Trezor

I recently decided to get myself a Trezor,Trezor is a hardware wallet that is created by SatoshiLabs.  So far I’ve had my Trezor for about a week,although I havent used it too much.  Using it has been great, it’s very easy to use and does its job well.  All you have to do to begin using it is download the plugin from mytrezor.com and the setup process will begin.  At the time of this post mytrezor.com is the only supported wallets, but there are more on the way.  Greenaddress has an update for one of their wallets that let you use Trezor on your mobile device (I haven’t tried it yet because something seems to be going wrong, but will most likely be fixed soon).  Electrum and Multibit are two wallets that will work with Trezor.  Currently you can use Electrum and Multibit with Trezor if you install the beta/development versions.

The Device

I really like the form factor of the Trezor, its small but not too small.  It feels good to hold, and doesn’t have a cheap feel to it,as you expect for a $119 single purpose device.  It definitely feels durable, and I have never worried about breaking it (I’m more worried about leaving it somewhere or hiding it somewhere that I can’t remember).  The overall design of Trezor is awesome, its hard to go wrong with a design so simple;(A plastic case,a screen and two buttons).  If I really want to be picky about it the lanyard was very hard to get into place, I ended up using a thumb tack to help push it through.  This has to be one of my favorite tech gadgets that I have ever got my hands on, even though it is so simple.  If you notice in the pictures below, the box is designed to show if anyone has tampered with it.  Just to open it I had to rip the box because there was so much glue holding it together.  The tough box is to make sure no one can easily send you a modified Trezor.  Another interesting security feature is that once you unplug Trezor, it shuts off…there is no battery in it.  Satoshilabs has designed Trezor to limit the areas that could be potential vulnerabilities, that’s why they don’t plan on adding any other communication channels such as bluetooth, NFC or wi-fi.

The Software End

The first thing to do is to download the plugin that lets Trezor work with your computer and more specially mytrezor.com.  I really like mytrezor.com, and the only problem I have with it is it’s the only wallet that works 100% with the Trezor, as others are quickly coming.  The initialization process is quite simple, the hardest part of the process is figuring out how the pin system works.  To prevent keyloggers from stealing your pin, an alternative keypad is displayed on the Trezor’s screen.  The positions of the numbers change each time you enter your pin, so you have to check your Trezor every time you want to enter your pin.  I really don’t have anything I dislike about the wallet except that sometimes I cannot reach the website.  The overall security is very impressive, before buying I tried to think if there were any ways to circumvent the security measures.  I came up with one, only to find that it was virtually impossible.  Trezor uses a 24 word seed that can be used to recover your wallet in case something bad happens (DON’T LOSE THE SEED).  The keys never leave the Trezor, it only signs transactions that you have allowed.  In a sense Trezor is practically a cold storage wallet because but with more practicality.

 

The Verdict

This is one of my favorite tech gadgets that I own, I think that it is worth the money; if you plan on buying a lot of bitcoins or your just a crypto enthusiast.  It is a little pricey but when you think about it makes sense, you buying security to your money as you are your own bank.  If you always worrying about  securing your bitcoin’s then get yourself a hardware wallet, then you can worry about losing the hardware wallet and not your bitcoins which are probably worth a lot more.  The biggest problem I had was shipping, there was only two options, DHL express or standard shipping.  Standard shipping was 2 days to 6 weeks, which all depends on your location and being in the U.S; I haven’t heard great things about shipping standard.  But now you can purchase Trezor through Amazon, which should solve any shipping problems that once existed.  This hardware wallet is great for an ultimate security solution, and its easy of use.  The price is a little high when you glance at it, but when you realize what it does; its worth it.  With Trezor you really are your own bank, a bank with the best vault in the world.  If you have further questions check out the Trezor FAQ page here.  I’ll also be making a post showing the setup process and the wallet, so be sure to visit soon if you want to see.

 

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