Trezor Model T Review (2018)

The Trezor Model T (aka Trezor T) was released in May 2018. It’s the successor to the original Trezor (aka Trezor One) and features a full-colour touchscreen, faster processor, and superior cryptocurrency support.

It looks great. But is it worth the cost? Is it the best hardware wallet available?

In this Trezor Model T review, we’ll dive in and find out.

Here’s what we’ll be covering:

Advantages & Disadvantages

Advantages

Disadvantages

  • Expensive (£177).
  • Looks and feels a little cheap.

What is a Trezor?

The Trezor One was originally launched in 2014 by Satoshi Labs. This was the first hardware wallet on the market. Their follow-up to this, the Trezor Model T, was released in May 2018.

Hardware wallets allow you to securely make transactions. They achieve this by holding and signing transactions on this external device. This means that your private keys never need to be transmitted to your computer (which could be infected).

Even if the Trezor was connected to an infected computer, your hard-earned cryptocurrency would still be safe.

Hardware wallets are popular and well-recommended as they’re easy to setup and use (even for non-technical users) and provide peace of mind.

Supported Coins

The Trezor Model T supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and 18 other cryptocurrencies. It also supports all ERC-20 tokens.

To double-check that your cryptocurrency is supported, check out this (searchable) list.

The Trezor Model T doesn’t support any additional cryptocurrencies over the Trezor One. But that could change. Some cryptocurrencies might only be supported on the Trezor Model T.

For example, it looks like Ripple (XRP) and Monero (XMR) will be supported on the Trezor Model T but not the Trezor One.


What’s in the Box?

Here’s what’s included:

  • Trezor Model T (with anti-tamper seal)
  • 45cm (USB to USB C) Cable
  • 2x Recovery Sheets
  • Getting Started Guide
  • 4x Trezor Stickers
  • Magnetic Dock

Trezor advises that you should verify that the anti-tamper seal is intact. I think this anti-tamper seal is almost worthless.

Why? This blog post explains it well:

“If an organisation had enough know-how to intercept your package, replace the firmware of your hardware wallet by some rogue software which would allow them to empty your wallet, don’t you think it would be trivial for them to duplicate and replace a piece of coloured tape, giving you a false impression of security?”

Tip: Once you’ve removed the anti-tamper sticker, just rub away the leftover gunk with your finger.

This magnetic dock is a nice extra, but a strange inclusion.

Why?

If you’re planning to store all your hard-earned bitcoin and cryptocurrency with a Trezor Model T, wouldn’t it be – to put it nicely – a little silly to have it docked somewhere conveniently?

On the other hand, the magnetic dock does allow you to creatively keep it out of sight.

Some ideas:

  • Under your desk (or other furniture).
  • Ceiling of a cupboard/wardrobe.
  • Behind furniture.

Once stuck down, the dock – with the persuasion of a knife – can be removed. It didn’t leave any damage (on a painted door) when I tested it.

Getting Started

It’s quick and easy to setup and start using your Trezor Model T.

The process:

While you should backup and set a PIN code ASAP, you aren’t forced to. You can immediately start sending and receiving cryptocurrency with the Trezor Model T if you want.

Backing up and setting a PIN code takes about 5 minutes.

This recovery seed is really important. In the event your Trezor is lost or stolen, you can use this recovery seed to access all of the cryptocurrency stored on your old device.

As long as your PIN and recovery seed aren’t compromised, the loss of the device itself isn’t a big deal.

Some tips:

  • Record your recovery seed on both recovery sheets (with a Sharpie).
    • Copy words down from the device-to-sheet and not from sheet-to-sheet
  • If you don’t do this, you might transfer an error from the 1st recovery sheet to the 2nd.
  • Store each recovery sheet in separate locations so that you’ll still have a backup if one of the recovery sheets is lost or destroyed.
  • You can create a PIN code which is 9-digits long.
  • Trezor have some additional advice in this post.

Design

Like the Trezor One, I think the Trezor Model T looks and feels a little cheap.

However, the full-colour LCD touchscreen (240 x 240 px) does redeem it. I had no problems using this either – it felt responsive and accurate.

It’s also lightweight (16g) and about the size of my car keys (64mm x 39mm x 10mm). Compact enough to shove in my pockets or lose at the bottom of a bag.

Let’s be honest: it’s not that important what the Trezor looks like – you’re not going to be flashing it around. The core functionality is more important.

Wallet Interface

The wallet interface is clean, intuitive, and easy to use.

The Bitcoin (BTC) wallet is divided into 4 sections:

  • Transactions: shows all your recent transactions.
  • Receive: shows receiving address (and QR code) which you pass along to others.
  • Send: enter address details (or scan QR code) of someone you want to send money to.
  • Sign & Verify: prove and verify ownership of a bitcoin address.

There are some slightly more advanced options hidden in the drop-down box in the ‘Send’ tab:

  • OP_RETURN: allows you to add 40 bytes of data to the blockchain.
  • Locktime: lock up funds until a defined block height.
  • Add Recipient: send to multiple addresses with a single transaction (which saves fees).
  • Import from CSV: allows you to import multiple transactions which need to be sent (which saves fees).

Additional Features

Password Manager

Trezor’s password manager is a nice extra.

It’s intuitive, easy to use, and works smoothly with no issues.

But will you really use this? If the Trezor Model T was your only hardware wallet, wouldn’t you want to keep it tucked away? To make use of this, you’d have to keep it quite accessible.

Check out this post for more details.

Two Factor Authentication

You can also use your Trezor device as a 2nd form of authentication (U2F device) when using some services. Universal 2nd Factor (U2F) authentication is like Google Authenticator (2FA), but more secure.

Some popular services already support U2F:

  • Dropbox
  • Google Drive
  • Gmail
  • Bitfinex
  • Stripe

Browse the full list of services which support U2F here.

For setup details, check out this post.

Exchange Integration

Some exchanges (e.g., Bitstamp) interact directly with the Trezor Model T. This allows you to directly deposit from the Trezor to the exchange without manually entering the transaction in the Trezor Wallet app.

It’s just as secure but saves you a few clicks back and forth.

To see how it works, check out this post.

To find out about other integrations, check out this post.

Change Homescreen

It’s a small touch, but I like that you can customise the device name and picture shown on the homescreen. You can choose from some included defaults or upload your own 144×144 image.

Easy to do:

  1. In the wallet, click on your device.
  2. Select ‘Homescreen’ tab.
  3. Upload or select an image from the gallery.
  4. Select ‘Set as homescreen’.
  5. All done!

Trezor Model T Price

The Trezor Model T costs around £177 (incl. VAT & shipping) from the official Trezor website.

That’s about £64 more than the Trezor One and approximately £93 more than the Ledger Nano S.

WalletPrice (incl. VAT & Shipping)Official Website
Trezor One£113 / €128Official Trezor Shop
Trezor Model T£177 / €200Official Trezor Shop
Ledger Nano S£84 / €95Ledger Wallet
Ledger Blue£254 / €275Ledger Wallet

Where Can I Buy a Trezor Model T?

You can buy the Trezor Model T from:

For those from the UK, you may be charged non-sterling transaction and purchase fees when buying goods online which are priced in euros. For example, NatWest charges 2.75% in fees when purchasing goods/services online with a foreign currency.

Trezor One vs Trezor Model T

Right now, there’s not much difference between the Trezor One and Trezor Model T. The only differences are:

  • Trezor Model T has a full-colour touchscreen.
  • You enter the PIN on passphrase on the Trezor Model T touchscreen.
  • If you need to enter your recovery seed, you’ll do so on the Trezor Model T touchscreen.
  • Trezor Model T has a microSD slot.

The colour touchscreen is a significant upgrade. Unlike with the Trezor One, you can enter your PIN, passphrase, and recovery seed through the touchscreen.

The Trezor Model T also runs on a different firmware, called ‘Trezor Core’. This should make it easier for the Trezor Model T to support more cryptocurrencies (and expand its functionality).

Interested in more details? Check out this post.

Alternatives

The most popular and well-recommended Trezor Model T alternatives are the Trezor One and Ledger Nano S. They’re all great options.

Your other options are:

Summary: Is the Trezor Model T Worth It?

Even though the Trezor Model T is great, is it really worth the extra £64 / €72?

Initially, I didn’t think so. But by the time I’d finished writing this review, I’d changed my mind.

Why? Two reasons:

  • The touchscreen makes it easier and more intuitive to use.
  • The Trezor Model T will begin to support popular cryptocurrencies which the Trezor One doesn’t – like Ripple (XRP) and Monero (XRP).

If you’re buying your first cryptocurrency hardware wallet, it makes sense to future-proof yourself by buying the Trezor Model T. Because it uses a developer-friendly operating system (Trezor Core), it’ll begin to support more cryptocurrencies than the Trezor One.

But if you don’t care about that? Stick with the Trezor One. It’s clunkier and less attractive but keeps your cryptocurrency just as secure.

What Do You Think?

What do you think about the Trezor Model T?

Is it worth the extra dough?

Let us know via social media – Twitter, Facebook or Google+!

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