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As many of you know, today's Bitcoin price went to $1000!
If you're a Steem or Bitcoin newbie, you probably don't know much about Bitcoin hardware wallets. Here's the main thing to know: Bitcoin hardware wallets don't store your Bitcoins online in a server. Because they are not online, they are much more secure from hackers. Hacking is still an issue in the digital currency world, so using a hardware wallet is much safer. This article contains some of my personal Trezor tips but is not intended as a full how to use a Trezor guide. I have included a video at the very end of this post that is a complete beginner guide to setting up and using the Trezor. If you need that, just skip to the end.
Here's a great video by Amanda Johnson that explains hardware wallets if you're new to the concept:
Today, I got my Trezor Bitcoin wallet and successfully transferred some Bitcoin to it.
Here's the link you use to buy your Trezor: https://buytrezor.com/ and here's a link that gives you a basic overview of the Trezor Bitcoin hardware wallet: https://doc.satoshilabs.com/trezor-faq/overview.html
If you're a Bitcoin newbie, this guide is to help you feel more confident about getting your first hardware Bitcoin wallet. Although there are other hardware wallets, this review only covers Trezor. There seemed to be a lot of praise for this wallet, so that's why I chose it. I'm new to the concept of hardware wallets, but learning more about security is one of my themes for 2017, so what better way to start the new year than get my very first Bitcoin hardware wallet set up.
SHIPPING
Trezors are shipped from the Czech Republic.
The reason I mention this is because it took ages for my Trezor to arrive after I ordered it and I began to panic after it had not arrived after 2 weeks. I didn't know why it took so long as I didn't know it was being shipped from the Czech Republic. I chose standard shipping (the cheapest option) and if I were to do it again, I think I'd get it shipped using the more expensive and faster option.
I will mention also that you have to use Bitcoin to pay for the Trezor. It costs the equivalent of USD 99. It also important to know that Satoshi Labs creates Trezor. Here's a general FAQ about Trezor from the Satoshi Labs website. I found this initially a bit confusing because I was expecting all the websites to be named TREZOR. So, knowing that Satoshi Labs created the Trezor will help you feel more secure about going their website.
WHEN YOUR TREZOR ARRIVES IN THE MAIL
This is the box that contains the Trezor.
Notice the two silverish pieces of tape at the top and bottom of the box? Make sure those are intact, and not broken open. If the pieces of tape are broken, then the Trezor has been tampered with. Just look at the tape carefully when you open the package to ensure it's not been messed with.
Once you have determined that your Trezor is ok, open the contents of the box. It's a good idea to read the instructions before you begin the process because all your steps are outlined clearly there. I will say that I found the process of setting up my Trezor to be very easy and painless.
WHY IS THE TREZOR MORE SECURE?
The first reason it's more secure is because when you enter your pin number to access your account, the keyboard numbers don't appear on your computer screen. Instead, they appear on your Trezor screen. This prevents hackers from keystroke logging your computer, which basically means, they cannot see the numbers that appear on the Trezor even if they had hacked your computer. You will understand this concept better once you get your Trezor. Honestly, when I learned about this security feature of the Trezor, I was sold on it.
The second thing you'll be doing is writing down a recovery seed list of 24 words. Having a paper copy of your recovery seed enables you to recover your account in the event that you lose it or someone steals your Trezor. So, make sure you keep your recovery seed in a drawer or some other secure place. If you want more education about how the security of Trezor works, go here: https://doc.satoshilabs.com/trezor-faq/software.html
IMPORTANT STEP BEFORE INITIALIZING YOUR TREZOR
Before you start using your Trezor you will need to either download a piece of software called BRIDGE or install a Chrome extension. The information regarding this step is here: https://doc.satoshilabs.com/trezor-user/settingup.html
And one more thing after you start using your Trezor: when you're finished using it, you can just unplug your Trezor from your computer. You don't have to do anything onscreen before unplugging it. I found this a bit odd, so that's why I mention it. I'm accustomed to having to tell my computer I'm removing something before unplugging it. With Trezor, you just unplug it.
FINAL THOUGHTS ON TREZOR
I found the setup process to be pretty easy and straightforward. The real learning curve for me was educating myself about the concept of hardware wallets and the company that produces the Trezor. The most difficult part of this experience was logging into the Trezor website. A user profile is automatically created when you first shop at buytrezor.com. You can not create a profile manually. When logging in, the captcha symbols were terribly difficult to read, and I had to try entering them at least 7 times before I was able to log in. This was a terrible user experience and almost made me give up at one point.
If you need help with the basic Trezor setup and you're ready to get your Trezor, check out this video that will walk you through all the steps: