The faster time flies, the more the digital currency develops and strengthens in the world. It is used not only by traders in trade, but investors are buying and selling it in order to increase their capital.
More and more people are beginning to be interested in electronic money and the most important question that a new user should ask is how to safely store the purchased funds.
Since digital money is not regulated by the authorities, if it is lost, almost nothing can be done. But, as usual, other people came up with everything for us.
A device designed for the needs of digital currency holders is called a hardware wallet. The gadget is safe for making payments, storing currency, the crypto exchange works directly with popular models.
Hardware wallets are more secure and have some advantages over other types of electronic storage.
Since the market is inherently huge, there are a large number of different wallet models in the world, replacing each other in popularity over time. But there is a wallet that became the forerunner to cold storage of electronic assets: Trezor Wallet.
What is a Trezor Wallet?
A wallet is a miniature device with a small display and two buttons or a touchscreen device, its appearance depends on the model. To work with their assets, the user connects the wallet to the computer. Manufacturers have created software for Windows, MacOS, Linux. You can manage digital currency on accounts from the Google Chrome browser or through a mobile application (for smartphones based on Android, subject to the availability of API, OTG cable).
Trezor, launched in 2013, was the first hardware wallet in the lifetime of digital assets. But it owes its popularity not only to this, but also to its high multi-level protection. The developers have been actively working on improving the device, they accepted the comments of the users. As a result, they managed to create a comfortable, functional and secure device for storing and working with digital currency.
What digital assets does the device support?
The main struggle in the market for its place and popularity among users, for cold storage wallets, varies from security to the number of digital assets allowed for storage. Trezor Wallet has good reviews on both counts.
At the moment, this wallet can store more than 950 types of electronic assets, from Bitcoin to little-known altcoins. This allows you to keep a high level of popularity among users of digital assets.
In which countries is the wallet available?
During its existence on the market, Trezor Wallet has become available in more than 150 countries, the user can order a wallet anywhere in the world and use it without restrictions.
At the moment, the device supports English, but the system interface is so intuitive that this is not a problem. If there are any problems, then the owner of the wallet can always use an online translator, and later get used to the device system.
The most important thing in the operation of a wallet is the safety of storing the funds of its owner. And Trezor Wallet has multiple levels of security.
The first is to set the SEED phrase the first time you use the wallet. This is a unique, randomly generated phrase containing up to 24 different words. It allows you to restore the owner's wallet if he has lost the device or replaces his computer with another.
The second level of security is a password on the device itself, it contains up to nine characters and has a secure input. When a user wants to use his wallet, he connects the Trezor device to his personal computer, and a password is requested to enter. The security of the input lies in the fact that keys without symbols appear on the monitor screen, and on the device screen, they are displayed in a scattered order. Each time you enter, on the screen of the device, the characters change their position. This is the security of entering a password.
It is also worth noting that all keys are located on the device itself and do not have access to the network. Therefore, they are not available to hackers. Hacking a wallet is possible if the device itself was in the hands of intruders.
Also, the developer company does not advise ordering the device from third-party sites, since there is a possibility of fakes. Therefore, Trezor has made the packaging of the device as safe as possible. At the time of receiving the device, the owner needs to make sure that there are no traces of opening the package and special holographic stickers with the company logo, are not damaged or undergone plywood. The packaging is so tight that it is necessary to tear it open when opening.
If the owner noticed any damage, you need to contact support and refrain from using the device. All this is done to ensure the safety of users' funds.
What features does the wallet have?
The wallet also has a crypto exchange function. And this makes it possible to simplify the work of the device owners as much as possible.
The support service on the official website is available around the clock for users. This is done to quickly fix problems and collect information from users to prevent problems.
How does Trezor wallet work?
The wallet must be connected to a personal computer using a USB cable, then enter the password to enter. After logging in, you can use the wallet and all its functions without restriction: conduct transactions and exchange digital assets.
How do transactions take place?
To transfer electronic assets, you need to go to the transactions tab, select "Send". The user will need to enter the recipient's wallet address, indicate the amount, type of digital currency, and also select the amount of the commission.
The speed of the transfer depends on the size of the commission, if you select the minimum transaction commission, then the coins will reach the recipient longer, and vice versa, if you select the maximum commission, the transaction will go through quickly.
To receive currency on Trezor Wallet, the user must select “Receive”, fill in the required fields, such as: the sender's wallet address and wait for receipt.
How to start using Trezor wallet in the Philippines?
First, you need to order the device on the official website of Trezor wallet in the Philippines , then go through the initial registration. The system will offer to restore the wallet, or create a new one. The user confirms all his actions on the device itself using buttons or a touch screen.
Then the program will generate a special phrase that needs to be written down in a safe place and not lost, it is used to restore the wallet. Developers advise to write down the phrase in a notebook or create a text document on a free USB flash drive.
Then you just have to follow the prompts of the system, come up with and confirm a password to enter. Then the user can start using the wallet.
The interface of the wallet is so clear and harmonious that even a novice user will not be difficult to understand the system.
Recovering your Trezor Wallet account
There are two options when you need to restore your wallet account. And in both cases, you need a SEED phrase.
The first is when the owner's computer fails. The user only needs to connect the device to a new personal computer. And when registering, select: "Recover account".
The second is when the user loses the Trezor device. In this case, you will have to order the wallet again. And again, using a special phrase, restore your account.
Pros and cons of Trezor wallet
- Protection of the wallet at the hardware, user and physical levels.
- Support for a large number of coins and tokens.
- Compatible with a large number of official software wallets (Electrum, MyCrypto, MyEtherWallet, Nano Wallet and others).
- Availability of account recovery function.
- Ability to work with Android devices via an OTG cable.
- The presence of a built-in function for exchanging cryptocurrencies.
There are not many objective disadvantages of the wallet.
- Some users note a rather complicated procedure for the initial installation, but this is more related to the device of the latest model.
- There are no commissions for the wallet - you will have to pay according to the tariffs of the shells, with the help of which the work with assets will be carried out.
Trezor wallet faq
Why should a user use Trezor Wallet?
The Trezor Wallet Review explains how to use Trezor Wallet and makes it clear that it is one of the safest methods for storing digital assets.
Is this wallet free to use?
Using the device itself is absolutely free. The user only needs to pay for the purchase of the wallet and delivery.
Is it safe to use this wallet?
The developers made the use as safe as possible, since the founder of the idea of creating Trezor Wallet, at one time lost a huge amount of Bitcoins.
How secure is the device?
At 100%, there have been no cases of hacking a wallet for a long time.
How can a user protect their digital assets?
The user sets a special phrase to restore the account and comes up with a password to enter the wallet.
What can a user do with this wallet?
He can use it for both hot and long-term storage of his digital assets.
Is there a way to cancel or cancel the transaction if I enter incorrect information?
In addition to the fact that all transaction data can be seen on the user's computer screen, they are also displayed on the device's screen, so the user needs to verify the data before confirming the transaction.