Trezor One Wallet Review: Age Before Beauty

The Trezor One is a dependable hardware wallet that provides best-in-class security for crypto storage at a fair price. The Trezor One is the oldest hardware wallet around. This wallet remains one of the best hardware wallets, in both reputation and affordability. Read our full Trezor One wallet review to find out if it's right for you.

This wallet is a good fit for: Crypto holders who want a secure, portable, and affordable device to store their crypto.

The Trezor One is a cold storage, non-custodial wallet made for storing cryptocurrency. The Trezor One is the first cryptocurrency hardware wallet, and is still considered to be one of the best wallets around. Since its start in 2014, the Trezor One has seen the addition of an in-wallet exchange service. This makes the Trezor One an even more versatile way to keep your coins safe.

Top perks

Offline storage

With the Trezor One, your coins are kept off the internet so hackers cannot get to them. Cold storage is safer than hot storage, as access to your coins is impossible via the internet. This ensures your crypto is as safe as it can be when entrusted to the care of a Trezor device. With the Trezor One, your coins will be much safer than they would be with your average software wallet.

Trezor One uses limited USB access to ensure safety with other devices. When the Trezor connects to another device, it only gives permission to send and receive cryptocurrency transactions. This means the Trezor One can connect to malware-infected devices without risking your coins. This wallet provides great security for your coins, and ensures that even if the device is lost, your coins won't be.

Recovery seed for lost or destroyed wallets

One of the fail safes Trezor offers when you use its hardware wallets is a method of recovery for lost or destroyed wallets. Trezor provides you with a recovery seed when setting up your device. If you lose your Trezor One, your recovery seed can be used to get your coins back.

Exchange currencies in the wallet

The Trezor One allows users to exchange their coins for others, right within the Trezor app. This wallet does not force users to choose between flexibility and security. Trezor allows users to keep their coins in cold storage, while diversifying their portfolios with Trezor's exchange. This is an excellent feature for beginners. New investors can make trades without having to give their information to an exchange or transfer their funds from wallet to wallet.

What could be improved

Not compatible with iOS

One of the most widely used mobile operating systems, Apple's iOS is not supported by Trezor's devices. A mobile connection to the Trezor One is an impossibility for users who rely on iOS devices. These users can still connect to the device on their desktop devices that run on Windows, Mac OSX, or Linux.

More expensive than a software wallet

The price of a hardware wallet is greater than the free alternative of a software wallet. Yet, hardware devices provide a greater sense of security for their users. Some may opt for a reduction in security to save themselves the cost of a hardware wallet. Users with spare computers can download a software wallet free of charge and use it in the same way as a Trezor device. This might be an option for anyone looking to avoid springing for a dedicated device like the Trezor One.

If you're looking for a cheaper option: A popular alternative to Trezor's wallets are Ledger's Nano wallets. Ledger's equal to the Trezor One would be the Ledger Nano S. This wallet sells for a similar price and supports more currencies than the Trezor One. This wallet is a good alternative for users who prefer a different brand or cannot find the Trezor One at a good price.

If you want a wider variety of cryptocurrencies: For a simpler experience, you might have to sacrifice some of the security the Trezor One offers. Software wallets that use hot storage can provide a cohesive experience for all your crypto needs in a single place. These wallets are always connected to the internet, and are more vulnerable to attack. These wallets also provide a lot of utility. One of the most popular software wallets is Coinbase Wallet. This wallet is backed by a well-known exchange, which gives many options for expanding your crypto horizons.

The Trezor One supports over 1,000 different types of cryptocurrencies, including Bitcoin, Ethereum, Tether, and more. However, the device's offering is missing a few essential coins. If you are looking to store Ripple, Cardano, or Monero, you will need to invest in another hardware wallet. Fortunately, the Model T, Trezor's upgraded device, supports these coins, as well as all the coins supported by the Trezor One. Both devices support a large amount of cryptocurrencies, surpassed only by the offerings of Ledger's Nano series wallets.

The Trezor One has a base price for purchasing the model, costing roughly $50-$60, but charges no fees for use. Transactions on blockchain networks to exchange or transfer cryptocurrencies still incur fees. Networks will still charge you for certain actions, such as purchasing or moving assets, and will vary on the size of the transaction.

As a secure hardware wallet made by a trusted brand, the Trezor One is among the safest ways to store your crypto. The Trezor wallet gives limited access to any device it connects to, making it safe to use in conjunction with devices that have already seen security breaches. With the cold storage that the Trezor One provides, your crypto is safe. Should you lose your device, Trezor even provides a solution for recovering your lost coins. The Trezor One is undoubtedly safe to use.

• You need a secure and portable cold storage device to keep your crypto on.
• You are looking for an affordable and reliable hardware wallet for digital currency.