Security is everything when it comes to investing in cryptocurrency. No matter how much money you make by finding hidden gems or investing strategies… it will amount to nothing if your crypto is stolen or lost. For this reason, choosing a secure crypto wallet is one of the most important decisions in the journey of any crypto investor.
When it comes to crypto wallets, there are a lot of options you can choose Software, Hardware, Paper, multi-currency, multiple-platform, etc, we have covered some of them in our section on wallets. You choose which one is right for you.
However, despite the existence of so many options, there is an undebatable truth: Hardware wallets offer the most security of any wallet type.
Usually disregarded by beginners due to them being “too difficult” to use, the truth is that hardware wallets are now more accessible than ever. This is not only due to the reduction in prices but also to their simplicity. No matter if you are a beginner or veteran in the crypto space… A hardware crypto wallet might be the right fit for you.
When it comes to cryptocurrency hardware wallets, there are 2 names that rule over all others: Ledger and Trezor. We have already reviewed both of Ledger’s wallets in our Ledger Nano X and Ledger Nano S reviews.
Competing toe-to-toe with Ledger, you can find Trezor. With its Trezor One and Trezor Model T, the company has gained increasing popularity over the years. In this Trezor Model T review, we will be taking a look at everything you need to know about this popular wallet, including:
- What is the Trezor Model T?
- Who manufactures the Trezor Model T?
- What are the Trezor Model T’s technical specifications?
- How does the Trezor Model T work?
- What cryptocurrencies does the Trezor Model T support?
- Does the Trezor Model T charge fees?
- What features does the Trezor Model T offer?
- Is the Trezor Model T Secure?
We hope that with all of this information you will be able to decide if the Trezor Model T is a good fit for you. This is especially important when considering that a hardware wallet is not something you want to regret buying as unlike software wallets, they have an upfront cost.
However, by reading this Trezor Model T review, you are already investing in your crypto’s security and on your way to make a good decision! Be it to get the Trezor Model T or not.
What Is the Trezor Model T?
Before talking about the technical aspects of the Trezor Model T, we need to make sure you understand what it is.
The Trezor Model T is the premium product developed by Trezor, offering the most features and power. As a hardware wallet, the Trezor Model T offers its users unparalleled security by allowing them to store their private keys safely and offline.
If you don’t know what a hardware wallet is we recommend you check our Ultimate Crypto Learning Resource. However, here is a brief explanation if you are short on time: A hardware wallet is a physical device that stores your private keys to ensure only you can access your crypto holdings.
Unlike software wallets, hardware wallets operate completely disconnected from the internet. This adds an extra layer of security by preventing third parties from attacking you and gaining control of your private keys. The physical nature of the device also means that you can be sure no one else has access to your crypto as long as you have it with you.
While many choose software wallets due to their increased convenience and flexibility, hardware wallets offer increased security when compared to them.
It is also important to note that hardware wallets are becoming increasingly convenient via BlueTooth connection, touch screens, dedicated apps, etc. In the case of the Trezor Model T, it has all of this with a convenient size and weight… But that is something for another section of this Trezor Model T review.
The Trezor Model T is a hardware wallet with support for thousands of cryptocurrencies, support for multiple apps and protocols, high OS compatibility, powerful features, and much more. Let’s keep up with this Trezor Model T review so you can decide not only if this wallet is right for you, but also if the hype is well-deserved.
What Company Manufactures the Trezor Model T?
The Trezor Model T is manufactured by SatoshiLabs, a company based in the Czech Republic and was founded in 2013. The company was the result of Marek Palatinus’ search to improve the Bitcoin ecosystem not only by being an early promoter of pool mining but also by creating a new standard to store crypto.
Marek met with Pavol Rusnak and Alena Vranova, two crypto experts who joined him on his search to develop a new way to store Bitcoin. The trio developed a prototype in 2012 that would allow the isolation of private keys by using hardware; this would be their first wallet.
After raising enough funding in 2013 and launching the company, this prototype was developed to make it more attractive and convenient for consumers. The company launched the Trezor One In 2014, with the Trezor Model T being launched 4 years later in 2018.
Now, the company is not only selling its wallets in more than 140 countries but also has a community of more than 80 internal and external contributors.
The company is also an active contributor to the blockchain, crypto, and cybersecurity industries, having developed more than 22 security standards, more than 40 source code repositories, and contributing to major open-source crypto projects.
After being around for more than 8 years, SatoshiLabs has become a household name in the world of crypto not only for its wallets but also for these contributions. Its products are known for their incredible security but also their sleek design and availability of features.
What are the Trezor Model T’s Technical Specifications?
That’s enough about SatoshiLabs. After all, this is intended to be a Trezor Model T review. Let’s jump straight to the topic and talk about the Trezor Model T’s specifications.
In the previous section, we mentioned that this wallet has been around for several years. However, don’t let the launch date of this wallet mislead you! Despite being around since 2018, this model continues to be one of the most secure and convenient wallets out there, still packing more than a punch.
Dimensions & weight
When it comes to its size, the Trezor Model T is not as small and lightweight as other hardware wallets. However, it is still small enough for its users to take it with them wherever they go should they choose to do so.
- Size: 64x39x10mm
- Weight: 22g
It is important to note that the fact that this model is heavier and bigger than alternatives like Ledger’s Nano S and Nano X is the result of additional features.
While we will look at them in more detail later, the Trezor Model T has a bigger screen that supports touch navigation and an expansion slot. When considering this, the size of the Trezor Model T is completely understandable and still better than anyone could expect.
Microcontrollers & connector
The Trezor Model T is not only a wallet intended to provide you with security but also convenience and high performance. To achieve this, the wallet has a powerful processor that ensures a seamless interaction with your crypto when using the device.
The CE and RoHS certification ensure the wallet is compliant with health and safety regulations in the European Union, ensuring the quality of the products.
The use of the USB connector type C ensures that you are able to easily use your device by using a cable compliant with the widely used standard, which would not be possible with devices like the Ledger Nano S.
- Processor: ARM Cortex-M4 processor @ 168 MHz embedded on STM32F4 microcontroller
- Connectivity: USB connector type C. Does not support Bluetooth.
- Certifications: CE, RoHS
Screen and Peripherals
When it comes to screen and peripherals, the Trezor Model T shines when compared with Ledger. Despite not having Bluetooth connectivity like the Ledger Nano X (which can be seen as good or bad), the Trezor Model T has found a way to stand out.
- Screen: 240×240 px, RGB LCD display with touch capability.
- Peripherals: Micro SD card slot
While having a big touch screen might not be a deal maker for many, it offers increased convenience for users wanting to interact with their crypto on the go. While this is possible with other wallets using a cable or Bluetooth to connect to your phone, it can be a hassle.
A lack of storage can be a huge problem with other wallets, which prevent users from escalating their investments as they grow… This is not an issue with the Trezor Model T. The addition of a Micro SD card slot is also a nice touch that will ensure advanced traders have no problems when using their device.
The Trezor Model T is compatible with most major Operating Systems (OS). Unfortunately, while Android is supported, iOS users will not be able to connect their wallets to their phones at this time. This is a missed opportunity by SatoshiLabs when considering that a bit over 25% of the global population has an iPhone.
- Compatibility: Windows 10+, Linux, macOS 10.8+, Android.
How Does Trezor Model T Wallet Work?
If you have been paying attention to this Trezor Model T review, you might have already realized that SatoshiLabs is looking to make its products as Accessible as possible. For this reason, using the Trezor Model T is not as difficult as most people believe hardware wallets to be.
Setting Up Your Device
To use the Trezor Model T you will first need to set it up once you remove it from the package. This process is pretty straightforward for those who have already used a wallet in the past. However, if you are a beginner, it might seem a bit tedious and time-consuming. If this is the case for you, remember that all of this contributes to the security of your crypto.
To start the process, you will need to connect your Trazor Model T to your computer and follow the instructions on your device. Once you have done so, you will need to visit the trezor.io/start address in your favorite web browser (preferably Chrome or Mozilla Firefox).
While you will have the option to install the Trezor Suite Desktop app, this platform is still under development. As such, we recommend going with the browser process, which you can do by finding and clicking on the “Trezor Suite for web” option.
The app will now look for your device and once it recognizes it will proceed to install the latest firmware when you click on “Install firmware”. This process will take a few minutes, with the device rebooting once the process is complete.
Once the wallet restarts, you will need to generate a new wallet or recover another wallet. For security purposes, it is recommended that you create a new wallet instead of recovering one that could have been compromised. You will need to confirm the creation of the new wallet on your Trezor Model T’s screen.
You will then be prompted to create a backup, which will be a unique seed phrase you will need to write and keep somewhere safe. Once you do, you will need to confirm it to ensure you can regain access to your wallet if ever needed.
The setup process will continue by asking you to name your device, which is especially useful if you have multiple Trezor Model Ts. You will then need to set up a PIN that will be required to protect your new wallet from unauthorized access. Once you confirm the PIN, the setup process will be complete!
Now, it is only a matter of using your Trezor Model T to receive, send, or trade your crypto assets. This can be done by using the same interface you used to set it up in the Trezor Suite app. If you have ever used a cryptocurrency software wallet, you will find the process to be extremely similar.
Unlike with Ledger’s wallets, you are not required to install any applications on your wallet to start operating it. By using the main interface in the app you can find the wallet you want to transact with, followed by the type of transaction.
If you want to receive an asset, just click on receive to get the crypto wallet address. If you want to send crypto, just click on send, fill in the address and the amount, and select the type of fee, followed by clicking send. It is as easy as that!
The exchange and buy functions are just as easy as they use a standard interface that will make trading and buying crypto an easy and straightforward process.
What Other Features Does Trezor Model T Wallet Have
It is important to note that it does more than just being storage for your hard-earned crypto, which is great for today’s world. The Trezor Model T Wallet has other features that will make your crypto journey easier in many ways.
The wallet’s platform comes with a built-in exchange powered by Invity that will allow you to trade crypto and transform fiat into the most popular coins.
This is extremely convenient because it allows you to purchase and sell crypto on your device without having to send it to an external exchange.
Password Manager Capabilities
The Trezor Model T will also offer you the ability to manage your digital identity via its password manager capabilities, SSH, GPG, and U2F. If you are not familiar with these protocols, they are designed to allow you to add layers of security to your accounts on online services by generating unique cryptographic keys on your device.
While these features by themselves are already great, they are not really that unique in the world of hardware crypto wallets.
Connecting to Trezor Using Tor
However, there is a feature that no competitor offers at this time and is a favorite of ours: Connecting to Trezor using Tor. If you are not familiar with Tor, it is a protocol designed to provide complete anonymity when connecting to the internet. Using this feature means you will be able to hide your IP and connect to Trezor’s node even if your government or network provider is trying to block it.
Finally, we have the ability to use Shamir Backup. This is a standard that allows you to divide your private keys into multiple shares, only needing some of them to recover your crypto.
For example, if you were to split your recovery seed into 5 parts, you can make it so that you only need a certain number of them (E.x. 3 out of 5) in order to gain access to your funds.
This means that even if some shares get destroyed or lost, you can still recover your wallet.
This is great for wallets that belong to an organization or group or as a way to improve the security of your passphrase. Using this method you could store different parts of the keyphrase in different locations, ensuring you will never lose it.
Add this to the multi-signature support that comes with the wallet, and you can see why the Trezor Model T is a favorite among power users and organizations.
What Cryptocurrencies Does Trezor Model T Wallet Support?
At the time of writing this guide, Trezor supports 1791 coins and tokens, which is extremely high. As SatoshiLabs is constantly adding support for new coins, this means this number has probably increased by the time you are reading this.
The list of cryptocurrencies supported by the wallet is too long to include in this Trezor Model T Wallet. However, it supports some of the most popular cryptocurrencies you will find in the market at this time. These are some of them:
|Bitcoin (BTC)||Ethereum (ETH)||Cardano (ADA)|
|Tether (USDT)||Binance Coin (BNB)||Ripple (XRP)|
|USD Coin (USDC)||Dogecoin (DOGE)||Avalanche (AVAX)|
|Uniswap (UNI)||Binance USD (BUSD)||Chainlink (LINK) ERC20|
|Litecoin (LTC)||Bitcoin Cash (BCH)||Wrapped Bitcoin (WBTC)|
|Matic Token (MATIC)||Stellar (XLM)|
You can find the complete list of cryptocurrencies supported by the wallet here.
Does Trezor Model T Wallet Charge Fees?
The Trezor Model T will not charge you any fees for operating with your cryptocurrencies… Kind of.
As with every cryptocurrency wallet out there, you will need to pay transaction fees charged by the network you are operating with. However, you can be certain that SatoshiLabs is not charging you additional fees when doing so.
Now, when it comes to buying and trading cryptocurrencies using the built-in features, you will incur fees. As the features are powered by Invity, these fees will not depend on SatoshiLabs either.
The bad news is that the exact percentage or value of these fees is not visible to users as they are already included in the price. While this may be positive to beginners likely to make mistakes, it can be a problem for advanced traders.
That’s it. These are the only fees you will pay when using the Trezor Model T. As you can see, while there are fees, they are not the result of SatoshiLabs charging you to use your wallet. Network fees are a reality you will always need to deal with while those charged by Invity are optional.
Is Trezor Model T Wallet Secure?
The answer to this question is pretty straightforward: Yes. The Trezor Model T wallet offers incredible security for any crypto investor with good security practices. The wallet provides you with several features to ensure the security of your crypto. These include:
- Passphrase Encryption
- Recovery Seed Phrase
- Firmware Verification
- Advanced Backup Features (SSSS)
- Secure Shell (SSH)
- Password Manager
- GNU Privacy Guard (GPG)
- Universal 2nd Factor Authentication (U2F)
- Self-Destruct Pin (Wipe Code)
- Protected Bootloader
- Protected Key operations
As the wallet also stores your private keys in a single-chip base, the Trezor Model T has everything you need to protect your crypto.
But this is not enough for the company as it has also made its code completely open-source. This ensures that private developers can audit the code and help detect any exploits or vulnerabilities, allowing them to be fixed quickly. This is incentivized by the offering of bitcoin rewards that ensure ethical hackers can profit from disclosing these issues.
Lastly, something that we really appreciate about the security of the Trezor Model T is their complete transparency regarding issues with the device.
On the company’s security page you will not only find a list of all past issues but also updates on who reported it and how it was fixed. While many companies approach security with a “Security through obscurity” approach, SatoshiLabs doesn’t… Which as any cybersecurity expert can tell you, is the way to go.
Your conclusion from this Trezor Model T review might differ from ours but no matter what you think, you probably can see why this wallet is so popular. All in all, the Trezor Model T is a great hardware wallet that offers a lot of powers and features.
One of the drawbacks we see on this wallet is the high price at about 170 USD at the time of writing and the lack of Bluetooth, which is useful for some users. While the device makes up for these two, and you could argue they are not really a problem, this is something everyone should consider before buying.
That being said, if you are a power user looking to ensure you have all the tools needed to protect your crypto and interact with it, the Trezor Model T might be the right choice for you.
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