Trezor Model T
Hardware wallets are essential for any serious investor of cryptocurrency. These devices provide better security than software wallets because they are completely offline.
The Trezor Model T is the latest hardware wallet made by Trezor. The Model T includes additional layers of security and functionality, while maintaining the features of Trezor One.
The main difference of the Trezor Model T compared to the Trezor One, is that the device now uses a touchscreen instead of two buttons. The touchscreen improves the security, because now the pin, recovery seed and passphrase are entered exclusively on the device and not on the computer. The touchscreen also makes entering this information as well as approving and verifying transactions easier and more efficient.
Trezor is promoting their device as the next generation hard wallet. To support this title, they included a USB-C connector and an SD card slot. The device also has a new, faster processer and operating system. The USB-C connector is compatible with any computer or mobile device. The SD card slot can be used for data encryption, password management and upcoming offline transaction signing. These new features are included so the device can expand its functionality with future updates.
For security purposes it is recommended to only purchase the device from an authorized seller. When you receive the device, make sure to check that there is a seal tightly over the USB-C port. If this seal has been removed, there will be adhesive residue or marks on the device.
The Model T includes security features such as transaction verification, a pin number, passphrase and recovery seed. Every time you send and receive cryptocurrency, the display on the device will prompt you to confirm the address. This protects you from malware attacks that change the destination address on your computer. The pin number prevents unauthorized use in the event of loss or theft. The pin number is 4-9 digits and every time you enter a digit the keypad changes so that hackers will not be able to know which keys are being pressed. The pin number cannot be cracked by brute force methods because every time an incorrect PIN is entered, the wait time is increased by a power of two. There is an optional and advanced passphrase option that allows you to have multiple hidden wallets. With this enabled, even if a robber were to get hold of your pin, they would only have access to a decoy wallet and not the wallet where your savings are stored.
A recovery seed represents your unique private key that allows you to access your various cryptocurrencies. If you lose the physical device, you can simply enter this seed into another Trezor or BIP32/39/44 compatible wallet and recovery your digital assets. The recovery seeds created by the Model T are 12 words. However, even if your Trezor One or any other previous wallet had an 18 or 24-word seed, you can still easily transfer the funds to the Model T. This is done by importing the 12,18 or 24-word seed from your first wallet. Both of your devices will then have the same wallet with all the same coins, balances, transaction history and addresses.
All the coins currently supported on the Trezor One are supported on the Model T: Bitcoin, Litecoin, Dash, Zcash, Bitcoin Cash, Bitcoin Gold, Ethereum (+ all ERC-20 tokens), Ethereum Classic, Expanse, UBIQ, NEM, Namecoin, Dogecoin and Bitcoin Testnet. However, the device has new software and hardware components that increases Trezor’s ability to add more coins with upcoming projects.
In conclusion, the Trezor Model T is a great hardware wallet that has top security features, a convenient interface and the potential to include more coins overtime.