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Trezor Model T review
The Trezor Model T is Trezor's flagship model, but is it worth the price?
Finder’s rating: 4.0 / 5.0
★★★★★
Good for users who prefer a touch screen on their hardware wallet.
Not such a good price point for what the device offers.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
The Trezor Model T is the most advanced hardware wallet Trezor offers.
The Model T came to market in February 2018 and provides the same level of high security we've come to expect from Trezor — one of the most trusted names in the world of hardware wallets.
The Model T allows you to store the private keys to 1,456+ digital assets, including NFTs. The Model T is also the only hardware wallet on the market today that has a touch screen.
But the device lacks in its mobile device compatibility, and the native software for the device — the Trezor Suite — does not offer as many features as Ledger's native software. With that in mind, Trezor has a strong focus on Bitcoin and offers many unique features Bitcoin enthusiasts may be interested in, such as Taproot support and Shamir Backup.
Model T pros and cons
Pros
Large touch screen (240x240px)
Cold storage for over 1,456 crypto assets
Multisignature protection for your Bitcoin
Supports Taproot and allows you to engage with Bitcoin (BTC) smart contracts
Can anonymise transactions in Trezor Suite using the Tor interface
Features the Shamir Backup system to help distribute your recovery phrase across multiple locations
Buy and sell crypto directly from your wallet
Can be synced with Exodus Wallet for improved usability
Supports NFTs on Ethereum
Can be synced with third-party Web3 wallets such as MetaMask for DeFi
Cons
One of the more expensive hardware wallets on the market today
Limited mobile compatibility
Can't stake assets via native Trezor Suite software
Can't manage NFTs via Trezor Suite
Doesn't support iOS
What's in the box?
You'll find the following items in the box for the Trezor Model T:
Trezor Model T device with a holographic seal over the connector
Before unboxing your Trezor Model T, carefully check the shrink wrap and the box itself for any evidence of tampering.
Once you open the box, make sure that the holographic sticker over the USB input for the Trezor device itself hasn't been tampered with. If someone has accessed your device, it may be vulnerable to hacking and theft of funds.
Contact Trezor support if you have any concerns about the integrity of your device.
Trezor Model T price
The Model T sells for US$219 through Trezor's official website.
This puts its price point significantly above Ledger's Nano X, its top-of-the-line model that retails for US$149.
The Model T is also significantly pricier than Trezor's entry-level wallet – the Trezor One – which retails for US$69.
Where to buy the Trezor Model T in Indonesia
Purchase the Model T directly from Trezor's website – and not from a third party – to reduce the chances of someone tampering with your device before it reaches you.
Trezor lists some authorised resellers that sell the Model T on its site. If you decide to buy from a reseller, these are the only ones that you should consider.
The Model T can store private keys to 1,456+ digital assets – which is more than what the Trezor One supports (1,289+).
But it's far less than the 5,500+ digital assets that Ledger hardware wallets support.
Managing NFTs on the Model T
You can store the private keys to your NFTs on the Ethereum blockchain with your Model T.
But you won't be able to view or manage your NFTs using Trezor Suite. You'll have to sync your Model T with a third-party software wallet such as
MetaMask instead.
Purchasing and swapping crypto coins through Trezor Suite
You can now use MoonPay in Trezor Suite to purchase crypto with dozens of fiat currencies, including Indonesian rupiahs.
And if you want to swap your crypto, there's no need to send your coins to an exchange. Instead, you can do so in Trezor Suite using a swap feature
powered by Changelly, which allows you to swap coins and tokens across blockchains.
Trezor Model T security
The main hardware mechanism that secures the Model T is its ARM Cortex-M4 embedded-arm processor @ 168 Mhz.
Because the core technologies that Trezor employs are all open-source – including its physical hardware – anyone is able to review and test the code in an effort to expose flaws.
In October 2019, crypto exchange Kraken found a flaw that made the older Trezor Model One model hackable if a user had physical access, the required tools and specialised knowledge. In response, Trezor made the necessary changes to future editions of its hardware wallets to eradicate this flaw.
You can use the Shamir Backup system to secure the assets that you manage on your Model T. This system distributes your recovery phrase among up to 16 shares so that your phrase can be broken up and secured in multiple locations.
Trezor specs compared
The most prominent difference between the
Model T versus the Trezor One
is that the Model T has a touch screen and will cost you more out of pocket.
As the Trezor Model T is the flagship Trezor model, it can be compared to the
Ledger Nano X – Ledger's flagship hardware wallet model.
The Model T's most defining feature is its touch screen, which is something that the Ledger Nano X lacks.
But the Ledger Nano X supports 5,500+ crypto coins and tokens, while the Model T only supports 1,456+ and the Ledger Nano X is Bluetooth-enabled and iOS compatible, whereas the Model T is neither. Trezor maintains the decision to omit Bluetooth is intentional as it believes it makes its devices more secure.
The Model T provides an extra layer of security for your digital assets with its Shamir Backup system and multisig signing.
Make sure that the shrink wrap around the box in which you receive your device, the box itself, and the holographic sticker over the USB input for the device haven't been tampered with before setting up your Model T. If you suspect tampering, contact Trezor support for assistance.
Follow these steps to set up your Trezor Model T device:
Click the "Get Desktop App" button and download Trezor Suite for whatever desktop operating system you run.
Connect your Model T to your desktop using the USB-C cord.
Click the "Setup Trezor" button.
Click the "Install firmware" button.
Click the "Create new wallet" button.
Click either the "Standard seed backup" button or the "Shamir share backup" button. (These instructions will proceed as if you chose the "Standard seed backup" option.
Click the green check mark next to "Do you really want to create a new wallet?"
Click the "Create backup" button and record your recovery seed on the recovery seed cards provided.
Click the "Begin backup" button to confirm that you understand the back-up instructions.
Click the "I understand" button in response to the statement: "Never make a digital copy of your recovery seed and never upload it online!"
Write down the 12 recovery seed words in order as they appear on the device's touch screen.
Press the "Hold to confirm" button on the device's touch screen once you've written down all 12 words in order.
Type in each recovery word as the device prompts you to do so. This verifies that you've written down the 12-word recovery phrase correctly. Press the "Continue" button.
Click the "Continue to PIN" button in the "Wallet backup complete" window and click the green check mark next to the "Do you really want to enable PIN protection?" text.
Click the "Set PIN" button and enter the PIN on the device's touch screen.
You may also be prompted to give your Model T a name.
How to use the Trezor Model T
To use your Model T, you will use the Trezor Suite app on your desktop in conjunction with the device.
Connecting with Trezor Suite
Once Trezor Suite is open, follow these steps:
Open the Trezor Suite app on your desktop.
Plug your Model T into your desktop using the USB-C cable.
Enter the PIN for your Model T.
If you gave your Model T a name, you will need to confirm the name.
To store the private keys to your digital assets on your Model T, you must first add the apps that support each blockchain to Trezor Suite and your Model T. Follow these steps to do so:
Click on "Accounts", which is next to "Dashboard" at the top of the app interface.
Click the green "+" next to "My accounts" and choose the crypto you wish to work with, such as Bitcoin (BTC).
Your account for that asset should then be listed to the left of the app interface under "My accounts".
Click on the name of the crypto under "My accounts" to bring up information on your holdings in that digital asset in the centre of the Trezor Suite interface.
Repeat for all of the apps you'd like to use on your device.
You can use Trezor Suite to trade between cryptocurrencies. This allows you to trade cryptocurrency without having to store it on a centralised exchange, which helps reduce the risk of theft and counterparty risk (e.g. the exchange shutting down).
To trade in Trezor Suite, plug your Trezor device into your computer and then select the Accounts view.
Click the green Trade button and open the Exchange tab.
Select the assets you want to swap and select the level of fee you're willing to pay. The fee level will determine the rate of the transaction.
Keep in mind that certain trading pairs may not be available and that the coins and tokens supported for trading only include those that can be stored on Trezor devices.
When you click the green Compare offers button, you will see the different offers from different exchanges for the trade. Trezor Suite only serves as an interface for these different exchanges. It isn't an exchange in and of itself.
Trezor partners with services like Changelly, ChangeNOW, CoinSwitch and ShapeShift to facilitate trades, though not all of these operate in Indonesia.
The majority of the exchanges do not require you to complete a Know Your Customer (KYC) verification process. But some may, and you'll have to complete said process to complete the transaction.
Once you've selected an offer you like, agree to the terms and conditions.
Confirm the receiving address via your Trezor device. Once you confirm the address, click Continue transaction and then click Confirm on Trezor & send.
Here's how to store the private keys to your Bitcoin (BTC), for example, on your Model T:
Open the Bitcoin app on Trezor Suite.
Copy the Bitcoin wallet address displayed in the app.
Input the address in the space provided in the wallet from which you're sending funds and click send.
Confirm the address on your Model T, which should be displaying the address.
Wait for the transaction to process. Some transactions can take longer than others based on network congestion.
Your updated Bitcoin balance will show once the transaction has been completed.
Follow the same steps for whichever digital assets you'd like to manage via your Model T.
You can't stake cryptos via Trezor Suite.
But you can sync your Model T with either Exodus Wallet or a third-party browser extension wallet such as MetaMask to then stake your assets.
Alternatives to Trezor Model T
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Our verdict
The Trezor Model T is one of the most secure hardware wallets with a touch screen on the market today.
It is the flagship model from Trezor – the pioneer of crypto hardware wallets – and helps you to manage the private keys to 1,456+ crypto assets as well as your NFTs. And you can protect the digital assets that you manage on your Model T using the Shamir Backup system.
The Model T's native software – Trezor Suite – provides a slick interface to help you manage your digital assets and even buy digital assets with fiat through MoonPay, but it doesn't allow you to stake your assets nor view and manage your NFTs the way that you can on Ledger's software counterpart.
Securely storing the private keys to your crypto assets is a very risky part of investing in this asset class. Do your homework on all of the
best crypto wallets out there before making any decisions.
That being said,
hardware wallets are widely considered to be one of the safest ways to store the private keys to your crypto, especially if you are an active investor looking to hold long term.
Trezor's Model T has never been hacked. Previous iterations of Trezor devices were proven to be hackable in some circumstances, but the Model T doesn't contain these vulnerabilities.
Is Trezor Model T more secure?
The Trezor Model T is more secure than previous editions of Trezor hardware wallets. You can use the unique Shamir Backup feature to add an additional layer of security when creating your seed phrase.
How much crypto can I store on Trezor Model T?
You can store the private keys to 1,456+ crypto coins and tokens on up to 14 different blockchains on your Model T.
When did Trezor Model T come out?
The Trezor Model T came to market on 26 February 2018.
Why is Trezor Model T so expensive?
The Model T is Trezor's flagship model and one of the only hardware wallets on the market with a touch screen and unique security features like Shamir Backup. Although the initial out-of-pocket expense is considerable, it's the sort of investment that's widely considered worthwhile if you plan on holding substantial amounts of crypto.
What happens if Trezor goes out of business?
In this scenario, you would be able to transfer the private keys to the crypto coins and tokens that you hold on your Trezor device(s) to another wallet if you no longer felt comfortable using a Trezor device.
Hardware wallet ratings methodology
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We full rate cryptocurrency hardware wallets by scoring each wallet out of 10 for 3 components: security, functionality and cost. Each component is weighted based on importance, as follows:
Security: 50%
Functionality: 40%
Cost: 10%
These scores are aggregated and visualised as a total score out of 5 stars.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Frank Corva is a cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. He worked in Ghana and Venezuela before earning a degree in applied linguistics at Teachers College, Columbia University. He taught writing and entertainment business courses in Japan and worked with UNICEF in Nambia before returning to the States to teach at universities in New York City. He spent years as a publicist and graphic designer in the music industry, working for record labels like Warner Music Group and Triple Crown Records, and he's also a former music journalist whose writing and photography has been in published in Alternative Press, Spin and other outlets.
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