In 2017, digital currencies have gained unprecedented popularity. Many people bought themselves bitcoin and other coins, made money buying and selling, or decided to keep the coins until they made a fortune.
However, many users around the world have lost their investment. And it's not about the fall in the rate at the end of 2017, because the price of most coins has already begun to recover. The point is theft, burglary, fraud and other ways of stealing electronic funds.
In order to understand how to store your digital assets securely, you need to consider all possible storage methods, compare them and choose the best one.
It is considered the safest way to store digital currency offline. The safest wallets for long-term storage are called hardware wallets.
In the case of storing electronic money in a cold wallet, all accesses to the system are offline and cannot be stolen. When connected to a computer, all operations take place within the wallet architecture, all user data does not go beyond the wallet, and all transactions are protected by modern encryption. All popular wallets are protected by a pin code, and in case of loss, breakdown or theft, you can always restore your funds using private keys.
What is Trezor Wallet?
It is a Czech hardware wallet that is considered the pioneer of cold storage and is recognized as the safest wallet in the blockchain industry.
A hardware wallet from SatoshiLabs was released in 2014. Although many modern alternatives came to the market after Trezor, it is still popular due to its versatility, security and affordable price. In addition to the wallet itself, the device comes with an entrance and special software - Trezor Wallet.
The first prototype of a digital money wallet was introduced back in 2012, but the first Trezor model was not released until 2014. In 2013, the company SatoshiLab was registered, which was engaged in the production of devices. In 2021, there was an update and release of a new generation wallets called Trezor 2.0. The changes affected the software, new functions were added.
What platforms does the wallet interact with?
The manufacturer took care that the device could work, when connected to the user's computer, with any software. It would be disappointing for the user if, after the purchase, he could not connect a new wallet and use it in work. Also, owners of smartphones based on Android are also lucky, as they can connect a wallet device to their phone and, so to speak, can "carry a wallet in their pocket."
What kind of electronic money does the wallet support?
TREZOR is not only a cold bitcoin wallet, it is a multi-currency digital currency wallet. It is worth noting that it supports all ERC20 tokens, of which the majority are now on the market. And also the list of available currencies is constantly updated and is constantly growing.
Also in the Trezor wallet review, on the company's official website, you can see all types of assets that will soon become available in the wallet.
In which countries is this type of wallet available?
Now any user, almost at any end of the world, can order a wallet, because the number of countries where the device can be delivered has exceeded more than 150 points. This makes it possible to spread a secure storage method everywhere, because many investors, especially newcomers, do not understand that their funds can be stolen from storage sources that are constantly online.
The wallet supports English, and the program interface is so harmonious that it is not difficult to understand the system, but if the user has questions, he can always use a translator, or pay attention to the instructions on the official website.
To ensure the security of the client's funds, the developers have made several levels of security for the device:
- The user should buy the device only on the official website, since there is an opportunity to order a fake. A wallet can be hacked only if you have access to the device itself.
- Upon receipt of the device, it is necessary to check its packaging for any signs of opening.
- The owner himself installs the firmware of the device, so this gives guarantees that no one has used the wallet before, as well as to use all the features of Trezor.
- Generating a seed phrase by the device, at the first setup, allows you to be able to restore the wallet in case of any problems.
- Set up a complex PIN-code, which is hard to find. The maximum password length is up to 9 characters. On the newer Trezor, the password is set using the touchscreen. If the code is complex, then it is better to write it down, since after 16 unsuccessful input attempts, the hardware device is cleared and access to the coins can be restored only with the help of a seed phrase. Also, if you enter an incorrect PIN code, the time interval between the next attempts is doubled.
- Each transaction undergoes mandatory confirmation on the device itself. If viruses on the computer were able to change the address and amount, then the user will be able to see this on the wallet screen and cancel the transfer of electronic assets.
Trezor has several features for which it is preferred by so many users:
- Provides reliable protection for electronic assets.
- It is a multi-currency wallet. The device supports the following coins: BTC, LTC, NMC, DOGE, DASH, BCH, ZEC, ETH, ETC, ERC20.
- Compatible with other digital money wallets: Mycelium, Electrum, EtherWall, Sentinel, Copay.
- If the user has lost Trezor, then access to his funds can be obtained through Electrum, Mycelium, Copay, ArcBit.
- Has a fairly simple and intuitive interface.
All these features keep Trezor in the top 10 among the best wallets for storing electronic assets.
The user can contact customer support at any time, any day. In addition, the support service of the device collects data on all operating problems and tries to prevent them from reoccurring.
How does this wallet work?
Trezor developers used a multi-layered security system in which no data leaves the device. This prevents them from being intercepted. There has not been a single case of theft of funds from a wallet since its inception on the market.
To start working with the device, you need to connect it to your computer using a USB cable and install the program using the official website. Then go through the initial registration, set a password, and then start working with the wallet.
Functions of this wallet
In order to replenish the wallet with coins, the user needs to find in the "Transactions" menu, and go to the "Receive" tab. Then you need to select the type of digital currency, specify the sender's wallet address and enter the amount.
When it is necessary to export assets from the wallet, the user selects the desired digital asset, clicks on the "Send" tab, then specifies the amount and address of the recipient's wallet.
Also, the owner of the wallet can choose the size of the commission when sending currency, the speed of transfer to the recipient depends on its size. The lower the commission, the slower the transaction will go, and according to the same system, on the contrary, by choosing a large commission, the operation will proceed quickly.
In addition to the export and import of electronic money, using the device, you can both purchase assets and exchange them one for another. We can say that Trezor has a crypto exchange function.
All these functions are given to simplify the user's work, as well as increase its speed. The developers are trying not only to give wallet owners a secure method of storing their funds, but also trying to make it as functional as possible.
How to start using Trezor wallet in Hong Kong?
To find out how to use Trezor wallet in Hong Kong, you must first go to the device's official website and purchase it.
First of all, the user selects one and two device models, they do not differ much from each other. The first, despite the fact that it has been on the market since 2014, is still very popular among hardware wallet users, has a small screen and two buttons. The second, more modern model, has a color touchscreen display and is slightly larger than the first model. The second model also has a slightly larger list of available digital currencies for use.
Then the user needs to decide on the number of ordered devices. And make the payment. You can pay for the device not only in euros, but also with ten types of electronic money. Before buying, you can familiarize yourself with the commissions for each digital asset from the list of possible ones.
Recovering a wallet account
This process is carried out using a special phrase that the user recorded during the initial installation, without it, recovery is impossible.
If you need to restore your account due to a change of computer, then when you connect the device to new equipment, you must select the "restore account" function.
If the owner has lost the device itself, then he has no choice but to purchase a new one on the official website of the manufacturer and go through, instead of registering, restore the account.
Trezor wallet faq:
Why does the user need this type of wallet?
It is considered the best of the best among hardware wallets in providing secure storage of digital currency.
Can I use the wallet for free?
Payment is made only once, at the time of purchase of the device on the official website of the manufacturer, more payment is not charged from the user.
How can a user ensure the safety of their digital assets in the wallet?
For this, a password and SEDD phrase are set.