Trezor One Review
The Trezor One is a hardware wallet that is designed to keep your bitcoin and cryptocurrency in an offline environment. This means you can securely store your crypto without the fear of it being hacked or stolen. Are you wondering whether or not the Trezor One is worth it? Keep reading as we will answer this question and more in our Trezor One Review!
Background And History
The world’s first cryptocurrency hardware wallet, Trezor, was invented with the intention of bringing top-quality crypto security to the masses. Until now, it has sold hundreds of thousands of devices in more than 150 countries worldwide.
It all started in 2011 right after a Bitcoin conference in Prague. This was a time when Bitcoin was still a very young project and secure storing of funds required a good deal of knowledge and IT skills. It was at this time that two programmers and crypto enthusiasts, Pavol “Stick” Rusnák and Marek “Slush” Palatinus, started to think about a solution that would allow anyone to store their bitcoins securely and in a trustless way. The idea that they came up with was a small, single-purpose computer that would keep the private keys protected in an isolated environment. It would be entirely open-source and auditable.
And so they started working on it. The first international announcement and crowd-funding happened in 2013, and the rest is history. Everyone was suddenly able to get a hardware wallet that was secure, easy to recover and easy to use — a true revolution in the crypto industry. Trezor was the product that brought seed recovery and passphrase protection (BIP39 and BIP44), now widely used in all hardware wallets and most software wallets. In fact, the Trezor open-source code powers today more than 10 other hardware wallet brands.
In 2013, the creators of Trezor founded SatoshiLabs. The company has been further developing and marketing Trezor and its related services — Trezor Wallet, Trezor Password Manager, and beyond. The premium Trezor Model T came in 2017 and became a popular high-end alternative to the original Trezor One.
Created by SatoshiLabs in 2014, the Trezor One is one of the most trusted hardware wallets in the world. It offers unmatched security for cryptocurrencies, password management, and serves as the second factor in Two-Factor Authentication. These features combine with an interface that is easy to use whether you are a security expert or a brand new user.
Security is, naturally, at the heart of Trezor's products, below we'll go over some of their main security features.
The bootloader always verifies the firmware signature. The firmware is only run if correctly signed by SatoshiLabs. Otherwise, a warning is shown.
Ultrasound hardware seal
Trezor hardware case is ultrasonically welded, making it difficult to be restored after breakage.
Protected key operations
All operations involving private and public keys are only allowed after user authentication via PIN.
Secure update procedure
The bootloader erases the device memory if the firmware signature is invalid. Downgrade to a vulnerable version also wipes the memory.
Additional passphrase support
Trezor supports BIP39 passphrases, which are never stored or remembered on the device. This provides protection against local hardware attacks.
The bootloader is write-protected and the JTAG is disabled, so an attacker cannot replace it.
Reliable backup & recovery
Your recovery seed protects you against theft, loss, or destruction of your device. Simply restore the recovery seed, and your wallet is back.
The Trezor One has a small OLED screen that will display your transactions in plain text including the amount, when the device was initialized, and when you send/receive coins.
The built quality isn't the best but it's nonetheless durable.
Setting up and using the Trezor One is extremely easy and straightforward - as it should be! - Trezor offers desktop software that you can use on all major operating systems, on the other hand, Trezor doesn't have a mobile app.
The desktop app is also very clean, constantly updated, and very user-friendly.
Easy-to-use, ready within 10 minutes.
Intuitive and calming interface, inspiring your confidence.
Manage your entire digital identity.
Coins, keys, or passwords. All in one device, owned and controlled by you.
Advanced features for expert users.
Compatible with many applications, ready for power users.
The Trezor One supports more than 1000 assets and it lacks some of the assets supported by the Trezor Model T, if you'd like to check out the updated list of supported assets on both devices and decide which one is right for your portfolio, follow the link below.
Trezor One Pros & Cons
Trezor One: Pros
- Well-established company
- Very user-friendly
- Very affordable
- Strong security features
- Technology is entirely open-source and auditable
Trezor One: Cons
- Missing a lot of coins
- Built-quality isn't great
- It has faced some security issues in the past
Trezor One Review: Verdict
Trezor is one of the most well-established companies in the world of crypto, it is extremely transparent with entirely open-source and auditable technology.
After our Trezor One review, we found this to be a great device, it is extremely user-friendly - great for beginners! - very easy to set up and use, the desktop app is very clean and intuitive.
At the time of writing, the Trezor One supports more than 1000 coins, this may seem like a lot, but it actually isn't, nonetheless, the number will naturally increase in the future, if you're looking for an alternative that supports more coins, you can take a look at the Trezor Model T.
The built quality of the Trezor One isn't great, the device is made of plastic, that being said, it is nonetheless durable and an excellent option if you're on a tight budget.
Trezor has faced some security issues in the past, nonetheless, the company has grown stronger and currently offers a lot of security features.
If you'd like to get the Trezor One, follow the link below!