Trezor One cryptocurrency hardware wallet review 2019 | finder.com

Trezor One cryptocurrency hardware wallet review

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TREZOR One Wallet
TREZOR One Wallet
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Keep your cryptocurrency safe offline with this popular hardware wallet.

Quick verdict

Great for:
  • Tried and tested over several years
  • Built-in exchange support
  • Established and trusted manufacturer
Not so great for:
  • Price
  • Limited coin support

Check out our full list of pros and cons or read on.

Product Name TREZOR One Wallet
Wallet Type Hardware
Supported Cryptocurrencies BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ

Pros

  • Secure.
  • Multiple currencies.
  • Easy-to-use interface.

Cons

  • Complicated PIN.
  • Limited transaction opportunities.
  • Cost vs free alternatives.
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 One is a cryptocurrency hardware wallet. It’s a device for securely holding cryptocurrency private keys offline in “cold” storage.

When you want to make a transaction you can plug in your Trezor and it will provide the keys to sign off on a transaction, which is done by physically pushing buttons on the device.

Its design protects your cryptocurrency by ensuring keys are always offline and by requiring physical interaction to confirm a transaction and prevent remote theft.

Supported cryptocurrencies

Supported cryptocurrencies: BTC, ETH, BCH, USDT, LTC, XLM, BNB, DASH, ETC and over 700 more.

What’s in the box?

Your Trezor One will come with:

  • A Trezor One device
  • USB cable (type B)
  • Lanyard
  • 2 recovery seed cards (24 words)
  • Instruction booklet
  • Stickers

How to set up Trezor One

You need to set up your Trezor One before you can deposit cryptocurrencies to it.

To set it up:

  1. Open trezor.io/start in your web browser and choose Trezor One as your product.
  2. Follow the prompts through and install Trezor Bridge. It’s compatible with Chrome and Firefox.
  3. Plug your device into your computer.
  4. Install the system firmware by clicking “Install firmware.”
  5. Unplug and re-plug the device after installation is completed, then refresh the site to see the welcome message.
  6. Click on “Create new” on the welcome page.
  7. Click “Create a backup in three minutes.”
  8. Write the words down as they appear, pressing the button on the device to show the next ones. They must be correct and in the right order.
  9. Name your device.
  10. Assign a PIN.

Images: Trezor

Go to TREZOR's website

How to use Trezor One

How to make or receive payments

The Trezor hardware wallet is designed to be used with the Trezor Wallet computer program.

After completing set-up, with your device plugged in, you can load funds onto your wallet:

  1. Select the relevant cryptocurrency on the wallet interface.
  2. Click on the “Receive” tab.
  3. Click on “Show full address” to show the address on your device. Make sure it’s the same as is shown on your computer.
  4. Copy the receiving address and initiate the transaction from wherever you’re sending funds from.

To make a payment from the wallet:

  1. Select the cryptocurrency you want to send.
  2. Enter the destination address and how much you want to send.
  3. Confirm the details and initiate the transaction.

Built-in exchange support

Trezor One has built-in exchange support for Changelly and ShapeShift.

This means you can trade cryptocurrencies directly through your Trezor using the wallet’s site.

You’ll need to:

  1. Go to the Trezor Wallet site.
  2. Select the cryptocurrency you want to sell, found in the top left corner.
  3. Select your account with the funds, then the coin you want to buy.
  4. Choose which account you want to receive the funds into.
  5. Confirm the details of the transaction.
  6. Click on “Continue to exchange” and confirm the move on your Trezor device.
  7. Choose an exchange (Changelly or ShapeShift) and enter the rest of the details, then confirm the transaction. You’ll also be prompted to confirm the exchange on your Trezor hardware wallet before the trade goes through.

Where to buy Trezor One in the US

You can buy the Trezor One at Trezor’s online store or through an approved reseller.

Before using a reseller, make sure you double-check that it’s on the approved reseller list maintained by Trezor.

Never buy a Trezor from anyone except an authorized reseller as confirmed by Trezor itself — and never buy a used or secondhand hardware wallet.

Price

€69 or €189 for a 3-pack.

Go to TREZOR's website

How secure is Trezor One?

Trezor hardware wallets are widely regarded as among the most secure in the cryptocurrency market.

    • Hardware wallet. These types of wallets ensure your funds are held offline.
    • PIN protected. To access the device you need to enter a PIN.
    • Backup phrase. In the event of loss or theft of your device, you can use the seed phrase to restore your wallet on a new device.
    • Open source. Trezor’s design and firmware is open-source and has been heavily scrutinized.

There has only been one confirmed vulnerability of the Trezor One, which involved using an oscilloscope to read energy spikes on the device when plugged in, and from there to decipher the private keys. This issue was fixed years ago, before it was publicly disclosed.

What else do I need to know about Trezor One?

Trezor was one of the first hardware wallet manufacturers in the cryptocurrency scene, arriving in early 2014 as bitcoin started really taking off for the first time.

Since then, it has been a prominent figure in the cryptocurrency world.

In a nutshell

Pros

  • Clear screen. The Trezor One is distinguished by its large and clear screen.
  • Proven security. The Trezor One is regarded as one of the most tried-and-tested hardware wallets in the world.
  • Integrated exchange support. You can seamlessly initiate trades through your Trezor.

Cons

  • Price. At $75+, the Trezor One is pricier than other wallets of its age, and even some newer ones.
  • Limited coin support. Trezor One doesn’t support as many coins as the more recent Trezor Model T or other hardware wallets.
Go to TREZOR's website

Compare Trezor One against other cryptocurrency wallets

Name Product Wallet type Supported Cryptocurrencies
Hardware
BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM & 1,000+ more
NEW – The Ledger Nano X comes with added Bluetooth functionality, more memory and a higher quality screen than its big brother, the Nano S.
Hardware
BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
Hardware
BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM & 1,000+ more
Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.

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Frequently asked questions

Name Product Stainless steel grade Production Price
304
Handmade
US$79-US$199
Choose from 4 ways to backup your crypto in high-quality steel. Store your private keys, recovery phrases or both.
316
Laser cut
US$93
Offer - US$79.95
Keep a backup of your cryptocurrency private keys and recovery seeds in a highly durable steel case.

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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.
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