Trezor Wallet: Adding shield to your crypto trade liberty
What’s the biggest threat you have analyzed while dealing with crypto assets?
One of the red flags of accessing activities or facilities online is storing crucial information online. We all know that crypto wallets and related exchanges that are accessed online are vulnerable to attacks and are prone to data leakage, thus paying extra attention to these activities has become quite important.
The online risk is not limited to these factors only. If you are storing the funds online, in that case, the probability of financial loss is quite high. Thus, cutting down these threats hardware wallets entered the crypto market, and one such hardware wallet that supports accessing the wallet offline is Trezor Wallet.
If you don’t know much about this wallet, then accompany us through the complete read.
Trezor Wallet- A Quick Take
Trezor device has facilitated crypto investors with the freedom to perform trading activities while being offline. The wallet is equipped with the safest and most resilient techniques that give a robust protection shield to Bitcoin and other crypto assets offline.
Further, the wallet provides vigorous security to the funds of the investors and helps the investors in gaining back access to their wallets in case it ever gets lost, or stolen.
Key facts about the wallet
- Was created by SatoshiLabs in the year 2014
- Counted among the first wallet that came up with the idea of recovery passphrase
- A quintessential of security, advanced features, and affordability
Models of the Trezor Wallet
After recording success, a range of these wallets entered the market. Models of this wallet are:
The shining areas of Trezor Wallet
Every software or device does carry several positive and negative aspects as well. This wallet has added much convenience in dealing with online trade activities, but apart from this, it has many other positive sides. Some of the highlighted ones are:
- Execute actions with just a few taps
- Open-source framework
- Protects wallet with Shamir backup recovery
- Supports offline storing of crypto funds
How to get started with the Trezor wallet?
You might find the process of working with the wallet a bit lengthy if you are a first-time user, which might even put you at a sea. Considering this situation, we have decided to break down the complete process into different categories so as to make it easy for you to understand.
Give a quick check at the steps listed underneath:
Phase 1: Setting up the wallet (Takes around 10-15 Minutes)
- Take the USB cable that came with the wallet for connecting the wallet to the computer
- Once connected, you will be asked to move toward trezor.io/start (on the lock screen)
- Reach the instructed page to get an overview of how to construct a wallet PIN and the mechanism of the recovery phrase
Phase 2: Installing the latest wallet Firmware
- Pursue the process by installing the latest firmware from the page you are re-directed to (we are opting for Chrome)
- Click on “Yes, Install” and then review the firmware fingertips
- Tap on “Continue” and then reconnect the wallet
- Give a name to your wallet
Phase 3: Creating a PIN to secure the wallet
- A 3*3 grid will appear on both i.e. your browser (without numbers) and Trezor (With numbers) as well
- Hit on each of the digits in the order you want your PIN to be
- Repeat the process twice to confirm the PIN
- A unique combination of 24 words will then get displayed on Trezor. This is the recovery phrase
- Jot down the recovery phrase somewhere safe
- Lastly, using the crafted PIN, access your wallet
Recovery Phrase: Perform an offline backup of your wallet
If you are engaged in the trading operations of the crypto assets then I am pretty sure that you are holding a software wallet to store and organize your crypto assets effectively. And if you are having a software wallet then you already know what significance a recovery phrase holds.
But for your reference, let me give you quick information about this phrase. The recovery phrase as the name itself indicates is a crucial key in ascertaining the security of the wallet and recovering the wallet in case it ever gets lost, stolen, or damaged. In brief, it is a combination or a chain of around 12-24 words that are unique in themselves.
With this unique phrase, you can regain access to your wallet, passwords, and other crucial information relating to your crypto trade which was associated with the wallet. However, the process of recovering the wallet is straightforward. Investors have to simply provide the accurate recovery phrase on their new Trezor device.
Healthy Practices to secure your wallet
By adopting some of the healthy practices and involving them in your regular trade activities, you can easily safeguard your wallet from becoming the victim. Some of the basic yet most crucial notable points are:
- Keep the recovery phrase safe somewhere offline
- Avoid making a digital copy of your wallet’s recovery phrase
- Never reveal the recovery phrase to anyone
Based on a single chip, Trezor Wallet ensures that the private keys of the investors remain safe from both online and offline threats. Apart from providing unbreakable security to the users, this wallet is pocket friendly as well. Designed with a user-friendly interface, this wallet can be accessed on a wide range of devices such as Windows, Android, iOS, and MacOS.
Get this perfect wallet today and master funds!!