Coins Supported by the First Ever Crypto Wallet, Trezor
Traders have two ways of storing their cryptocurrencies: either on a crypto exchange or hardware wallets. Crypto exchanges are not always recommended, especially for those holding large amounts of crypto, as several hackers have managed to break through some well-known exchanges. This, fortunately, is not the case with hardware wallets.
Hardware wallets are physical devices that allows one to store their digital assets in private keys. It often takes the form of a USB; however, such wallets require pins and seed words to exchange and manage one’s holdings. The reason why hardware wallets are preferred is the additional measures taken to enhance security.
This is where Trezor comes in handy.
Trezor is proclaimed as the first and original hardware wallet, designed specifically for Bitcoin. The following will provide a complete analysis of Trezor, the measures taken to increase security, and the updated list of cryptocurrencies it now supports.
What Is Trezor?
Trezor is a hardware wallet that has been designed to help traders store digital assets, mainly crypto, in the most secure manner possible. Being known as the one to support Bitcoin since its launch at the time, Trezor is still preferred by many due to the developers’ ability to adapt and enhance support to the growing market’s alt coins.
Why Should Traders Consider Trezor?
There are many facets that make this respective hardware wallet attractive. For starters, Trezor allows users to check important transaction details prior to confirming anything. Second, the device uses and creates cryptography (aka secret keys), which the user of the device only has access to.
This is an important feature, as it prevents misuse of assets. Next, the physical device itself has been made compact, water-resistant and durable for long term uses. Lastly, to eliminate any means of hacking, Trezor takes on the simplest design possible.
What Cryptocurrencies Does Trezor Currently Support?
Trezor no longer stops at only supporting Bitcoin (BTC). As of January 2018, several other alt coins are now supported by this hardware wallet and they are as follows:
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- ERC-20 Tokens
- UBIQ (UBQ)
- NEM (XEM)
We will continue to update all of the cryptocurrency coins and tokens supported by the number one, most used hardware wallet.
Trezor Wallet Conclusion
Overall, the developments made to Trezor are commendable, as its ability to securely store cryptos is made possible to alt coins as well. While beginners who are making their way to the crypto market are possibly investing small, which typically does not require a hardware wallet, those who have been part of the market for long normally take the additional measure to secure their belongings.
The extra protection is crucial, as it eliminates the interference of hackers, phishing sites and viruses altogether. Making the additional investment of around $100 to $250 is definitely a plus, as there is no way to lose the gains made. It is important to mention that users should be careful of noting down his or her keys, otherwise one will not be able to gain access to what’s stored in the wallet. For more information, check out: https://captainaltcoin.com/trezor-supported-coins/