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Trezor review (UK)

Trezor, made by SatoshiLabs in Prague, sold the first consumer Bitcoin hardware wallet in 2014. Its current range is the Safe series. This review covers what it does well, where it falls short and who it suits.

Short verdict

Trezor is a sensible first hardware wallet for people who value open source code and a simple app. The Safe models fixed the biggest weakness of the older devices by adding a secure element chip. The main trade-off is that the standard firmware supports many coins, so it carries more code than a Bitcoin-only device, although a Bitcoin-only firmware option is available.

How it keeps keys safe

Your private keys are created on the device and never leave it. You confirm every payment on the device screen, so malware on your computer cannot quietly change the address. Trezor publishes its firmware as open source, which means outside experts can check the code.

Older models such as the Model One and Model T had no secure element. Researchers showed that someone with physical access and lab equipment could pull secrets from the chip, which is why a strong passphrase was always advised on those devices. The Safe 3 and Safe 5 add a certified secure element that protects the PIN and the secret, which closes most of that physical attack route.

Day to day use

You use Trezor with the Trezor Suite app on a computer or Android phone, or with independent Bitcoin apps such as Sparrow. Setup takes about twenty minutes. Backups use standard recovery words, and newer devices can also use Shamir backup, which splits the backup into several shares so no single piece of paper can restore the wallet.

Good and weak points

Who it suits

Beginners who want open source code, a clear app and a well known maker. If you only hold Bitcoin, install the Bitcoin-only firmware. If you want air-gapped signing with QR codes, look at Blockstream Jade instead.

Trezor does not pay SHATOSHI anything. Official site: trezor.io.

How we review

Every wallet review on SHATOSHI answers the same questions in the same order: who makes it, how it keeps your keys safe, what is open source, how backups work, how easy it is for a beginner and where it falls short. We do not score on price and we do not list prices. Some makers pay us a commission through affiliate links, and some do not. That makes no difference to the review, and the weak points stay in.

Buying one safely in the UK

• Buy direct from the maker or an authorised reseller. Never buy second hand or from a marketplace seller you do not know.
• The device should never arrive with recovery words already written down. If it does, do not use it.
• Set it up yourself, write the words down by hand and keep them offline. Our setup checklist takes ten minutes.

Questions people ask

Is Trezor safe to use in the UK?
Yes, if you buy it new from Trezor or an authorised reseller, set it up yourself and keep your recovery words offline. The Safe models add a secure element that protects against most physical attacks.

Does Trezor work with only Bitcoin?
It supports many coins by default, but you can install a Bitcoin-only firmware that removes the other coins.

Can Trezor be hacked?
Nobody has stolen funds from a properly set up Trezor over the internet. Older models without a secure element can be attacked by someone with physical access and lab tools, so use a strong passphrase on those.

Other reviews in the same format: Ledger review, Blockstream Jade review, BitBox02 review. Or see them all side by side in the best Bitcoin hardware wallet UK guide.

Not financial advice. General education only. Do your own research.