What is the best bitcoin wallet? / part 4 - Trezor

Presented by SatoshiLabs, a Czech Republic-based company, Trezor is the world’s first Bitcoin hardware wallet.

It is a small device with an OLED screen, which connects via a USB to your personal computer or phone. Its fundamental purpose is to store your private keys offline and sign transactions.

The initial setup is a bit different from the Ledger Nano S.

With Trezor, when you first connect it to your PC, it shows a nine digit pin code on its OLED screen. You need to enter the same pin code by clicking on your corresponding PC screen. This code is generated randomly every time you connect Trezor, and makes sure that even a tampered PC can’t get your pin.

After entering the pin, you will be asked to write your 24-word recovery seed. Again, you need to keep your recovery key safe because this is the only way you will be able to restore your bitcoins.

After that, using it is pretty similar to the Nano S.

Trezor now supports many cryptocurrencies:

BTC – Bitcoin
ETH/ETC – Ethereum/Ethereum Classic
NMC – Namecoin
LTC – Litecoin
DOGE – Dogecoin
ZEC – Zcash
DASH – Dash
Trezor can be used with apps such as TREZOR Wallet, Mycelium, and Multibit HD.

It is available now for Windows (version 7 and higher), OS X (version 10.8 and higher), and Linux. You can also use it with your Android devices.