Trezor Model One Review: An In-Depth Budget and Security Analysis

Most of its users claim the Trezor Model One hardware wallet is a budget-friendly, secure hardware wallet choice. 

But is that true?

This Trezor Model One review would answer all the questions you have about the device, like:

• Is Trezor Model One outdated?
• What are the cons of trezor?
• Is Trezor still hackable?
• What coins can Trezor Model One hold?

I’ll be exploring the Trezor Model One wallet’s features, pros and cons, security history, and more in this review.

Trezor Model One Price

The Trezor Model One wallet is available for just $69, making it one of the most affordable hardware wallets out there. However, this price could rise to $80 if you’re buying additional accessories like the Trezor One wallet lanyard. 

An added advantage to using a Trezor wallet is that there are no additional fees for using the device. However, you might still be required to pay a transaction fee for crypto and NFT transfers or swaps using blockchain networks.

You can purchase one or find additional price information about the product on their official website. 

Trezor Model One Features

The Trezor Model One wallet boasts several remarkable features that set it apart from its competitors:

1. Affordability without Compromising Security

Trezor’s Model One version offers the same level of security as Ledger’s Nano X and Nano S devices for a lesser price. In addition, it’s a better choice than the Trezor Model T in terms of financial savings while maintaining top-notch security.

2. The Trezor Suite App

With the Trezor Suite App, you can easily buy, trade, and store crypto when connected with your Trezor Model One device. The app also supports fiat currencies, which makes it a comprehensive solution for acquiring and managing your crypto and NFTs. 

3. Sturdy and Secure Design

The Trezor One device comes encased in an impact-resistant ABS plastic with a sleek and minimalistic appearance. This casing can protect the wallet from minor physical damages, guaranteeing the security of your digital assets.

4. Powerful Hardware Components

Inside the Trezor Model One casing is an STM32 F2 microcontroller equipped with an exceptional 120 MHz ARM Cortex-M3 processor. This hardware configuration is usually used by reputable manufacturers due to its reliable and secure access to consumers’ crypto assets.

5. Wired Connection for Optimal Security

Trezor products, including the Model One, rely on a connected USB connection to a PC or Android phone for functioning. This design eliminates the need for batteries and reduces the possibility of wireless communication vulnerabilities, thereby enhancing the overall security of the wallet.

Has Trezor Model One Ever Been Hacked?

Yes, but wait for the full story. 

So, there have been three significant attacks on Trezor devices in the past. All these attacks required direct access to the wallet’s physical hardware, and no successful remote hacking has been recorded. This means that unless someone gets their hands on your Trezor device, your wallet is still as secure as can be. 

Additionally, Trezor’s security team has been swift to address the vulnerabilities as soon as they were discovered. They frequently roll out firmware updates targeted at preventing further exploits of their devices. 

So, ensure to stay up-to-date with the latest firmware upgrades to stay safe.

Is Trezor Model One Safe?

Despite previous exploits discovered, the Trezor Model One wallet remains one of the most secure methods available for storing crypto and NFTs. However, rather than taking my word for it, let’s delve into the reasons behind this strong security stance:

Pros and Cons of Trezor Model One

What’s in the Box

As you eagerly open your Trezor One box for the first time, here are some of the items you should expect to find:

• The Trezor Model One wallet itself
• A USB cable
• 2x Recovery seed card
• Trezor stickers
• Getting started guide

Note: If you notice that the device has been opened before or tempered with, report it to Trezor’s customer service immediately. Avoid using a potentially compromised device; it’s better to be safe than sorry. 

Trezor Model One Setup

After unboxing the device, you’ll need to configure your Trezor Model One hardware wallet before you can use it. Here are the items you’ll need to set up your wallet:

• The Trezor Model One device, along with the Micro USB cord that comes with the package
• Seed recovery card
• Trezor Suite (desktop or online) app

Let’s get started with the setup process:

Step 1: Initial Setup and Connection

• Launch the Trezor Suite app and connect your Trezor Model One device when prompted.
• Next, you’ll be asked to allow or reject the acquisition of anonymous data.
• Ensure that your Trezor Model One is connected properly before proceeding with the security check.

Step 2: Security Verification

Verify that the holographic seal on the device’s packaging is intact and has not been tampered with. If you find any tampering, immediately contact Trezor support for assistance. They’ll do their best to provide you with a new device.

Once the security check is complete and everything is in order, click on “Setup Trezor” to proceed.

Step 3: Firmware Installation

• Now, you need to install the latest firmware by selecting the “Install Firmware” button since Trezor wallets do not come with pre-installed firmware. After successful installation, press “Continue.”

Step 4: Wallet Creation

• If you are setting up your Trezor One hardware wallet for the first time, choose “Create new wallet” next.
• Select the “Standard seed backup” recovery option when prompted to do so.
• Confirm your choice by pressing the Trezor device’s Confirm button.

Step 5: Backup and Recovery Seed

• The next step is to create a backup of your recovery seed phrase. Write down the 24-word seed phrase on the provided recovery seed cards. Click on “Create Backup” to initiate the procedure.
• The Trezor Model One will generate a list of words that you need to write down in the correct order, as shown on the recovery seed card provided.
• Once all the words are recorded correctly, the cryptocurrency wallet backup is complete. The 24 words will be displayed on the Trezor Model One hardware wallet.

Step 6: PIN Setup

• Now, set up a PIN to protect your Trezor Model One from unauthorized physical access. On the ‘Set a PIN’ page, click “Continue to PIN.”
• On your Trezor One device, click the Confirm button after selecting “Set PIN” to begin the process.
• Use the matrix keypad on the right side of the ‘Set New PIN’ panel to select your new PIN digits. Repeat the new PIN to confirm it.
• After you’ve successfully set up your PIN, click “Continue” to access the ‘Activate Coins’ window.

Step 7: Coin Activation and Final Steps

• Select the supported coins you’ll be using from the list provided in the Trezor Suite. Remember that this list may change over time.
• Once you’ve decided on the coins, click “Complete Setup,” and you’re done!
• To access your wallet in the future, simply select the ‘standard wallet’ option after clicking the ‘Access Suite’ and ‘Select Wallet Type’ options.

That’s it! You’ve now successfully set up your Trezor Model One hardware wallet.

How to Use Trezor Model One Wallet

Once you’ve successfully set up the Trezor Model One hardware wallet, the device should be ready for use.

Here’s a video guide on how to use your Trezor Model One hardware wallet.

Trezor Model One Key Specs

Trezor Model One Supported Coins

The Trezor Model One wallet supports over 1,000 different cryptocurrencies, including Bitcoin, Ethereum, Tether, and many others. However, some essential coins are missing from its offering. For example, if you want to store cryptocurrencies like Ripple, Cardano, or Monero, you’ll need to consider investing in another hardware wallet.

Thankfully, Trezor has an improved version, the Model T, which offers more features than the ones supported by its predecessor. Nevertheless, if you’re seeking the widest range of supported cryptocurrencies, the Keystone Pro hardware wallet is your best choice. 

For a complete list of the digital assets supported by Trezor, visit their official website at https://trezor.io/coins/. 

Trezor Model One NFT Support

The Trezor One wallet provides support for NFTs. However, it requires linking to third-party software wallets such as MetaMask to enable users to store and manage NFTs. Currently, the Trezor Suite does not offer native NFT management capabilities.

Also, you should note that Trezor’s NFT functionality is specifically designed for NFTs developed following the Ethereum standard EIP-721. This standard allows seamless receiving, storing, and sending of NFT tokens across the Ethereum network.

Why You Should Get the Trezor Model One

After concluding this Trezor Model One review, my opinion about the device is that it is a cost-effective solution for storing your digital assets. While the Trezor Model One wallet lacks advanced features found in pricier devices, it offers some of the best security in the industry.

Potential Deal Breakers

On the downside, the Trezor Model One wallet doesn’t have a touchscreen like the Model T version. This feature limits navigation to two buttons, which makes the user experience less pleasant, in my opinion.

Also, the number of cryptocurrencies supported is only decent when compared to its other higher-end model. Finally, the lack of iOS compatibility and the use of USB connections can be a major turnoff for some users.

Trezor Model One Promo Code

Trezor Model One Review Final Verdict: Is It Worth It?

Based on what we’ve covered in this Trezor Model One review, buying this device is worth it if you want a budget-friendly option to keep your crypto and NFTs safe. Although it doesn’t come with a touchscreen like the Trezor Model T, you’ll still find its buttons pretty handy and get used to them in no time.