All inhabitants of the world are accustomed to the fact that money has a material expression and is completely under the control of the state. Some countries establish their own currency, independently carry out its issue and control, others create a single currency system that operates within the framework of the whole union. Even the emergence of electronic payment methods does not raise any questions. But the digital currency is not issued by the state, its turnover is outside state control, and the market rate is formed on cryptocurrency exchanges.
Electronic money is a modern analogue of money familiar to people, which is created, used and exists exclusively on the Internet. Electronic currency cannot be obtained in cash, but it can be represented in the form of fiat money, converted into real currency at the current market rate. In fact, it is a digital code that is transmitted from one computer to another. This digital code is obtained through the exchange of information between users, which is collected in certain cells of the block, interconnected.
After that, the question arises of how to store digital currency, because it does not have a physical body. The answer is quite simple, there are special online wallets for this.
At the moment, a huge number of wallets have been created for storing electronic money, they all differ from each other in functionality and types, but they have the same essence, the safe storage of funds, their users.
What is a Trezor Wallet?
Security is the main criterion that investors pay attention to when choosing a wallet to store their digital assets.
Carelessness and an unreliable wallet are the most common reasons for losing personal funds of users. Such a bad development of events occurs due to the fact that novice crypto investors set themselves the task of buying as many coins as possible and leaving them for long-term storage or trading, while not thinking about the safety of their investments.
To protect users, experts recommend using not the first wallets that come across, but approach the choice as consciously as possible. The safest are considered wallets, the so-called "cold" storage. They differ from other types of coin wallets in that they do not have an internet connection and therefore cannot be hacked.
Trezor Wallet is rightfully the best of these wallets. It is used for both passive and active storage of digital money. It has established itself among many users due to its safe and convenient use.
In 2014, Satoshi Labs launched the Trezor Wallet, the first cold storage wallet for Bitcoin. Further, the company made additions to its work, established a security system, and now there are two models of this wallet on the market, which have proven themselves among users all over the world. He became the progenitor of all hardware wallets.
How does Trezor wallet work?
This wallet was created to store digital money and it gets the job done. Outwardly, this device resembles a USB flash drive, all private keys are stored on the device itself, which ensures high security.
To start working with the device, you need to connect it to your computer. To manage the wallet itself, special software is installed, or the developer's website.
How do transactions take place?
Everything in the wallet system is intuitive. The owner needs to select the type of transaction and fill in all the required fields. All types of operations are easily accessible and understandable, since the developers have tried to improve not only the safety of the device, but also its ease of use.
The creators made sure that users could be able to work with the device from any platform on which the computer is running. But as far as mobile phones are concerned, the wallet is only compatible with Android system. The Trezor Wallet device supports updates, so users do not see this as a problem.
Supported digital currencies
At the moment, the device supports more than 1000 different types of electronic money, they include both popular and rare altcoins. This gives the user the ability to have only one wallet, rather than several different ones.
At the moment, the device can be ordered in more than 150 countries around the world. This prevalence is due to its long-term presence in the market and good recommendations from users from all over the world. The developers strive to provide users of any country with a secure way to store digital assets. Also, the Trezor Wallet review is available to anyone with Internet access.
At the moment, Trezor Wallet supports English. But this is not a problem of the device, because the wallet interface is as accessible and understandable as possible at a subconscious level. But even if users have problems, they can always use online free translators.
Safety of the device and its use
It is worth starting with the fact that hardware wallets cannot be hacked remotely, for this attackers need contact with the device itself. Therefore, developers and users are advised to order the device only on the official website, so that the funds of future owners are under guaranteed security.
After receiving the device, it is also necessary to pay attention to the packaging; it should not show any damage, even remotely resembling its opening. If the packaging is damaged, you must contact the support service on the official website and refrain from using the wallet.
There is also a holographic sticker with the Trezor Wallet logo on the package. If they are missing or damaged, the user also needs to contact support.
After verifying the authenticity of the device, the user can proceed to the initial connection to his computer and set several levels of security.
The first thing the system will offer is to create a new wallet or restore an old one. After selecting the first item, on the screen of the wallet connected to the computer, you will see system prompts that you need to follow.
The device will generate a special passphrase, which can be up to 24 words long. This phrase must be written down and kept in a safe place. Without it, if you lose your wallet or change your computer, it will be impossible to restore the wallet.
Then the user needs to come up with a password to enter, it can contain from 4 to 9 characters and with each entry, the location of the characters on the display will change, which makes entering the password even more secure.
Trezor wallet features
The main advantage of hardware wallets over other methods of storing digital money is increased security. Trezor allows you to store your private key offline, so the likelihood that hackers can get to it tends to zero.
The device, in addition to storing and transactions of digital currency, has the function of a crypto exchange. This makes it easier for investors by reducing the number of different systems and connecting everything in one device.
Also, before sending, the user can choose the size of the commission, but you should be careful, since this choice affects the speed of the transaction. The higher the commission, the faster the recipient will receive the digital currency. Likewise, and vice versa, the lower the commission, the longer the shipment will take.
Customer support is available on the official website of the device and works around the clock, instantly solving problems that have arisen, and contributing to their elimination in the future.
How to start using Trezor wallet in Nigeria?
In order to understand how to use Trezor Wallet in Nigeria, the user only needs to go to the official website, order a wallet and get it delivered for use.
One of the conveniences when ordering a device is that you can pay for a wallet with digital assets. The site allows you to choose from 10 offered coins, convenient for the user and make a payment.
Recovering an account on a device
To do this, the user only needs a Seed-phrase. If the owner of the wallet has lost it, then recovery is impossible.
For the safety of the Seed-phrase, together with the device, the user receives a small notepad where he can write it down.
Trezor wallet frequently asked questions:
Why use a hardware wallet?
These wallets provide the safest storage for their owners' assets.
Is Trezor wallet free to use?
The use itself is free, the user only needs to purchase the device itself.
Despite the fact that an updated model was released in 2018, users are still in no hurry to update the gadget, and newbie investors are buying the old model, as it is more profitable in price.
How secure is Trezor wallet?
Since the end of 2020, there have been no reported cases of Trezor Wallet hacking. And all because the developers are trying to maintain a good attitude of users towards their device.
Is Trezor Wallet a Good Digital Currency Wallet?
Yes, because it was created specifically to store it.
How can a user ensure the safety of their digital assets in the Trezor wallet?
The system itself will provide security, the user only needs to competently go through the initial registration and not tell anyone the password and passphrase.
What can you do with Trezor wallet?
It can be used to store digital assets, as well as their transactions.
How do I send e-money from Trezor wallet?
The user needs to select the type of currency and click on the "Send" function, then fill in the required fields, such as: the recipient's wallet address and the amount.
If my computer crashes, can I restore my wallet to another computer?
Yes, using a special passphrase.