Trezor Launches Two New Devices to Help Onboard Crypto Newbies

Trezor, a prominent player in the hardware crypto wallet industry, has just unveiled its latest creations at the Bitcoin Amsterdam conference, marking a special occasion as the company celebrates its 10th anniversary. These two new products, Trezor Safe 3, a hardware crypto wallet, and Trezor Keep Metal, a backup solution for wallet passwords, have been introduced with a focus on enhancing the user experience in the ever-expanding world of digital assets.

Also Read: 7 Cryptocurrency Wallets to Store Your Crypto Securely

A Decade of Innovation

The crypto world is evolving rapidly, and Trezor is keen to keep pace with its latest offerings. The company’s commitment to safely storing digital assets is reflected in these new products. Trezor’s CEO, Matěj Žák, highlights their core mission: “Maximum safety and ease of use”. These new hardware crypto wallets promise to provide security and simplicity in handling cryptocurrencies, making them suitable for newcomers and seasoned crypto enthusiasts.

The Importance of Hardware Wallets

Hardware wallets have long been recognised as one of the safest ways to store digital assets. By design, these wallets are not connected to the internet, minimising the risk of online attacks. Moreover, they offer complete control over your tokens, a valuable advantage compared to centralised exchanges, where assets can be subject to freezes or restrictions. However, this control comes with significant responsibility because if you forget your wallet’s passcode or seed phrase, you might lose access to your assets forever.

In recent years, crypto wallet providers have recognised the importance of user-friendly interfaces and have been working to create a more accessible onboarding experience for users. Trezor is no exception to this trend. They have invested extensive time and effort in refining the user experience by conducting research and focus groups to ensure their products cater to crypto novices.

Trezor Safe 3: Making Crypto Wallets User-Friendly

Trezor Safe 3, the latest addition to Trezor’s product line, is available for just $79 and comes in four stylish colours: Gold, rose gold, silver, and black. The wallet features a 0.96″ monochromatic OLED screen and a two-button pad for easy navigation. Trezor Safe 3 is compatible with major cryptocurrencies such as Bitcoin, Ethereum, and over 7,000 other tokens.

One of its standout features is its integration with Trezor’s desktop application, simplifying cryptocurrency management on its platform. The hardware component of the wallet is tamper-resistant, ensuring additional protection in real-world scenarios and operating in a wide temperature range from -4°F to 140°F.

Safeguarding Your Recovery Seed Phrase

The importance of securing your recovery seed phrase cannot be overstated. Trezor Safe 3 understands this, and it includes the necessary tools to ensure your recovery seed remains in your control. The compact package includes the wallet itself, a USB-C charging cable, branded stickers, and a pamphlet with setup instructions. Of utmost importance is the inclusion of two paper cards where users can write down their 12-word recovery phrase, also known as a seed phrase. 

“We can’t overemphasise the importance of storing this phrase on paper, not online, as it is the key to your digital assets”.

To mark their 10th anniversary, Trezor also introduced a limited edition Bitcoin-focused hardware wallet that exclusively runs on Bitcoin firmware and is available in a vibrant “Bitcoin orange” colour. With only 2,013 of these devices up for sale, they quickly sold out in a day. The orange-themed packaging even includes a quote from Satoshi Nakamoto, the pseudonymous creator of Bitcoin, reinforcing the brand’s commitment to the crypto community.

Setting Up Your Trezor Safe 3

The setup process for Trezor Safe 3 is straightforward. Users need to download and install Trezor Suite, which provides a more user-friendly interface for managing the device’s contents. Connecting the Trezor Safe 3 with the USB cable, users can create a new wallet or recover one from a backup recovery seed. Trezor offers a standard seed backup or an “Advanced Shamir backup” for enhanced recovery options. The setup takes less than 10 minutes, showcasing Trezor’s commitment to a user-friendly experience.

Also Read: How to Set Up a Crypto Wallet?

Trezor Keep Metal: Protecting Your Seed Phrases

The Trezor Keep Metal is designed to safeguard users’ recovery seed phrases, ensuring their safety even in adverse conditions. It offers two options: $99 for standard 12-word backups and $249 for 20-word Shamir-compatible Trezor Safe 3 backups.

The Shamir product package is substantial, weighing approximately four pounds, while the standard package is about 1.3 pounds. The devices are compact, with the Shamir version measuring 3.9 inches x 1.4 inches and the standard version measuring 4.3 inches x 1.2 inches. Both versions are made from “Aerospace-grade” stainless steel with a black surface treatment to ensure damage resistance.

Enhanced Security for Your Seed Phrases

The Shamir version includes three 20-word backup devices, while the standard version includes one device for securing a 12-word backup phrase. The package includes a pre-marking pen to mark the letters before using the punching tool to engrave the recovery seed phrase onto the product permanently. Additionally, tamper-evident stickers are included to seal the product, along with step-by-step instructions.

The Trezor Keep Metal promises to protect recovery seed papers against fire, acid, chemical corrosion, extreme temperatures, and other heavy impacts. However, it’s important to note that testing these extreme conditions may not be advisable. While the price may seem steep for the average person, it could be a worthwhile investment for those holding substantial digital assets, where protecting their seed phrases is paramount.

Pre-Order and Shipping Details

Trezor Safe 3 and Trezor Keep Metal are available for pre-order. They are expected to be shipped to the public in mid-November, offering users peace of mind and control over their digital assets. In the crypto world, the saying “Not your keys, not your coins” resonates strongly, and hardware crypto wallets like Trezor’s offerings are becoming increasingly essential as the demand for self-custody of crypto assets continues to rise. The memories of high-profile centralised exchange implosions are still fresh, serving as a reminder of the need for secure and user-friendly solutions.

The Growing Demand for Hardware Wallets

The well-known crypto wallet saying, “Not your keys, not your coins”, has also been a prominent theme over the last year after the high-profile implosion of such centralised exchanges as FTX transpired, Žák said.

In early December, Ledger’s chief experience officer, Ian Rogers, said the company had its biggest sales day ever. This ended its biggest sales week ever, in mid-November 2022, after FTX collapsed and signals the demand for hardware crypto wallets is rising.

And as the trial for FTX’s co-founder and former CEO Sam Bankman-Fried continues, more people might be reminded of what happened and consider securing their digital assets — if they haven’t already.

There has been a significant uptick in interest in the self-custody of crypto assets with hardware wallets, Žák added. “The reality is that too few people are using hardware wallets today, so we see huge potential for growth from both existing crypto users and new entrants to crypto”.

Also Read: FTX Sues Sam Bankman-Fried and Associates for $1 Billion

Conclusion

As digital assets become increasingly valuable, these assets’ security and management are paramount. Trezor’s latest offerings, the Trezor Safe 3 and Trezor Keep Metal, are designed to address the growing demand for secure and user-friendly hardware wallets.

With the memories of high-profile centralised exchange implosions still fresh in the minds of crypto enthusiasts, the demand for hardware wallets is on the rise. Trezor’s commitment to enhancing the user experience in the crypto world is evident in its innovative products, and these offerings are set to play a pivotal role in the future of digital asset security. As we progress in the digital age, the need for secure and user-friendly solutions for managing cryptocurrencies has never been greater. 

Frequently Asked Questions

What Crypto Can You Put On Trezor?

Trezor Suite streamlines cryptocurrency management by providing native support for Bitcoin, Ethereum, Cardano, and more. Add, receive, and send these assets directly through the desktop or web application. While Trezor firmware supports coins like Monero and Stellar, they are best managed using third-party wallets listed in the official Trezor coins list. Trezor is committed to native and non-native support to ensure a versatile and secure cryptocurrency experience.

What Are the Key Features of Trezor Safe 3 and Trezor Keep Metal?

Trezor Safe 3 is a hardware crypto wallet designed for maximum safety and ease of use. It supports major cryptocurrencies like Bitcoin, Ethereum, and over 7,000 other tokens. It features a tamper-resistant hardware component and operates in extreme conditions. On the other hand, Trezor Keep Metal offers a secure backup solution for wallet passwords, protecting recovery seed phrases from various threats.

Why Should I Consider Using Trezor’s Hardware Wallets?

Trezor’s hardware wallets offer one of the safest ways to store digital assets, as they are not connected to the internet, minimising the risk of online attacks. Users can use a hardware wallet to control their tokens, avoiding issues like asset freezing on centralised exchanges. The responsibility of safeguarding your seed phrase lies with you, but Trezor’s user-friendly design and extensive research ensure a straightforward and secure experience.