Trezor Wallet ▷ The most popular hardware wallet in the test!
Trezor is without doubt one of the safest wallets out there. This is because it is an offline wallet. But what about the setup? The postman has delivered the package to you, the hardware wallet has arrived and now you are wondering how to use your new Trezor? Don't worry, we will show you all the steps and in no time at all your crypto currencies will be in the Trezor wallet.
Setting up the Trezor
We will now provide you with a 6-step guide for setting up your Trezor.
Step 1: Check your package
The first thing you should do when you receive your new Trezor is make sure that the silver hologram security seals are intact. Removing them is a time-consuming process. It is unlikely that they will open without human intervention. If the security seals are missing or appear tampered with, return your Trezor immediately. If the box looks legitimate, you can safely remove the product from the box.
Check the package for completeness
When you open the box, you should find the following items:
- TREZOR Hardware Wallet
- Magnetic holder
- USB-C cable
- 2x recovery slips
All there? Perfect, now let's get the trezor working.
Step 2: Connect your Trezor to your computer
Unpack the USB cable, plug one end into your Trezor and the other into your computer. Your Trezor should now guide you to Trezor.io/start.
Configuration on trezor.io/start
On trezor.io/start you should now be able to choose between different models. Select your device type.
You are now prompted to install the firmware on your device. Simply click on Install Firmware.
Once the firmware has been successfully installed, you will be prompted to disconnect your Trezor from your computer. Simply unplug the power cord from the Trezor and plug it back in to continue.
Step 3: Trezor Wallet Creation
After you have reconnected your Trezor to your computer, you will be asked if you want to create a new Trezor wallet. Answer yes to this question and create a new wallet to continue.
- Select "Create" to set up your new wallet.
- You will now be notified when your wallet creation was successful. Then click through the Trezor functions and to the wallet.
Step 4: Additional security options
The next step is to create a backup for your Trezor. Just click on the "Create a backup" button to do this.
Create a Trezor backup.
In this process you will generate your "24 Word Seed". This is basically a combination of different words, which is intended to help you not to lose your crypto currencies in case of password loss. Make sure that nobody, including yourself, has a photo of these words.
Likewise, you should not tell anyone else about this combination, save it on your computer or enter it anywhere online. Otherwise the sense of the Offline-Wallet would be lost. Simply write the words with a pen on a piece of paper (recovery note). If you want to take certain precautions, then we recommend that you confront a local notary.
Click Next and your individual seed will be displayed word by word on the Trezor screen. Make a physical note of this.
Once you have finished and checked your seed, you have successfully backed up your device. Now click Next to complete the setup of your Trezor.
Step 5: Name your Trezor
The next step is to give your Trezor an individual name. This step should not be neglected, so that you do not lose track afterwards. Even if you have several offline wallets, you will want to be able to distinguish between them.
Your Trezor device will now ask you to confirm the name change. Simply click on "Confirm".
Step 6: Setting up the Trezor PIN
In the further course of the setup you will be asked to set your new PIN on your Trezor.
Confirm on the Trezor that you want to set up a new PIN. Now you see two 3x3 grids on the Trezor screen. Enter your PIN via your computer. In this step you will be asked to enter your PIN twice, this is to make sure you don't make any typing mistakes.
Use of the Trezor
Congratulations, you have successfully completed the installation of your Trezor. Let's move on to the use of the Trezor.
How can you access different crypto currencies in the Trezor?
The first thing you need to do is to send crypto currencies to your Trezor. Click on the Bitcoin panel in the upper left corner of the screen to select different Trezor crypto currency wallets. Now select the crypto currency you want to manage in the Trezor.
How do you get crypto currency on your Trezor?
After you have selected the correct crypto currency wallet on Trezor, e.g. Bitcoin, Bitcoin Cash, Ethereum, etc. simply click on "Receive" and your individual Trezor wallet address will appear.
Note: You can generate additional wallet addresses in a crypto currency by clicking the "New address" button. This function is designed to spread your capital.
To display your full receiving address, you will be asked to enter your Trezor PIN. After you have done this, you will see the address on the screen or on your Trezor. Make sure that both addresses match before sending money to the address.
If both addresses match, just copy your Trezor wallet address and send your crypto currency here, be it a crypto wallet or online wallet, you should be able to find the "Send" function everywhere. Afterwards, your transferred coins will appear in the Trezor wallet and will be stored safely.
Sending crypto currencies out of the Trezor
Sending crypto currencies is very easy with the Trezor. Just make sure you have selected the right crypto currency wallet: If you want to send Ethereum, make sure you are in the Litecoin wallet. As soon as you click on the "Send" button, you will be asked to enter the wallet address to which you want to send the amount.
You can even choose the fee you want to pay. Here it is important to know that transactions with higher fees are processed faster. Once you have entered these details, simply click on "Send" and the transaction is complete.
Trezor has launched a great hardware wallet and we find the software to be very user friendly. The ease of use and the seriousness of the company has helped Trezor to gain a good reputation in the crypto field worldwide. We hope that this article has helped you and that you will soon be able to take advantage of the benefits of an offline or hardware wallet.
- Trezor logo: https://upload.wikimedia.org/wikipedia/commons/d/da/Trezor.png
- Trezor packaging: https://images-na.ssl-images-amazon.com/images/I/61S7cq%2B8WnL._SL1422_.jpg
- Trezor metal device: https://upload.wikimedia.org/wikipedia/commons/8/83/Trezor_display_transaction.jpg
- trezor device white: https://upload.wikimedia.org/wikipedia/commons/9/98/Trezor_-_Hard_Wallet-_Cold_Storage_for_Cryptocurrency.jpg
- Notebook: https://unsplash.com/photos/o-ubWHV29Uk
- Binary numbers: https://picryl.com/media/binary-code-binary-binary-system-973523?zoom=true
- Several Trezor Wallets: https://www.flickr.com/photos/jlarnos/40213129341
- Pictures from Trezor.io: Screenshots from website