We guess you are reading this because you have some Bitcoin in store and you are looking for a nice, compact solution for storing them. A hardware wallet is just what you need.
If you are new to the crypto world, a hardware wallet is one where private keys are stored in a protected area of a microcontroller, and cannot be transferred out of the device. Such wallets are immune to viruses, they are secure due to the lack of connection to software, and many more convenient characteristics to their name.
So, to save you long hours of searching for the right one, we compiled a piece on one well-known wallet- TREZOR.
TREZOR is a BTC hardware wallet and it was launched in 2014. It became the first hardware wallet to offer cold storage and the ability to spend with the functions of a hot wallet, as well.
The wallet is a small device which connects with an USB to your computer. TREZOR stores every Bitcoin and crypto private keys offline with signing transactions. It doesn’t cost much, as it costs just $59 and it is advisable to buy it only from the official store, Billfodl or any authorized reseller.
TREZOR is an HD wallet where the user controls the private keys, so the entire wallet is backed up with 24 words generated setup. This setup is generated with RNG (Random Number Generator) from a device or a computer. The 24-word seed generates offline and it is displayed on the wallet’s screen. This ensures that the seed doesn’t come close to an online device.
Setting up such a wallet is extremely easy: it can be done through myTrezor.com (TREZOR’s web wallet), the Chrome extension, and with the command line. The process includes creating a device name, password, and a PIN code. One thing to keep in mind is that it is best to use the extension and setup online, since the web wallet is connected to the Internet, and it cancels out the whole point of owning a hardware wallet.
TREZOR is a really powerful little tool that protects any kinds of outbound BTC transactions, and hackers cannot access the wallet since it exists in your pocket or your backpack. It is yours and all funds stored on it are in your possession.
In times of COVID-19, more and more people turn to online casinos now available in the market to play. When it comes to bitcoin casinos where you need to transfer funds for eSports betting, casino games, sports betting, TREZOR offers a safe way to do that. When you need to verify deposits at an online casino, you will have to enter a PIN code on the wallet, the amount you are sending, and the address. Users usually use such a wallet, so they can store their BTC in one non-vulnerable location.
Let’s say you have 5 BTC but you only want to deposit 2 BTC for an online casino game. You can use TREZOR to transfer the 2 BTC to your BTC wallet and then you can deposit them in your casino account.
So even if your wallet was snatched by hackers, they can’t get their hands on any of your BTC because the ones you deposited are in your casino account, and the ones remaining are on a device.
TREZOR is just one of many ways to keep your Bitcoins protected when you are dealing with transactions, so it is very good to always look out for alternative solutions for crypto currency storage.
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