Hi everyone, we are back with yet another review of one of the trending hardware wallets in the market, the Trezor wallet review Australia.
Have you finally decided to switch to a completely cold storage device for your digital assets and cryptocurrencies?
Do you want to upgrade your crypto assets security with the help of a hardware wallet and your search for the perfect hardware wallet has just begun?
Trezor Wallet Review Australia – Is It Really A Safe Choice In 2022
Either way, our detailed Trezor wallet review Australia will help you explore the various dimensions of this hardware wallet solution and give you a detailed overview of the Trezor wallet.
With comprehensive pros and cons discussion, this review will assist you to know whether if Trezor wallet is an ideal wallet for you or not. With this being said, let’s jump into the review
Key Points On Hardware Wallets
◾ Your hardware wallet will be a one-stop solution for your crypto storage need. It will store all of your digital assets in offline storage, secured by long keys or phrased passcodes called seeds
◾ A good crypto hardware wallet must have entirely open-source in its structure and be open to regular scrutiny by a trustworthy community of its users and experts
◾ Crypto hardware wallets must have regular and punctual firmware updates to make sure that any software loopholes could not be exploited
◾ An easy-to-use user interface could be the deciding factor for your hardware wallet as it will allow you to use your device with no hassles.
◾ Lastly, your hardware wallet company must have a history of reliability, good user reviews, and a strong market opinion for the product and its manufacturer.
What Is Trezor Wallet?
With the first generation of Trezor hardware wallets released way back in 2014 by SatoshiLabs, long before the crypto boom, Trezor is one of the oldest players in the market of hardware crypto wallets.
Trezor wallet is a cold storage solution for crypto and blockchain assets, with Trezor T or Trezor 2 being the latest wallet in the market.
Trezor promises top-notch security, an easy-to-use device interface, and a clean user-friendly UI.
Regular firmware updates and a robust technical support department of Trezor make it one of the finest choices in the market.
However, the price of the Trezor Model T could make you think twice before buying this device, but the performance and security it delivers are the things that make it worth a long-term investment purchase.
What’s In The Box?
Trezor wallet T Australia gives a simple and clean unboxing experience and the box comes with a plastic seal to ensure that the device wasn’t accessed or tampered with before it reached your hands.
Inside the box, you will find a strong-looking Trezor wallet T with its cut-to-cut and non-glossy body finish.
Along with it, you will find the manuals, a USB cable to connect the device with your desktop, your recovery seed sheet, and a key lanyard to make your device easy to carry.
With an overall decent packing, Trezor wallet T is not the most aesthetically pleasing hardware wallet you’ll find, but it is surely one of the safest.
Trezor Wallet Features
Trezor wallet comes with a lot of features built into it. Here in the Trezor wallet Australia review, we are discussing those that make Trezor wallet a great choice among other hardware wallets for Australians.
Trezor hardware wallet has a two-factor authentication security feature that adds an additional layer to the security and privacy of this device.
Two-factor authentication is one of the most common ways used by applications and devices around to globe to secure their users.
With open support to UTF, Trezor discourages the prevalent use of TOTP as a standard security norm.
“TREZOR offers a convenient, yet secure method of two-factor authentication, based on a universal standard. We strongly recommend websites to offer U2F instead of TOTP.”
– Pavol ,Rusnak, Core Developer, Trezor.
One Easy Solution For All Your Crypto Needs
Trezor could easily be your one-stop solution for all of your crypto storage needs with a long list of features.
It has top-notch security measures to ensure that your crypto assets stays right where you want it to be in your wallet.
It has a large number of crypto coins and tokens support with total coverage of more than 1600 cryptocurrencies from around the globe and almost all the tokens native to Australia.
Trezor also provides special measures for backup and recovery and good customer support to deal with any inconvenience at any time of its use.
GNU privacy guard integration is an important feature of Trezor. GPG or GnuPG is an open encryption application that uses OpenPGP(RFC4880) standard encryption. With OpenGPG, one can encrypt sensitive data and sign digital documents.
With GPG Trezor integration, you can sign your documents without the need to encrypt your passwords every time.
All you’d need to do is to connect your wallet and pass the instructions and there you go with your signed digital document.
Secure Admin SSH Access
Secure Socket Shell is a secured network protocol that gives an admin access to use a remote computer.
It is used by network admins to manage, administer, control, program, and execute operations with secure access to a remote machine.
Your Trezor wallet will store the private key that is required to generate a public key to get access to a remote machine.
Your private keys will never leave your Trezor hardware wallet, making it an extremely secure process.
Trezor Wallet Interface And Ease Of Use
From an easy setup process to having a clean and simple hardware interaction, Trezor wallet offers an easy-to-use device experience.
Trezor wallet T comes with a comfortable display to confirm the transaction hash without the need for additional scrolling.
Trezor’s immense user base also acts as a cushion for new users of the device and thus makes it easy to use.
Trezor Wallet Australia Supported Coins
Trezor supports a wide range of crypto assets in its multi-currency wallet. With over 1600 supported tokens and crypto coins, Trezor offers its users a device that can cater to the needs of a diversified blockchain portfolio.
Trezor supports all the major blockchain projects of the modern-day crypto world, including Bitcoin (BTC) Ethereum (ETH) Tether (USDT) Binance Coin (BNB), U.S. Dollar Coin, and many others.
However, robust support to these megaprojects does not let Trezor compromise with new crypto tokens. It supports almost all the coins present in the market and tokens from around the globe.
Trezor Wallet Safety & Security
When it comes to hardware wallets, security is one of the most critical parts of them.
The only reason one will shift to a hardware wallet is a major security loophole in online and software wallets.
Trezor Wallet, however, reduces this risk to an extremely low level, as it never lets your private keys be exposed to any online interaction during the transaction or coin swap.
It has various security measures that include firmware verification to verify firmware signature, protected key operations that make it impossible to access even public keys without entering your PIN.
Regular updates procedure for all the Trezor devices, additional paraphrase support, protected bootloader, and reliable backup and recovery options in the case of a lost hardware wallet.
These extra layers of security make the Trezor wallet almost impossible to hack and set it apart from many low-end hardware wallets available in the market.
Trezor Wallet Benefits
Even though there are lots of benefits of being a Trezor wallet user, we are mentioning a few of them that Australians simply cannot miss
Trezor has an open-source architecture that is a major indication of the overall transparency commitments of SatoshiLabs.
The Open-source architecture of the Trezor wallet makes its source code completely transparent for any external or third-party scrutiny.
It means that anyone can check how the Trezor wallet functions and certify its processes.
Open-source architecture also allows the organizations to take feedback from the community and improvise the overall performance.
Trezor allows various third-party integrations using their API – Trezor Connect. It allows these integrations to facilitate the user through various tedious processes and provide an enhanced overall experience.
Trezor Connect API never allows these third-part integrations to have a peek at your private keys and makes the use of third-party integrations completely secure.
Trezor has multi-crypto support, which means that it can support most of the coins and tokens of the mainstream market.
This feature allows the users to deploy a diversified investment plan as per their needs.
Having a diverse investment plan not only reduces the risk of investment in the fragile markets as that of cryptos but also allows you to have some extra gains.
Trezor Wallet Pros And Cons
As we can see there are many Trezor Wallet Review Australia showing only the positive side of the wallet, but like every wallet, Trezor also has some negative sides, we have mentioned the major Pros and Cons of Trezor wallets below.
- Second to none security features make it almost impossible to hack
- Multi-crypto support. Supports over 1600 crypto coins and tokens
- Third-party API integrations, GPG integration, SSH secure access
- Limited USB access to protect your Trezor from an infected machine
- A wide user-based community with over one million Trezor devices sold.
- Not the easiest hardware wallet to use and does not have a wireless connectivity option
- Could be pricy if you are just starting your crypto journey
Trezor Wallet Pricing In Australia
If you are living in Australia, you can buy a brand new Trezor Wallet One for AUD 149 while a Trezor Model T will cost you around $300AUD.
Being on the expensive side in terms of its pricing, Trezor Wallet presents a good value in terms of its build and other services, along with sturdy security options.
Trezor also offers some other products that can complement your purchase, including a Cryptosteel Capsule, USB C cable, Backup Pack, Crypto tag, etc.
In the times when people are moving towards hardware wallets to secure their investments, we must make sure that security concerns remain our top priority while choosing our perfect hardware wallet and Trezor Wallet does not compromise with that.
Trezor Wallet vs Safepal Wallet
When it comes to a hardware wallet, there are a lot of options that are present in the market and one amongst those wallets is the Safepal wallet.
With an attractive price of only $39, the Safepal Wallet stands as a strong competition for the Trezor hardware wallet.
On one hand, where the Trezor wallet does not directly support any mobile devices, the Safepal wallet supports only mobile devices, which makes both of them rule in completely different user bases.
In terms of API integrations, Trezor gains a major advantage over Safepal with a higher number of third-party integrations available for its device.
Conclusively, we can say that The Trezor wallet could be an ideal choice for those traders who are looking for more robust and premium performance in the desktop compatible hardware wallet solution.
However, if you are looking for a cheaper option to use it with a smartphone, Safepal could be your choice.
Trezor Wallet Customer Support
Trezor has reachable and effective customer support. They also entertain an elaborate FAQs page, which one can refer to for small technical issues.
A community of a wide user base of Trezor wallet developed an accessible forum for discussing technical and non-technical aspects of a Trezor wallet.
Trezor also has its own customer support teams that deal with all the major and minor issues which their users face.
Trezor Wallet Review Australia – Final Verdict
Trezor Wallet is one of the best hardware wallets out there in the market with industry-standard security protocol, multi-level backup options, and third-party API integrations.
It could be a go-to choice for those crypto investors who are willing to move their stack to the truly safe storage and do not want to risk it on an online or a software wallet.
This Trezor Wallet Review Australia presents you with a three-dimensional overview of this hardware wallet.
We hope this Review will help Australians to know more about the different aspects of different hardware wallets present in the market.
It will also empower you to take an educated decision before investing your money in a hardware wallet solution.
Also Read: Hot vs Cold Bitcoin Wallets
Frequently Asked Questions
Trezor is a complete security solution for all your hardware wallet needs. Ledger wallets are very secure when it comes to a hardware wallet that is compatible with both desktops and mobiles.
Yes, Trezor can store Ethereum and all other major altcoins.
You can not buy Bitcoin with your Trezor wallet without the use of a third-party API integration as it does not let the device connect to the internet directly to keep maintain its cold storage.
Yes, Trezor is compatible with Binance. You can use Binance with Trezor using third-part API integration.