Trezor One Review 2024: One of the Best Wallets Around

Beginner Perspective of Trezor One

The Trezor Model One is a great cryptocurrency hardware wallet for beginners. It is easy to set up and use. It allows you to purchase assets and tokens directly through the wallet application.

You can also exchange your crypto assets and tokens within the app as well. Beginners can make their first crypto purchase without having to register with an exchange, something that most other software wallets do not offer. The Ledger hardware wallets, Ledger Nano X and Ledger Nano S, do not offer this either.

Best Features

The best features of this cryptocurrency hardware wallet are that it is extremely secure and provides detailed step-by-step support for setup, purchase, and exchange of assets.

Many Trezor Model One reviews also highlight the affordability of the wallet. At around half the cost of the Ledger Nano X, and even cheaper than the Nano S, the Trezor Model One offers the same level of security. It’s also significantly cheaper than Trezor’s other wallet — the Model T.

The product also allows users to purchase crypto directly through the app using fiat. It’s part of the Trezor suite. These purchased assets can be traded on there too. With this setup, you can safely store your crypto assets right away.

It’s also worth pointing out SatoshiLabs, the inventors of the Trezor wallet, are constantly innovating and developing different cryptocurrency-based projects. Over the years, SatoshiLabs has helped different crypto companies shore up their security, including some open-source projects. They are a huge boon for the crypto industry overall.

Is the Trezor Model One Safe?

Your private keys are stored and isolated inside the device, keeping them offline. A PIN code is required to access the hardware wallet, and all transactions must be confirmed by pressing the physical buttons on the wallet, which are connected to a device via USB cable.

An extra security feature is that you can create a separate account protected by a passphrase. You can store whatever assets you wish here, so if your PIN is compromised, whatever is stored in this separate account cannot be accessed. This makes it harder for your assets to be compromised if lost or stolen.

Finally, the Trezor Model One uses a 24-word recovery seed phrase. There is also the option to use a 12-word recovery phrase.

In addition, Trezor allows compatibility with Universal 2nd Factor (U2F).

Trezor One Fees

You don’t really have to worry about fees with the Trezor. When you’re sending crypto, they’re just going to charge you (pass along) the network fees. Different blockchains charge different amounts for sending and receiving. When you execute the transaction, you’ll be presented with the options (Fast, Medium or Slow) and it will tell you the cost. That’s from the Blockchain itself; it’s not from Trezor. With Trezor, you have to buy it. After that, you’re pretty much fee-free.

Supported Operating Systems

The Trezor Model One hardware wallet is supported on desktop operating systems Windows, macOS, and Linux, while also offering FireFox and Chrome extensions. It also offers mobile support for Android phones; however, there is currently no support for iOS.

Potential Dealbreakers

The Trezor Model One doesn’t have a lot of downsides. One thing that users might miss from higher-end devices like the Trezor Model T is the large touchscreen. Large touchscreens offer an easy way to enter your pin code directly on a device or confirm a Bitcoin address.

The Trezor Model One is one of the more affordable cryptocurrency wallets but if you plan on storing thousands of dollars on cryptocurrency than there’s a good chance you’ll want to just go ahead and spend the extra $100 or so to get the added features of devices like the Trezor Model T or Nano Ledger X. Still, some people prefer the simplicity of the Trezor Model One so don’t discount it entirely even if you have the money to buy a higher-end wallet.

Also, users who want a wallet compatible with iOS will need to explore other options, as Trezor wallets are limited to connecting to devices using a USB cord.