Why I feel you can bank on Trezor wallet to store your cryptocurrency

It not only stores bitcoins, but it can also be used to securely keep your ERC-20 tokens, among other things.

 |  2-minute read |   26-09-2017
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In the era of cryptocurrency, hardware wallets are the new banks. I bought my first bitcoin in August 2016 and one of the first things I did was to transfer them to a hardware wallet for cold storage. A hardware wallet, in terms of cryptocurrency, is an electronic device that stores your coins offline. It is an essential product in the toolkit of every cryptocurrency user, investor or enthusiast.

The Trezor wallet is one of its kind. The company was one of the first to manufacture hardware wallets and the product is iconic to the bitcoin era. A cryptocurrency fanatic could spot it from a mile away.

Design and build

Although very lightweight, the Trezor wallet is a solid device. The build quality is immaculate and the smooth surface does justice to the minimalist design. It doesn't attract too much attention in public places, but it's a great conversation starter. An e-paper small screen sits on the front above two tiny buttons. It has a rather retro look and almost transports me back in time to the days of the Nintendo Game Boy Advance SP.

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Function

Being one of the first in the market, the Trezor, in a sense, defines the functions of a hardware wallet. I can easily access my bitcoins from wallet.trezor.io. The Trezor has a unique password protection system that uses the onboard screen. It displays numbers in a jumbled sequence and requires the user to input the passphrase onto a grid. It's though through well and works even better.

The Trezor not only stores bitcoins, but it can also be used to securely keep your ERC-20 tokens and numerous other cryptocurrencies.

A drawback of the Trezor is that the company claims the device isn't waterproof or fireproof - two features I'd like to have seen. For long term investors, the Trezor is still not an all-in-one solution and I'd recommend keeping it inside a safe or a secure concealment.

Software

Bitcoins stored on the Trezor can be stored on numerous applications. I use Trezor's official one on wallet.trezor.io. The user interface is very minimal and easy to glide through. It was a breeze sending and receiving transactions. The Trezor wallet interface, in my opinion, brings bitcoin one step closer to the mainstream.

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The Trezor is one of those devices that are built to last a lifetime. In a world where products are made to go obsolete in a few years, or sometimes even months, the Trezor makes a lasting impression. I know I'll be using my Trezor for a very long time. And being a cryptocurrency fanatic, I can state with absolute conviction, that I am a Trezor fanatic too.

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Also read: Mahmood Farooqui acquitted in rape case: Has Delhi HC let down the idea of consent?

Writer

Sambhav Ratnakar Sambhav Ratnakar @mrdotboson

Founder at MintFlint.com. Cryptocurrency shiller and value investor. Filmmaker, writer. Not Satoshi Nakamoto.

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