Trezor Unboxing (Trezor Guide Part 1/3)
Unboxing a new Trezor! This fancy white box can is a hardware wallet that can hold multiple cryptocurrencies like Bitcoin, Ethereum and Dash. With hardware wallets, the private key never leaves the device - meaning that hackers can't steal your Bitcoin!
Buy your Trezor at: https://shop.trezor.io?a=6xd5fhdqqjng
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Best feeling! I wrote about when I first got my one here - https://bitcoingamblingreviews.com/we-bought-a-trezor/
Unboxmining?
Thanks for this, i follow your vids on youtube as well, love the work you do!
I agree, great investment for peace of mind.
Trezor > Ledger!
What is your opinion on paper wallet? Hardware wallets are little bit expensive for small investor like me. This Trezor wallet costs almost $200 on Amazon in my country.
Also, how do you backup software wallets while formatting the system to re install the OS.
You are right. The price of hardware wallets is on the expensive side, it will keep many away from them. If you plan to hold and keep investing in Crypto currencies for a long time, i would still recommend it, because of the added security in your investment. You may buy $100 worth of Bitcoin today, but what if you hold it for a long time and then is worth $1,000? Or more. Paper wallets are useful in that you can keep storing your coins there but remember two things: 1) You can only add coins to your paper wallet so you won't be able to use it for say daily transactions. 2) It is a piece of paper and you have to make sure you keep it safe somewhere. Fire, water damage could destroy it easily, so you may want to have more than one copy or make sure you have your address and private key backup somewhere safe. Cheers.
Thanks. I had a misconception that i can use paper wallet like a normal software or hardware wallet.
What happens if the wallet gets corrupted or stops functioning?
This is a major concern for me too. Any how it is a electronic device. A lot of Pendrives have got corrupted in the past.
As long as you have your seed words (the words are given to you when you first setup your Trezor) you can restore your wallet on a new or wiped Trezor hardware wallet.
that's a really wise decision, i don't want to store anything on a website with the way they're hacking everyone's holdings.
I've heard a lot about such devices and having seen the video I understood, I must buy! Thank you @boxmining
Can you have multiple addresses for multiple cryptos? Sorry for noob question.