What are the advantages of the Trezor Wallet?
What is the Trezor wallet?
It seems that Trezor is well known to almost everyone, but for those who don't know, this company is the provider of wallet and digital wallet services for cryptocurrencies. Their model is that of a cold or physical wallet. What does this mean? It means that our cryptocurrencies will be stored offline, making it almost impossible to hack or steal them.
But who is behind the Trezor project?
The company Satoshi.labs, a veteran of the blockchain market, with one of its founders, Market, has been working in blockchain mining since 2010. A few years later, and after meeting other market gurus, they joined forces and created the physical-digital wallet Trezor in 2013. All this was, and is, developed in the Czech Republic, a place with a flourishing ecosystem in the cryptocurrency market.
The company's message is clear:
"Your online cryptocurrencies can be stolen and copied at any time. Go offline. Store your currencies with Trezor in the hardware wallet."
Shortly after its inception, the product achieved great success and undoubtedly remained one of the world's leading wallets. It is one of the most widely used for storing large amounts of cryptocurrencies.
Advantages of the Trezor Wallet
- Control over your money
The Trezor Wallet wallet gives you full control over your bitcoins. This means that no third party will be able to freeze or lose your funds. However, you are still responsible for securing and backing up your wallet.
- Variable validation
Payment validation functions are provided by the wallet you use with this device. Please see the validation score for the wallet you plan to use.
- Full transparency
The Trezor Wallet is open source and built in a deterministic way. This means that any developer in the world can audit the code and make sure that the final program does not hide any secrets.
- Very secure environment
The Trezor Wallet is loaded from a specialized secure environment provided by the device. This provides very strong protection against computer vulnerabilities and malware because no programs can be installed in this environment.
- Variable privacy
Security features are provided by the wallet you use on this device. Please see the privacy score for the wallet you plan to use.
- Variable fee control
Fee control features are provided by the software wallet you use with this device.
Is the Trezor wallet secure?
In principle, security is one of the keys to the success of this digital wallet, and it is perhaps the main reason people buy it. However, people always say that they have had problems with bugs in the system and possible hacks.
The web portal steemit commented on a case of a Trezor security flaw that was around for a while. However, it is unknown if it was used for hacks or not, and it consisted of something like the private key somehow remaining embedded in the SRAM chip even after the gadget was unplugged. This situation must have been actual because Trezor installed a security upgrade specific to this issue a few months later, solving the problem.
In general, it is a secure crypto wallet system, much faster than much of the competition, that works more on the network. Notwithstanding, this does not prevent that there may be occasional security problems and the occasional hacking in clueless people who do unsafe practices online.
On its website, Trezor publishes a page dedicated exclusively to giving data concerning all the problems that may have occurred with its cryptocurrency safeguarding tools. In this sense, the company's policy is one of maximum transparency. Unfortunately, the last issue we can see there dates back to 2018, in a recorded situation on Github.
There is also a novel service on this secure site. It turns out that Trezor rewards those developers who manage to discover possible bugs or flaws in the system. The most useful ones are listed on the page, with a link even to their pages.
The safety features of Trezor products are:
- Firmware type verification that only works correctly if used from SatoshiLabs
- Ultrasonic hardware seal, which makes it very difficult to restore after a breakage.
- Protection of transactions with digital keys, which can only be modified after secure authentication processes.
- Maximum Security Upgrade Service
- Reliable backup and recovery services
How does it work?
Trezor sells hardware products that are responsible for storing the keys for our bitcoins and other cryptocurrencies. If we want to use them, we will have to connect them to the computer via a USB connection.
Trezor supports no less than 1,400 cryptocurrencies, so it is difficult not to find any of those on the Market. Therefore, the first thing we will have to do is configure the wallet. To do this, we must first have a Trezor gadget, whatever model it is. Once we have it, the next thing is as simple as connecting it to the computer.
However, to use the wallet, we have to connect to the company, and for that, we have to perform some operations such as using the Chrome Extension, the Trezor bridge, or the Android Manager. The Trezor Bridge is software that we download and we can use on our devices. This we can get it from the same company website. On the other hand, the Chrome extension works only if we work with the Google browser.
Trezor for Android is available in the Google Play Store and is ideal if the most common use we will make of the service is through the mobile. In this case, you have to make sure of the compatibilities, however. In the process of connecting to one of these systems, we will be asked to create a PIN, which will be necessary to join our hardware device and perform operations with cryptocurrencies.
Is Trezor a scam, and is it trustworthy?
From what we have seen so far, it is pretty clear that Trezor is a service that is far from being a scam. Its main feature is to provide the highest security in the environment of cryptocurrencies, which is the fame it has earned. It is known throughout the ecosystem as a model to follow in terms of security. We are therefore facing a product that can be trusted. It will only be necessary that the user makes good use of it.
Among the most outstanding advantages of Trezor are the following:
- Possibly the safest way to store cryptocurrencies
- One of the wallets that manage the largest amount of cryptocurrencies and tokens.
- Prestigious company in the blockchain market
- Excellent backup/backup options (more security)
- It is compatible with many devices in addition to the computer, for example, with Android