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Trezor South Africa Review: Models, Pros and Cons
Luis Clark
- URL: https://trezor.io/
- Hardware Compatible: Yes
- Price: 69 EUR (100.78 SGD) to 249 EUR (363.73 SGD)
- Staking Rewards: No
- Platform App: Desktop/Browser App
- NFTs Storage: No
- No. of Cryptocurrencies Supported: 1,800+
- Type of Wallet: Cold Wallet
Trezor South Africa Review: Our Opinion
One of the best options if you are new in the crypto space and you want to put security on top of your priorities. Secure and never been hacked, good choice for beginners. It also allows you to transact with various blockchains.
Trezor is one of the safest cryptocurrency hardware wallets on the market. It is a cold storage wallet developed by Satoshi Labs for coins and tokens.
Trezor Wallet is a web-based cryptocurrency wallet that allows users to keep track of their balances, manage their funds, and make transfers. It accepts Bitcoin, Bitcoin Cash, Litecoin, Bitcoin Gold, Ethereum Classic, Ethereum, Dash, Zcash, and other digital currencies.
Trezor Wallet allows users to see all of their transactions in one place, as well as send and receive digital currency according to their preferences. The platform enables teams to buy, spend, and exchange currencies in a safe environment while maintaining their privacy and security.
Trezor Wallet is a hardware wallet that allows storing of cryptocurrencies without exposing sensitive data to a possibly hacked PC. Trezor, unlike most Internet-connected wallets, keeps your private key out of the hands of hackers.
Trezor wallet enables you to use cryptocurrency securely. It uses a USB port to connect to your computer and can be safely utilized on a malware-infected machine.
Pros
- Large screen with touch options
- Funds kept in offline hardware storage
- Highest level of digital security
- Lots of supported currencies
Cons
- Crypto exchanges cannot be used without a hardware wallet;
- Impossible to deposit or withdraw funds from or to debit cards
- Non-sleek design
Trezor: What is It?
Trezor is a cryptocurrency hardware wallet created by SatoshiLabs to provide high security to digital assets. It is one of the safest hardware wallets for storing data and preventing hacks.
It uses a cloud dashboard to track cryptocurrency performance to exchange and trade digital assets. Trezor Bitcoin wallet enables secure payments without disclosing your private keys to a possibly hacked computer, unlike traditional cold storage solutions.
Trezor hardware wallet has several features to help owners safeguard their crypto assets. Examples include two-factor authentication, private keys, and more.
The first complete version of Trezor, dubbed ‘Trezor One’, was released on July 29, 2014, exactly one year after Trezor’s prototype was initially revealed in 2012. On February 26, 2018, a new version, dubbed “Trezor Model T,” was released in more than 150 countries, bolstering crypto safety worldwide.
Cryptocurrencies Supported
Trezor wallet supports the cybersecurity of more than 1,000 different coins including:
- Binance Coin (BNB)
- Bitcoin (BTC)
- ADA (Cardano)
- Dogecoin (DOGE)
- Ether (ETH)
- HEX (HEX)
- XRP (Ripple)
- SHIBA INU (SHIB)
- Tether (USDT)
Who Should Use Trezor?
Physical devices often create transactions within a small area. This means that sending things can be done without needing the Internet, which keeps the transfer secure.
The Trezor wallet, according to the widespread consensus among crypto fans online, is better for people who have a significant number of digital currencies and aren’t regularly trading them. The more coins you own, the more protection you’ll want, which is precisely where the Trezor wallet comes in!
Why Use a Cold Storage Wallet?
Even though many people use hot cryptocurrency wallets, there are risks associated. Your private keys are stored on the Web servers of the company that created the hot wallet. Your private key may be at risk if it is hacked. There’s also the risk of malware infiltrating the device on which your hot wallet is stored.
Over all, the general rule is: not your keys, not your crypto.
These risks are avoided with a cold wallet. Cold crypto wallets store your encryption keys offline. Your keys are never online, even if you connect a hardware wallet. You may connect a cold wallet to a malware-infected PC without risking your cryptocurrency.
Different Model Comparisons
In the history of a crypto hardware wallet, the Trezor One has a special place. This is because it was the first hardware wallet to be released back in 2014. This device includes all the essential features for keeping your encryption keys safe from nefarious actors.
The Trezor Model T crypto wallet is based on the Trezor One’s best features and builds on top of the early hardware wallet. The presence of a bigger touchscreen is the most visible difference between these two devices.
The touchscreen provides an intuitive interface to verify and approve all operations. When engaging with the physical device allows for a significantly better user experience.
Beginner Friendliness
The Trezor One is for people who like simplicity. The Trezor One device is pricier than other wallets and even some newer ones. It is, however, less expensive than the Model T, making it appealing to people interested in getting their feet wet in cryptocurrencies.
In practically every area, the Trezor Model T is a wonderful update to the Trezor One. This device is more user-friendly, as it features a touchscreen that opens a broader range of features. The Trezor has the unique benefit of handling everything directly on the device, eliminating the need to set up the Trezor using your phone or laptop. As a result, the Model T is ideally suited to beginner users.
Trust and Security
When it comes to security, there is a substantial difference between the Trezor One and the Model T. Trezor One must be used on a smartphone or a PC. This interaction exposes the system to a vulnerability. If you use an infected phone to access or set up your funds, there’s a possibility that your device has been compromised as well.
The Model T contains everything you need to manage your digital currency. From a safety standpoint, this simplifies things. With the fully equipped and completely secure Model T, managing your funds becomes a much more simple experience.
Coins Supported
The Trezor Model T offers support for numerous coins and a wider variety of crypto assets, making it a versatile choice. The Trezor One can only store a fraction of the assets that the Trezor Model T can. Most of the most popular assets, such as Bitcoin and Ethereum, are included. XRP, Monero, EOS, Tezos, and Cardano are among the major cryptocurrencies supported by the Trezor Model T that the Trezor One does not cater for.
App Compatibility
Despite the fact that the Trezor One lacks native USB Cable connectivity, both of these devices can be connected to smartphones. The lack of Bluetooth connectivity in both devices means carrying an extra USB cable with you wherever you go so that you can spend cryptocurrencies from your mobile device.
In addition to supporting iOS and Android cryptocurrency wallets, Trezor devices can also be connected to the laptop/home PC running any operating system. Both of these devices are also supported by a large number of third-party crypto wallets.
Security
Since they are a cryptocurrency hardware wallet, Trezor wallet places a strong emphasis on safe storage of supported coins. Trezor Core is a custom-designed operating system (OS) that runs on their devices. The Trezor Trusted Display shows only the complete details of current transactions. You will be able to detect if your PC or phone has been hacked with mismatched information. Hence, you will have plenty of time to cancel any purchase made.
The Trezor T touchscreen display allows it to facilitate on-device seed phrase and PIN generation. This feature improves the security of your Trezor’s connection to the device to which it’s connected. Trezor T is the first hardware wallet in the world that have Shamir Backup (SLIP39). Besides, Trezor One is a widely recognized and the most reliable hardware wallet in the world.
Trezor supports a number of high-level cryptography protocols that help to secure your transactions. Trezor wallet use firmware signature verification to protect against security breaches. Only signed firmware will be allowed to execute, and tampering will result in an error message. Since Trezor bootloaders are write-only, no one can replace them. The bootloader on your Trezor device is a pre-installed application that verifies the legitimacy of the firmware software being installed during the device’s initial setup or during firmware updates.
Opening An Account
- The Trezor wallet must first be plugged into a USB port on your computer. When you’ve done that, the Trezor screen should display an image of a lock as well as a Website to visit.
- Before redirecting you to wallet.TREZOR.io, the webpage will provide more advice on keeping your Trezor wallet safe.
- You will now need to download and install the Trezor Wallet, which will let your hardware wallet interact with the blockchain.
- You will be asked if you wish to update your firmware now. Make sure you select “Yes, Install.”
- You will then be asked to check that the “Fingerprints” on the Trezor hardware screen match those displayed on the computer device screen. If everything appears to be in order, click “Continue.”
- Now you must unplug and re-insert your Trezor wallet into your computer. Return to wallet.TREZOR.io after that.
- You will now be prompted to name your Trezor wallet. This can be anything you want, and you can modify it anytime.
- It’s now time to create your PIN, which is one of the most crucial steps in the setup procedure.
- Your Trezor wallet will now display your 24-word backup seed phrase after you’ve set up your PIN number. It is critical that you write the seed phrase down and keep them safe since you will need them to retrieve your funds if your wallet is ever lost or stolen.
Trezor App
Trezor Suite is a brand-new application. It was created to take advantage of increased computer power in order to allow you to do more with your Trezor hardware wallet, such as enabling advanced privacy features for everyone with the touch of a button.
Despite its new architecture and a slew of new capabilities, Trezor Suite is backward compatible with Trezor Wallet, so you’ll be able to use all of the functionality you’re used to. This covers buying, selling, and exchanging crypto, as well as signing messages, making transactions, and connecting with third-party apps.
The Web software for Trezor Suite is also compatible with Android phone browsers, allowing you to link your Trezor wallet to your phone and manage your assets while on the road. Trezor Suite allows you to use Taproot addresses on your wallet. Taproot is a big Bitcoin improvement that opens up many new possibilities, including lowering transaction fees for transactions with multiple inputs and gradually improving privacy.
Customer Satisfaction
Despite the fact that the Trezor wallet is such a unique and exceptional product, its customer service and support have been slow and generally poor. Technical support is only in English, plus no email contact or chat support, etc. Users’ mixed reviews and complaints regarding Trezor’s customer service can be seen on sites like TrustPilot, Amazon, and the official Trezor Facebook page.
Where can I buy a Trezor wallet in South Africa?
If you’re looking to purchase a Trezor wallet, Trezor Shop is the go-to destination. Additionally, you have the option to order it from the official Trezor Amazon (SA) or from an authorized reseller recommended by Trezor.
Conclusion
If you’ve read through this Trezor wallet review from beginning to end, you should have a good idea of what it is, what it does, and how it differs from software wallets.
You should also be familiar with the security measures that make it far more secure than a desktop or mobile wallet. Even if your Trezor wallet is stolen, you can still get your coins back if you have saved your 24-word recovery password somewhere.
If you want to know more about on Trezor Competitors and other crypto wallets, you can check out our list of the Best Crypto Wallet South Africa. You can also read about our Trust Wallet South Africa as an alternative to Trezor.
FAQ
Most frequent questions and answers
The Trezor Bridge is required for the signing procedure because it allows your hardware device key to communicate securely with Casa and add a signature to your transaction.
In case you lose your device, with the recovery seed, you can restore the contents of your wallet to a new device. A recovery seed is a set of words in a precise order that stores all of the information needed to restore a wallet in cryptocurrency. The recovery seed must be kept private and secure for the user’s crypto funds to be safe in the long run.
One Trezor wallet was compromised in 2017. Due to a firmware flaw, the wallet’s PIN and passcode were compromised.
The safety features of the Trezor Model T are better than those of Coinbase since it’s a cold wallet. In addition, when compared to Coinbase, Trezor T gets a superior Value for Money score. However, Coinbase has more supported coins (cryptocurrencies), whereas Trezor T supports “just” over 1,000 different coins.
Although it’s a close call, Ledger Nano beats Trezor due to its lower pricing, mobile app, iOS compatibility, and Ledger Nano support, a few more popular coins. The Trezor T, on the other hand, is worth the extra money if you want a touchscreen and Shamir Backup.
Trezor guarantees the highest safety for over 1,000 supported coins.
Unfortunately, neither the Trezor T nor the Trezor One can connect to an iPhone. However, you can use an Android OTG cable to connect the Trezor Model T and the Trezor One to an Android phone.
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