The Trezor Model T is the new, improved hardware wallet from Trezor, and it represents a key product in the second generation of Bitcoin hardware storage devices. While the Trezor Model T comes in at a higher asking price than the Trezor One, it also comes packed with advanced features that aren’t found in first generation hardware wallets. So, is the Trezor Model T worth the additional costs? Let’s take a closer look.
By: Kyle Torpey | Jun 18, 2020 | Modified Jun 22, 2020
The Trezor One holds a special place in the history of Bitcoin hardware wallets. This is due to the fact that it was the first hardware wallet ever released back in 2014. This device comes with all of the basic features needed to keep your private keys protected from nefarious actors. There are plenty of good reasons people are still buying this device to store their cryptocurrency holdings to this day.
The Trezor Model T uses the best features of the Trezor One as a foundation and builds on top of that early hardware wallet. From a hardware perspective, the most noticeable difference between these two devices is the inclusion of a larger touchscreen. This enables a much better user experience when interacting with the hardware device.
|Information||Trezor One||Trezor Model T|
|Company Headquarters:||Prague, Czech Republic||Prague, Czech Republic|
|Security Features:||Open-source firmware, pass phrase, pin code||Open-source firmware, pass phrase, pin code|
|Available cryptocurrencies:||Bitcoin, Ethereum (1,000+)||Bitcoin, Ethereum (1,000+)|
When it comes to whether a Bitcoin hardware wallet is a friendly option for beginners, the most important thing to consider is how the user will actually be interacting with the device. The Trezor One lacks a touchscreen, whereas the Trezor Model T has one built in. The inclusion of a touchscreen has made it much easier to build a user experience that is easy for anyone to understand.
The Trezor One is for those who prefer fewer options and thus simplicity. This device is perfect for a technical user that knows that prefer a hands on experience. There are only a couple of buttons which can be tricky for some people. The Trezor One is also cheaper than the Model T, which makes it appealing for those who wish to dip their toes into cryptocurrency.
The Model T is a fantastic upgrade to the Trezor One in almost every way. This device is much more user friendly, as it has a touchscreen which unlocks a broader set of functionalities. The added benefit is that everything can be managed directly on the device, there is no need to set up the Trezor with your phone or laptop. For these reasons, the Model T is well suited for the beginner user.
There is a big difference between the two Trezor models in terms of security. When it comes to the security of your cryptocurrency, it matters where your keys are generated, and kept. The Trezor One needs to be interacted with on your phone or desktop. This interaction introduces a vulnerability into the system. If you’re accessing or setting up your funds through an infected phone, then there is a chance that your device may also be compromised.
The Model T has everything you need to manage your cryptocurrency on the device itself. This drastically simplifies things from the security perspective. Managing your funds becomes a much more simple, and enjoyable experience with the fully featured and totally secure Model T.
The addition of a touchscreen is not the only difference to take note of when it comes to the Trezor Model T. This newer device also comes with support for a micro SD slot and includes a faster processor. Additionally, the device can be connected to smartphones and laptops via a USB-C connector.
The reason for the inclusion of a microSD slot is for encryption purposes. Users are able to encrypt files stored on the microSD card with the keys held on the Trezor device. This means no one can access the files held on the microSD card unless they have the hardware wallet and know the associated PIN code.
The set up process for both the Trezor One and the Trezor Model T can both be viewed as user friendly. In reality, it is difficult for the Trezor One to compete with the fact that the Trezor Model T has an included touchscreen. This speeds up the setup process quite tremendously and makes everything much easier for those who are new to the cryptocurrency space.
Both of these devices use the same Trezor wallet software by default, although a variety of other wallets can also be used to securely store cryptocurrency private keys with these devices. The only real difference is going to be that it’s much easier to set everything up when you have a touchscreen to work with rather than a couple of buttons.
While most of the underlying functionality found with these two Trezor devices is quite similar, the Trezor Model T does have support for a larger variety of crypto assets. Some rather popular crypto assets, such as Ripple and Monero, still cannot be stored on a Trezor One. However, the Trezor Model T has added support for these alternative offerings.
The quantity of assets you may store with the Trezor One is less than the Model T. Although it does include the majority of the most popular assets such as bitcoin and ethereum. The Model T includes a host of popular cryptocurrencies that the Trezor One does not, Ripple, Monero, EOS, Tezos, and Cardano.
Although the Trezor One does not include native support for USB-C connections, both of these devices can be connected to smartphones. Having said that, the lack of bluetooth support found in both of these devices means it’s still a somewhat cumbersome activity to carry an extra cord around with you wherever you go just so you can spend some cryptocurrency from your mobile device.
In addition to support for Android and iOS cryptocurrency wallets, these Trezor devices can also be connected to your home computer or laptop running any operating system. There are also a large number of third-party cryptocurrency wallets that support both of these devices.
The Trezor One does not really contain any stand out features, as its a first-generation hardware wallet that was first released all the way back in 2014. However, the touchscreen found on the Trezor Model T is a pretty big deal from a usability and security perspective. Not only does the touchscreen make it easier to use the hardware device as a functional wallet, it also increases the level of security enjoyed by the user due to the fact that there is less reliance on the internet-connected device that the hardware wallet is connected to via USB.
Choosing between the Trezor One and the Trezor Model T is basically going to come down to how much money someone is willing to spend on a hardware-based wallet solution. The Trezor One can definitely get the job done for anyone who wants to store their cryptocurrency holdings in a secure manner; however, there are definitely benefits to be had from deciding to upgrade to the Trezor Model T.
Although the Trezor Model T is almost three times as expensive as the Trezor One, the Model T’s inclusion of a touchscreen display makes it worth the added cost for those who can afford it. The added usability and security benefits of the touchscreen will be of tremendous value to those who can afford the Model T.