The Trezor Model T is a cryptocurrency hardware wallet manufactured by Satoshi Labs. But is it worth the money? Asia Crypto Today has reviewed this brand new release to give you the answer.

In this review, we focus on the following features in detail: SecurityDesign, Cryptocurrency support and Mobility.

We will also be making comparisons of the Trezor Model T with another recently released device, the Ledger Nano X.

You can also check out our full review of the Ledger Nano X here.

The wallet can be used to store Bitcoin (BTC), Ether (ETH), Litecoin (LTC), DASH, among others. To help improve security and management of stored digital wealth, Satoshi Labs employs its in-house Trezor Core firmware on the Trezor Model T.

Among its outstanding features, the hardware wallet has a bright liquid crystal display (LCD), supports USB type C to facilitate connections to the mobile phone or computer, is compatible with external wallets, and has Android support.

Security

When it comes to security, Satoshi Labs offers the best. For example, on Trezor Model T, a user’s digital keys are used to individually lock passwords with the help of its password manager (the Trezor Password Manager). 

Additionally, the hardware wallet uses the on-board LCD display to help the user interact with a transaction before approving it. In case of loss or theft, users can recover their entire wallet through the use of a 12-word recovery phrase. 

However, the phrase needs to be written down and stored separately since losing it would mean that you cannot restore your device and the cryptocurrencies on it. Also, the wallet allows the creation of new wallets. Note that the new wallets can only be accessed through a passphrase coupled with the device’s PIN. Interestingly, the new wallets act as segmentations of the Trezor Model T. Therefore, each segment (new wallet) can be used to store cryptocurrencies independently.

What is the latest Shamir Backup security standard?

Trezor had recently launched the Shamir Backup, their newest security standard for the Trezor Model T. Now, when you create a new wallet the device generates several recovery shares instead of 1 recovery seed. Users then can set the number of recovery shares (maximum 16) required to recover the wallet. For example, you can now set it so that you can enter any 3 recovery shares out of 5, and you will be able to recover your wallet.

This means there is an extra layer of security since you can set it to require several recovery shares to recover your device, instead of the traditional 1 recovery seed. Also it means that not all is lost if you misplace 1 of your recovery shares since you can use the remaining recovery shares to recover your device.

5/5 for Security

Design And Cryptocurrency Support

The hardware wallet features a relatively big LCD display that measures 240 by 240 pixels and weighs 22 grams. Also, the Trezor Model T measures 2.5 inches by 1.5 inches by 0.4 inches. 

Notably, the Trezor Model T doesn’t feature physical buttons. Instead, it features a touch screen enabling for easy navigation and interaction with the device. Unlike the Ledger Nano X, users do not have to painstakingly install apps corresponding to the cryptocurrencies in order to use the device with those coins. This gives it a significant advantage over the Ledger Nano X in terms of convenience of setup.

Being one of the leading hardware wallets, the Trezor Model T supports over 1000 cryptocurrencies. With Satoshi Labs releasing updates, the wallet continues to expand its range of supported coins. However there are a few coins not present in Trezor Model T compared to the Ledger Nano X.

Click here for the updated list of supported cryptocurrencies for the Trezor Model T.

5/5 for Design
4/5 for Cryptocurrency support

Mobility

Unlike the Ledger Nano X, the Trezor Model T does not have Bluetooth. You will need to connect your wallet to your mobile device using a cable so in that sense it is not truly a mobile device.

Also the device is ONLY compatible with Android-powered laptop and mobile devices. Unfortunately, Satoshi Labs is yet to enable support for iOS. To interface with Android devices, the Trezor Manager has to be downloaded from the Google Play Store. The Trezor Manager application helps users to interface with the hardware wallet when viewing account details, generating addresses, and sending virtual currencies.

Luckily, for those using Bitex and Bitstamp crypto exchanges, the new wallet can be used to connect to these exchanges directly.

3/5 for Mobility

Is the Trezor Model T Worth Your Money?

Of course. Compared to other hardware wallets in the market today, the Trezor Model T’s price is relatively low considering the premium features it houses. Although some may find a retail price of approximately US$179 to be high, the wallet’s updated security features, multi-currency support, superior hardware design with a prominent touchscreen LCD display is worth the price.

Final Words on the Trezor Model T

It’s evident that Satoshi Labs is committed to securing your cryptocurrencies. Although the choice for a hardware wallet is a personal preference, the Trezor Model T’s capability to store half of the cryptocurrencies in existence and its integration with major cryptocurrency exchanges makes it a sure winner.

Although the newest security standard goes give the device a huge upgrade, it is still hard to beat the Ledger Nano X in terms of true mobility and superior cryptocurrency support.

WalletLedger Nano X Trezor Model TLedger Nano S
Price (USD)$119 About $170$59
Launch year201920182016
ScreenOLEDColorOLED
Currency support1,100+, up to 100 applicationsOver 1000 supported assets1000+ coins,3-18 applications
ConnectionUSB type CUSB type CUSB type B

Reviewed on 3rd August by Jason Yuan

Final Scores

5/5: for Security
5/5 for Design
4/5 for Cryptocurrency support

3/5 for Mobility

FINAL SCORE: 4.25/5