Keep Your Crypto Safe In Cold Storage!
The Trezor wallet is the best toy under $100 if you are someone who collects cryptocurrency. I bought my first one over a year ago and now own more than one. Rather than bore you with the technical details you can find on their website – i’ll give you my real opinion.
Its Easy To Use
Out of the box you simply plug the USB into your computer and the other end which is micro USB into your Trezor. It works on almost every platform and interfaces with you through the web browser. I didn’t need to read the instructions to install it or send my first transaction – you might not either.
I was storing my BTC in “paper wallets” previously. I was concerned that I mismatched the keys so I would test the accounts before using them – which of course is not the smart thing to do. The Trezor gives you the accessibility of a hardware wallet (you can actually see your balances) – but it also gives you a paper recovery option. When you first setup your Trezor- you need to fill in a number of random words on a blank card that comes with the Trezor. If your wallet is lost or stolen – you can recover your old wallet on a new Trezor by using the paper recovery. I made a few copies of each paper recovery phrase list and laminated them – just make sure the paper never gets compromised!
A cool feature the Trezor has is the ability to generate new addresses. I can send BTC to a different address and have it on my Trezor every time I make transfer to it. This obviously increases anonymity and is a great feature.
When BCH forked it only took a few days for the Trezor team to release a beta version of their software that allowed you to claim your BCH and spend it. I was able to get it to market within a week or two. They previously mentioned they wouldn’t support it right away and to move it elsewhere if you wanted faster access to it. In light of that they did a great job getting the update out quickly when it was clear there was value to it.
Multi Currency Support
It currently supports BTC, LTC, ETH, BCH, BTG, ETC, DASH, ZEC and as I mentioned above – they are constantly updating.
Security And LCD Screen
The big security feature is the fact that there is a LCD screen along with a computer. When you login you are asked for a pin – an image shows up that looks like the number pad on the computer but with no numbers. When you look at the LCD screen you see the number pad with numbers in a different order. Using the LCD screen as a guide you enter the number that make up your pin. This eliminates the chance of someone recording your pin as the numbers are in different locations every time. You also have buttons that need to be pushed to initiate transfers and other things – go to their website for the full breakdown.