LIMASSOL, CYPRUS, November 14, 2023 – The Czech Republic-based company Trezor, known for providing secure hardware wallets for cryptocurrencies, is celebrating its 10th anniversary by releasing three new self-custody products, which include a new Trezor wallet, a solution for securely backing up private keys and a Bitcoin (BTC) only wallet.
On October 12 2023, Trezor, a significant provider of hardware cryptocurrency wallets, officially unveiled the launch of Trezor Safe 3; its brand-new hardware wallet is capable of supporting more than 7,000 different cryptocurrencies and is priced at $79 and is available in four different colours; stellar silver, galactic rose, cosmic black and solar gold.
Overview
Trezor revealed that the new wallet launch marks an important milestone in the firm’s provision of entry-level hardware wallets. The firm emphasised that the release of the Trezor Safe 3 wallet comes nearly five years after the hardware wallet firm introduced the Trezor Model T in February 2018. According to the announcement, the new wallet device maintains Trezor’s commitment to open-source development, which means applying open-source principles of collaboration and transparency.
Trezor has chosen a third-party secure component supplier that allows it to share any potential vulnerabilities it discovers. Apart from the Trezor Safe 3, Trezor has also introduced its own physical private key storage solution called Trezor Keep Metal. Safeguarding the seed phrase or private key is vital because that is more important than the physical wallet device. For instance, if a user loses or damages the hardware wallet, having the seed phrase or private key allows the user to regain access to its funds.
Trezor Keep Metal has much in common with physical backups in the market, allowing users to keep their hardware wallet lost or damaged under any conditions against water, fire, acids and impacts. Trezor Metal is a premium metal backup device made from corrosion-resistant stainless steel that stores the recovery seed of the hardware wallet in a durable and tamper-proof way. Trezor Metal has a laser-engraved QR code that the Trezor app can scan to restore the wallet. Trezor Metal is compatible with Trezor One and Trezor Safe 3 devices.
Trezor CEO Matej Zak regards Trezor Keep Metal as another essential element of Trezor’s commitment to enhancing user-friendliness, aiming to boost global acceptance of cryptocurrency. Zak said, “It is very easy to use in the way that it is because all the other solutions usually have some kind of conversions, so you need some numbering system against the world”. The CEO added, “Whereas here, it’s very intuitive in a way that you just punch in the actual letter from the word onto the steel”.
Trezor Wallet Review
Trezor is one of the largest global providers of hardware wallets founded in 2013, allowing users to store cryptocurrencies. Trezor’s first wallet, the Trezor One, was released in 2024 and is still for sale, offering the basic functionality of storing multiple coins long-term. The new products are available for pre-order on the Trezor online store, and shipment will start in November 2023.
The Trezor Keep Metal is available for $99 and allows users to store 12-word and 24-word standard backups. The Trezor Keep Metal catering for three 20-word Shamir backups is also priced at $249. A 10% discount will be given to customers who pre-order both products. The Trezor wallets, including the Model One and Model T, are known for their robust security features. They use offline storage and encryption to protect users’ private keys, essential for managing and accessing their cryptocurrencies.
Keeping the private keys offline allows Trezor wallets to resist online attacks and hacking attempts. In November 2018, Trezor released a firmware update for their wallets, adding support for several cryptos, including Stellar, Cardano, Ripple (XRP), Lisk and Monero. The update was described as a community-driven effort, which highlighted the collaborative nature of Trezor’s development process. In December 2028, experts at Bitcoin Smarter revealed that Trezor wallets without a passphrase or password were vulnerable to attack. Hackers demonstrated that they could exploit the vulnerability of no passphrase or password to gain unauthorised access to the wallets. This emphasised the importance of using a passphrase or password to enhance the security of Trezor wallets.
In April 2023, Trezor revealed a collaboration with Wasabi to integrate the CoinJoin option into their wallets. CoinJoin is a privacy-enhancing technique that enables users to conceal their transaction history and balances when conducting BTC transactions. This optional feature can be activated by creating a new CoinJoin account in the Trezor menu.
Trezor’s BTC-only hardware wallet was released to mark the firm’s anniversary, featuring a limited-edition run of only 2,013 devices. According to the announcement, in recognition of BTC’s ability to empower individuals in marginalised and underprivileged communities, from each sale, Trezor will donate $21 to support the Trezor Academy, a BTC education initiative.
Media Info:
Name: David
Organization: Bitcoin Smarter
Website: https://www.bitcoinsmarter.com/
Email: [Protected Email]
Address: PLAT4MS LTD Address Omonoias, 81, M & A HOUSE, 3rd floor, Flat/Office 32, LIMASSOL 3048, CYPRUS
