Trezor Model T

Basic Information

The Trezor Model T is the second hardware wallet (HW) from the Czech company, SatoshiLabs, which was created in response to the constant development of the crypto world. It's considered one of the best hardware wallets in the world, although as you'll see below, even this one has its flaws.

Functionality

After the initial success of SatoshiLabs, a second model of their cryptocurrency hardware wallet was developed and despite the very good security of the first model, the Trezor Model T aims even higher. But along with that, the price is also higher, almost quadruple that of its predecessor.

For a higher price, you get massive security for your finances. The Trezor Model T is the first hardware wallet to implement Shamir Backup. In addition to standard U2F security, the device offers two-factor authentication using FIDO2. If you follow the manufacturer's instructions and handle your data responsibly, your finances will be safe. Besides security, the company has also worked on extending cryptocurrency support. That's why you can also store other major cryptocurrencies like cardano (ADA), monero (XMR) or ripple (XRP) in your wallet.

The wallet offers not only a way to safely store your investments, but also a way to trade or sell cryptocurrencies using the Trezor app (Trezor Suite).

The wallet itself looks like a small plastic box with a small, color touch screen. Unlike the Trezor Model One, the Trezor Model T uses a USB-C cable. Unfortunately, the device is still not compatible with iOS.

Pros and Cons

Pros

Simple installation and easy to use – setting up the wallet is easy and can be done even by a crypto beginner (the official website of the manufacturer will guide you through the whole process of setting up the wallet)
Large touch screen – the large, clear display makes using Trezor a pleasant experience
Protection in case of loss – the package also includes cards on which you can write down your seed, so you can easily recover it in case of loss
Shamir Backup – the next level of securing your seed, allowing you to further secure your finances by splitting your access details between multiple people and locations

Cons

High purchase price – unlike the old model (or the competition), the wallet does not have many new stunning features that make it significantly different from the competition
Material – with the high price, one would expect a better quality design than plastic
Lack of support for iOS

Supported Chains

This wallet supports 1456 coins and tokens, including ERC-20 tokens. The most well-known supported cryptocurrencies are bitcoin, ethereum, litecoin, USD Tether and others. The wallet also supports monero, ripple or cardano, unlike its predecessor, the Trezor Model One.

A complete list of supported coins and tokens is available at here.

Tips from an Analyst

For complete security, you should follow the manufacturer's instructions, not share your personal information, and only keep your wallet seed stored offline. If you lose it, even the manufacturer of the Trezor wallet won’t be able to help you recover your data. In case of other troubles, you can always contact the official support. The package contains two recovery seed cards, on which you should write your seed, then leave the cards in two different locations. In this way, in the event of a natural disaster such as a fire or flood, your crypto will be safe.

Before buying, we recommend visiting the official website of the manufacturer, where you can easily find all the instructions for using the wallet. I would recommend buying the product directly from the manufacturer to ensure that it has not been manipulated during distribution.

Considering the high purchase price (and taking into account the plastic design), it is worth considering getting a silicone cover for the wallet, which is offered by the manufacturer on its website. In the event of loss or damage, the wallet can be recovered using the seed, but having to buy a new one is still expensive.

Personal Opinion

Both the Trezor Model One and the Trezor Model T are known for their security. However, it is questionable whether it is worth buying a new model, when it doesn’t differ that much from the older, much cheaper model.

The Trezor Model T is a great wallet for those who are looking for a secure, user-friendly wallet and don't mind a higher purchase price. The manufacturer provides all users with good support and instructions on how to use the wallet. This is especially useful to beginners and people who are not quite sure about crypto.

For more experienced users who aren't afraid to learn new things, or who plan to be around the crypto world for a longer period of time, I would recommend considering whether it's worth buying a cheaper wallet from a competitor, then investing the saved money elsewhere.