Cryptocurrency has gained a lot of hype recently and with all the popularity, people are investing more and more in digital currency. If you too are into such currencies, there are a few things you should know about keeping your digital assets secure. We highly recommend storing them in hardware wallets made specifically for cryptocurrencies. Managing and accessing your digital assets with a hardware wallet becomes easy and you can make adjustments based on your needs.
Irrespective of the technical knowledge you have or where you live, you will be your bank, with such a wallet. There are two popular wallet options used by people generally in the crypto world. They are Trezor T and Trezor One. Both options are best when it comes to features and benefits. Furthermore, both options offer incredible security depending on personal use and specific needs.
With two options available when it comes to hardware wallet, you may get confused about which among the two to choose, between Trezor Model T vs One and for more detailed differentiation, click here. To help our readers make an informed choice, today we discuss some of the features of both options and will also see which one is more secure.
Overview Of Trezor One and Trezor T
The launch of Trezor one was after four years of the launch of Bitcoin, and is, therefore, the first hardware wallet introduced to store digital assets. As a user of Trezor wallet, you get the option of verifying it’s source code and can also customize the firmware, if required.
As stated, Trezor One is one of the first hardware digital wallets introduced by the team of Satoshi Labs in 2011. The whole idea behind the creation of this wallet is to introduce something with an easy interface and simply a cold wallet for Bitcoin. This wallet is till now famous among investors, used widely, and serves as one of the best starter models when people invest with limited budgets.
The Trezor Model T is the flagship of all the physical devices of Trezor that helps store all digital assets. This is a more advanced option as compared to the Trezor One and is the choice for the next generation. The wallet has a touch screen user base to cater to modern needs and also has powerful hardware.
Security Of Trezor One and Trezor T Hardware Wallets
One of the major reasons why cold wallets are highly recommended to investors is that they help keep the assets protected. We list some of the security features below for you to have an in-depth understanding.
The recovery seed or the recovery phrases for both the wallet types are usually 12, 18, or 24 words long. A user will have to create a recovery seed offline completely so that there are no signs of the seed on the internet. This seed helps secure everything for the user for them to deal better. That said it keeps all addresses, and keys private.
When you are looking to restore the Trezor T wallet, all you need to do is to use the touchscreen feature and restore. On the contrary, when using a Trezor One you will need an external keyboard to carry out the restoration procedure. While doing so, with the help of a keylogger, an attack can take place. This scenario may seem implausible but is possible.
Both the Trezor crypto wallet options are running as a storage wallet on the internet. The private keys are offline every time and it doesn’t matter even if your device stays connected to a wallet with an active internet connection. Usually, the private key for every wallet is usually stored in the microprocessor.
When receiving or sending the crypto assets from the hardware wallet, the user is required to confirm the address on the screen. The Trezor T has a high-end colored touchscreen UI which is why reading the address on it is more convenient as compared to the Trezor One wallet. For advanced users or for the ones who are doing much more transactions using the wallet, model T is a much better option.
Pin Code of the digital wallet is an additional protection layer added to the digital hardware wallet so that it stays protected if someone gets access physically to the wallet. Even after gaining access to their wallet, they will not be able to operate, instead will have to enter the PIN. The PIN required is usually 4-9 digits long. After several failed attempts by the user by entering the wrong pin the device usually gets reset.
If the owner doesn’t remember the PIN code, the device can be rebooted at once and recover your stored assets using the recovery seed.
U2F and Password Manager
The Trezor T hardware wallet is an advanced option and therefore offers some devices with two-factor authentication and also password managers. On the contrary, U2F helps generate the password once and helps secure all web applications that are your favorite.
Model T has a password manager that remembers the password info and the login URL as well. This helps the user use Trezor to get the password entered when required. The password manager and U2F help make secured login to several platforms as well that include Github, Twitter, Google, and several other similar services.
Staying Safe With Hardware Wallet
Advancements in technology have increased the rate of fraud as well, hence we recommend the users to use strong PIN codes and also recovery seeds so that it becomes difficult for people to crack. You should keep the recovery seed safe and ultimately your assets will be safe too.
Recovery seed is the last hope, and if it gets lost you will not be able to recover your assets. Hence, it is critical to either remember it by heart or keep it noted at a safe place.
Since Trezor T is more advanced and a convenient option, it is much more safe and reliable for the investors. However, the final choice depends majorly on the preferences and needs. Both the options have high security standards that provide excellent protection. The wallets will help your assets keep safe from all remote hacking methods.