Trezor Model T Setup Guide and Review (Updated 2019)
The Trezor Model T is a state of the art hardware cryptocurrency wallet that comes with exceptional coin security. Released in March 2018 with the latest firmware update in March 2019, the wallet features a new operating system tagged Trezor Core. This enables faster development of features and smooth coin support.
Moreover, the Trezor Model T offers a convenient interface and intuitiveness which combined translate to safe storage and trading of cryptocurrencies.
This Trezor Model T guide will showcase:
- Use of the device; and
- Comparison with other hardware wallets such as Ledger Nano S and KeepKey.
Trezor Model T Packaging
This premium model costs 149 Euros (US$173). The Trezor Model T comes as a special kit, it contains the Trezor Model T device, magnetic dock, USB type C cable, stickers, user guide and recovery seed.
Trezor Model T Installation
Installation is smooth with the aid of the user guide. Notably, you have to be careful in the entire process to avoid leaking your private keys and recovery phrase. Leaking your private keys or recovery phrase opens you to serious risk by hackers to steal your coins.
For complete security, ensure the area where you are setting up your Trezor Model T is completely camera free including sealing your computer’s webcam.
The Model T device comes with a hologram seal that you have to peel off to plug in to your PC. If you don’t see this seal or it looks different to the one pictured, do NOT proceed with the set up and contact Trezor support immediately.
Connect the Trezor Model T and your computer using the USB type C cable provided.
Download and install the latest firmware
The next step is to download and install the latest firmware.
Afterwards select the option “Create a new wallet”. This will be proof that the wallet is unused.
Create a backup of your Trezor Model T
The penultimate step is to create a back up. The wallet generates recovery words which are in a specific order. Write down those words in the same order on the piece of paper provided with your Trezor Model T.
This is known as your recovery seed.
IMPORTANT: do not take a photo of your recovery seed, or upload it onto your computer or online.
This is because you use your recovery seed to restore your funds on another Trezor if you lose your phyiscal device. Conversely, this means that any thief can do the same if they obtain your recovery seed.
Create a new PIN code
Lastly, set a PIN code which you will use to unlock your Trezor every time before using it.
This concludes the set-up process meaning you’re good to go. It goes without saying that at all times, be extra vigilant to ensure you don’t expose your keys or recovery seed. This is to ensure your wallet is secure.
Using the Trezor Model T
The wallet offers a range of coin options for trading. They include; dash, Bitcoin, Bitcoin cash, Bitcoin gold, etc.
In general, transacting using the Trezor Model T is smooth and really secure.
Comparison with the Ledger Nano S and KeepKey hardware wallets
Trezor model T is quite expensive compared to other wallets such as Ledger and KeepKey.
Trezor Model T: EUR 149 (US173). Buy it here
Ledger Nano S: US$59.00. Buy it here
KeepKey: US$79.00. Buy it here
Trezor model T: comes with a touch screen and smooth interface. The screen however is still quite small and I need to use my pinky finger to use the touch screen.
Ledger Nano S: No touchscreen. It has the smallest screen compared to the KeepKey and Trezor Model T. A significant drawback is that cryptocurrency addresses do not fit entirely on the screen. Instead the address scrolls back and forth across the Ledger’s screen which makes it hard to read.
KeepKey: screen is not as large and sophisticated as the Trezor Model T’s. The KeepKey’s screen is not touch sensitive.
Trezor Model T: uses USB type C cable connection which increases durability as it reduces wear and tear on the hardware device itself. I also personally prefer using USB type C as I use a MacBook laptop.
Ledger Nano S: uses USB type A connection. In my experience it does easily wear and I have difficulties connecting it to my computer after around 2 years of heavy use.
KeepKey: also uses USB type A.
Ledger: supports both IDEX and Switcheo exchanges.
KeepKey: Since my video in August 2018 the KeepKey now supports ERC-20 tokens. Here is a list of the supported tokens.
For those who are new to cryptocurrency, they may find Ledger a better choice as the device is smaller and cheaper. Conversely, the Trezor Model T would be a good choice if you are interested in high-level smooth performance.
One major drawback to note is that Trezor hardware wallets are incompatible with IDEX and Switcheo. So inevitably you may end up having to bring multiple devices around with you.
In conclusion, the Trezor Model T is an excellent, smooth and secure hardware wallet.
The Ledger Nano S may have certain advantages but the Trezor Model T is premium quality and has seamless navigation.
If you fancy these features, then Trezor Model T is definitely the best option for you.