Security is important, in any context, be it physical or digital. When it comes to bitcoin, security is of the utmost importance yet proper security of bitcoin remains a mystery to the average newcomer in the space. We hope that by now, bitcoiners in this space have offline security measures. For those that do or do not, Trezor is a simple, practical way to store your bitcoins.
Trezor is developed by czech company – SatoshiLabs. The device runs for $119 and is as big as your thumb.
See the video for unboxing and review of the service. For those too impatient to watch a video, read on for a brief summary.
The device is plastic. The reasoning behind this is an extra layer of security as users will be able to notice tampering with the simple plastic device as opposed to a metal device.
The device weighs 12g and is as big as your thumb.
The device has a black and white screen and two buttons.
The device comes with a miniUSB cord to connect to an external power source (most likely your computer) – that’s right, no batteries required.
When you plug your device to your computer you will be prompted to go to MyTrezor web portal. This is where all the action happens.
From there set up is simple. Trezor has made this process intuitive and as simple as possible.
Once the plugin is activated, myTREZOR will prompt you to enter a PIN.
This is where the keylogger protection kicks in. You don’t actually type the PIN, you have to click on an obscured numerical pad displayed in the browser.
The position of each number changes randomly, so every time you enter the PIN you will have to check your Trezor device for the layout.
An attacker using a simple keylogger, or even an attacker with complete remote access to the desktop, would not be able to determine the numbers, as they are displayed only on the Trezor device.
write down a randomly generated 24-word seed. This seed will allow you to reconstruct your Trezor wallet in case you lose the device.
This is the only backup that can be used to recover your wallet in case of loss or theft. Trezor uses BIP39 and BIP44 standards for creating new wallets, so the generated seed can be recovered and used by other compatible wallets.
Use your Trezor device.
Personally disappointed with how flimsy the device is…it seems like a toy and that it could be destroyed or crushed with ease while traveling or by sitting on it when its in your pocket, however I do understand the extra layer of security added by having the device be plastic.
Overall very good device, a great add-on for any Bitcoiner that is tired of the tedious process of printing paper wallet. The Trezor is a welcome supplement in this space.
SatoshiLabs confirmed that users can use Mycelium 2.0, Wallet32 or Multibit HD to load Trezor’s recovery seed to their computer.
Trezor device can only work with desktop operating systems such as Windows, OS X and Linux.
Disclaimer:Always conduct thorough, independent research before buying anything.
Marco covers topics aimed directly at spreading knowledge of and supporting the growth of Bitcoin, cryptocurrencies, health and tech. Marco is also a Lifeboat Foundation New Monetary Systems Advisory Board Member. Follow him on twitter: @marcoapineda13
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