![]() The TREZOR comes with paper to write down the words:įor the extra paranoid user, you may want to store your seed in a fireproof safe. These 24 words can then recreate your TREZOR wallet in the event your TREZOR is lost, stolen or damaged. ![]() Backup SeedĪs mentioned earlier, you backup your TREZOR by writing down 24 words. ![]() Setup involves setting the PIN code, device name and password. There are two ways to setup your TREZOR: via or via the command line. Trezor is trying to solve this by creating one that is open-source like the rest of the Trezor stack. This means you must trust the hardware manufacturer not to create a back door. One reason Trezor does not use a secure element, like the Ledger Nano X does, is that all secure elements are closed source. This project is called ‘Tropic square’ standing for “TRuly OPen Integrated Circuit”. Trezor has also started an initiative to develop its own open-source secure element chip. The button must be physically pressed in order to confirm each outgoing transaction. TREZOR’s buttons (as shown above) also make sure that a hacker couldn’t automatically send a transaction from your device. TREZOR’s screen allows you to confirm that you’re sending to the intended recipient, but this does not prevent against phishing attacks.Ī full overview of how TREZOR handles security threats can be found on the Satoshi Labs website. Recovery can be done with another TREZOR or with other wallets, like Electrum or Mycelium. You can recover the entire wallet with the 24-word seed and passphrase if used, in the event that your TREZOR is lost or damaged. A passphrase offers more security, but if forgotten the wallet cannot be recovered. You must remember the passphrase because the seed without the passphrase is not enough to recover the wallet. You can add a passphrase to the 24-word seed as an extra security feature, which acts as a 25th word. The seed is generated offline and displayed on the TREZOR’s screen, which ensures that the seed is never on an internet-connected device.Ī PIN code is required on setup, and required for spending.Īfter each incorrect guess the wait between guesses is raised by a power of two. The original 24-word seed is generated using RNG from the device and the computer. TREZOR is an HD wallet where you control the private keys, so an entire wallet can be backed up with the 24 words generated on setup. TREZOR provides top-notch security for bitcoin (BTC), protecting against both physical and virtual theft.
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