Trezor One and the Trezor Model T are premium wallets produced by the SatoshiLabs.
• The Trezor Model T comes with a large, full-color touchscreen, while the Trezor One comes with two small buttons.
• Only the premium Trezor Model T uses the Shamir backup for better offline security.
• Windows 10 supports Trezor Model T. iOS doesn’t support Trezor Model T. This is due to iOS’s lack of USB support.
• Trezor One’s input system is limited. It only has just two buttons for saying Yes or No, Okay or Cancel, etc. it will be done through a computer (or phone).
SEE ALSO: How to Stake Cardano on Trezor Model T
Below are the differences and similarities as well as the pros and cons of both wallets in summary:
Trezor One and Trezor Model T – Differences
|Trezor One||Trezor Model T|
|It comes in two color variations which are black and white.||It comes in only one black color.|
|It has two small buttons for ease of use.||It has a touchscreen for ease of use.|
|It creates a 24-word recovery seed.||It creates a 12-word recovery seed.|
|You need to input the passcode on both your device and the computer.||You need to input the passcode on the device’s touchscreen alone.|
|It costs 53 Euros.||It costs 189 Euros.|
Trezor One and Trezor Model T – Similarities
|Similarities||Trezor One and Trezor Model T|
|Cryptocurrencies and native ERC20 tokens||They both support the same number of cryptocurrencies and native ERC20 tokens.|
|Cold Storage||They are both cold storage wallets.|
|PIN Code||They both have the PIN code feature.|
|Password Manager and U2F||They both can function as password managers as well as two-factor authentication devices (U2F).|
|Address Verification||They both have the address verification feature.|
Pros and Cons of Trezor One
|It is very affordable.||It does not support iOS devices.|
|It is easy to use.||You can only purchase select cryptocurrencies with fiat.|
|You can purchase cryptocurrencies with USD and exchange them in your wallet.||It is not free like software wallets.|
|It supports Web browser, Desktop OS, and Android.||It is a little more expensive than the Trezor model T and other wallets.|
|It supports over 1000 cryptocurrencies and tokens.|
Pros and Cons of Trezor Model T
|It has a large touchscreen display in color.||It has no support for iOS devices.|
|It is easy to use.||It is more expensive than most other hardware wallets.|
|Private keys isolated in Trezor Model T with PIN and passphrase protection.||You can only purchase select cryptocurrencies with fiat.|
|It supports Web browser, Desktop OS, and Android.||If you lose the 24-word recovery phrase in conjunction with the loss of your device, you would lose access to your crypto assets.|
|It supports over 1000 coins and tokens.|
|You can purchase cryptocurrencies with fiat and exchange them within the wallet.|
Now, let us take a look at both hardware wallets in detail:
The main difference between the Trezor Model T and the Trezor One is that the Model T has a touchscreen while the Trezor One has two pushbuttons.
The major advantage of the touchscreen is its accessibility, but it also gives a security advantage during the recovery seed process. With the Model T, you can easily input the recovery phrase just by using the device’s touchscreen.
This saves you the stress of keying in your recovery seed into your computer, which might end up being compromised by malicious software.
2. Cold Storage
When it comes to cold storage, both wallets satisfy these criteria as they are both cold storage wallets. Cold storage is the foundation of hardware wallets as it refers to the fact that your private keys are kept fully offline.
The private keys in a Trezor hardware wallet are saved in the device’s secure microprocessor, and when you plug the device into your computer, the private keys stay separated from the computer that is connected to the internet.
This implies that even if you connect your Trezor hardware wallet to a malware-infected computer or a public computer, your private keys and crypto assets will be fully secured.
Because even paper wallets require you to enter your private keys into a computer when you are ready to perform a transaction, hardware wallets are the only option to keep your private keys offline.
3. Native ERC20 Token Support
The Trezor Model T and Trezor One both have native support for ERC20 tokens. This implies that you can send and receive ERC20 tokens using both wallets.
4. Recovery Seed
Trezor wallets employ deterministic hierarchical recovery seeds. With a 12, 18, or 24-word recovery seed, this approach secures all of your private keys, public keys, and addresses.
This recovery seed will be written down on paper and stored offline. If your Trezor device is lost or stolen, you can recover all of your crypto assets by inputting the recovery seed into another Trezor wallet or any other compatible wallet.
The Trezor One creates a 24-word recovery seed, although it can still accept a 12-, 18-, or 24-word recovery seed from other compatible wallets.
Whereas the Trezor Model T creates a 12-word recovery seed, it can accept 12-, 18-, or 24-word recovery seeds from other compatible wallets.
The Trezor Model T requires just 12 words, as opposed to the Trezor One because the Model T’s recovery seed is input solely on the touchscreen and not on the computer.
You can import a 24-word seed from a Trezor One, as well as all related crypto assets, onto the Trezor Model T if you have it.
5. PIN Code
The PIN code is a feature that is present in both the Trezor model T and the Trezor One. If an unauthorized person gains access to your Trezor wallet, they will be unable to access your crypto assets because of the PIN Code. The PIN code is 4–9 digits long and is reset after many unsuccessful tries.
If you forget your PIN code, you can use the recovery seed to reset the device and restore all of your crypto assets.
6. Address Verification
When transferring or receiving crypto assets, you will confirm the address on the Trezor wallet’s screen.
This safeguards you from inadvertently entering an erroneous address as well as malware that alters the address at the last second.
Because of the Trezor Model T’s bigger screen, the address can easily be seen on it, unlike that of the Trezor One, which gives the Trezor Model T the edge here.
7. Password Manager and U2F
The Trezor Model T and the Trezor One can function as password managers as well as two-factor authentication devices (U2F).
In today’s world, it might be tough to remember all of the many complicated passwords for each of your internet accounts.
As such, the Trezor Model T and the Trezor One are capable of remembering all of your login, URL, and password information.
When you log into an account, you can confirm with your Trezor device, and the device will input your password for you.
The Trezor Password Manager syncs with Google Drive or Dropbox to securely store passwords. If your Trezor device is lost or stolen, you can still use your recovery seed to recover all of your password information.
Both wallets can also work as two-factor authentication devices for any of your internet accounts. When you utilize two-factor authentication, you use a device in addition to your password and username to validate your login.
They can also employ the Universal Second Factor (U2F) authentication, which is superior to the frequently utilized time-based One-time Password (TOTP).
8. Advanced Passphrase
Trezor also includes a sophisticated pass option for users that desire even more security for their crypto assets.
The Trezor Model T allows you to input the passcode alone on the device’s touchscreen, rather than on the computer, which gives it the edge here over the Trezor One.
The advanced pass is a word or pass that is added to the recovery seed’s 12, 18, or 24 words. If your recovery seed is compromised, the extra pass will secure your crypto assets.
The advanced pass works by providing you with numerous accounts. For example, you can have one primary account that keeps a small number of your crypto assets and matches with your recovery seed, and then a secret account that has the majority of your crypto assets that is unlocked with the second password.
Frequently Asked Questions (FAQs)
Is the Trezor Wallet the best cryptocurrency wallet?
A Trezor wallet is one of the best crypto wallets available. Aside from having excellent security, it is also reasonably simple to use and offers excellent support and updates.
Although it may appear to be a bit pricey in comparison to other hardware wallets, the services you will receive are well worth it.
What is the best way to tell whether your Trezor has been tampered with?
The seal on a Trezor box safeguard it, and it is also not possible to open the package without breaking it, so you would notice if it had been tampered with right away.
From the comparisons made in this article, it is obvious that the Trezor Model T edges out the Trezor One as it has better features and is a better improvement from the Trezor One.
As such, if you are looking to utilize the new features of the Trezor Model T, buying it would not be a bad idea.
On the other hand, if the Trezor One checks all the boxes for everything you need in a hardware wallet, buying it would be a good decision to make.
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