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Bitcoin:
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$2.13 T

Trezor Safe 5: The Ultimate Hardware Wallet Debuts

Trezor Safe 5

Designed to promote self-custody of digital assets with the Trezor Safe 5 hardware wallet, a bitcoin-only variant, and the “Trezor Expert” onboarding service, crypto hardware wallet manufacturer Trezor has debuted a trio of new products at BTC Prague.

Features of the Trezor Safe 5

Using the Trezor Suite desktop and mobile app, the company said the new gadget will let users securely store, manage, stake, and use thousands of cryptocurrencies in one location. According to a statement, it boasts a bigger color touchscreen with haptic feedback, a new safe element meant to guard private data and execute cryptographic operations, and an improved 20-word backup mechanism.

Trezor devices, unlike those of competing manufacturer Ledger, are open-source, meaning they are community-based and audited, so flaws might be found and corrected more quickly. On the other hand, it could make stolen gadgets more easily cracked. The team said, however, that the Safe 5 secure element has an EAL 6+ certification, thereby verifying that the chip can resist advanced attacks and has been extensively tested.

Enhanced Backup Procedure

Designed to provide better protection with no single point of failure, the new backup procedure lets users upgrade from a normal single-share backup to a more complex multi-share backup, Trezor said. Shamir’s secret sharing is used to provide a backup whereby the master secret key is divided into several distinct shares. Users can choose the number of original shares the advanced backup consists of and the required count to restore the wallet. Users can still access their bitcoin even if certain shares are lost, the team clarified.

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Trezor said it will also provide a 20-word version of its Trezor Keep Metal solution in July to guard wallet backup phrases from fire, water, and physical impact. Still, the new gadget will support legacy backup procedures.

Trezor CEO Matěj Žák said, “Understandably, many crypto enthusiasts lack trust in exchanges and are looking for an easy and safe way to interact with their crypto assets.” “We saw that there was an opportunity to bring something fresh to the sector—eenter the Safe 5, the ultimate hardware wallet for crypto users looking for everyday utility along with the highest level of security and easy usability—ssince hardware wallets are often designed more for ‘hodling’ crypto rather than using crypto on a more regular basis.”

Pre-Order and Availability

The Safe 5 sets you back $169. Pre-orders for black graphite and bitcoin-only variants will be shipped in July. The statement says that green beryl and violet ore variants will be accessible by mid-August.

Designed mostly for crypto rookies and amateurs to encourage self-custody of their digital assets, Trezor’s latest hardware gadget extends its product portfolio with the debut of the Safe 3 in October 2023.

Trezor announced it will now sell an infinite edition of the orange-shaded bitcoin-only Safe 3 and Safe 5 for general sale, whereas the Safe 3 bitcoin-only editions were limited to just 2,013 devices in a reference to Trezor’s founding year.

Introducing Trezor Expert Service

Along with its new hardware device, the wallet manufacturer also revealed the release of Trezor Expert—ccustomized, one-on-one onboarding sessions meant to offer expert knowledge and reassurance to help consumers get set up with its crypto cold-storage devices and comfortable using its self-custody solutions.

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“For many, their crypto travels start on centralized exchanges before they progress to taking responsibility for storing their crypto on hardware wallets,” Žák said. “We have seen this happen several times following the fall of well-known exchanges when our sales unexpectedly increased. Newcomers to hardware wallets, however, may lack expertise, understanding, and confidence in configuring hardware wallets; they turn to social media and internet research to aid them through the process.”

Trezor Expert gives our customers the chance to investigate the security issues of self-custody in more depth as they cover topics such as private key management and safe online practices, helping them to set up their hardware wallets correctly,” Žák said.

Priced at $99, the service guarantees that only the customer knows the wallet backup and other sensitive information and will be available seven days a week worldwide. Trezor said.

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