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Is Trezor worth the price?  • BZ Crypto


Trezor’s story

Trezor is one of the oldest hardware wallets. It was created and owned by SatoshiLabs, located in the Czech Republic. If you have anything to do with cryptocurrencies (especially Bitcoin), you’ve probably heard of SatoshiLabs. He is considered a pioneer in the Bitcoin industry.

SatoshiLabs was officially incorporated in 2013 to develop the world’s first hardware cryptocurrency wallet. The result was Trezor. You can use it to store not only Bitcoin, but you can also store a wide range of altcoins and tokens. In 2014, SatoshiLabs shipped the first Trezor One devices to the world. The next-gen Model T was unveiled in 2016 and started selling in 2018. The Trezor Model T is the flagship portfolio, with a touchscreen display and additional features for investors willing to shell out a bit more for a hardware wallet.

Trezor products

Trezor is a small device that connects to your computer via USB. It works completely offline (cold storage) and still allows you to sign a transaction (i.e. verify your private keys) without connecting to the internet.

Trezor devices come with strict security measures like PIN codes and passphrases, making hacking almost impossible. Trezor devices are extremely popular and a smash hit among crypto enthusiasts – SatoshiLabs has sold over a million devices. Currently, there are 2 models of Trezor wallets: Trezor One and the Trezor T.

Trezor One (Rating: 3.9)

Trezor One debuted in 2014. It still remains one of the most popular wallets. For cost-conscious crypto investors, this may be the best option. However, if you want the best wallet that SatoshiLabs has to offer, you will have to go for the Trezor Model T.

Trezor Model T (Rating: 4.2)

The Model T, launched in 2018, is the 2nd generation model and contains most of the features of Trezor One with some improvements.

The Trezor Model T and the Trezor One are both hardware wallets made by SatoshiLabs. Both devices are highly secure and use an open source system. Although the Model T is a more recent updated version, both wallets are highly secure and flexible and support many crypto assets.

The Model T costs around $ 169, more than double the retail price of the $ 59 Trezor One. The significant price difference is due to the various advantages of the Trezor Model T over the Trezor One. Some of these benefits are:

  • Model T supports more cryptocurrencies including Monero and Cardano.
  • It incorporates new hardware features such as an SD card slot.
  • The Model T comes with a new RGB color touchscreen.
  • Shamir save, an advanced distributed seed is only available for the T model.
  • The Model T is the only FIDO2 authenticator with a touchscreen.

Features and services of Trezor wallets

  1. Wallet for several cryptocurrencies

The Trezor hardware wallet provides a secure environment to store not only Bitcoin, but a wide variety of alternative digital currencies (altcoins) and tokens with a single device.

  1. A simple solution for all your crypto needs

Trezor’s new desktop app, Trezor Suite, is packed with useful features that make it easier to use crypto, including replacing it with fees for faster transactions and a Tor switch to anonymize your connection.

  1. Secure administrator SSH access

With Trezor, you can protect access to your data using the secure administration SSH connection. The SSH admin login protects access to your data and servers.

  1. Two-factor authentication

Trezor protects your private keys and account with industry standard two-factor authentication (FIDO / U2F).

  1. GPG integration

Trezor GPG integration allows you to sign emails, manage passwords and encrypt files. You can generate and store your GPG keys on your Trezor device instead of your computer.

GPG integration is ideal if your computer is stolen or lost. You can easily access your keys using the device. If the device is stolen or damaged, you can quickly restore the keys using a backup.

Retailing at around $ 169 or € 160, the premium Trezor Model T is more than double the Trezor One price, which costs $ 59. Ledger is Trezor’s closest rival. The premium Ledger Nano X costs around $ 120, much cheaper than the premium Trezor Model T. While the Ledger Nano S costs around $ 60, it’s roughly the same price as the Trezor One.

To enjoy the premium features of the Model T, you have to shell out around $ 169. You might want to consider cheaper alternatives like Ledger Premium or KeepKey if you’re on a budget.

Security is the most important thing to consider when choosing a wallet, and Trezor seems to have it locked down. SatoshiLabs takes security very seriously. Trezor was created with a wide range of security protocols to keep your funds safe.

  1. No operation can take place without PIN code authentication and Trezor does not rely solely on the recovery phrase. The wallet supports BIP39 passphrases. BIP39 passwords are never stored or remembered on the device, protecting your funds from local hardware hacks.
  1. The Trezor bootloader (operating system) is programmed to clear device memory if the firmware signature is not valid. Exposing the wallet software to a vulnerable version wipes out memory, keeping your funds out of reach.
  1. The bootloader constantly checks the firmware signature, and the firmware will only run if it is accurately signed by SatoshiLabs.
  1. Once broken, the Trezor wallet case is almost impossible to restore due to the ultrasonic soldering used in its construction.

Benefits of Trezor

  1. Unparalleled safety standards

The Trezor wallet is protected by 3 layers of security – a randomly generated recovery seed, a user-created PIN, and a password function. These 3 layers of security put the Model T ahead of other devices.

  1. Open source architecture

Trezor wallets come with an open source architecture, which gives you complete decentralization and control over your digital assets. You can customize your portfolio according to your needs. You can even run your full node portfolio independently.

  1. Third party integration

Trezor’s open source architecture makes it easy to use with various third party applications and systems. Unlike other wallets, the open source architecture allows developers to integrate Trezor into their solutions. Examples of these integrations are GPG encryption and MyEtherWallet.

  1. Support for a wide range of cryptocurrencies

With over 1,600 digital currencies supported, including Bitcoin, Litecoin, and Dash, Trezor supports more cryptocurrencies than most other wallets. Its ability to support many cryptocurrencies puts Trezor well ahead of its closest rival, the Ledger Nano S and X.

While the Trezor Wallet is a unique and remarkable product, it has recently had slow and generally poor customer service. This is clear from the reviews and mixed user complaints about its customer service seen on platforms such as TrustPilot, Amazon, and Trezor’s official Facebook page. Other manufacturers were similarly affected by the latest bull run.

Trezor wallets have a clean design with special emphasis on security and safety. In addition to high security and an elegant design, Trezor is simple and easy to use. You can send, receive, buy and store a large number of cryptos on the wallet.

Trezor is one of the best and arguably the most secure hardware wallets. Trezor wallets can store a variety of digital currencies which, combined with the ease of use, makes them a favorite among traders and crypto enthusiasts.

While the premium Trezor Model T is expensive, considering its safety and other important features, it’s worth the price. If you’re on a budget, try the Trezor One.

Benzinga has developed a specific methodology for classifying cryptocurrency exchanges and tools. We prioritized platforms based on offers, prices and promotions, customer service, mobile app, user experience and benefits, and security. To see a full breakdown of our methodology, please visit our Cryptocurrency Methodology page.


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