Trezor, Cryptocurrency Hardware Wallet Reviewed
With the developments in cryptocurrency and blockchain technology, investors are gathering and holding on to more and more coins nowadays. When you collect your stock of bitcoin, Ethereum, zcash, and so on, how do you keep them from hackers and other thieves? Most people decide to leave their cryptocurrencies on the exchange where they bought their coins. This is definitely not the safest way of storing your coins. Most cryptocurrency professionals would recommend a hardware wallet instead as it’s been seen as the safest way of storage. Companies like Ledger and Trezor are providing this need.
What is Trezor?
Trezor is basically an offline bitcoin wallet intended to help users keep their cryptocurrency within their reach and particularly secure. It works as a very safe cold storage device, meaning it is always offline. Though, it offers great flexibility and connectivity when there is a need to trade or exchange cryptocurrencies. It’s noted by many to be the most trusted and secure way to store bitcoins and Altcoins. The wallet of Trezor is a first of its kind hardware wallet, which allows users to store their digital currencies safely, without getting worried about malware, keyloggers or third parties. While there are no other hardware wallets accessible, these hardware wallet is one of the most familiar bitcoin hardware wallets out there. It is a physical storage device which you can securely store your bitcoins on.
This hardware wallet is compatible with desktops and hand-held devices. As it supports MacOS, Windows, and Linux. Next, to this, it’s also compatible with all Android devices. To some concerned users, this might be a huge plus. There are also Google Chrome extensions available for Trezor that will help users to easily store cryptocurrencies on their hardware wallet.
Key Security Features
The key security features which this hardware wallet offers include:
- PIN protection. Trezor is secured by a PIN code you pick. Every time you enter an incorrect pin code, the wait time till you can re-enter the pin code will increase by a power of two. And there’s no starting the timer over. You just have to wait it out.
- Recovery seed. Trezor offers you with a casually formed 24-word code, which you can use to recover your wallet if your Trezor is taken or misplaced.
- Single-purpose device. A bitcoin wallet only, there are no apps or downloads existing for the hardware which could potentially compromise security.
- Limited attack surface. Trezor limits its communication with other devices. It has no batteries, cameras for scanning, Bluetooth or Wi-Fi. If the USB device isn’t linked to a device, it will automatically turn off.
Coins Supported By Trezor
The digital currencies supported by Trezor includes Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, Dash, Zcash, Dogecoin and ERC-20 Tokens.
Trezor is among the very first companies to propose hardware wallet. European startup created these wallets in Satoshi Labs. The hardware wallet links with the computer through USB and includes an OLED display. The user interface of this wallet is very easy to use and simple to understand. The hardware wallet is a perfect choice to meet all your need for storage. The wallet offered by Trezor gives you full control over your cryptocurrencies. And protects you against malicious software.