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Bitcoin

Software Wallets Part 2 (Multibit HD)

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Multibit is another great software wallet that has support for Trezor.  Multibit is currently in beta, but with Trezor you don’t have to worry about that.  Why?  Because nothing happens to your Trezor if a software wallet goes haywire.  To find out more about the Mulitbit Beta visit this link.  

Multibit

Multibit is another great software wallet, it’s very easy to use.  The  developers  of Multibit have put in a lot of work to redesign the wallet and so far it is awesome.  Speaking of the developers, if you have any feature requests or questions feel free to ask them.  They are super friendly and often respond soon after you contact them.  Using your Trezor with Multibit is very straightforward, all I did was start Multibit with my Trezor plugged in and Multibit did all the work.

The first screen
The first screen that appears
Enter your Trezor Pin
Enter your Trezor Pin like you do on myTrezor.com
The Loading Screen
Almost Done!
The "home" page
The “home” page
Bitcoin, Security

Software Wallets with Trezor (Electrum)

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You do not have to use myTrezor with your Trezor hardware wallet.  At the moment, there are a handful of wallets  you can use with your Trezor.  The software wallets that work well to an extent are Electrum 2.0, Multibit HD and Greenaddress.it.  There are other software wallets that are planning to support Trezor such as Armory and Bitpay’s Copay.

Electrum

Electrum happens to be my wallet of choice because it has a lot of features.  One of the most important feature Electrum has in my opinion is the ability to use  a passphrase with Trezor.  Using a passphrase can be risky, because if you forget your passphrase then you lose all your bitcoins, there is no to get them back.  Using Trezor with software wallets is quite easy, easier in my opinion than setting up a new software wallet as the Trezor holds all the important “stuff”.

New_Wallet_2015-03-16_16-21-24

Initialize the creation of a new wallet

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Select the type of wallet

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Choose Trezor and Electrum will close, once you reopen it you should be able to use your Trezor with Electrum.  Give Electrum a little time to sync up and you are good to go.