According to a survey conducted among more than a thousand adults in the world, more than 57% know what cryptocurrency is. Moreover, more than 79% have no idea where to buy it, and even less of those who understand how to store it safely.
Digital funds are stored in crypto wallets. In essence, such a wallet is a program that contains your public and private cryptographic keys. Keys allow you to work with the blockchain on your behalf and perform cryptocurrency transactions.
It is important to understand that the currency in a crypto wallet is not the same as ordinary money in your pocket. Your wallet is, in fact, just two keys, it does not contain any money. The digital money itself is on the blockchain and never leaves it. When they are transferred from wallet to wallet, only one action occurs: only the next block describing this transaction is added to the blockchain.
What is Trezor Wallet?
The Trezor wallet is one of the very first hardware wallets and is very popular among electronic money users. He was a pioneer in cold storage and for many has become the security standard for storage and transactions with Bitcoin and other cryptocurrencies.
Trezor is the development of the Czech startup SatoshiLabs, which also owns the first Bitcoin mining pool Slush and CoinMap, a map of places where bitcoins are accepted for payment. Satoshi Labs employs a dozen developers and is headquartered in Prague.
When using a wallet, your transactions are safe even on an unsecured computer thanks to modern cryptography and closed transactions that take place only within the architecture of the wallet.
A big plus is the presence of a special separate device, which has a small display and several buttons. All your transactions are confirmed by mechanical pressing of the button, which are located on the device, and the connection of the wallet is accompanied by the introduction of a pin code. If you lose your wallet, you can always restore your funds using private keys.
The convenience of Trezor lies in the scale of its use; it is available on all gadgets, the operating systems of which are: Windows, Linux, Mac, as well as Android. This means that you can install your wallet on both your computer and your phone. To do this, you just need to connect the device to a convenient, for work, gadget with one of the listed operating systems using a USB cable.
Since the wallet has been holding on to its niche of the best crypto wallet for quite a long time, it can already be assumed that there are many digital funds on its list of uses. This is Bitcoin and many different (popular and rare) altcoins. Moreover, the list of coins and digital funds is constantly growing, thanks to the development of the company. All this is done for the greater convenience of users.
The Trezor wallet review on the official website provides several security systems that protect against viruses and hacker attacks, which encourages users to use this particular hardware wallet.
The first thing you should pay attention to is the moment you receive the device after purchase. Before opening the package, you need to make sure that there are no defects, as well as inspect the holographic stickers for damage or movement.
If you notice any deviations, then you need to contact the support service on the official Trezor website. Many users are advised to record the moment of unpacking with a camera.
Also, during the activation of the wallet, the system provides a SEED phrase, which must be written in a notepad or in a separate text document on a clean USB flash drive. The SEED phrase is used to register a wallet, as well as to restore it in case of loss.
Using the SEED phrase, the user can register the desired number of accounts. It is also possible to bind as many keys to them as you like.
The wallet also has an individual password for entry, consisting of four to nine characters. Without a device, this password cannot be entered, since the arrangement of the numbers on the display changes with each attempt to enter.
Trezor wallet features
In addition to storing electronic currency, Trezor introduces a crypto exchange function, which greatly simplifies the work with the funds that will be stored on it. This makes the wallet even more attractive to users.
The main feature of the TREZOR wallet is the ability to store Bitcoin tokens outside the network. In this case, if the device is connected to a PC or other device via a USB cable, the wallet will be able to perform the necessary financial operation.
A distinctive feature of this type of wallets is their compact size, identical to the size of a car key, allowing you to attach the device to keychains as a keychain, which makes it possible to use it at any time.
Technical support is available around the clock for all users, but it has one single drawback, it is only available in English. Which is not a special problem in the modern world, with the presence of so many online translators.
How does Trezor wallet work?
The popularity of cryptocurrency transactions is gaining momentum more and more, and more and more countries are participating in the development of the field of digital finance. Like any savings, digital assets need reliable and convenient storage, which hardware storage can provide in the best possible way. The Trezor wallet is one of the most requested options for storing your digital funds securely.
How to use Trezor Wallet? After purchasing, you get a device that is in itself the key to all the work with the wallet. You use it at the time of registration, enter passwords, and also learn from it a special SEED phrase. The device connects to your computer or your phone using a USB cable. Thus, all keys on the device remain safe.
The device itself is very compact and provides quick access to the wallet, which is undoubtedly convenient when you need quick access to your electronic money.
After choosing an account, you need to go to the transactions tab. Then use the "Get" option. This will create a special address string that consists of different characters. Next, enter the address of the sender wallet and the amount of digital currency.
Sending electronic currency is also carried out in the transactions tab. Only in this case the user needs to use the "Send" function. Then the address of the recipient wallet is entered, the cryptocurrency and the amount are indicated.
Trezor allows you to choose the size of the commission, which directly affects the speed of funds transfer. The lower the commission, the longer the transfer will take and vice versa. Therefore, many users are advised to choose an average commission.
How to start using Trezor wallet in Malaysia
Trezor is shipped to over 150 countries, making it more accessible to users around the world.
You can order the device through the official Trezor website. Also, third-party companies provide the sale of the device, but the Trezor wallet review makes it clear that it is advisable to make a purchase from an authorized representative. Everything for the safety and security of users' funds.
On the official website, the device can be purchased for euros or cryptocurrency, purchase with several altcoins is also available. Before buying, the user can familiarize himself with all currencies and their commissions, and choose the most profitable option.
Trezor Wallet account recovery
The SEED phrase that you wrote down in your notebook when registering your wallet exists not only to protect your device from hacking, but also to restore your wallet. Therefore, the recorded SEED phrase must be stored securely.
You can write down the SEED phrase in a notepad. But if there is a risk that the user will not be able to make out their underline, it is better to save the 24-word phrase in a text document, on a separate, formatted USB flash drive.
Pros and cons of Trezor wallet
Like any crypto wallet, Trezor has its pros and cons.
The positive qualities include:
- Large amount of available cryptocurrencies.
- Easy to use.
- Positive user reviews.
But like any device, Trezor has some downsides:
- Price of the device may seem overpriced for some.
- English language support.
Trezor wallet alternatives
Trezor can only be compared to one hardware wallet: Ledger. The Ledger wallet also has good security and a large number of cryptocurrencies available. But many users still prefer Trezor as one of the progenitors of hardware wallets.
Trezor Wallet Frequently Asked Questions
Why do you need a Trezor wallet?
In addition to its functions as a wallet, Trezor has a crypto exchange system, which greatly simplifies the work of users. Since all actions can be performed using one system.
How reliable is Trezor wallet?
Trezor has two-factor authentication, which makes it even more secure to use. To enter the wallet system, in addition to using the Trezor device itself, you also need to enter the password you have set. It is entered using the device; the password can also contain from four to nine characters.
How to send cryptocurrency from Trezor wallet?
You need to go to transactions on the wallet, select the desired action, specify the address of the recipient wallet, the type of currency and the amount.
What types of cryptocurrencies does Trezor Wallet support?
Trezor supports Bitcoin, popular and rare altcoins, and can store all Ethereum based tokens (ERC-20).
If my computer crashes, can I restore my wallet to another computer?
The answer to this question is undoubtedly yes, since the Trezor device is still with you and you can easily connect it to either another computer or to an Android phone.