Trezor was released in 2014 as the industry’s first hardware bitcoin wallet that gave users secure cold-storage services along with the useful option of being a hot wallet. By connecting the device to your computer with a USB cable, you can store your cryptocurrency keys offline and also ensures that your assets are within an arm's reach, thereby providing you with great connectivity as well.
With its USP of high security, this Trezor wallet review of 2019 examines the Trezor Model T and provides the prospective buyer with a relevant set of pros and cons. The latest Trezor review also delves into some interesting options that Trezor's creators, SatoshiLabs have come up with, in the form of a Black Friday sale, a scooter and an Initial Coin Offering. Read more to find out how these seemingly disparate products fit together for one great product pitch.
Touted to be the forerunner in hardware wallet technology, Trezor Model T is an updated version of Trezor 2 with a massively improved, intuitive user interface that sports touchscreen capability & an RGB LCD display. Trezor One's two user-buttons have been done away with and lack of space for a QWERTY leaves the user to depend on the T-9 on-screen keyboard for all purposes, which could prove to be a hindrance. However, this has been attended to in one aspect, as Trezor T comes with a memory that can store words from the recovery seed, thereby speeding up user navigation.
Trezor T's bigger dimensions as compared to Trezor One has faced mixed reviews. While the increased size provides the device with a more premium appearance, the downside is the material used: plastic, which many users have felt to be a let-down given the high price-tag.
Trezor Model T's most important features are its security updates. A great feature added to it is the device authentication that has to be completed on the device even before its connected to your computer. The device is designed to draw power from your computer if and only if you successfully enter the security code; USB communication has therefore been made quite tamper-proof.
Another interesting feature is that T-9 keyboard is not your regular keypad. The arrangement of numbers actually changes each time around, which rules out possible thefts from fingerprints that remain on screen after use or someone just mimicking your moves across the keypad and guessing their way into your device. This is a very clever security addition.
The other aspect that reveals Trezor T's high priorities in ensuring security, is the time period between wrong password attempts. Waiting time period increases exponentially by a power of 2 following every failed attempt at guessing your password. This makes the device tamper proof to brute force attacks, considering it resets its memory on the 15th wrong attempt anyway, in addition to the 18 hours that it will take to allow another attempt.
Trezor T goes one step further in assuring the physical authenticity of the user, by adding a "long press to confirm" feature, which is a mandatory step before any transaction is deemed "digitally signed" and sent. This thoughtful addition prevents accidental transactions and in the case of a bot-attack, prevents automated operations from jeopardizing your assets.
Such nuanced planning of the security architecture only serves to build more faith in a brand that has already established itself in its niche field.
Trezor uses Open Source Firmware that's named Trezor Core. The key feature is that the firmware can be upgraded to new versions and also can be expanded for future growth. Currently, Trezor supported coins are eight in number, with new ones along the way. This openness to future inclusion of new cryptocurrencies is catered to, by the inherent nature of the core being open sourced and therefore being open to third-party development.
The memory required for accommodating upgrades comes from the new microSD slot that has been added to the device, therefore, keeping the possibilities open for more Trezor supported coins.
A 12-word recovery seed backs up the wallet and this is compatible with HD wallets standards: BIP32/39/44. The use of adhering to standards is that, in case of wallet-theft, loss or damage, your wallet can be recovered through another HD wallet or Trezor model that also uses the same BIP32/39/44 technology.
For product support, you are given access to an efficient troubleshooter over and above the support team that also answers any queries by 24 hours and provides solutions by three days. However, this claim isn't supported by customer feedback in reality.
In conclusion, Trezor Model T seems to have established its strength in terms of its security architecture, along with its inbuilt adaptability to future growth through the Open Source Firmware. Physically, the addition of the RGB LCD screen has an instant appeal, however, there is some consensus in the fact that the increase in the price of Model T over the previous versions is disproportionate to the value added. This is especially true if we focus on the lack of premium build, plastic case, and no QWERTY. But if you are not one to judge a book by its cover and you place your bucks on ensuring cutting-edge safety techniques to protect your assets while also having an eye on growing them, then Trezor Model T's offerings are a perfect choice.
Another factor of appeal that we attribute to Trezor is it’s attention to customer feedback. Key changes like physical authentication, a touchpad, an attractive LCD display are direct responses to users who expressed a need for protection against malware in their PCs and a desire for a user-friendly experience.
For those looking to invest in the latest Trezor model, it is best to purchase one during the Black Friday sales that come up before Christmas because that's when the best deals come to town. SatoshiLabs, Trezor's developers offer 3 Model Ts for the price of 2. Those who still prefer Model One's minimalistic design can still avail them at 33% discount only during the Black Friday sale. (Trezor Black Friday)
SatoshiLabs recently came up with an interesting proposal besides the sale, in the form of a new product release that generated a buzz in the bitcoin circles. Releasing the Trezor Scooter, they took to their blog to extensively advertise its features, ending with a surprising catch: one could purchase them only via special TREZOR Scooter Coin (1TSC). These scooters can be pre-ordered by buying TSCs at the launch of Trezor's ICO- Initial Coin Offering.
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2020-05-06 15:17:25.070169 | 2 min