Hardware wallets like the Trezor are the safest way to store your cryptocurrency in NZ.
Whether you’re holding Bitcoin, Ethereum, Monero or a multitude of coins, a Trezor hardware wallet will provide you with a safe and easy vault for your crypto investments.
Follow our guide to learn everything you need to know about Trezor wallets in NZ.
TLDR: The best way to buy Trezor hardware wallets in NZ is through an authorised local reseller such as Easy Crypto NZ’s shop, Crypto Store NZ, or even better Trezor themselves.
Trezor Model T
Purchase Cost: $219
Cloud Storage: No
Cold Storage: Yes
At Cryptocurrency NZ, we endorse the Model T as our preferred hardware wallet for several reasons, with security being at the forefront. The Model T offers robust security features, including offline storage of private keys and the availability of a physical security key, which provides an extra layer of protection against threats.
Pros of Trezor Model T:
✔️ Versatile Crypto Support: Trezor stands out for its compatibility with a array of currencies, enabling users to store multiple assets in one wallet.
✔️ Available Touch Screen: The presence of a touch screen on certain models of Trezor enhances user interaction and navigation. This feature contributes to a more intuitive and user-friendly experience.
✔️ Highly Secure: Trezor is renowned for its robust security measures. By storing private keys offline in the hardware wallet, it provides optimal protection against online threats such as phishing attacks and malware.
Cons of Trezor Model T:
❌ Security key exclusive to Model T: While the Trezor Model T offers the added security of a physical security key, other Trezor models lack this feature.
❌ Relatively High Cost: Compared to some software wallets, Trezor hardware wallets are relatively more expensive. The investment in hardware security might deter budget-conscious users or those with smaller crypto holdings.
❌ Not Beginner-Friendly: Trezor’s advanced security features and configuration options may overwhelm beginners new to crypto. The setup process to operate the hardware wallet effectively may require some technical knowledge.
The Trezor Model T Wallet is a cutting-edge hardware wallet designed to provide top-notch security for managing cryptocurrency assets. With its sleek design and user-friendly touch screen, the Model T stands out as a versatile solution.
One of its distinguishing features is the availability of a security key, which further enhances the protection of your private keys and sensitive information. This hardware-based security approach significantly reduces the risk of unauthorized access. For New Zealanders seeking a secure and efficient way to safeguard their digital assets, such as their Bitcoin the Trezor Model T Wallet is an excellent choice.
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 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.
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
Cryptocurrency wallets are free and cost nothing to set up and use – however you can buy Hardware wallets; the safest standard of cryptocurrency wallet in NZ.
You just need a computer or smartphone that can connect to the internet.
Cryptocurrency NZ believe that hardware wallets like the Trezor and Ledger are the benchmark of crypto wallet security. They cost between $200 – $400 and will provide you will confidence knowing you have stored your funds in the safest means possible.
Otherwise we’ve found Exodus to be extremely reliable, while also using MetaMask as our gateway to Web3.
Wallets are free to set up and use, however you’ll need to pay a transaction fee when sending funds. This fee goes to the network, not the wallet provider.
The exodus wallet is a safe option for storing your cryptocurrency. It is trusted by thousands of Kiwis here in NZ and is one of the most popular wallets around the world. When proper security measures are followed, the exodus wallet is a textbook example of a secure wallet for day-to-day use.
Investing in crypto is legal in NZ, therefore using a crypto wallet is also legal in NZ as a wallet is typically the first step in crypto investing. At the time of writing NZ regulations in regards to crypto are sparse, so it is advised to keep your eyes and ears peeled for when the time comes that the government attempts to regulate the crypto space.
Although you are required to store your Bitcoin in a Bitcoin wallet, your Ethereum in an Ethereum wallet, and so forth, it is possible to have one single ‘mega-wallet’ which allows you to store many various different types of crypto wallets in the one big wallet.
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.
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 cryptocurrency portfolio; however the Trezor model T being the newer model, has a far more advanced design.
Trezor Model T
Purchase Cost: $219 NZD
Cloud Storage: No
Cold Storage: Yes
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 crypto wallet.
- 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
Purchase Cost: $69 NZD
Cloud Storage: No
Cold Storage: Yes
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 cryptocurrency 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
Trezor Hardware Features
Private Keys:
One of Trezor’s key features is its emphasis on secure private keys. As a hardware wallet, Trezor keeps your private keys offline, isolated from potential online threats.
This ensures that your sensitive information remains out of reach from hackers or malicious actors. Additionally, Trezor uses a hierarchical deterministic (HD) wallet structure, generating a unique seed phrase to back up your private keys.
This allows for easy wallet recovery and enhances the overall security of your crypto holdings. With Trezor, you can confidently protect your assets, knowing that your private keys are safe and inaccessible to unauthorized individuals.
LCD Screen:
Trezor stands out for its emphasis on secure private keys and user-friendly features.
The hardware wallet’s LCD screen allows you to enter your pin/password and review transactions before authorizing them, ensuring added security. Moreover, the Trezor Model T boasts a large touch screen, unmatched by any other hardware wallet.
With Trezor’s combination of secure private keys and a user-friendly interface, managing your crypto assets becomes a seamless and reliable experience.
PIN Matrix Shuffle:
Trezor takes security to the next level with its randomized PIN display. Each time your Trezor requests your PIN, the numbers on the device are shuffled randomly.
This clever feature prevents anyone from easily guessing your PIN, as the arrangement changes every time. Even if someone is trying to extract your PIN while looking over your shoulder, they won’t be able to discern the correct combination. This adds an extra layer of protection to your Trezor wallet, ensuring that your crypto remain safe from prying eyes.
SD Card Protection:
For added defense against physical attacks, Trezor Model T wallets offer the option to use SD protection. By binding your wallet to an SD card, an extra layer of security is created.
To validate your PIN or passphrase, the SD card must be plugged into the Trezor T along with entering your PIN/passphrase. For heightened security, you can remove the SD card when not in use and store it separately from the wallet. This feature bolsters the protection of your crypto assets, safeguarding them from potential physical threats.
Holographic Sticker:
To combat the risk of fake or tampered devices, Trezor hardware wallets are shipped with tamper-evident holographic packaging directly from the manufacturer.
The Trezor One box comes with a hologram, while the Trezor T’s USB-C port is covered by the hologram. This packaging ensures the integrity of the device, making it virtually impossible for it to be tampered with before reaching your possession.
Trezor Software Features
Open Source:
What sets Trezor apart from other hardware wallets is its open-source nature.
With completely decentralized and freely accessible source code, Trezor instills a high level of trust in its products. Countless industry experts have scrutinized and tested the source code for vulnerabilities, ensuring the utmost security. This commitment to transparency and scrutiny makes Trezor a reliable and trustworthy choice in New Zealand.
Pin, Passphrase and Recovery Phrase
Trezor devices are safeguarded by an on-device PIN, ensuring your private keys remain inaccessible to others. In case of loss or theft, a 12-24 word recovery phrase allows access and asset recovery. It is crucial to write this phrase on paper and store it securely.
By setting up a passphrase, it becomes an extra word to your recovery phrase.
If your recovery phrase is compromised, the passphrase renders it useless to malicious actors. Memorizing one word is easier and safer than the entire recovery phrase. Even if your written recovery phrase is discovered, the funds will remain secure
Trezor Hardware Wallet UI
Trezor’s desktop application, Trezor Suite, offers a host of valuable features to streamline your crypto experience. It includes replace-by-fee for faster transactions and a Tor switch for enhanced anonymity. Supporting over 1800 coins, the suite caters to both beginners and seasoned crypto enthusiasts, making it the perfect wallet interface for all.
Trezor and 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.
Password Manager
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.
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 device to physically grant access.
More information on the Trezor Password Manager can be found on their user manual.
Cryptocurrency NZ Final Verdict
We can’t stress enough how important it is to use a Hardware Wallet to provide the highest level of security for your cryptocurrency 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.
If you need more information on Hardware Wallets and why they are important you might find it useful to have a look at our dedicated Cryptocurrency Hardware Wallets Guide.
