor One hardware device
  • A USB cable
  • Strap
  • An instruction card and
  • two recovery seed cards.

The recovery seed card has been designed for you. You have to write down the recovery seed in it and have it stored in a safe place.

Installation

To make use of this wallet, you have to install certain applications using the Google Chrome Browser. The wallet comes with a Google extension browser that will help users easily manage the gadget as well as the data that is saved in it. With its impressive interface, users are able to view transactions as well as seamlessly send and receive payments.

Mobile Support / Application

This hardware wallet is compatible with hand-held and desktop devices. It is compatible with the following operating systems;

  • Windows
  • IOS
  • Android
  • Linux
  • MacOS

Conclusion

The Trezor One wallet is an impressive wallet, it is secure, functional, and easy to make use of. The most fascinating thing about this hardware wallet is that while it seeks to offer users a secure wallet, it does not complicate things, it remains as easy as possible. This sets the wallet apart from others.

I Want to Store my Cryptocurrency with Trezor One

Interested in reviews of other wallets? Visit our wallets page.

REVIEW OVERVIEW
Security
Usability
Offered Coins
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