Having a secure storage facility for any valuable asset is a very key issue for investors in every business sector. With cryptocurrencies, the importance of a completely impregnable storage unit is doubly important due to the high values cryptocurrencies have these days, as well as the ultra-portability and irreversibility of their transactions which makes them prime target for online criminals. One of the best known secure storage facilities for Bitcoin as well as other altcoin is the Trezor Hardware Wallet
(Image Source : https://trezor.io/)
What is Trezor?
Trezor is a dedicated hardware device that is designed specifically to store Bitcoin (in the initial stages) as well as other altcoins like Ethereum, Litecoin, Dash, and Zcash in a highly secure, convenient, and readily accessible manner. Trezor is a product of a Czech startup with the name SatoshiLabs, and is the first cryptocurrency hardware wallet to be ever made. It is specifically designed to be as impregnable as possible, allowing its user to safely send their cryptocurrency even on computers that are not completely trustworthy. Trezor whose name is translated as “Vault” from the Czech language is aptly named as it has so many security layers that just make it impossible for any hacker to compromise it or steal its content.
Design
Trezor is a highly portable device the size of a key and can perfectly fit into your palm. It comes in a tampered rubber casing that has a rugged feel to the fingers designed to endure considerable abuse from everyday use. The device itself measures round 60mm x 30mm x 6mm and weighs approximately 12 grams. It comes with a beautiful OLED screen of 128 x 64 pixel and has a processor at its core which clocks at about 120 MHz. The Trezor wallet’s only contact with the outside world is through the use of a micro-USB port which also serves as its source of power, as it does not come with any in-built battery for security reasons.
Usability
One of the great things about the Trezor Wallet is the perfect synergy it is able to create by offering its user a top notch security facility while ensuring the usability and user experience is not compromised as well. Although most Hardware Wallets that have come after Trezor are built for vault purposes, Trezor goes a step further by also enabling the device to be used as any day-to-day transaction wallet can be. Sending cryptocurrency from your Trezor wallet is not time consuming after the first set-up process as all you need is your PC and the PIN you used in locking your device. The Trezor Wallet also creates back up of your wallet, using a 24 word seed with which you use in recovering your digital assets in case your Trezor gets lost.
Downside
Upon all its features, if there is one downside the Trezor wallet has is the fact that it is not mobile friendly as you need a Laptop or Desktop set up to use it in sending money. The Trezor is ideal for use as a vault where you keep considerable amounts of Bitcoin or other altcoins, but is not the best option if you want a wallet you can use on the go
Conclusion
The Trezor Wallet is the first to pioneer the use of Hardware Wallets in the cryptocurrency industry. It still is one of the most popular due to its seamless combination of usability and high class security. Its price of $99 is also not going to be problem if you want to use it to secure your Bitcoin which as at the time of writing this still sells for about $7,900 per coin.