In today's video we're going to review the TREZOR hardware wallet,
all of its security features,
and why I consider it to be the best way to store
Bitcoin, Ethereum and other cryptocurrencies.
Our friends at Trezor.io sent me this incredible device
which I had been wanting to analyze in depth for some time now.
On multiple occasions I've heard people say
that Bitcoin has been hacked;
that who knows how many millions of dollars
were stolen in Bitcoin, etcetera.
Most often, what happens is that currency exchange sites
or platforms that use Bitcoin and other cryptocurrencies are hacked;
all the funds in them being seized in its entirety.
We can prevent being victims of the hacking of
exchange sites or platforms we frequent
by using "cold storage" for our currencies.
Remember that we have two ways of storing our digital currencies:
Hot storage: When we have access through
a platform connected to the internet
such as a digital wallet or exchange site,
and on the other hand we have cold storage solutions
where we can keep our funds outside of the internet
making it virtually impossible for hackers to steal them.
But before we continue I want to show you
the contents of the TREZOR wallet box.
In the box we'll find the TREZOR hardware wallet,
a micro USB cable, some stickers,
and a pair of cards to write our TREZOR wallet's recovery seed.
TREZOR is not a USB flash drive:
It's this small device that stores your private keys
and allows you to sign your transactions.
With TREZOR we can safely store
not only our Bitcoins, but also Ethereum,
Dash, Zcash, among many others.
And the best of all: to receive digital currencies
there's no need to connect your TREZOR.
Also, you can purchase a USB cable to
connect your TREZOR to an Android device
if you want to make a transaction on your phone.
The device comes without a preinstalled firmware,
so once you get it you'll have to connect it
to set it up for the first time.
Once your TREZOR is connected to your computer
we must visit trezor.io/start
where we'll proceed to install
the Google Chrome extension for the TREZOR.
We'll write the name we want for the device,
then we create an access password for the TREZOR...
matching the digits shown in the TREZOR's screen
with the spaces shown in our browser.
At this moment we'll create our recovery seed,
which is a set of 24 words that will serve to recover
access to our funds in case the device is damaged
or we lose our password.
We'll enter our PIN and now
we can access the funds in our TREZOR wallet.
Every time you connect the device to your computer
you'll have to enter a PIN between 4 and 9 digits long
using a numeric position keyboard that you'll have to
match with the numbers shown in the screen of your TREZOR.
This will prevent the theft of your PIN or password
by malicious users, malware or any kind of virus.
If you wish to acquire cryptocurrencies
or cryptocoins as they're also called,
and store them securely for a long time
you will surely need a device like this.
Now that our TREZOR is ready to be used,
I'll show you how to do a Bitcoin transaction with it.
Once we're in our wallet, we'll go to the "Send" section,
where we'll type out the Bitcoin adress
where we'll send the funds, followed by the
amount we wish to send,
and then we click the "Send" button.
We enter our PIN, and then we click the "Enter" button.
Lastly, we confirm we wish to perform the transaction
physically pressing the "Confirm" button in our TREZOR.
To send Bitcoin or any other currency,
you'll have to confirm the transaction on your TREZOR
practically preventing any hacker theft.
Our TREZOR digital wallet is a device
with a small screen to verify and send transactions
and two small buttons to confirm or cancel commands.
This incredible device will allow us to sign
our transactions by connecting it
to any device that accepts USB connections.
Though it's possible to leave your coins at an exchange site
this is not recommended, since you have
no access to your private keys,
and if hackers gain access to the exchange site
you may end up losing your funds.
Maybe at this point you're asking yourself
one of these two things:
"What happens if the TREZOR website crashes?"
"What if the company disappears?"
Or maybe what happens if you simply lose the device?
This would not be a problem;
remember that you keep your private keys!
And this means that you could import
your recovery seed in any other digital wallet
and get back access to your funds.
If you wish to purchase your own TREZOR hardware wallet
I'll leave a link in the description.
If you liked this video don't forget to subscribe and share.
I'll also leave these two videos that might like you.
Remember: My name is César Gaytán
@mrebola on Twitter, until next time!
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