Trezor Model One Review

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Each brand has to have their trademark product. For Trezor, that is the Model One, or the ‘first hardware wallet’, which set the precedent for cryptocurrency storage and privacy all the way back in 2014. Known for their security and attention to detail, the Model One helps bridge the gap between retail investor and expert with:

  • Support for over 1,800 different coins or tokens
  • Simple setup with helpful and straightforward application
  • Unrivaled backup security
    At a price point affordable for all

Cost: $85
Platforms supported: Windows + MacOS (Desktop) Only compatible with Android on mobile.
Cryptocurrencies: 1800+
Wallet type: Hardware Wallet

''Since its founding in 2011, Kraken has managed to remain hack-free, boasting some of the best security in the industry"

Pros

Cons

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CRYPTO GORILLA RECOMMENDS KRAKEN

Trezor Model One History and Background

Having invented the world’s first hardware wallet back in 2011, Trezor has gone on to sell hundreds of thousands of wallets in more than 150 different countries. Founded by SatoshiLabs, they first created the Trezor One, which was recently improved upon with the Model One.

The original Trezor One was touted as the ‘gold standard’ of cryptocurrency safety. To this day, the Model One has remained as one of the leading hardware wallets on the market for a fraction of the price of a new Model One.

What is in the Box?

After purchasing a Trezor Model One, you will receive several items within the box:

  • Trezor Model One (Black or White)
  • USB-C Cable (connects to your computer)
  • 2x Recovery seed cards

Screenshots

Supported Cryptocurrencies

Without sacrificing features, the Trezor Model One also supports over 1,800 different cryptocurrencies to be securely stored, sent or received via the hardware wallet.

Supported Operating Systems

Although the Trezor Model One currently doesn’t support Windows or iOS on mobile phones, there is full compatibility with Windows, MacOS and Linux on desktop and laptop computers. Simply have a compatible browser downloaded, such as Chrome or Firefox to access all Trezor services.

Setting Up the Trezor Model One Wallet

Trezor has produced their own in-depth guide about setting up a brand new Model One here.

Step 1: Firstly, remove the Model One from the packaging and connect, using the supplied USB-C cable, to your desktop. Ensure you have the latest version of your browser installed.

Step 2: After connecting, head over to Trezor and choose Trezor Model One as your connecting wallet. If your Model One is connected, it should automatically recognize your new hardware wallet and begin installing required firmware.

Step 3: Once all required software is installed, your Model One will reboot to begin setting up your first wallet. Click ‘Generate new wallet’ to begin creating a brand new wallet for yourself.

Step 4: Once the wallet is created, you will be able to create your ‘recovery seed’, which will be used in case of emergency to recover your wallet. Once chosen, a 12-word recovery phrase will appear, which you should securely write down on the supplied recovery seed cards.

(Only once you have confirmed your seed-phrase is correct should you close the screen. You will not be able to see your seed-phrase again!)

Before continuing, Trezor will confirm two random words from the 12-word seed phrase, to confirm you noted them correctly.

Step 5: Next up is name and PIN configuration. Choose a name for your Model One and create a memorable PIN (up to 9 digits) to further secure your wallet.

Step 6: After your PIN is confirmed, you now have full access to the hardware wallet and can begin sending or receiving coins!

The steps to open up an account on Trezor Model One:

1.

Connect your Model One to your computer.

2.

Head over to www.trezor.io and choose Trezor Model One as your connecting wallet.

3.

Install required software and reboot. Then click ‘Generate new wallet’ to begin creating a new wallet.

4.

Create your a 12-word recovery phrase.

5.

Choose a name for your Model One and create a PIN.

6.

After your PIN is confirmed, you now have full access to the wallet.

How do I Transfer Bitcoins to My Wallet

Remember: By using the Trezor Suite app, you will never send Bitcoin to a wrong, or invalid, address!

Step 1: Firstly, connect your Trezor Model One to your computer to access the Trezor Suite app.

Step 2: Secondly, head to the Bitcoin ‘receive’ tab, which will show you all previous addresses. Clicking ‘unused address’ will show you your latest unused received address. (Ensuring no one else has seen this address before)

Step 3: Next, copy that address and confirm its correct before sending any Bitcoin. This address should be compatible with any type of Bitcoin address. However, for first time senders, always do a ‘test’ transaction to confirm funds are sent and received properly.

Step 4: Finally, use the confirmed address to transfer the rest of your Bitcoin over to your Trezor Model One.

Congratulations! You now have Bitcoin in cold storage!

How much does the wallet cost

Coming in at a whopping $280, the Model T is one of the most expensive hardware wallets on the market. The high price is justified by top-level security and unique features compared to other wallets.

30-Day Volume Maker Taker
$0 - $50,000
0.16%
0.26%
$50,001 - $100,000
0.14%
0.24%
$100,001 - $250,000
0.12%
0.22%
$250,000 - $500,000
0.10%
0.20%

Deposit Options for Kraken Users from Europe

Availability Deposit method Deposit minimum Fee Processing time
SEPA
SEPA (Fidor)
1 EUR
Free
0-3 business days or instant
SEPA
SEPA (Bank Frick)
1 EUR
Free
0-3 business days
SEPA
SEPA / SEPA Instant (ClearJunction)
1 EUR
Free
0-3 business days or instant
Worldwide
SWIFT (Bank Frick)
4 EUR
3 EUR
1-5 business days
Worldwide
SWIFT (Fidor)
50 EUR
Free
1-5 business days
Worldwide
SWIFT (Etana Custody)
150 EUR
Free
2-5 business days or instant

All Deposit Methods for US Customers

Availability Deposit method Deposit minimum Fee Processing time
USA only
FedWire (MVB Bank)
1 USD
Free
0-1 business days
USA only
FedWire (Signature Bank)
1 USD
Free
0-1 business days
USA only
FedWire (Silvergate)
100 USD
10 USD
0-1 business days
USA only
FedWire (Etana Custody)
150 USD
Free
2-5 business days or instant
USA Only
FedWire (Synapse)
20 USD
5 USD
3-5 business days
Worldwide
SWIFT (Etana Custody)
150 USD
Free
2-5 business days or instant
Worldwide
SWIFT (Signature Bank)
1 USD
Free
0-5 business days
Worldwide
SWIFT (Silvergate Bank)
100 USD
10 USD
0-5 business days
EEA (Individual) EEA & US
SWIFT (Bank Frick)
4 USD
3 USD
1-5 business days
Worldwide (Business Pro)
Signet
No minimum
Free
Near-instant
Worldwide (Business Pro)
Silvergate Exchange Network (SEN)
No minimum
Free
Near-instant

Is The Trezor Model One Wallet Safe?

Often compared to direct competitor Ledger, Trezor’s brand name oozes security with ample external audits and over-the-top security certifications. Similar to its cousin, the Model T, the Model One also offers U2F hardware token support and top class security certifications.

Furthermore, all Trezor hardware wallets have a massive operating temperature between -20C and +60C. (-4F – +140F)

Did You Know?

Kraken has a big bounty of $250,000 for any hackers that can penetrate their system, and then show them how they did it, which truly shows the extent Kraken is going to in order to maintain the highest level of security for your crypto assets.

Customer Support

On-top of market matching security, the Trezor team offers around the clock customer support through their help center. With a rich community advice section and Trezor made Frequently Asked Questions (FAQ), most problems can easily be fixed with a simple search.

Conclusion

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CRYPTO GORILLA’S RATING

4,8
4.8/5
  • Affordable Price

    If you do not wish to spend an extra $200 for their newest hardware wallet then the Trezor Model One is your no-brainer hardware wallet.

  • Securely Store Your Crypto for Long Periods of Time.

    Having been around for 8 years, it encompasses everything a crypto investor wants and needs to securely store their crypto for long periods of time.

Frequently Asked Questions

Yes, the Trezor Model one supports over 1000 different coins and works well with Windows, macOS, Linux, and Android operating systems. The device is portable, and it comes in tamper-resistant packaging, so you can confirm that it has never been used. It is affordable, highly secure, and easy to use.

Yes, you can trust Trezor. Trezor started as the first creator of Bitcoin hardware wallets in 2014. The brand has been in the crypto security industry for a long time, and seeing that they started with the most secure cryptocurrency, Bitcoin, you can be assured that your coins are safe in a Trezor wallet.
Yes, the Trezor model T wallet has a touchscreen and trusted display. The touchscreen provides more security and convenience when sending and receiving crypto, inputting your PIN, or using any other feature of the wallet.
If you lose your Trezor, you don’t have to feel downcast. You can retrieve your coins if you have the recovery seed of the stolen Trezor. When you get a new Trezor, you can input the seed in the device and get access to all the assets in the lost Trezor.
Yes, it is safe to buy Trezor on Amazon if you are buying from the official Trezor Amazon store. If your country is unavailable on Amazon, you can find a verified distributor of Trezor in your country to order from. However, it is not advisable to purchase unauthorized resellers.