Trezor Model T Review (2024): Supported Coins, Price, and More

If you’re in the crypto market, you already know that having a secure hardware wallet is critical. According to Reuters, over $1.7 billion was lost to crypto hacks in 2023 alone. The Trezor Model T hardware wallet can be your impenetrable fortress to bring you out of the crypto hacks. This Trezor Model T review dives deep into everything you need to know about this hardware wallet, from its robust security, ease of use, features, and how it stacks up against competitors.

Key Takeaways:

• Trezor Model T is a crypto hardware wallet from SatoshiLabs for storing digital assets, launched in 2018, offering enhanced security and features.
• The Model T prioritizes security with features like cold storage, PIN and passphrase protection, hidden wallets, Shamir backup, and rigorously audited firmware, making it highly safe for crypto storage.
• The wallet supports over 9,000 coins and tokens, including many altcoins and new projects explicitly launched on the Ethereum blockchain.

Trezor Model T Review: Overview

What Is Trezor Model T?

Trezor Model T is a secure hardware wallet designed to safeguard and manage cryptocurrencies designed by SatoshiLabs. This hardware wallet can be connected to computers and smartphones via a USB-C cable, featuring a 1.54-inch color LCD touchscreen for transaction confirmations. It is compatible with over 9,000 different cryptocurrencies, including but not limited to Bitcoin, Ethereum, and Litecoin. Beyond cryptocurrencies, it offers secure storage for passwords, tokens, and various keys.

Trezor Model T requires a PIN and passphrase for access, ensuring your private keys remain undisclosed. Additionally, Trezor Model T also provides a robust backup system that is available in the event of loss or damage to the device, such as a standard 12-word recovery seed or opting for the Shamir Backup, which divides the recovery phrase into several parts for enhanced security.

Pros of Trezor Model T

• Features a touchscreen interface for easy management of cryptocurrencies
• Compatible with more than 9,000 cryptocurrencies and tokens
• Provided various options for backup, including Standard Backup, Shamir Backup, and a microSD card slot.
• Offered privacy features like incognito mode and identity protection with Tor to protect privacy.

Cons of Trezor Model T

• No Bluetooth for connectivity 
• Unlike the Trezor Safe 3, the Trezor Model T does not have a dedicated secure element chip.

What’s In The Trezor Model T Box?

Here’s the breakdown of what you’ll find in a Trezor Model T box:

• Trezor Model T device (with holographic seal)
• USB cable (type C)
• Getting started card (package)
• Magnetic dock
• Recovery seed card (12 words) x2
• Sticker x4

How to set up Trezor Model T?

Here’s a comprehensive guide to setting up a Trezor Model T hardware wallet:

What You’ll Need:

• Your Trezor Model T device
• The included USB-C cable
• A computer or smartphone
• A safe place to write and store your recovery seed phrase

Step 1: Connect and Install the Trezor Suite App

Before setting up, it’s essential to verify that the packaging and the holographic seal of your Trezor Model T are intact to ensure it hasn’t been tampered with. Then, connect your Trezor Model T to your computer or smartphone using the included USB-C cable.

After that, install the Trezor Suite app from the official website. Select the version of Trezor Suite that matches your operating system (Windows, macOS, or Linux). Then, simply adhere to the prompts during installation to complete the setup.

Step 2: Set Up and Create a New Wallet

At this step, click the button that says, “Set up my Trezor”. Because your Trezor Model T doesn’t have any software on it yet, so you need to install the latest firmware. Click the button that says “Install firmware” to do this.

If this is your first Trezor wallet, you need to create a new wallet. Click where it says “Create new wallet” (you can also recover your existing wallet by using the Recovery Seed phrase).

After creating your new wallet, write down your wallet backup recovery words. Write them down and carefully secure these words. If you lose your device, this is the only way to get your coins back.

Step 3: Set a PIN

The device will prompt you to activate PIN protection. Confirm by selecting the “Set PIN” option. Input your chosen PIN on the Trezor Model T’s touchscreen and re-enter it for verification.

Upon successful setup, a message indicating that PIN protection is active will appear on the device, and the Trezor Suite will also confirm that the PIN has been established.

Step 4: Activate Coins

You’ll be taken to a screen for activating different cryptocurrencies, allowing you to select which ones you want to display in the Trezor Suite. You can adjust this preference and other settings at any time.

Initially, you’ll need to choose the type of wallet you want to use. You can choose between “Standard Wallet’ and “Hidden Wallet”. You must set up a passphrase if you prefer to use the hidden wallet.

Step 5: Receive and Store Coins 

Now, your wallet is ready to use. You can easily receive coins by clicking on the “Receive” button. You can also enable more coins on the app.

Trezor Model T Review: Key Features

Touch Screen Display

The Trezor Model T features a 1.54-inch color LCD touchscreen, making it easier to handle your crypto transactions directly on the device. You can safely enter your PIN and passphrase right on the screen. Unlike the Trezor Model One, which uses two buttons, the Trezor Model T operates solely through its touchscreen.

The screen offers a smooth, user-friendly experience with a clear and bright display that can minimize the risk of accidentally sending assets to incorrect addresses or approving unintended transactions. The touchscreen also supports more detailed tasks like signing messages, confirming addresses, and inputting recovery seeds.

Easy Backup and Recovery

With the Trezor Model T, backing up and recovering your wallet is straightforward, using a 12-word recovery seed shown on the device’s screen during setup. You should note this seed on paper and keep it somewhere safe.

Suppose your device is ever lost or damaged. This seed allows you to restore your wallet on another Trezor device or compatible device. The Trezor Model T also offers “Shamir Backup,” splitting your seed into several pieces with a certain number needed to recover your wallet. Most hardware wallets don’t offer this feature.

Basically, the Shamir Backup allows you to split your wallet’s backup into several “Recovery Shares” instead of relying on a single recovery seed. This approach enhances protection against theft or loss by allowing you to distribute these shares across various locations or with individuals you trust.

Furthermore, this feature introduces the threshold concept, meaning you can decide the number of shares required to restore access to your wallet. For instance, in a 2-of-3 Shamir Backup setup, any two out of three shares are sufficient to unlock your funds. This ensures that you can still retrieve your wallet using the other shares if a share is misplaced or damaged. You can read more about Shamir backup and its advantages here.

NFT Storage

The Trezor Model T enables you to sign transactions (not store) of your non-fungible token (NFT) trades. There is no native support for NFT storage. You need to connect your Trezor Model T hardware wallet with third-party software wallets like MetaMask to buy and sell your NFTs on marketplaces like OpenSea and Rarible.

The Trezor Model T is compatible with only two standards of Ethereum, ERC-712 and ERC-1559. It also supports well-known NFT networks like Ethereum and Polygon (through MetaMask).

Check out for more details about managing NFTs with Trezor.

Trezor Model T-Supported Coins

The Trezor Model T cryptocurrency hardware wallet delivers comprehensive support for over 9000 digital assets, covering prominent ones such as Bitcoin, Ethereum, Cardano, Litecoin, Polygon (MATIC), Avalanche (AVAX), and Dogecoin, as well as all ERC-20 tokens on the Ethereum blockchain.

While some coins require the participation of third-party wallet interfaces like Electrum or MetaMask, you can rest assured that your Trezor T will still offer many altcoins and new projects. Check out the full list of supported cryptos here.

Trezor Model T Price

The Trezor Model T is available for purchase at $179 on the Trezor official site, positioning it at a higher price point than competitors like the Ledger Nano X, priced at $149, and the Trezor One, available for $59.

Where to buy Trezor Model T?

To buy a Trezor Model T hardware device, the most recommended source is through the Trezor official website, ensuring direct delivery from the manufacturer and secure and prompt shipping. An alternative option is the official Trezor Amazon.com store, which provides the advantage of Amazon’s customer support and “Prime” delivery options.

Trezor Model T Security: Is It Safe?

The Trezor Model T hardware wallet is designed around several core security principles:

• Offline Storage: Your private keys are generated and stored entirely within the Trezor device. They never leave it, protecting them from malware or potential compromise of your computer or online systems.
• Open-Source Code: Trezor Model T and its mobile app, Trezor Suite, use open-source code. This means the codebase is transparent and regularly audited by security experts and the wider community, leading to the identification and patching of potential vulnerabilities.
• Physical Security: Trezor Model T is built to be tamper-resistant. You’ll receive your cold wallet with holographic seals to ensure the integrity of your device before first use.
• Secure Bootloader: The device’s bootloader (the first code that runs when it starts) is designed to verify the authenticity of the firmware before it loads. This protection against the execution of malicious firmware is designed to compromise your device.
• PIN Protection: Your Trezor Model T uses a PIN code as the first step to keep it safe if someone else gets it. You have to type this code on the device’s screen. If someone tries the wrong PIN too many times, this increases wait times before entering the PIN again.
• Passphrase (optional): You can use a passphrase with your PIN for even more safety. This means if someone gets your device and somehow figures out your PIN, they still need the passphrase to withdraw or make transactions.
• Private Transactions: Privacy features on the Model T include options like CoinJoin and Tor to help keep your transactions more private. CoinJoin mixes your transactions with others, making figuring out where they started tougher. Tor keeps your internet IP address secret, adding another layer of privacy.
• Password Manager: Trezor Model T also includes a built-in password manager to store login information securely, reducing reliance on potentially less secure third-party options.
• Hidden Wallets: Hidden wallets on Trezor Model T act as an additional wallet completely separate from your standard wallet. They are created and accessed using a unique passphrase on top of your regular PIN. The purpose of a hidden wallet is to add a layer of protection in case you are forced to give up your Trezor device and PIN. An attacker won’t even be aware of the existence of your hidden wallet unless they also know your specific passphrase.

Trezor Model T’s Alternatives

The best Trezor Model T alternatives are the Ledger Nano X and ELLIPAL Titan 2.0 air-gapped cold wallets. Here’s a brief comparison:

Trezor Model T Review: Conclusion

To sum up the Trezor Model T review, it is one of the best hardware wallets for people who are serious about cryptocurrency security. Its touchscreen, broad coin support, and robust security features make it a smart choice to protect your digital assets.

While it’s a bit pricey, its peace of mind is worth it for many users. If you’re holding a significant amount of cryptocurrency, the Trezor Model T is a wise investment to protect your assets and give you complete control of your digital wealth.

Frequently Asked Questions

How safe is Trezor Model T?

Trezor Model T is entirely safe with various security methods and ease of use in mind. It comes with a touchscreen that lets you safely confirm transactions right on the device and enter your PIN and passphrase. The security is further enhanced by being open-source, which means anyone can check the source code for vulnerabilities.

Trezor Model T also offers features like Shamir backup, hidden wallets, and multi-signature support through 3rd party wallets like Electrum. Every Trezor device also meets the CE and RoHS certifications, ensuring they adhere to the highest quality, reliability, and environmental safety standards. Trezors are also safe from X-rays and are approved for use during air travel. The Trezor devices and their packaging are designed to prevent tampering, with security seals on both the packaging and the device itself.

What is Trezor Suite?

Trezor Suite is a companion app designed to help you manage your cryptocurrencies using your Trezor hardware wallet. It’s available for both desktop and mobile devices (only Android). Once you connect your wallet, you can set up several wallets, send and receive cryptocurrencies, exchange them, and much more. It includes many features for privacy and security, like coin mixing and using the Tor network for added anonymity.

Is Trezor better than Ledger?

Trezor Model T features a touchscreen for easy interaction, supports an extensive array of cryptocurrencies (more than 9,000), and introduces options such as the Shamir Backup for enhanced security. It also focuses on being open-source for full transparency and provides straightforward security measures, including PIN and passphrase protection, alongside extra privacy tools like CoinJoin and the Tor network.

Ledger, in contrast, is better for its stylish design and the use of a proprietary secure element chip (EAL5+ certified) to safeguard keys. It also has a native app (Ledger Live) for both Android and iOS devices. For an unbiased review, check out our full comparison between Trezor and Ledger devices.

Can Trezor wallets be hacked?

While no system can be 100% safe from hacking, Trezor hardware wallets are built to offer strong protection against digital threats. For instance, the Trezor Model T stores important data like private keys offline, which helps shield them from online attacks.

Security measures, including PIN codes, backup seed phrases, passphrase options, and the possibilities for creating multi-signature setups and Shamir backups, significantly increase the wallet’s security. These precautions are designed to severely limit a hacker’s ability to reach your assets unless they have direct access to your device and know your PIN or passphrase.

Additionally, Trezor continuously updates its firmware to fix any identified crypto security gaps, keeping the wallet’s defenses against hacking strong.

How does Trezor Model T differ from Model One?

The Model T stands out with its touchscreen interface. This makes it easier to confirm transactions and manage your device overall. In contrast, the Model One relies on physical buttons for navigation.

Trezor Model T also wins out in cryptocurrency security. It includes stronger security features like Shamir Backup and the ability to use multiple signatures for transactions. Additionally, the Model T crypto wallet also offers a faster processor compared to the Model One [180 MHz embedded ARM processor (Cortex-M4) vs. 120 MHz embedded ARM processor (Cortex M3)].