On the other hand, hardware walls offer you the best possible security to protect your cryptocurrencies from hackers, thefts and other crooks. In the following, we introduce you to various hardware wallets and also show you our test winner.

What is a hardware wallet?

A hardware wallet is a wallet for your cryptocurrencies such as Bitcoin, Ether, XRP or Litecoin that stores your private key easily and securely on an external storage medium such as a USB stick. Hardware wallets have the following advantages over desktop or mobile wallets on mobile phones:

• Your private keys are secure at all times and cannot be read by software or viruses, as your hardware wallet is never connected to the Internet.
• Each transaction must be manually confirmed by a person via the respective device (Ledger, Trezor or KeepKey) so that abuse is effectively prevented.
• The software is open source, so that all updates and innovations can always be tracked and checked.
• Your coins are protected from hacking on exchanges and exchanges as they are stored safely on your hardware wallet and not on the Bitcoin wallets from Binance or Bitfinex. To date, no hardware wallet has been robbed.
• Most hardware wallets can manage many cryptocurrencies.
• Hardware Wallets offer significantly greater security than Desktop or hardware wallets at a often very low price – the acquisition costs are worth the hardware wallet investment in any case!

Practical hardware wallet Test: How we tested every product

The list of hardware wallets is long and there are always new competitors on the market. This makes it all the more difficult to maintain an overview and acquire a high-quality hardware wallet. That’s why we’ve put the work into it and put the most famous hardware wallets through their paces to make your hardware wallet purchase decision easier.

The following criteria are evaluated in our purchase guide:

• price-performance ratio
• Security and all available related measures such as 2-factor authentication.
• Available Coins
• customer support
• user interface

Ledger Hardware Wallet Nano S: Cheap but secure

From the French manufacturer Ledger there are different hardware wallets to buy in different price ranges and functional range. The all-round model that we use ourselves is the Ledger Nano S hardware wallet.

It offers an extensive protection, at a really very good price of not even 59 euros. In the following we will introduce you to the wallet and show you which cryptocurrencies are supported. We will also show you step-by-step how to use the Ledger Nano models in detail.

The Ledger Nano S supports more than 1,100 cryptocurrencies. These include Bitcoin, Ethereum, Ripple (XRP), Litecoin, Monero and almost all coins in the top 100 by market capitalisation. A complete list can be found at this link (takes you to Ledger’s official homepage).

Your Private Keys are optimally protected on the Ledger Nano S and protected from any hackers and phishing attacks. The wallet is protected by a PIN code, which is stored on a security chip that is also used for your identity card. There is also Ledger’s own operating system “BOLOS”, which has been tested by several renowned security companies and classified as absolutely secure.

The hardware wallet Ledger Nano S is compatible with the following operating systems:

• 64-bit desktop computer with Windows 8+,
• MacOS 10.8+,
• Linux without ARM processors
• Also compatible with Android 7+ smartphones

To connect the Nano S to your desktop or smartphone, you will need the software provided by Ledger. On the Ledger Nano S a kind of “App” must be installed for each cryptocurrency, so that this can be deposited on the Wallet and dispatched. The Nano S offers storage space for a total of 5 apps, so that 5 cryptocurrencies can be managed simultaneously.

However, this does not mean that you can store more than 5 cryptocurrencies on it. If you want to manage a digital currency other than the 5 already installed, simply remove an app, e.g. for Monero, and then install the Dash App. This works completely problem-free and fast. No security vulnerabilities occur here either.

The Ledger Nano S offers an almost unbeatable price-performance ratio and offers an incredibly high level of safety. In addition, it has been checked by several third parties for possible weaknesses and has even received a safety certificate. If you don’t want to spend a lot of money and still want to buy a hack-proof hardware wallet, then you should go for the Ledger Nano S. Here you can read our detailed Ledger Nano S Test (click link!).

>> Buy Ledger Nano S directly from Ledger <<

Ledger Nano X: Moderate price, but huge range of functions

Ledger introduced a new model, the Ledger Nano X, in May 2019. This hardware wallet is the company’s new flagship. The price of 119€ is clearly above the Ledger Nano S, but the new model offers far more functions.

The Nano X is slightly larger than the Nano S and some details in the design of the wallet have changed. The buttons of the hardware wallet are now located on the back and feel much better and have a better grip than on the previous model.

Another innovation is that the Nano X has a Bluetooth function. This Bluetooth connection is encrypted, so no hacker in the world can steal your assets. This means that you can easily and securely manage your Bitcoin and Ethereum via Bluetooth with your mobile phone.

As with the Nano S, you must manually confirm each transaction at the touch of a button. No matter whether you connect the Nano X to your computer (by the way, you can also communicate with your PC via Bluetooth) or to your smartphone, the connection is double- and triple-secured. The software “Ledger Live” allows a very simple and safe operation on your desktop PC or laptop.

Furthermore, it has significantly more storage space and allows the administration of more than 100 cryptocurrencies at the same time. So the Ledger Nano X offers enough storage space to manage each of your favorite currencies safely and reliably on the Nano X at the same time.

Of course as many cryptocurrencies, 1,100 pieces, are supported as with the predecessor model. The wallet is compatible with these operating systems:

• 64-bit desktop computer with Windows 8+,
• MacOS 10.8+,
• Linux, each without ARM processors,
• Smartphones with iOS 9+ or Android 7+

The body of the Nano X is much better than its predecessor and the possibility to operate the ledger via Bluetooth is a great feature that we don’t want to miss anymore. Also the administration of more than 100 cryptocurrencies at the same time is a great progress. Before it was sometimes exhausting to uninstall the different apps on the ledger just because I wanted to use a different cryptocurrency. In our opinion, this is the greatest improvement over the predecessor model.

That’s why we can definitely say that the Ledger Nano X is worth every cent! If your budget allows it and you are fluctuating between the cheaper version Nano S and the Nano X, then we would definitely choose the Nano X variant.

If you want to read our detailed Ledger Nano X review, click on this link (you’ll get directly to the review and our manual). At the moment there is a discount campaign directly at the manufacturer, where a Ledger Nano S and a Ledger Nano X can be bought at a price of 149€. This means a saving of more than 50% on the Nano S Ledger.

>> Buy Ledger Nano X directly from Ledger <<

Ledger Nano Blue: Hardware wallet with Touchscreen

The Ledger Blue is the most expensive model from Ledger and currently costs 279.99€. This price is among other things due to the built-in color touch display, which ensures unbeatable ease of use. In addition, the Blue model is slightly larger and heavier.

Unfortunately only 11 cryptocurrencies can be managed on the Ledger Blue at the same time. Another disadvantage compared to the Nano S and Nano X is the smaller amount of cryptocurrencies that can be stored on the Ledger Blue. The Ledger Blue has a safety chip that is also built into the other models and meets the highest safety standards.

Furthermore, the wallet is also operated via the “Ledger Live” software and therefore offers a similar interface. The following operating systems are supported:

• 64-bit Windows (8+),
• 64-bit Mac OS (10.8+),
• 64-bit Linux

You will also need to purchase a USB cable to connect it to your computer. The price for this cable is 15€.

For all touch screen enthusiasts, the Ledger Blue can be a good choice, as the safety and ease of use are really strong. Nevertheless, we would rather fall back on the Nano X model with regard to our purse, because here clearly more cryptocurrencies can be administered at the same time (up to 100 pieces) and the price is significantly cheaper with 119€.

That’s just our opinion. You’ll probably still get along very well with the Ledger Blue and appreciate its ease of use once you’ve used it.

>> Buy Ledger Blue directly from Ledger <<

Trezor One: Great price and strong security

Just like Ledger, Trezor also offers different hardware wallets at different prices and with different functionality. The Trezor One is the cheaper version that has been on the market for several years and currently costs 69€ directly from the manufacturer. The Trezor One’s body and case are of high quality and the keys feel handy and stable. A USB connection cable is included in the scope of delivery.

Trezor One supports more than 1,000 different cryptocurrencies, all of which can be used either directly or through a third-party app. All cryptocurrencies of the Top 100 are supported, with the exception of the following digital assets:

• Ripple (XRP)
• Cardano (ADA)
• Monero (XMR)
• Tezos (XTZ)
• Zencash (ZEN)
• Metadium (META)

Often you need to use a third-party app to send your coins easily and securely to Trezor One. A complete list of all supported coins and apps can be found here (click on this link to go to the official Trezor site).

Trezor is currently expanding the scope of its own software “Trezor Bridge” significantly, so that only its own software can be used and the use of third-party vendors is a thing of the past. This is the only major disadvantage compared to Ledger’s models.

Trezor Bridge’s user interface is really clear and intuitive. The operation is excellent and without any major problems. Here we would like to emphasize the fast and effective customer support. We contacted him because we weren’t quite sure how some of the functions worked in detail. We were helped energetically and very well-founded.

Your private keys are stored on the Trezor and are therefore not vulnerable to hackers or other phishing systems present on the Internet. Overall we are very satisfied with the Trezor One and the price is really excellent. The security is strong at all times, so your coins are in good hands all around.

You can find our detailed Trezor One review by clicking on this link.

>> Buy Trezor One on Amazon <<

Trezor Model T: The new hardware wallet of Trezor

Just like the Ledger Blue, the new Trezor Model T has a colour touch screen that provides a great user experience and allows you to work comfortably and quickly. The price is currently around 149€ and thus significantly higher than the predecessor model.

The biggest difference is the touch display, compared to the predecessor model. The PIN and passphrase can be entered directly via the Model T and no longer via your computer or smartphone. This provides much better security, as phishing programs cannot access your Trezor and are therefore completely safe from hackers.

The model will soon be able to be used with a MicroSD card. Developers can then install bottomloaders manually. The Model T supports significantly more cryptocurrencies which can be managed directly with the help of the company’s own software “Trezor Bridge”. A total of 1,064 cryptocurrencies can currently be stored and controlled with the Trezor Model T.

Setup is child’s play and operation is also child’s play. Trezor has certainly done a good job at this point. Overall Trezor presents a compact and reliable product at a strong price. The touch screen works reliably and ensures great operation. If you have any questions, the customer support will help you very quickly and reliably, definitely an important purchase criterion.

Somewhat unfortunate is that some cryptocurrencies still require the use of third-party software. We are very satisfied with the Trezor Model T and can definitely recommend it. If you want to read our detailed review of the Trezor Model T, click on this link (you’ll get directly to the Trezor Model T Review).

>> Buy Trezor Model T on Amazon <<

Opendime Bitcoin hardware wallet

The Opendime Bitcoin hardware wallet is a special wallet that works like a USB stick and can be passed on as “cash”. The dimensions of the stick correspond to those of a normal USB stick, which fits into every small trouser pocket. Furthermore, the price for three Opendime Bitcoin Wallets is currently 37.50€.

The wallet supports only one currency so far: Bitcoin. According to statement of the manufacturer further cryptocurrencies will not follow such as Ether or XRP. Unlike conventional wallets, the private key for a sealed stick is not known to anyone, but is only assigned when the wallet is set up on the computer. To actually release the private key, a piece of the stick must be physically broken out.

Therefore the Opendime Stick can easily be passed on to other people. This gives them easy access to the available credit. This is both positive and negative. If the stick is stolen or lost, the Bitcoins cannot be accessed anymore, a total loss so to speak.

On the other hand, a simple “physical handover” can be used to forward large quantities of Bitcoin, completely anonymously and at no cost and with a trace left in the blockchain. If you are looking for a hardware wallet where you can store multiple cryptocurrencies, you should use Ledger or Trezor models.

You should also be aware that you cannot assign a PIN or recovery seed to restore your wallet in an emergency. The Bitcoin Opendime Stick is suitable for people who are looking for a USB stick with which they can easily, quickly and anonymously share their Bitcoins.

The Opendime Stick fulfils its actual function comprehensively and reliably. Operation is simple and safe. If you are looking for a wallet for exactly this purpose, then the Opendime hardware wallet is just right for you. You can find our detailed Opendime Bitcoin Wallet review under this link.

>> Buy Bitcoin Opendime Stick on Amazon <<

Digital BitBox Hardware Wallet / Bitbox

The Digital Box hardware wallet, now renamed Bitbox, was developed in Switzerland and currently costs 44€. The wallet is the size of a USB stick and has an unobtrusive body. Thus it remains largely unrecognised by the public and uninteresting for possible thieves.

The wallet only supports three cryptocurrencies so far: Bitcoin, Ethereum and Litecoin. The manufacturer refers on his website to the fact that only Coins are offered, which are also actively further developed. The Bitbox has a connection for a MicroSD card. Backups can be made directly via the desktop app. This process is completely encrypted and safe from hackers and phishing attacks.

Furthermore, the desktop app offers 2-factor authentication to ensure maximum security. The Bitbox has no physical buttons that can be used to manually confirm transactions. This operation is released a small touch screen on the front. By manually touching this item, transactions can be confirmed, the device reset or firmware updates installed.

Bitbox relies on open source software whose documentation can be traced at any time. Furthermore updates are delivered regularly. At the moment there is already the Bitbox 01 to buy, the Bitbox 02, the successor, is still in development.

This should then carry invisible buttons, which are operated via gesture control. This sounds really innovative and is not yet available on the market in this mode of operation. Of course we will have to wait and see how good or bad the Bitbox 02 will be in practice. Overall we are completely satisfied with the Bitbox 01. The hardware wallet works reliably and has never been hacked before. You can find our detailed test report about the Digitalbox/Bitbox 01 here.

Furthermore there are all the important functions we expect from a hardware wallet. That includes:

• 2-factor authentication
• The possibility to restore the wallet
• Clear and intuitive operation
• Unobtrusive design

>> Buy Bitcoin BitBox on Amazon <<

ELLIPAL Cold Wallet: Hardware Wallet with Touch Display and Camera

The ELLIPAL Hardware Wallet is bigger and heavier than normal hardware wallets we have presented so far. The wallet is available in different ways to buy, the cheapest price is currently $ 149. The ELLIPAL Wallet has a 4 inch color touch display and is nearly the size of a Samsung Galaxy S4 Mini.

Furthermore, the device has a 5 megapixel camera with auto focus. Whether we really need these features for the storage of cryptocurrencies remains to be seen. Currently the following cryptocurrencies are supported:

Source: https://www.ellipal.com/pages/hardwarewallet-new

A total of 23 crypto currencies and all ERC20, TRC20 and TRC10 tokens are supported: BTC, XRP, ETH, XLM, USDT, LTC, DASH, EOS, ETC, DOGE, BTG, DGB, BTX, BCD, DCR, XZC, GRS, BCH, TRX, CMT, SMART, ECA, BNB.

Many more are currently under development. That’s what these coins belong to:

Source: ttps://www.ellipal.com/pages/hardwarewallet-new

The manufacturer guarantees regular updates, which are available for download once a month. New crypto currencies are delivered, which can be stored on the hardware wallet.

The value of the device is very high and it lies well in the hand. On the website of the manufacturer there is the possibility to order a metal case for the wallet to protect it from external influences. The software used by Ellipal to store your cryptocurrency is very simple and clearly arranged. We really like the interface very much.

The wallet can be operated via the ELLIPAL App with the help of your mobile phone. This means that a laptop or computer does not necessarily have to be available in order to be able to use the wallet to the full extent. We are really pleasantly surprised by this wallet and find the operation as well as the various application possibilities very good. Nevertheless, every user must decide for himself whether he needs such a large device that he also has a camera.

The secure storage of Bitcoin, ETH and XRP works wonderfully and super easy. The ELLIPAL Cold Wallet does this job safely and reliably. Take a look at our detailed test report of the ELLIPAL hardware wallet.

>> Buy ELLIPAL on Amazon <<

General information about hardware wallets

Set up the hardware wallet: First Steps

In order to avoid cheating and to ensure that your coins are stolen prematurely, you should follow these steps when purchasing and using your hardware wallet:

1. Order only from reputable suppliers. Either directly at the manufacturer (our recommendation) or check the respective seller data on Amazon, Ebay or wherever you order.
2. When you receive the hardware wallet, take a close look at the packaging. Is the package shrink-wrapped and also bears all the necessary seals that the manufacturer normally uses? If even the slightest damage can be seen on the packaging or the foil has been opened, do not use the hardware wallet under any circumstances but exchange it!
3. Follow the manufacturer’s initial setup instructions carefully. Write down all important passwords, seeds and PIN’s as they secure your assets in case of emergency. Take all clues seriously, especially for the safekeeping of your PIN’s or seeds. You should also keep your hardware wallet in a safe place (preferably a safe).
4. Even if it has already been mentioned in point 3, make a note of your Seed OFFLINE on a sheet of paper and do not save it in a text file on your PC. Files can become victims of a phishing attack. You’d just be playing into the hands of the hackers.
5. If you have followed the instructions given by Ledger, Trezor or your manufacturer to set up your hardware wallet, you should now be in the user interface of your wallet. Please always make sure that you enter the correct addresses when sending and receiving your coins. It’s best to double-check and triple-check them.

If you follow these steps, you can use your hardware wallet easily and safely. Also make sure that you install new updates regularly as they fix old vulnerabilities.

With every manufacturer there are further subtleties, which you must consider when handling your hardware wallet. In each Hardware Wallet Review we show you in detail what you have to pay attention to.

How secure are Bitcoin, Ethereum and XRP on your hardware wallet?

Hardware wallets are currently the most secure way to store your cryptocurrencies. More secure than desktop and smartphone wallets and much safer than keeping your coins on a exchange. Your assets are effectively protected from hackers and other attacks or malware. You eliminate these risk factors completely, because your coins are not stored on a exchange.

Nevertheless, it must be said at this point that even hardware wallets do not offer 100% security. There is no protection for every imaginable situation. Nevertheless, the use of a hardware wallet is the best solution and offers the highest security standard. Above all, you’re not protected from misuse. All transactions are one-way transactions. This means that once a transfer has been made, it cannot be undone.

Errors can occur here, for example, if you send your coins to an incorrect recipient address. In this case, your valuable cryptocurrencies are lost. Therefore, take a basic look at the operation of hardware wallets and read the detailed tutorials of the manufacturers carefully.

What should I do in case of hardware wallet theft?

What’s really important don’t panic. Even if your hardware wallet has been stolen or lost, there are still positive messages. The thieves can only access your cryptocurrencies if they know the PIN you assigned when you first set it up. The manufacturer ledger deletes the credits if the PIN is incorrectly entered three times in a row.

With the hardware wallet Trezor the time increases step by step, after each wrong input of the PIN, until you can try this step again. All in all, modern hardware wallets have many security mechanisms that protect your digital assets even if you have lost your wallet.

However, it is very important that you do not lose your seed (a sequence of 24 words that you also wrote on a secure piece of paper when you first set it up). This will allow the thieves to restore your account and access your coins.

So be very careful that your seed does not fall into the wrong hands and is kept in a safe place. If your hardware wallet has been stolen, you can still access your credit with your Seed. Therefore you have to get a new hardware wallet from the same manufacturer and reactivate it with your seed.

Then you have full access to your cryptocurrencies and can send them to a new wallet, then you are on the safe side.

Backup and restore your hardware wallet

If your hardware wallet is stolen or it has a defect, then you can restore your wallet relatively easily, shown here as an example at Ledger Blue. However, for this you need your seed, which you wrote down when you first set up your hardware wallet.

By using your Recovery Seed, you can restore the Private Keys you need to activate a new ledger. The following video shows you how fast and easy this process works in practice.

Can all hardware wallets store the same cryptocurrencies?

Here there are big differences between the models. The manufacturer Ledger and Trezor each support up to 1,000 different digital currencies, whereby there are differences in the simplicity of operation.

With Ledger, a large part of the cryptocurrencies can be stored directly on the hardware wallet without the use of a third party app, such as myetherwallet.com. Trezor, on the other hand, requires the support of a number of third-party apps so that all digital currencies can be easily stored.

Nevertheless, both hardware wallet producers support a large number of important cryptocurrencies. You can find out which these are in detail in our detailed test reports on the respective products.

Buy hardware wallet: Amazon, Ebay or directly from the manufacturer

Even though Amazon and Ebay are 100% reputable and reliable as a platform, the merchants that appear there should always be checked. Therefore it is best to buy directly from the manufacturer, also on Amazon and Ebay. This means that you must make sure that the seller is on Amazon Ledger or Trezor itself. This can simply be checked under a point below the respective product.

Furthermore, it is worth reading product reviews if a third party sells the Ledger Nano S or a Trezor. This is a good way to detect possible fraudsters at an early stage. The same applies to Ebay, of course. Here, too, the sellers, including their valuations, should be examined.

But the safest way is to buy directly from the manufacturer on the official websites ledger.fr or trezor.io. You can be 100% sure that the products have not been counterfeited or otherwise manipulated to steal your cryptocurrencies. Regardless of which supplier you order from, the packaging and the respective security seals are always checked. This protects you from nasty surprises and losses of your digital assets.

The products have to travel a long distance by post, which can damage the hardware wallets. So take your time and thoroughly check the packaging and the devices in detail – it’s worth it!

If you enjoyed this post and found it helpful, we would appreciate a positive review!

Der Beitrag Hardware wallet review 2019: The best hardware wallets in comparison, test & evaluation, including step-by-step guide erschien zuerst auf Crypto News Flash.

Compared to traditional software and desktop wallets, a hardware wallet offers significantly better protection against phishing and hacker attacks as well as potential thieves. Therefore an investment in a hardware wallet is worth every Dollar. If you also want to buy a hardware wallet, read our Trezor One Review to the end to find out all the advantages and disadvantages of the wallet.

Trezor One Price and Official Dealers

You get the best price for your Trezor One for 69€ on Amazon. On the official website of Trezor you can also buy your Trezor, but here only the hardware wallet in white color is offered and costs 84€.

Source: Trezor.io

This puts the Hardware Wallet in the middle of the price competition. The wallet can also be purchased directly from the manufacturer or on eBay or officially licensed resellers. However, it must be ensured that the respective sellers are reputable and do not represent fraudsters.

In our opinion, the best option is to buy the Trezor One directly from the manufacturer on the official website or on Amazon. Clicking on this link will take you directly to the Trezor website, where you can purchase the Trezor One in just 5 minutes.

All prices on the manufacturer’s website are displayed in Euro and include VAT. Bitcoin, credit card and Paypal are accepted as payment methods. The shipping is included in the price and takes place in almost all countries of the world. Although the shipment is from Prague (Chechnya), the delivery was within a few days in our mailbox. The package is very small and therefore fits in your mailbox.

>> Buy Trezor One directly from the manufacturer <<

Trezor One first impression and scope of delivery

If the postman brings you the parcel and you open it full of anticipation, please make sure that all seals are intact. Furthermore, the packaging must not be damaged, otherwise your Trezor One may be tampered with and someone may want to steal your cryptocurrencies. Even if this step could be dismissed as lapidary, please take it very seriously! Better a little more controlled than a fortune lost.

If nothing is broken and you don’t have to exchange the stick, the following is included:

• The Trezor One
• The USB-Trezor connecting cable
• A lanyard, but we recommend never to carry the Trezor on the key, too big is the danger of loss.
• Two recovery sheets on which you can write down your recovery seed (consisting of 24 words) and a map containing further information about the first setup.

Your Private Keys are stored on Trezor One and never come into contact with your PC or the Internet. When you have received your order in the best quality and you have checked everything several times, you can set up your Trezor One.

If you want to use your Trezor with your mobile phone, you need a connection cable (currently only available for Android devices!), which costs another 15€ extra and can be purchased directly from the manufacturer.

Trezor One Set Up

To set up your Trezor, you must take the following steps, all of which are more or less self-explanatory:

1. Connect your Trezor to your PC or laptop using the USB cable. Afterwards you only have to follow the commands on the display. If there is an Internet connection, the software will be installed on the device. If you already have a firmware on your Trezor, contact Trezor support immediately because there is an error. All Trezor One are delivered without any firmware!
2. The display will now show that you should go to the official website www.trezor.io/start. On the page you have to choose whether you own a Trezor One or the newer model, the Trezor Model T. Click on the Trezor One. You will also learn in a short explanation what a PIN and a Recovery Seed is.
3. In addition you can now choose whether you want to create a new wallet or restore an old one. Now click on “Create a new Wallet” as you want to create a new wallet.
4. Now you are asked to name your Trezor. To do this, the device must be connected to your computer all the time.
5. Trezor now asks you to assign a 4-8 digit PIN. You must enter this PIN each time you restart your Trezor One. If you enter the PIN 3 times incorrectly, your Trezor will lock automatically. It will take some time after the first lock until you can re-enter your PIN. Each time, after 3 incorrect entries, the locking time is longer. This prevents abuse.
6. In the last step you will be shown your “Recovery Seed”. The Trezor display will show you a total of 24 words. These are best written on the included “Recovery Sheet”. After each word that appears on the display, you can display the next word by pressing the right button on your Trezor. Store your Recovery Seed in a safe place that only you have access to. Otherwise, a thief can gain access to your assets. You will also need your Recovery Seed if your Trezor is stolen or you lose it.

If you have gone through these steps successfully, you can manage your cryptocurrencies – send and receive. You will also be asked to leave your email address and subscribe to the newsletter during setup.

The model is compatible with the following operating systems:

• Mac
• Windows
• Android
• Linux
• Chrome

Receive cryptocurrencies with the Trezor One – Guide

The Trezor Desktop software allows you to manage different cryptocurrencies. Bitcoin is preset by default. To deposit Bitcoin to your Trezor Wallet now, click on the “Receive” tab. You will then be shown a Bitcoin address where a part is missing.

To display the full Bitcoin receiving address, click on “Show full adress”. Now the full address will appear on both your desktop computer and your Trezor. Now compare the address on the display of your Trezor with the Bitcoin address displayed in the Trezor software. If these two addresses match, you can transfer Bitcoin from an Exchange, e.g. Litebit, to your Trezor.

If you want to know how to buy Bitcoin easily, quickly and safely, take a closer look at our Bitcoin Buying Guide (if you click on this link, you will be redirected to the 5-minute guide). To copy the address you can either copy the address with your right mouse click or scan the barcode. In addition, you can also send the Bitcoin receiving address by e-mail.

It is also possible to display the address again as often as desired or to generate a new one. If you buy Bitcoin on Litebit and the transaction was executed on Litebit, the Bitcoin blockchain may take short or long depending on the load.

Normally, a transaction is executed and validated within a few minutes. In this case, the Trezor Hardware Wallet dashboard and account balance will be updated. In addition, you can always see in the history when which transaction was received, by whom or sent.

You can find the following information in the overview:

1. All incoming and outgoing payments are documented.
2. The current exchange rate of a cryptocurrency, which you can select in the settings, Bitcoin is preset.
3. There is a chart showing the value of transactions over the last 30 days.
4. Last but not least, there is a search function with which you can search through all transactions made so far. This is especially helpful if you have labeled your transactions.

As soon as a transaction is received at a Bitcoin Trezor Wallet address, a new address is generated for the next transaction. This is to prevent multiple transactions from being assigned to a specific wallet address. Nevertheless, you can use a receiving address more than once.

Receiving cryptocurrencies is so easy with the Trezor Wallet, illustrated with Bitcoin as an example. If you are looking for a reliable exchange where you can buy Bitcoin, Ether, XRP and other Altcoins by credit card, then take a look at our Litebit experiences (if you click on this link you will get to our Litebit exchange review).

>> Buy Trezor One directly from the manufacturer <<

Sending Cryptocurrencies with the Trezor Hardware Wallet – Step by Step Guide

To send Bitcoin and other cryptocurrencies with your Trezor Wallet, click on the “Send” tab.

Then you will see an overview in which you have to enter several pieces of information. This includes the following information:

1. The receiving address, i.e. where your bitcoin or the respective cryptocurrency should be sent to.
2. The respective amount is indicated in the respective digital currency, e.g. 0.5 BTC and in Euro, USD or many other Fiat currencies.
3. In the last step you have to choose how high the transaction fees should be. Always keep in mind: The higher the fees, the faster your transaction will be executed. If you have time, you can simply leave this option on the default setting.

Trezor also offers other intelligent features that are more suitable for experts. This includes the following:

• One transaction can be sent to multiple recipients, saving transaction fees and time.
• Transactions can be sent without a signature.
• The transaction can be delayed and will not be executed until a later date.

Please only use these functions if you are 100% sure how the whole thing works in practice. Nothing is worse than to find out afterwards that you made a mistake. If you want to try it out, then use small amounts for your practice tests, then of course this is no problem.

When you have entered all the information, you can click on the green “Send” button. The transaction will now appear on the display of your Trezor One.

Now check that the reception addresses match the ones you typed. If this is the case, you can use the right button on the Trezor to confirm your transaction(s).

In the first step you confirm the receiving address, in the second step the total amount of the transaction is displayed again. If this is correct, you can confirm again, only then will the transaction be executed.

In total, Trezor offers the use of over 1,000 different cryptocurrencies. You can use these coins directly with the Trezor software:

1. Bitcoin
2. Ethereum
3. Litecoin
4. Dogecoin
5. ZCash
6. Dash
7. Namecoin
8. Bitcoin Cash
9. Ethereum Classic
10. Bitcoin Gold
11. Ubiq
12. NEM
13. Expanse
14. ERC20-Tokens

If you want to use other Altcoins, the Trezor One is compatible with many interfaces, such as the Myetherwallet, Electrum, Mycelium, Multibit, Coinmap, Encompass, Bitstamp and many more dApps.

In total the 14 mentioned Coins are supported, for all others there are compatible dApps, so that these can also be used.

>> Buy Trezor One directly from the manufacturer <<

Restore your Trezor One with your Recovery Seed

If you lost your Trezor for some inexplicable reason or it was stolen, you can buy a new Trezor One and reactivate it using the Recovery Seed. To do this, you must first switch to the wallet software and click on “trezor.io” on the Wallet tab. Then click on the “Trezor Recovery” button.

In the next step you will be asked to assign a new PIN. You have to enter this twice to avoid errors and to confirm your PIN. You will then be prompted to enter the words from your Recovery Seed. The Trezor shows you on the display which word, for example word number 16, should be entered. So you have to enter all 24 words.

Once you have successfully entered all 24 words, you will be asked for your PIN again. You must enter and confirm this. Immediately after that you can access your account again, if the reactivation worked completely. Overall, this process is very easy and fast to perform, as you can type the words using the keyboard of your PC.

A direct competitor solved this somewhat differently and more laboriously. To make the Ledger Nano S or Nano X more reactive, all words must be entered using the two buttons on the hardware wallet itself. This is a very tedious job, because the alphabet has 26 letters and you can jump one letter up or down with each button.

This is an advantage with Trezor, but it can’t be ruled out that keyloggers will track your recovery seed. Seen neutrally, it can be seen as both an advantage and a disadvantage.

The following video shows how to restore your Trezor One quickly and easily.

Advantages and disadvantages of Trezor One

Conclusion on the Trezor One Test

Trezor One is really easy to use and the user interface is very clear. The explanations in the user interface also support the user in expanding his own knowledge.

The Private Keys are securely stored on your Trezor at all times and protected from hackers and phishing attacks.

The price is in midfield, but security is very high. Trezor has made it almost impossible to steal your crypto currencies with a considerable number of security features.

Unfortunately only 14 coins are supported so far. For some interested parties this can be a knockout criterion. But if you don’t mind using third-party apps, you can buy Trezor One with a clear conscience. If you need more than these 14 coins, the Trezor Model T can be a solution. This already supports 51 coins.

Overall, we are completely satisfied with the Trezor One and can definitely recommend the Hardware Wallet to others. If you want to keep your cryptocurrencies safe, you should definitely buy a hardware wallet like the Trezor one.

>> Buy Trezor One directly from the manufacturer <<

If you’re still unsure which hardware wallet (if you click this link you’ll get to the overview) is right for you, then check out more reviews with Trezor One alternatives from us:

• Ledger Nano X Test
• Ledger Nano S Test
• Trezor Model T Test
• ELLIPAL Test
• Bitbox 01 Test
• Opendime Bitcoin Stick Test
• BlochsTech

Der Beitrag Trezor One Test: Our experience, Review and evaluation + a beginners guide erschien zuerst auf Crypto News Flash.