Trezor One Hardware Wallet Review

by Quintin WoodsOctober 8th, 2018

Too Long; Didn't Read

Trezor was the first company to produce a hardware wallet that stored and protected Bitcoin. They have since grown their reputable brand with hardware wallets that can store in excess of 500 different cryptocurrencies. Their OG status is something well-deserved and should be respected. Trezor continues to be a well-established and trusted company, iterating on their products over the years. Their goal has always been to provide a secure and simple option for users to store and transact with cryptocurrency. We always want to ensure you have the best crypto experience, so let’s take a look at the Trezor One.

featured image - Trezor One Hardware Wallet Review

What is a hardware wallet?

Contrary to a program or web wallet, a hardware wallet stores cryptocurrency in an offline capacity. It’s state of being doesn’t lie on the internet or with a connected device. Only the owner can access the valuable cryptocurrency that is stored on the hardware wallet. All transactions are routed through it, placing all power and knowledge with the user. The Trezor One is your secure mediator to ensure safe and discrete cryptocurrency transactions.

Why use a hardware wallet?

Any information that is available online can be accessed. This can be done by the entity who facilitates exchange or an unscrupulous individual from the outside. Centralized exchanges and connected wallet providers can disappear, go offline and be hacked. Even if the companies behind these storing options are trusted, there are absolutely no guarantees that your funds are safe. The best way to think about it: if you are connected, there is always someone who knows or is searching for a backdoor. The user has complete ownership over his money; something we all want and deserve.

Design for Simplicity

A positive user experience is essential to promote adoption. One of the best characteristics of the Trezor One is its simplistic design. There is one small screen and two buttons: approve and cancel. Even before reading the “Getting Started” pamphlet, it can inferred how the Trezor One is used. Its slender body is aesthetically appealing and has a unique shape that is rarely seen. The Trezor team continues to be very calculated in catching the attention of the customer through design and ensuring they remain pro-Trezor with a simple and efficient use process. The size of the Trezor One allows for it to be easily stored and accessed. Additionally, it’s high level of sleekness provides a sense of camouflage when it is being transported.

The entire setup process takes less than five minutes. The Trezor team has efficiently made everything plug-and-play. A new user plugs in the device and visits the Trezor website stated on the hardware wallet screen. Within a few steps, the user has successfully set up their Trezor One and is ready to transact. Not only is the device designed to be simplistic, but setup and use are clear and concise. With programmed support of over 500 cryptocurrencies the Trezor One is a highly versatile hardware wallet. If a customer ever has problems, they are able to receive support from easily accessible Trezor customer service agents. It’s no wonder Trezor continues to remain a trusted and viable option for safely storing cryptocurrencies.

Private and Secure

Trezor hardware wallets have been tried and tested. Their security is seen as the “Gold standard” in the crypto industry. Private keys remain safe and passwords are encrypted in the cloud. What happens if your Trezor goes missing? After all, the device itself is necessary in order to access the the cryptocurrency stored on it. Fear not, two sets of recovery seeds were written down during setup. These are a series of generated phrases that are unique to a specific device. Many hardware wallets include only one pamphlet where customers write down their recovery seed. Trezor understands mistakes happen. Not only could a hardware wallet be lost, but written recovery seeds could be as well. Including two pamphlets shows Trezor has the best interests of the user at heart. Simply buy a new wallet and recover all the previously stored cryptocurrency. Their loss prevention mechanisms ensure a sound user experience without sacrificing any security. It may be something small, but this really stands out.

Trezor wallets have no serial numbers or remote access capabilities. They do not track any actions performed after the customer receives the device because there is simply no way to. No username or password is required to be entered online when purchasing a Trezor device. This provides a foundation for privacy-centric use if the customer desires. The confidentiality of transactions strictly depends on the software used to interface with the internet. The Trezor Bridge is an approved program that is downloaded when setting up the device. All software is open source. This high level of transparency results in trust and encourages a community of building. It is clear Trezor values its reputation and continues to produce hardware wallets that focus on security and privacy.

“person's hands” by rawpixel on Unsplash

Closing

Trezor has contributed to numerous milestones in the cryptocurrency industry. Bullish or bearish, they’ve remained strong through it all. Their presence and impact has provided exceptional upward growth. The user-centric design of the Trezor One is clear, making the process of storing and using cryptocurrency very understandable. The Unbankd Team shares the same mission of simplifying crypto. We strive to provide the information and tools necessary to understand cryptocurrency and leverage its positive features. We love placing humans at the core of our ideas, designs and innovations. We get that crypto is fresh, new and complicated. Its revolutionary because its never been done before. Together, we can break down the tech-heavy and complicated barrier associated with crypto. Unbankd: cryptocurrencies, simplified.