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Trezor - The First Cryptocurrency Hardware Wallet, which has derived a way for next-generation cryptocurrency wallets to come live. This article is going to be a complete step by step user guide for Trezor hardware cryptocurrency wallet and could explore you a lot of interesting information regarding Trezor.
We all may have experienced the usability of hot wallets that is online wallets, but the hardware wallets are opposite to the online wallets. This kind of hardware wallets will come as a security device which can hold the cryptocurrencies outside of an application connected to the internet or any other third party cloud storage, to avoid security theft, hackings or asset loss. Trezor is the first cryptocurrency hardware wallet, that made that ideology to work in real-life use cases for storing cryptocurrencies.
Trezor Is the first introduced Cryptocurrency Hardware Wallet, that was introduced in 2014, by a cryptocurrency company, satoshilabs. Trezor can be called as the first cold wallet which has been invented to safely store bitcoins and other cryptocurrencies offline, that is outside of the internet connectivity. This wallet is like a USB device that can be connected with any kind of handheld and computer device like, mobile phone, tablet, desktop, wearables and more. The high-end security features of the trezor have attracted many cryptocurrency exchanges, traders, average bitcoiners towards it and have become the most trusted cryptocurrency hardware wallet. The arrival of Trezor has lifted the cryptocurrency protection to the next level.
So, I hope you now had a basic idea about trezor, before knowing about how to use trezor, let us unveil its security features, types, and how it works.
Trezor is a single purpose cryptocurrency wallet, that is to store cryptocurrencies, approve transactions, and can help you to manage any kind of your digital identity. Trezor gives you a 100% guarantee for your assets and protects all the crypto entities from possible online and also offline security risks. Trezor never stores private keys to a system of devices connected to the internet and confirms the transactions away from the internet. Private data in trezor will not be leaked under any circumstances, rewritten, or erased even if you haven't used it for a long while. Trezor never requires a battery backup instead the power can be acquired via USB Connection.
There are two models in trezor wallet, one is Trezor wallet one and Trezor wallet T. Each has some significant differences. Trezor wallet one was introduced on 29 January 2014 & Trezor T the premium model has been released on 26 February 2018. Let us have a short comparison between the two types of trezor wallets below.
Trezor One - it is a golden standard, and it is a first-generation wallet, raised with the single purpose that is to store cryptocurrency wallets, Whereas it resembles as a keychain and came with a minimalistic design. It weighs nearly 12 gms.
Trezor T - This is a premium standard of Trezor wallet, It has some special features better than trezor one has. Trezor T comes with a colorful LED touch screen, SD card Slot, Secure Device Input. Weighs 22 gms.
Source : Trezor.io
Trezor supports to store a variety of cryptocurrencies and tokens which includes Bitcoin, Ethereum, Litecoin, Monero, NEM, Dash coin and more. You can check out the entire list of coins that are supported by Trezor here.
Check out the enhanced security features
Reference : trezor.io/security
Other Advanced Features
How to Recover If the Trezor Wallet is Lost, Damaged or Stolen?
Trezor gives you an ultra-wide option to easily recover all your data even if your wallet is lost, damaged, fired, stolen. This can be achieved with Master key access, known as “ RECOVERY SEED”.
Recovery seed acts as an offline backup for your entire trezor devices. It has 12 to 24 words long passcode that has been automatically generated while trezor setup. The 24 words are like English words and it will be unique only to your device. The combination of words in a sequence may repeat in a line. The beauty of the recovery seed is, If you lost your device you can import it in another wallet that has the same setup as the trezor has.
Check out How to recover your wallet with the help of recovery seed here
You can shop trezor wallet on their official online trezor wallet shop, or from third party e-commerce website like amazon.
Trezor One Usually Comes Nearly at a price of 59 EUR(65 USD), and Trezor T comes under 149 EUR ( 166 USD).
Check out Official Trezor Shop
Every trezor wallet comes up no pre-installation and setup process, so it is a must to set up the wallet before using start using. Here is the easy to follow steps for setting up your Trezor Wallet after purchase,
To ensure maximum security follow below steps too
(Note: PIN protects your device, whereas passphrase protects your recovery seed)
To send or Receive payments we have to follow the steps below,
Reference : wiki.trezor.io
I hope we had a detailed session on classifying everything about trezor wallet, now it's time to describe what we can do with trezor wallet integration.
We believe, securing the cryptocurrencies is a more important one. Though Trezor wallet could be a better solution to safeguard your digital asset,, it must need some technical support to ensure the proper connectivity and integration of your trezor device with the Trezor Wallet.
We at bitdeal have experienced developers who can connect your trezor device with web applications, wearables, and mobile app by following the complete community guidelines proposed by the trezor developer community. In some rare cases, during the initialization process recovery seed backup process may end up failing because of poor connectivity, and power shortage. We can recover this kind of issue with instant recovery support.
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Hi this is Sam, Working as Technology advisor and blogger at bitdeal. Having 4+ years of deep understanding and experience in cryptocurrency trading industry. I keep on hunting the new trends and technologies that are related to crypto's as well as blockchain Industry. Stay tuned with me at bitdeal, to get interesting updates regarding bitcoin, cryptocurrencies and other emerging blockchain technologies
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