Security: Trezor has been designed to protect your private keys from malware, virus’ and phishing. Compared to other alternatives, they are the most secure way to protect your bitcoins.
Portability: Trezor is small and easy-to-use. It can be connected to any Windows, Linux or Mac machine as an external device. You can use it anywhere in the world with any machine.
Extensibility: Trezor is compatible with different wallets: MultiBit HD, Mycelium and many others. This means you can use your favorite wallet service with your Trezor. You can link it with a desktop wallet, and use it for transaction authentication.
Durability: Cryptosteel is built with a fire-proof, corrosion-proof, acid-resistant, virtually indestructible stainless steel artifact that will keep your bitcoin keys safe from disasters. It’s used to store your recovery passphrase, which can be used to retrieve the contents of your Bitcoin wallet at any time.
Get Trezor- The Bitcoin Safe
Buy a Trezor and a Cryptosteel , Click Here. When you receive your Trezor it will come with a holographic seal, this ensures that the contents of the package were not tampered with in transit.
Installing your Trezor Device
Once you’ve received your Trezor, the next step is to install it. The most convenient way of using Trezor is to install the Chrome extension.
While Windows and Mac users don’t need any additional configuration, Linux users might need to install additional packages Read:Installing Trezor on Linux].
Once you’ve installed the Chrome plugin, go to myTrezor.com. You should see a welcome page with a device label. Enter a name for your device.
Setting Up Account Recovery Seed
If you’ve setup the device label successfully, you will see a message on the Trezor device’s screen to note down a recovery seed. The following step is IMPORTANT.
If you lose your Trezor Device or it gets damaged, you can always recover the contents of your wallet with this secret passphrase. Think of it as setting the “Forgot Password?” question except you’re not allowed to enter a recovery passphrase of your choice. The system generates one for you to ensure it is secure against brute force attacks.
Trezor will generate one word after another for you. Keep pressing the right key and note down every word. Once you’ve noted down the phrase, make sure you keep it securely in a safe location, anyone can gain access to your wallet with a copy of this recovery passphrase. We will discuss how you can keep the recovery seed safe using a Cryptosteel later in this guide.
Securing your Hardware Wallet
You can use the Trezor Device securely, even on computers you don’t fully trust by setting up a secure PIN.
Select “Enable PIN” in the Basic settings tab, under your “Account #1” tab.
When you click on the “Enable PIN” option, you will be prompted to enter a new PIN.
Hold your Trezor screen to your computer screen, you will match the 3×3 grid on the screen with the one shown on the PC. The numbers on the Trezor Device correspond with the position of the numbers on your PC. This ensures that no hacker who could have compromised your PC can see what your pin is.
If you were to copy numbers from your Trezor screen onto the dot pad in myTrezor, it would look like:
Don’t forget to choose a good PIN. Don’t use repeated numbers or a counting sequence. Avoid using your birthdates, phone numbers, house no, or any such obvious numbers as your PIN code.
How to Receive Payments
Once you have logged into your Trezor Device, you can start receiving payments. Click on “Account #1”. You’ll see three tabs: Transactions, Receive and Send. Click “Receive”.
When you click on the eye icon, a similar screen should pop up.
Match the address shown on the screen with the one shown on the display.
If both addresses match, the wallet address is genuine and safe to use. You can click continue to proceed with the transaction.
When you first receive a payment, the transaction would be marked as “Unconfirmed”, as shown in the below screenshot:
Transactions can take 10-30 minutes to get ‘confirmed’ depending on the congestion of the Bitcoin network. Once you’ve received the money, you will see the timestamp associated with the transfer.
Note: Once a Bitcoin transaction is confirmed, the Bitcoin transaction is final . There are no reversals or chargebacks in Bitcoin.
How to Send Bitcoins
In the same “Account #1 screen”, click “Send”. You will see the following menu.
The first detail that you will need is the recipient’s Bitcoin wallet address. You can either copy it manually or use the “Scan QR code” button to scan a friend’s QR code using your computer’s webcam.
Then enter the number of bitcoins that you wish to transfer, you can also enter the amount in your currency and the Trezor Device will handle the conversion for you.
Once you click “Send”, you’ll be asked to enter your PIN code. Each time you plug your Trezor Device into your computer it starts in a locked state. Once you have entered the PIN, it will stay unlocked until it’s unplugged and plugged back again.
After entering the PIN and hitting Send, you should be able to see the confirmation on your Trezor Device. Make sure the wallet address, and the amount of BTC that you want to send are the same that you entered. If they are the same, it means the transaction is safe and secure. Press the right button on the wallet to “Confirm”, or left to “Cancel”.
After clicking Confirm, you would be again asked to verify the transaction and see the transaction fees. Again, if the details look okay to you, you can confirm the transaction and make the transfer.
How to Protect Your Backup Seeds
If you plan on being your own bank, it’s a vital step to ensure that your funds don’t get lost to natural disasters.
While the Trezor device helps you protect your wallet from malicious hacking attempts, there’s still an inherent security risk involved with storing your bitcoins in a hardware wallet– the risk of physical compromise.
Remember anyone with the recovery phrase can access your Bitcoin wallet and spend your bitcoins. Since there’s no transaction reversals in the Bitcoin network, lost funds are next to impossible to recover.
This is why it’s extremely important to protect your backup seeds.
Whilst paper is a relatively safer medium, it’s prone to natural degradation like light damage, corrosion or natural disasters like fire and floods.
Cryptosteel is a fire-proof, corrosion-proof, acid-resistant, virtually indestructible stainless steel artifact that can be used to safely store your recovery phrase. It comes with 250 stainless steel letter blocks that are engraved on each side to provide easy formation of recovery words.
Since the Bitcoin wallet address has been created in an offline environment (using a trezor), and required no third-party verification, the private key information is proveably secret. Think of it as having a readily accessible safe deposit box; you decide what goes in and out, and you’re the only one who has a copy of the key to open it. The Trezor is the safety deposit box, the Cryptosteel is the Master Key. All you have to do is write the recovery phrase using the steel letters provided to you with the Cryptosteel device.
Cryptosteel can be used to create “eternal backups” and guarantee your bitcoin wallet’s safety. For the peace of mind , it comes at a fairly reasonable price. Once you have the system in place, you are ready to Buy Bitcoins, Click Here.