Trezor Hardware Wallet Review with Features, Pros & Cons…

One of the most talked-about wallets in the cryptocurrency marketspace is none other than the Trezor Wallet. If you have been navigating the crypto trading industry for quite some time now, I am sure you must have heard the name of this wallet. If not, you can check out this review to get your hands on all the essential details related to this wallet and help yourself decide whether or not it is worth your consideration.

In this Trezor hardware wallet review, we shall talk about what this wallet is, its core features, a comparison between two of its famous models, and its pros & cons. With that understood, it’s time to reveal the details that we know about this wallet so far.

What is a Trezor hardware wallet?

Trezor is one of the first hardware crypto wallets available in the market that comes with cold storage. In short, this wallet has a long standing in the market and has been a popular choice among crypto traders since long time. The wallet has the ability to store a wide selection of crypto assets- popular as well as non-popular ones. Talking about its nature as a cold storage, it means the wallet has the ability to store your assets completely offline. To connect your hardware wallet to your PC, you can use the USB connectivity and confirm the transactions exclusively.

Currently, the wallet manufactures two models, namely Trezor Model T and Trezor Model One. Most features of these wallets are pretty similar; however, the Model T is known to support some additional crypto when compared to the Model One.

Trezor wallet models comparison

Trezor Model One

• This wallet keeps your private keys offline and protects your funds using PIN protection and recovery seed.
• Has an open-source firmware for audit transparency.
• Comes with a small monochrome OLED screen that has two physical buttons.
• You can use a micro-USB cable to connect it to a PC or mobile device.
• Supports 1,000+ crypto coins and tokens.
• However, it does not support coins such as Cardano, Solana, Monero, etc.
• You can certainly connect it to a third-party wallet such as MetaMask.

Trezor Model T

• The wallet comes with a full-color touchscreen and comes with security features such as PINs and passphrase.
• It also offers advanced recovery solutions such as Shamir Backup, allowing you to store parts of your recovery phrase at different places.
• For connectivity, it supports USB-C type connections and has a powerful processor.
• Supports more coins as compared to the Trezor Model One.
• Also has a microSD card slot for some features to be released in the future.
• You can also connect the wallet to NFTs and dApps or to software wallets such as MetaMask.

Pros and cons of Trezor wallet

Pros

• The wallet has open-source software and firmware, allowing audit.
• Supports some very popular and non-popular cryptocurrencies.
• Does have hidden-wallets that are passcode-protected.
• It also supports TOR, that allow you to protect your IP address.

Cons

• Does not support Solana (SOL).
• Only the Trezor Model T supports XRP and Cardano.
• Some supported assets, such as NFTs, may not be visible in Trezor Suite.
• Does not have any built-in DeFi apps.

Trezor Wallet Features Review

Trezor follows a security-first approach, which means it will always make sure that your funds remain safe from any intruder’s reach. Here are some of its features that people actually like:

• Tamper-proof packaging: There is a hologram sticker on its packaging, ensuring that the package is not tampered with.
• No pre-installed firmware: To add to its security, the developers do not send the wallet device with pre-installed firmware. This means you have to install the firmware on your own after opening the wallet packaging.
• Has an open-source firmware & software: Both the Trezor Suite (the wallet’s companion app) and the firmware are open-source. These are available to review.
• Secret Recovery Phrase: You can also use the 24-word Secret Recovery Seed phrase to restore your funds on a new device (if you ever need to).
• Create hidden wallets: By choosing a Secret Recovery Phrase, you can always create additional hidden wallets invisible by everyone.
• TOR support: Toggle on the TOR support to send transactions anonymously while hiding your IP address.
• Supports major coins and chains: Being a blue-chip crypto investor, this wallet ensures that you get to store a wide selection of crypto assets securely.
• Device reset options: If you ever want, you can always reset your wallet device and transfer those assets to a new wallet.
• Manage basic crypto transactions: Manage basic crypto transactions such as buying, selling, swapping, sending, or spending crypto directly through the wallet’s interface.

Final Words:

After going through the comprehensive details of this wallet, I am sure you must have got a clear understanding of what this wallet is, what its features are, and whether or not you should use it. Now, the choice is yours whether you would like to use the Model One or the Model T.

FAQs:

What is the cost of the Trezor hardware wallet?

The Trezor Model T costs approximately $219 USD, and the Trezor Model One costs approximately $69 USD.

How many coins can a Trezor wallet hold?

The wallet can store around 1,000 coins and tokens in its cold storage via Trezor Suite.

Can I trust Trezor Wallet with my crypto?

A Trezor wallet has open-source software and firmware, making it one of the most trustworthy wallets that we have with us today.

Which one is better: Trezor or Ledger wallet?

After comparing Trezor or Ledger hardware wallet, you can decide on your own which wallet you like more.