Hardware wallets like the Trezor are the safest way to store your cryptocurrency in NZ. 🇳🇿
Follow our guide to learn everything you need to know about Trezor hardware wallets in NZ.
What is a Trezor Hardware Wallet?
Trezor hardware wallets are a type of physical crypto wallet that stores your keys offline, requiring you to physically sign off all outbound transactions before they leave your wallet.
Thanks to this, hardware wallets like the Trezor are known as the apex of crypto wallet security, because they are virtually immune to remote / online hacking attempts.
- Trezor Model Ts are the cryptocurrency wallet of choice for Cryptocurrency NZ.
- There are two types of Trezor; the Trezor model T and the Trezor model One. Both can be purchased in New Zealand. (See below) (Prices range from $250 – $350 NZD)
- In order to send a transaction from your wallet, you must click “confirm transaction” on your Trezor wallet device, acting as physical 2-factor authentication for absolute security.
- Trezor is designed by Satoshi Labs, first launched in August 2014 as a Bitcoin hardware wallet. Since then Trezor has continued to innovate, now offering two of the most popular multi-currency crypto hardware wallets in the world.
View our dedicated Hardware Wallets Guide to learn everything you need to know about hardware wallets in NZ 👍
Where to Buy a Trezor Hardware Wallet in NZ?
The easiest, safest and fastest way to buy a Trezor Model T hardware wallet in NZ is by buying one directly from the manufacturer or through one of NZ’s official Trezor resellers.
- Trezor official Website – https://shop.trezor.io/
- Easy Crypto NZ Shop – https://shop-nz.easycrypto.ai/
- Crypto Store NZ – https://www.cryptostore.net.nz/
- Cryptocurrency NZ shop – (watch this space)
The bulletproof option is to order directly from Trezor, however purchasing via one of NZ’s trusted Trezor resellers may result in faster delivery speeds, depending on availability.
~ Frequently Asked Questions ~
How long will my Trezor take to arrive?
Delivery speeds are based on if you buy your Trezor locally or internationally. Local delivery times range between 2-4 weeks, with international deliveries sometimes taking months.
Is the Trezor worth the price? Is it more economical sticking to software wallets?
Should I buy a Trezor from TradeMe instead?
Due to the price range of Trezor wallets ($250 – $350 NZD), people naturally try source them from TradeMe or eBay, risking purchasing devices which have been tampered with.
Victims of a Ledger data leak in 2020 have reported being sent counterfeit hardware wallets as part of a sophisticated scam to steal their cryptocurrency.
Trezor Wallet Pros and Cons
Cryptocurrency NZ Trezor Wallet Review
Trezor is one of the oldest Bitcoin wallets around, created and is owned by SatoshiLabs in the Czech Republic. If you’ve been around Cryptocurrency for a while, especially Bitcoin; then chances are you already know a little bit about SatoshiLabs.
SatoshiLabs is a highly reputable security hardware and software company. SatoshiLabs was founded in 2013 and all projects they are involved in relate to Bitcoin or cryptocurrency in some way.
Trezor currently have two different models of hardware wallets available for sale; The Trezor Model One, and The Trezor Model T. Both devices are excellent options for great security when it comes to the storage of your crypto portfolio; however the Trezor model T being the newer model, has a far more advanced design and comes packed with more awesome features to enhance user experience.
Trezor Model T
The Trezor model T is the latest and greatest Trezor hardware wallet on offer by SatoshiLabs. Making its debut in 2018, the model T is arguably the best new generation hardware wallet on the market.
- The model T boasts support for over 1800 coins
- It connects to your computer using a USB-C cable
- Supports Windows, Mac OS, Linux
- Offers a 5-star rated customer support at all times
- Bright colour LCD touch screen – 240×240 pixels
- Size: 64 mm x 39 mm x 10 mm
- Weight: 22 g
Trezor Model One
The Trezor model one made its debut in 2014 and is still one of the most popular hardware wallets around. This is a good hardware wallet option for cost conscious crypto investors. However, if you’re wanting the best hardware wallet offered by SatoshiLabs, you will need to opt for the model T.
- The model one can support over 1000 different coins
- It connects to your computer through a micro-USB cable
- Supports Windows, Mac OS, Linux
- The device has a bright OLED screen – 128×64 pixels
- Size: 60 mm x 30 mm x 6 mm
- Weight: 12 g
~ Personal Testimony ~
Here at Cryptocurrency NZ, all staff own Trezor T devices and we strongly believe in the importance of storing our crypto-assets with the highest level of security. We believe that it is best to use a combination of wallets, we use our hardware wallets for long term holdings which we don’t plan on moving around, and we use a collection of different software wallets for daily transactions and spending.
We think the Trezor T is the best hardware wallet on the market due to its luxurious design and the multitude of software it is compatible with. We really love how Trezor have implemented many additional security measures that are optional, allowing users to achieve a unique level of security based on their personal preferences.
We urge anyone who invests or plans to invest into cryptocurrency to consider the benefits of using a hardware wallet, as well as the risks of not using one.
Trezor Hardware Features
- The private keys to your cryptocurrency are stored offline on the Trezor device in order to protect them from being exposed in any way; when you want to make a transaction you sign off on it externally (on the Trezor device) and your private keys never leave the hardware wallet. It is impossible for the private keys to be extracted onto your computer therefore making it safe to use your hardware wallet on a malware infected computer.
- The LCD screen enables you to put in your pin/password and view transactions before you sign off on them, the larger touch screen possessed by the model T is by far the best screen available on any hardware wallet, contributing both to the sleek design of the wallet and to the device’s ease of use.
PIN Matrix Shuffle
- Whenever your Trezor asks you for your pin/passcode, the order of the numbers displayed on your Trezor device are randomly shuffled, meaning you will need to look at the device for the placement of the numbers that make up your pin (you can’t use a pattern as this will change), this makes it significantly harder to guess your pin for anyone who may be looking over your shoulder with the intention of extracting your pin/passcode.
SD Card Protection
- Trezor model T wallets come with the option to use SD protection as an extra layer of defence against physical attacks. Essentially this is an optional feature where your wallet gets bound to an SD card, in addition to entering your pin / passphrase, you will need to have your SD card plugged into the Trezor T in order for your pin or passphrase to be validated. If you need an extra layer of protection against physical attacks, you would remove the SD card whenever your wallet is not in use, and keep the two items in separate locations.
As a safeguard against fake or imitated Trezor devices being used in a malicious way, Trezor hardware wallets are sent to you from the manufacturer with tamper-evident holographic packaging. The hologram comes on the box of The Trezor One and covers the USB-C port of The Trezor T and is used to verify the integrity of the device. This holographic packaging is the ultimate security measure as it makes it essentially impossible for your device to be tampered with prior to your possession of it without you knowing about it as soon as you go to use your Trezor wallet.
Trezor Software Features
- A distinguishing feature that makes Trezor stand out from other hardware wallets is the fact that all of its code is open source, meaning the source code is completely decentralised and free for all to view. This serves as a massive indicator of the degree of trust Trezor has in their products, and means the source code has been analysed and tested for vulnerabilities by countless industry experts.
Pin, Passphrase and Recovery Phrase
- Both Trezor devices are protected by an on-device PIN to prevent your private keys from being physically accessed by anyone other than yourself. If you lose your Trezor hardware wallet or it is stolen, you can access and recover your assets through the use of your 12-24 word recovery phrase. This is why it is instrumental to write your secret recovery phrase down on paper and store it in a safe place, as anyone who discovers this phrase will have complete access to the funds inside your wallet.
- When you set up a passphrase, it essentially becomes the 25th or 13th word to your 24 or 12 word recovery phrase. This means that if your secret recovery phrase is stolen or found by someone with malicious intent, it will be essentially useless without the passphrase. This is an excellent security feature because it is far easier to memorise one word than it is your whole recovery phrase, and if you are worried that your written down recovery phrase isn’t safe enough, it being found wouldn’t result in a loss of your funds.
Trezor Wallet UI
Trezor’s new desktop application, Trezor Suite, is packed full of useful features that make it easier to use crypto, including replace-by-fee for quicker transactions and a Tor switch for anonymising your connection. The trezor suite application supports over 1800 coins and is a perfect wallet interface for both crypto newcomers and seasoned veterans.
Trezor + Exodus Partnership
Additionally, both Trezor devices are compatible with the Exodus Desktop Wallet due to a partnership formed between Trezor and Exodus. This enables users who prefer the aesthetics of their Exodus wallet to continue to operate through this system, while still enjoying the increased security that the Trezor Hardware wallet provides.
An added benefit of using Trezor with Exodus is being able to sink your wallet with the Exodus mobile app, allowing you to easily view your Trezor portfolio anywhere, anytime.
All Trezor hardware wallets can be utilised as a password manager. Password managers are a convenient solution to store a large amount of difficult-to-remember passwords under one ‘master password’.
Unlike typical password managers where you have to use a ‘master password’ to unlock all encrypted passwords held within the password manager, the Trezor password manager does not require a ‘master password’ as it uses your Trezor device to physically grant access to the passwords.
More information on the Trezor Password Manager can be found on their user manual.
We can’t stress enough how important it is to use a Hardware Wallet to provide the highest level of security for your crypto assets. In our opinion, if your cryptocurrency wallet is worth more than the cost of a hardware wallet, then you should seriously consider purchasing and using one to protect your private keys.
If you’re still confused about how Hardware Wallets work, don’t stress. They are a hard concept to wrap your head around, especially if you are relatively new to the crypto world in general.
If you need more information on Hardware Wallets and why they are important you might find it useful to watch the video below; or if you haven’t already, have a look at our dedicated Hardware Wallets Guide.