Review score of the Trezor hardware wallet
How does the Trezor wallet work?
The Trezor Wallet was the first Bitcoin hardware wallet launched in 2014. With the Trezor wallet you can keep your bitcoins and other crypto money in cold storage, but you can also instantly deliver bitcoins. The Trezor is a small key-size device, and after connecting with the USB port of your computer, you can easily can started. The private key is only stored on the device itself, so you’re always assured that hackers can not reach your bitcoins.
- When you first launch the Trezor, choose a PIN (4 to 8 digits).
- Next, the device generates the seed (24 words) that generates the private key. These 24 words (your private key) must be kept in a safe place, preferably on paper, or even better: use Cryptosteel, a crowdfunding product that lets you store your private key in steel.
- To convert bitcoins to your hardware wallet, plug the Nano S into your computer and use the Ledger Chrome app to view and manage your wallet addresses.
Security of the Trezor wallet
With the built-in security measures of the Trezor wallet, you can be sure that your bitcoins are 100% secured.
The Trezor is an HD wallet that manages your private keys. The seed is generated offline and is only visible on the Trezor screen, so that the seed is never visible on a device connected to the internet. The Trezor is secured with your self-configured PIN, which is required for trading bitcoins. After each incorrect attempt to enter your PIN, the wait between the attempts will be increased, so that someone who would try to guess your PIN would need to wait 17 years for 30 attempts.
If you lose the Trezor, or when it goes missing, you can reset the entire wallet to another Trezor or wallets such as Electrum or Mycelium. To send a transaction, use the physical buttons on the device.
Privacy is also well arranged. The company behind Trezor, Satoshi Labs, can not track your actions in any way because the Trezor hardware wallet has no serial number. In addition, all software is open source.
Reputation of Satoshi Labs
Satoshi Labs, the company behind the Trezor, is known as reliable. The company is one of the first to dodge security for the storage of bitcoins. The company’s customer support is also well managed, and the company still releases new products regarding bitcoin hardware safety.
Trezor wallet coins
On the Trezor wallet you can also store Ethereum and several altcoins in addition to bitcoins, such as Litecoin, Zcash and Dash. The full list:
- Ethereum / Ethereum Classic
- Bitcoin Testnet
Receiving and sending payments is as easy as it can be for of the above currencies because of the various native apps on the Trezor.
Order the Trezor wallet and secure your bitcoins en altcoins!
The Trezor bitcoin wallet can be ordered here and costs €89 plus shipping.
Buy the Trezor wallet
Buy the Trezor hardware wallet now via the official site and start securing your bitcoins in no-time.