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All You Need To Know About The Trezor Model T Hardware Wallet
In this article, we will be actively reviewing one of the newest hardware blockchain wallets in the market. Today, we will do an in-depth review of the TREZOR T model which was debited a while ago and just became available for preorder.
The first batch of this hardware wallet was just recently released, and this article will uncover everything about TREZOR T hardware wallet from its features to its installation procedures. Let’s begin with the obvious next question.
What is The TREZOR T Hardware Wallet?
TREZOR T is basically a touchscreen-enabled hardware wallet used to store all types of cryptocurrencies offline. While other Bitcoin wallets are not connected to the internet, the private key of TREZOR T is stored offline away from cyber hackers.
In this review, we’ll discuss a couple of things such as how the TREZOR T storage device works, the supported cryptocurrencies, TREZOR T installation process, comparison with the Ledger Nano S, Functions of the wallet, and many more.
Unboxing The Trezor T Hardware Wallet Package
When you purchase the TREZOR T hardware wallet, the package comes with a couple of things such as a USB cable, TREVOR fanboy stickers, the hardware wallet, and a card for writing down your recovery code or seed.
The magnetic dock is a nice addition to this hardware packaging. This dock can be placed anywhere from the wall to a surface so you can place the TREZOR T in it.
This dock although on for glance might seem to be a useless addition as no one wants to keep their wallets in plain sight.
It is, however, important to remember that this dock can be placed on all surfaces so users can easily stick their wallets in inconspicuous areas like underneath a table or the side of a drawer.
This way, the wallet owners can reach their wallets easily while protecting it from thieves.
How the TREZOR T Storage device Works
This hardware storage device’s USB port comes with a seal which shows users whether the device has been compromised or not.
With this port stickers in place, users can know if someone had tampered with the device before purchase.
The portable and light nature of this wallet makes it very convenient as it can easily fit into your pocket. Users can easily carry the TREZOR T around because of its overall size.
A MicroSD card slot is available in this hardware wallet, and this feature allows users to be able to introduce encrypted storage shortly.
It is important to remember that your recovery seed and all private keys derived from this storage device will not be stored in the card available. You can connect the TREZOR T hardware wallet to say desktop or laptop device using the USB-C connection provided.
The TREZOR T Model Touchscreen Feature
The TREZOR T model has similar features to the TREZOR One device. The major difference between the two is that the T model has a touchscreen as opposed to the two buttons featured in the TREZOR One.
The touch screen although pretty and aesthetically pleasing is not convenient as the touchscreen is tiny and this reduces its usefulness.
The major benefit of this feature and this device is that users do not have to interact with their computers during different processes which include PIN code setting up and hardware wallet recovery.
This device mixes your keypad at different times so no one can guess the code or numbers you are pressing by following your keystrokes. This procedure of keypad numbers changing positions between screens prevents your storage device from being hacked this way.
Cryptocoins Supported by the TREZOR T Hardware Wallet
The TREZOR T storage device supports quite a large number of cryptocurrencies save for Stellar (XLM) and Ripple (XRP).
The major coins supported include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Dash, and EOS
This wallet supports more than 600 coins such as QAX, Monacoin, Ravencoin, Dentacoin, Funfair, Theta token, Nectar, and others. You can find the full list on TREZOR T website.
The TREZOR T Hardware Wallet Model Installation Process
The installation process of the TREZOR T wallet follows the same simple steps as that of the first TREZOR which is now referred to as TREZOR One. The process of installation involves the following:
- Download the TREZOR Bridge which is a part of the software that manages the TREZOR
- Install the TREZOR Bridge
- The next step is to install the latest firmware on your TREZOR device.
Easy, now you’ve successfully installed the TREZOR T wallet
Not to worry, I didn’t miss the step where the user will receive their 12-word seed phrase. TREZOR now allows users to make use of their device by skipping this part instantly.
This means that users can successfully start the device without needing to write the seed phrase down. More information on what seed phrase is available on this wallet’s website.
You’ll obviously need to back up your seed phrase, and this storage device prompts you to do so. This skipping option is an amazing move by TREZOR as it gives users the opportunity to skip the long and complicated process of writing down their seed as part of the wallet setup.
Although this process is fundamental, the fact that TREZOR didn’t make it part of the initial setup is a good move. You have the option of going through the writing down your seed process anytime you are ready as this process is one-time only.
Comparison Between the TREZOR T Hardware Wallet and the Ledger Nano S
TREZOR and Ledger Nano S are the two major competitors in the market. Both of these wallets are successful in managing cryptocurrencies for users. On the cost comparison, the Ledger Nano S goes for $99 while the TREZOR T goes for $170. On this front, the Nano S is cheaper.
The touchscreen feature is the major advantage the TREZOR T model has over the Ledger Nano S model. On the coin support comparison front, the Ledger Nano S supports both Stellar and Ripple. These coins are not supported by the TREZOR T model. Users need to make use of MyEtherWallet to be able to trade, store and interact with other coins stored in their TREZOR T wallet.
This is as a result of the fact that the native TREZOR interface doesn’t support Ethereum. In terms of usability, both wallets are very similar. The Ledger Nano S is slightly smaller than the TREZOR T which is very beneficial, and it also has a more intuitive user interface.
The Ledger Nano S launched their Ledger Live software recently which manages the multiple cryptocurrencies stores on your device successfully. In truth, the Nano S model is more sophisticated, and Ledger Users do not have any real reason to migrate to the T model. With all the facts gotten from both storage devices, the Ledger Nano S wins over the TREZOR T model.
To Wrap It Up
The question of everybody’s mind will obviously be whether the TREZOR T hardware wallet is worth its price. This hardware storage device is very sophisticated hardware whose major feature is its touchscreen functionality.
During the process of recovering your hardware wallet from a seed, you do not need to type in the seed into your computer but your device. This process is a safety measure to help you keep your seed secure and safe.
Users of the TREZOR One model do not see the need to upgrade to the T model as it features work excellently and the coins supported, and basic features are practically similar for both TREZOR models.
Due to the similarity of both models and the fact that TREZOR One has been more battle-tested by the T model, it is the obvious choice for most users. Users trust the old model because it has been tested and trusted by different people and it is human nature to stick with the safer choice than choose a new, untested product.
On the other hand, the TREZOR One goes for €69 as opposed to the €149 price tag for TREZOR T model. This additional price has no justification as the added feature or functionality isn’t a lot.
The TREZOR T device is also slightly larger than the TREZOR One, and this difference is really a downside if you think about it, so the extra price tag is not justified at all.
Also, if you have no problem with the extra price or the extra size difference between the two models, then, by all means, purchase the new T Model as it is a very amazing product which will obviously be regularly updated by the company behind it.
Nothing beats having a new product model so if you can afford it, by all means, purchase the T model. But if you are price sensitive, having the cheaper model isn’t a bad choice as it has pretty much the same basic features as the new model.