Trezor Model T Review: Still Worth the Hype in 2024?

History of Trezor

Two programmers, Pavol “Stick” Rusnak and Marek “Slush” Platinus, wanted to find a solution that would allow anyone to store their bitcoins securely and in a trustless way. A small, single-purpose computer that would store private keys in an isolated, protected environment became the goal, and Trezor was born.

Stick and Slush founded SatoshiLabs in 2013 and began crowdfunding, and in 2014 the Trezor One hardware wallet was released to the public. The Trezor Model T hardware wallet is an update to the original Trezor, which was the first hardware wallet to market, and the first product to offer seed recovery and passphrase security.

Trezor has become immensely popular in the crypto community due to its security, and ease of use. Trezor Model T support is also very good with a hands-on staff willing to assist customers. Hundreds of thousands of Trezor hardware wallets have been sold to customers in more than 150 countries worldwide. The ability to purchase crypto with fiat and make exchanges within the Trezor Wallet app further its popularity.

Best Features

The Trezor Model T has a large touchscreen display that is in full color, something that Ledger Nano X does not offer. Many Tezor Model T reviews highlight the touchscreen as the main selling point of the device. The touchscreen makes it much easier to enter pin numbers and review crypto addresses.

While more expensive than Ledger’s flagship Nano X, the Trezor Model T offers about the same level of security, but it gives users much more power. This is because cryptocurrency such as Bitcoin , Ethereum , and Ripple can be purchased directly through the Trezor Wallet app using fiat, and these purchased assets can then also be exchanged within the wallet app.

Detailed instructions available through Trezor’s website (Trezor Support) walk users through all of the purchase and exchange processes.

In addition the Model T can be used for U2F and FIDO2 Authentication methods, more details on this in the security section.

What's in the Trezor Model T Box?

Unboxing the Trezor Model T and you’ll find the usual assortment of wallet accessories like a USB-C cord to charge and connect the device to a computer or phone. Trezor also sells a few accessories separately like different charging/synch cords and lanyards for the device.

Here’s the complete list of everything that comes in the box:

• Trezor Model T
• Model T magnetic dock
• USB-C cable
• 2x Recovery seed card
• Trezor stickers

What Cryptocurrencies Are Supported?

Trezor supports over 1000 crypto coins and tokens including:

• Bitcoin
• Ripple
• Ethereum
• Tether
• Bitcoin Cash
• Litecoin
• EOS
• Stellar
• Cardano
• Monero
• Chainlink
• Dogecoin
• Dash
• Tezos
• Ethereum Classic

Is Trezor Model T Safe?

Your private keys are stored and isolated inside the device, keeping them offline and therefore making it more difficult for them to be compromised. A PIN code is required to access the hardware wallet, and all transactions and changes made to the wallet’s settings must be confirmed by pressing the physical buttons on the wallet.

In addition to the PIN, the Trezor Model T allows for a passphrase to be created. Using this feature creates a separate account on the wallet, where you can store whichever assets you want, meaning even if your PIN is compromised, whatever accounts and assets you have stored with the extra passphrase cannot be accessed.

Finally, the Trezor Model T uses a 24-word recovery phrase, rather than the standard 12-word phrase frequently seen for software wallets, though it does have an option to use only a 12-word recovery phrase. This makes it even harder for your device, and therefore your assets, to be compromised. For more information on added passphrase security with Trezor please visit this page.

Trezor also allows compatibility with Universal 2nd Factor (U2F), which allows you to use your Trezor Model T as a hardware security token for verifying logins on services such as Google and Dropbox. For more information on U2F please check out this link.

In addition, Trezor Model T offers FIDO2 Authentication, which offers similar capabilities to U2F, but essentially allows you to use your Trezor Model T to log into supported sites and services without entering a password, as your Model T acts as the authenticator. For more information on FIDO2 Authentication with your Model T please click here.

Supported Operating Systems

The Trezor Model T hardware cryptocurrency wallet is supported on desktop operating systems Windows, macOS, and Linux, while also offering browser support in FireFox and Chrome.

It also offers mobile support for Android phone (via USB-C), however there is currently no support for iOS.

Potential Dealbreakers

The main downside with using the Trezor Model T cryptocurrency hardware wallet is that it is expensive to purchase. Unlike software wallets, where you only have to pay transaction fees required to trade assets and tokens, the Trezor Model T costs $215 before tax and shipping.

For someone new to cryptocurrency, or simply comfortable with the security of another wallet, they may prefer to spend that money on acquiring extra tokens and assets then simply use a free software wallet.

Apart from the cost, there is little downside to the Trezor Model T, as it is extremely secure, and offers users the ability to purchase and exchange assets within their app. Users who want a wallet compatible with iOS will also need to explore other options.

The only other potential downside being the same as with all software and hardware wallets: losing your recovery phrase with no contingencies results in losing your assets.