Trezor Wallet Reviews 2021
Trezor, a well-known hardware wallet, represents an offline device used to securely store crypto private keys. It is a product of SatoshiLabs. This light-weight compact device works for Windows 8+, macOS, Android, and Linux as well as Android OS smartphones. It is connected to a USB port of your computer via cable.
By maintaining the wallet’s code as open-source, its creators are making sure that any independent developer can verify the validity of the code and thus the security of the wallet. This was the first hardware crypto wallet on the market.
Let us remind you that with a hardware wallet no third party, such as a company or individual, can lose or freeze your funds. This device won’t allow any software to run on it and thus protects its holder against malware and vulnerabilities. Therefore, the sole responsibility of this hardware wallet’s user is to secure and back up their Trezor wallet.
Usually, the package includes the device itself, a micro USB cable, and recovery seeds.
There are two modifications of the wallet, Trezor One, and Trezor Model T. Both modifications support hundreds of digital coins and all ERC20 tokens. We’ve decided to summarize the differences in the comparison table. While the Trezor One has a small screen and two buttons, the Model T has a touch screen and supports more coins and features.
|Model||Trezor One||Trezor Model T|
|Description||Original Trezor version. Has a small screen and two buttons||Next-generation hardware wallet; has a touch screen and faster processor.|
|Features||2x Recovery seed card||
2x Recovery seed card
Shamir Backup (SLIP39), which splits recovery seed into separate shares
|Price||48.76 Euro||149 Euro|
|Supported coins||More than 1000 tokens||
More than 500 coins.
Trezor Model T supports Ripple, EOS, Cardano, Tezos, and Monero whereas Trezor One does not.
Generally, both modifications have the following security features:
- PIN-authentication is required for all operations with both public and private keys.
- Passphrase and recovery seed
- Universal 2FA
- Secure encryption and powerful cryptography
- Regular firmware updates (not automatic).
- Progress indicators for loading and signing.
After you get the device connected to the PC via the micro-USB cable (which is, by the way, rather short), you’ll have your account automatically set up. Using the wallet’s left and right buttons, you will confirm payment addresses and actions in the account.
Among other features of the wallet, we can highlight an in-built exchange, crypto purchase option, and customer support. Unlike Nano family wallets, Trezor requires a wired connection. It’s possible to save when buying several packs of the wallet. Apart from the two mentioned wallets, Trezor shop offers packs and security accessories, such as, for example, titanium-made backup solution Cryptotag.
The referral program of Trezor wallet has three modes: reseller, affiliate, and the offer for one-time bulk orders. Typically, a reseller is an e-shop with the possibility to sell things offline and readiness to sell the device. Resellers are provided with bulk discounts and competitive commissions.
As for the affiliate business, an affiliate shall confirm its willingness to promote Trezor. It can be a choice of financial and crypto bloggers. The referral commission on each sale is 12 - 15%. An affiliate can choose monthly purchases in crypto (BTC) or fiat currency (EUR, USD, CZK).
And the third option comes after those who’d like to make a one-time bulk purchase of devices. No reselling is implied here because it must be a non-commercial purchase.
It is allowed to return the product and submit an application for a refund within 15 days after you receive your device. If the box containing the device is not opened, your refund is going to be full and if the box is opened, then you are eligible for a partial refund. Upon that, the shipping fees are not redeemed.
A claim for a refund is submitted via the support team. The request is usually being processed within 5 business days. The BTC amount of refund is tied to the current exchange rate.
In October 2020, Trezor announced that a coming desktop-based app Trezor Suite will ensure a more solid phishing-proof protection than its browser-based app does. Trezor Suite will be in a beta-version until January 2021. One of its features, CoinJoin, will let multiple users submit “parts” of a transaction to aggregate it into one whole.
Trezor Suite will also allow connecting to a full node as well as integrating with decentralized exchanges and Lightning network. A mobile version of Trezor Suite is also on the roadmap.
Other features include multi-signature transactions, full integration of Monero, mass transfers of Ethereum coins.
The product’s rating on TrustPilot is 4.1 stars and it has 4.5 stars on Amazon, which is rather high. However, there are also complaints about malfunction and setup difficulties. Although the wallet developers strive to simplify the device and maintain easy navigation through its functions, Trezor remains a choice of tech-savvy crypto enthusiasts. Being compatible with multiple hot wallets, Trezor is often recommended as a universal wallet solution by many platforms and services.
I bought it a year ago and it was a good investment. It looks like am ordinary flash driver but it keeps money. Total secure and extremely simple in use. The device is cool.