Updated: 2 february 2023
3 minutes

What’s the Trezor wallet for?

The Trezor Wallet is a hardware device designed for secure storage of cryptocurrency private keys and to facilitate secure transaction management. Here are some of its main functions and uses:

  1. Secure storage of private keys
  2. Protection against online attacks
  3. Transaction management
  4. Compatibility with various cryptocurrencies
  5. Secure backup

The Trezor Wallet provides a secure and offline storage solution for the private keys of your cryptocurrencies, helping to protect your digital assets from risks associated with online attacks and vulnerabilities in software wallets. It is important to note that, while the Trezor Wallet enhances security, it is essential to follow best practices in key security and management to minimize risks associated with holding cryptocurrencies.

trezor review 2023

Trezor Hardware Wallet: advantages & disadvantages

Benefits of Trezor Wallet:

  • Enhanced security: Trezor uses a hardware key disconnected from any network to store its users’ funds, protecting them from cyberattacks and hacking.
  • Total control of funds: Trezor users can control their private keys directly from the device, without needing to trust a third party.
  • Compatibility: Trezor is compatible with a wide variety of third-party platforms and applications, enabling users to easily manage their cryptocurrency wallet.
  • Ease of use: Trezor offers an ergonomic, easy-to-use user interface, making cryptocurrency management accessible to users of all skill levels.
  • Wide choice of tokens: Trezor offers storage for over 1,000 different tokens.

Disadvantages of Trezor Crypto Wallet:

  • Risk of breakdown: As Trezor is a hard wallet, it relies entirely on the device to function properly in order to access funds.
  • Price: Trezor is a relatively expensive physical wallet compared to other online wallet options.
  • No mobile app: longer access to information.
  • Complex configuration: Trezor’s initial setup can be a little complex for users without advanced technical knowledge.
what is trezor wallet

Trezor wallet review: step-by-step tutorial

  1. Buy Trezor wallet: purchase your crypto wallet from the official website or an authorized reseller.
  2. Configure your Trezor: connect your Trezor to your computer with a USB cable. Follow the on-screen instructions to configure your wallet securely. Choose a random PIN.
  3. Create a wallet: create a new wallet by following the on-screen instructions. Make sure you keep your recovery phrase in a safe place, so you can restore your wallet if your device is lost or damaged.
  4. Add funds: connect your Trezor to your computer using your PIN. Visit a cryptocurrency exchange platform to buy cryptocurrencies or transfer tokens in your possession to your Trezor wallet.
  5. Send funds: select the cryptocurrency you wish to send, enter the destination address and the amount, then confirm the transaction on your Trezor, making sure that the address displayed on the screen is correct.
  6. Receive funds: to receive funds, simply share your public Trezor address with the sender. The funds will be automatically credited to your portfolio.
  7. View your transaction history: access your transaction history at any time to check your wallet transactions.
  8. Keep your Trezor wallet and recovery phrase safe, and never share your information with untrusted third parties.
  • Two-factor authentication
  • Automatic firmware verification
  • Ultra-secure updates
  • PIN code for authentication of private and public key operations
  • Two-factor authentication
  • Automatic firmware verification
  • PIN code to authenticate public and private key operations
  • A secure update procedure

Conclusion – Our opinion of Trezor Cold Wallet

Trezor is one of the most secure cold wallets available. It’s easy to learn and use. Trezor is a good choice for crypto holders who want a simple, yet highly secure offline wallet. However, it lacks the Web3 and NFT functionalities that their designer Ledger has already built in.

FAQ - Frequently asked questions about Trezor Wallet

Are there any fees associated with using a Trezor wallet?

Yes, you can set transaction fees in Trezor Suite. When you carry out a transaction, select the desired fee from the available options: Low, Economy, Normal or High. You can also define customized fees to suit your needs, if required.

How long does it take to receive a Trezor wallet after placing an order?

The standard delivery time for Trezor devices is 3 to 5 working days. This starts once your order has been processed and the package has been dispatched. You can track your package every step of the way until it arrives at your door, as all packages are fully traceable.

How can I contact Trezor customer service?

There are several ways to contact the Trezor customer service team. You can fill out the form on their website with your request, and they’ll get back to you as soon as possible. Alternatively, you can use the chatbot on their website to chat in real time with a customer service representative. Both options offer convenient and reliable ways to get help with any problem.

Can I use my Trezor wallet on several devices?

Yes, you can use Trezor with your Android phone. Trezor is compatible with Android phones as well as computers. You can use all the wallet’s features, including buying crypto-currency, on both devices. So whether you’re on the move or at home, Trezor offers a solution thanks to the Trezor Suite app.

What should I do if I lose my Trezor wallet?

If you lose or damage your Trezor, don’t worry. Trezor has been designed with this scenario in mind. You can restore your funds on a new device if you have your Trezor’s secret recovery phrase (12-, 18- or 24-word phrase). Enter your recovery phrase on the new device, and your funds will be restored.