Updated: Apr 10, 2020
Trezor Model T is the second generation hardware wallet manufactured by SatoshiLabs. The Model T footprint is similar to T-One, which debuted in 2014. The biggest differentiators in both models are the color touchscreen and the removal of physical buttons. The device also offers features to serve as a means of U2F authentication and GPG encryption.
What Coins Are Supported by Trezor T Wallet?
Model T supports Bitcoin, Monero, Bcash, Bitcoin Gold, Dash, Litecoin, Zcash, NEM, Ethereum, and Ethereum Classic. There are over 1,000 crypto assets supported by Model-T. In fact, unlike Trezor One you don’t have to work with an external wallet, like Mycelium to store Monero and Cardano.
Step-by-step Guide for Setting up Trezor T Wallet
Getting your Trezor Model T set up is easy and won’t take more than 10 minutes if you do it right. You need to make sure that all seals are intact before you open the box. There have been numerous scams wherein people have sold pre-authenticated Model-T devices on eBay and Craigslist.
You need to connect your device via USB and follow all the prompts displayed on the screen. You would need to open trezor.io/start in your web browser. Make sure you use updated versions of Mozilla Firefox and Chrome. Choose Model-T as your device.
Download and install the Trezor Bridge and then refresh the page. Once the wallet recognizes the device, you will be asked to install the firmware automatically. Wait until the installation completes. The device will reboot. Don’t interfere.
Select “Create a new wallet” on the device screen and confirm the action. A message saying “Your Trezor is not backed up” will appear. Click on “create a backup in 3 minutes”. You will be shown a recovery seed. Copy all 12 words in the exact same order as shown in the device screen.
Confirm the words in the Trezor quiz and hit enter on the touchscreen. A warning message will appear saying “Pin Not Set!” You would need to go back to the interface and click Continue. Choose a name for the device and confirm.
You will need to create a PIN now. This needs to be 4 – 9 digits long. Click finish and you are done initializing your Model-T. You are now ready to start adding currency to your wallet.
How do I make payments?
Once you are set up, it is fairly easy to add funds and coins to your wallet. However, you will need a little help when it comes to making payments. Follow the steps to make payment with your device.
Connect your Model T to your computer and enter your PIN.
Open the Trezor wallet
Select the cryptocurrency you want to send from the menu on the left of the screen.
Click “Send” link and enter the details of your transaction, including the amount you are sending and receiving wallet address.
Review the full details of the transaction and confirm it on your Model-T.
Why Choose Trezor Model T?
Trezor T is a second-generation wallet and a definite upgrade over Trezor One. You would find the touchscreen is responsive and makes the process of using the wallet extremely easy. However, the device is small and the screen smaller. You may find yourself struggling with selecting some options.
Trezor T is better in terms of security as well. You can directly enter your security details using the touchscreen. In Trezor One you need to rely on your mobile or computer to input the information. These devices may have malware compromising your account security.
There is no data storage in Trezor One, but The Model-T has MicroSD storage capacity with Trezor data and file encryption coming soon. In short, Trezor T is a great way to store your crypto. However, it is a bit pricey and recommended for only enthusiasts.
You may do better with Trezor One if you deal only in limited crypto and do not really require the added features.
Trezor wallets have long been in use and very popular among crypto holders. SatoshiLabs has made a name for them in the industry. This wallet could be a low-risk way for you to store your crypto.