Why use a hardware wallet?
Cryptocurrency security is fundamentally different from banking: ownership equals control. If someone else holds your private key, they control the coins. A hardware wallet like Trezor stores private keys in a dedicated, tamper-resistant device so they never touch your internet-connected computer or phone. That separation dramatically reduces the risk of theft from malware, phishing, and remote attackers.
Key benefits:
- Private keys stored in an isolated environment — not on your laptop or exchange.
- PIN protection and physical confirmation for transactions.
- Recovery seed (24 words) enables secure backup and recovery.
- Open-source software and transparent hardware design for auditability.
Security model & how Trezor protects your coins
Trezor implements multiple layers of protection. At the core is the private key, generated and stored inside the device. To use funds, you must physically confirm each transaction on the device’s buttons or touchscreen. This prevents attackers from silently draining funds even if your computer is compromised.
Other security elements include:
- PIN code: A PIN thwarts unauthorized physical access; brute force delays increase exponentially.
- Recovery seed: A human-readable series of words (BIP39) used to restore your wallet if the device is lost or damaged. Store it offline in multiple secure locations.
- Passphrase (optional): An additional secret word or phrase that extends the seed and creates a hidden wallet.
- Firmware verification: Cryptographic checks ensure only authentic firmware runs on the device; open-source code offers transparency.
How it works — setup and daily use
Getting started with Trezor is straightforward. Plug it into your computer, open Trezor Suite (the official desktop/web app), and follow the setup wizard. The device walks you through generating a new recovery seed and choosing a PIN. Once set up, you can receive, store, and send Bitcoin and other supported tokens.
Day-to-day actions are designed to be simple and secure: when you create a transaction in the app, a summary is sent to your Trezor device where you verify the recipient address and amount before physically approving. That physical approval is the strongest guard against remote tampering.
For developers and advanced users, Trezor supports standards like BIP32/39/44/49/84 and integrates with popular wallet software that supports hardware devices. You can use Trezor with open-source tools for maximum flexibility.
What cryptocurrencies does Trezor support?
Trezor supports hundreds of coins and tokens with native support for Bitcoin (BTC), Ethereum (ETH) and many ERC-20 tokens, Litecoin, Bitcoin Cash, and numerous altcoins. The Trezor Suite and community plugins expand support continuously. Always check the official compatibility list for the latest additions before sending or receiving new token types.
Tip: When sending tokens, verify the receiving address on the device screen — this prevents man-in-the-middle address substitution attacks.
Best practices for storing and protecting your recovery seed
Your recovery seed is the ultimate backup — treat it like the keys to a safe deposit box. If anyone learns your seed, they can recreate your wallet and take your funds. Follow these practices:
- Write the seed on durable material (metal preferred) — paper decays and can be destroyed.
- Store copies in separate, secure locations (not all in one place).
- Never store the seed digitally or photograph it.
- Consider using a trusted safety deposit box or a secure home safe for long-term storage.
If you use a passphrase, remember it — it is not stored on the device and cannot be recovered for you. Losing the passphrase is equivalent to losing the wallet.