In a move aimed at aiding diverse crowds entering the crypto space, Trezor has unveiled a trio of innovative products. These releases coincide with the 10th anniversary of the introduction of the first Bitcoin hardware wallet by the company, a move depicting its plans to make self-custody more accessible.
The product lineup includes:
- Trezor Safe 3, an easy-to-use, secure hardware wallet available in four distinct colors;
- Trezor Keep Metal, which features a robust recovery seed backup solution;
- Trezor Safe 3 Bitcoin only, which is a limited edition Bitcoin-only model tailored exclusively to the original flagship crypto.
Trezor’s New Products
According to the announcement shared with CryptoPotato, the Czech company behind the world’s first Bitcoin hardware wallet, its new Trezor Safe 3 hardware wallet is designed to cater to the diverse needs of crypto users and offers an appealing and user-friendly design.
It introduces a secure element, a tamper-resistant hardware component that enhances security, especially in the event of device loss. Combined with a strong passphrase not stored in the device, it offers ultimate protection for users’ crypto holdings.
The company chose a third-party secure element vendor, allowing it to publish any potential vulnerabilities discovered. The device integrates seamlessly with the Trezor Suite desktop application, offering an all-in-one solution for managing digital assets, including buying, selling, exchanging, and saving crypto.
The Trezor Safe 3 supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and over 7,000 other coins. It is priced at €79 / $79.
The Trezor Keep Metal, on the other hand, addresses the crucial aspect of safeguarding the recovery seed. In the event of a lost or stolen Trezor hardware wallet, the recovery seed, a unique string of words generated during the initial registration, can restore access to the wallet. Trezor Keep Metal offers protection against fire, water, corrosion, and impacts, making it a reliable and durable solution for backing up recovery seeds.
This product is suitable for 12-word and 24-word standard backups, with options available for €99 / $99. It also supports Shamir backup, making it an ideal security solution for Shamir-compatible Trezor Safe 3. The version catering to 3 x 20-word Shamir backup is priced at €249 / $249.
These devices are available for pre-order and will be shipped in mid-November.
Growing Calls for Self Custody
Last year’s FTX collapse forced consumers to rush to self-custody solutions to safeguard their digital assets. In addition to Trezor, hardware wallet provider Ledger also witnessed massive sales amidst dwindling trust in custodians.
Sunday was @Ledger‘s biggest sales day ever
And amid the FTX collapse, last week was the company’s biggest sales week ever
– @iancr chief experience officer at Ledger said to TechCrunch
— Jacquelyn Melinek (@jacqmelinek) November 14, 2022
Matěj Žák, CEO of Trezor, also emphasized the increasing importance of self-custody in the space, particularly as the number of crypto owners continues to rise. He noted the risks associated with centralized exchanges and stressed the importance of owning and safeguarding one’s crypto assets.
“Events over the last year or so have demonstrated the risks people are taking when they entrust the custody of their cryptocurrencies to centralized exchanges. Time and again, we’ve seen the reality of ‘not your keys, not your coins’ play out.”