Trezor Model One
4.0 ⭐⭐⭐⭐
TREZOR MODEL ONE
- Trezor crypto wallets are developed by SatoshiLabs, a Prague-based company founded in 2013.
- The Trezor Model One was the world’s first hardware wallet. SatoshiLabs has since expanded its lineup with premium models like the Trezor Safe 3 and Safe 5, but the Model One remains a cornerstone in the hardware wallet market and an affordable favorite.
- SatoshiLabs is known for its open-source ethos and strong emphasis on user sovereignty and transparency. It joins Ledger as one of the best-known and popular crypto cold wallet providers.
- Security Features: 4.0 ⭐ 85%
- Supported Cryptocurrencies: 3.5 ⭐ 70%
- User Experience (UX): 3.0 ⭐ 60%
- Integration & Compatibility: 4.5 ⭐ 90%
- Backup & Recovery Options: 4.0 ⭐ 80%
- Hardware.
- Non-Custodial.
- Desktop OS: Windows, macOS, Linux
- Mobile Support: Limited. Trezor Model One can be used with third-party apps, but no native mobile connection.
- Browser Compatibility: Via Trezor Bridge or WebUSB. Compatible with Chrome and Firefox
- Software Suite: Trezor Suite (Desktop App)
Trezor Model One
It is essential for crypto holders to secure their digital assets in a reliable crypto wallet. You can choose a hot wallet (online, software) or a cold wallet (offline, hardware). Hot wallets are usually free to use and offer a lot of flexibility, whereas cold wallets offer better security.
While cold wallet prices vary, there are many inexpensive hardware wallets. One of the most popular options is the Trezor Model One, a no-frills hardware wallet trusted by millions and available at an attractive price point.
The Trezor Model One is promoted as “the original hardware wallet,” reflecting its status as the first crypto hardware wallet (released in 2014) and a mainstay in the crypto community for over ten years. How does the Trezor Model One compare to other hardware wallets? Read our review to understand if Trezor Model One is right for you based on factors like security, price, token support, wallet features, and more.
Key Features & Functionalities
Security Features
PIN protection (up to 50 digits), passphrase support, offline operation, on-device transaction verification, open-source firmware. No Secure Element (SE) chip.
Supported Assets
Supports 1000+ assets (BTC, ETH, LTC, DOGE, ERC-20 tokens), but lacks XRP, ADA, SOL, XMR.
User Experience
Minimalist design with two buttons and OLED screen, intuitive setup via Trezor Suite, but feels basic and outdated.
Integration and Compatibility
Compatible with Trezor Suite, MetaMask, MyEtherWallet, Electrum, Exodus, and supports DeFi via MetaMask pairing.
Backup & Recovery Options
24-word (or 12-word) BIP39 seed phrase, passphrase security, compatible with metal backup tools.
Pros and Cons of Trezor Model One
Pros:
Proven Track Record: Over a decade of use in the crypto community with millions of units sold globally.
Affordable Entry Point: One of the most budget-friendly hardware wallets on the market (~£39), ideal for first-time cold wallet users.
Open-Source Firmware: Full transparency allows independent security audits and community trust.
On-Device Security: Every transaction must be physically confirmed on the device, protecting against remote attacks.
Trezor Suite Integration: A full-featured desktop interface for managing coins, staking, and tracking portfolio performance.
Passphrase Protection: Optional extra layer of security allowing hidden wallets for privacy-minded users.
Cons:
No Secure Element Chip: Unlike Ledger devices or the Trezor Safe 3, Model One does not include a dedicated secure element, which may be a drawback for highly security-conscious users.
No Support for Some Major Coins: Lacks native support for some widely-held assets like Cardano (ADA), XRP, Solana (SOL), and Monero (XMR).
Outdated Design: Basic monochromatic screen and two-button input may feel limited compared to modern touchscreen devices like the Ledger Stax or Trezor Safe 5.
Limited Mobile Support: The Model One does not have Bluetooth or native mobile app pairing.
Security Features
Passphrase Support
Optional feature allowing users to create a “hidden wallet” layer using a custom passphrase.
Offline Operation
All private keys are generated and stored on the device itself.
PIN Protection
Every access to the device requires a user-defined PIN with up to 50 digits.
On-Device Transaction Verification
Users must physically confirm each transaction on the device.
Open-Source Firmware
The device runs on transparent and auditable code.
No Secure Element Chip
Unlike Trezor Safe 3 and many Ledger models, the Model One does not include a Secure Element (SE) chip.
Supported Cryptocurrencies
1000+ Assets Supported
Includes major coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), ERC-20 tokens, and many others.
Not Supported
XRP, ADA (Cardano), SOL (Solana), and XMR (Monero) are notably absent.
User Experience (UX)
Setup Process
Intuitive onboarding via Trezor Suite, including seed phrase generation and wallet backup.
Simple Design
Minimalist interface with two physical buttons and a small OLED screen.
Trezor Suite Integration
Full asset management via the Trezor Suite desktop app, allowing you to track balances, send/receive funds, trade crypto, and manage NFTs (limited support).
Integration & Compatibility
Trezor Suite
Offers secure portfolio tracking, trading, staking (via third-party integrations), and transaction history management.
DeFi Support
Possible via MetaMask + Trezor pairing
Third-Party Wallet Compatibility
Works with platforms like MetaMask, MyEtherWallet, Electrum, and Exodus.
Backup & Recovery Options
Seed Phrase Backup
Standard 24-word BIP39 mnemonic phrase generated during setup. The wallet can also support 12-word backups with advanced setup.
Metal Backup Compatibility
Compatible with third-party metal backup tools.
Passphrase Security
Adds a “25th word” to protect your recovery phrase from theft or loss.
Security & Risks Assessment
While Trezor devices themselves have not been directly compromised, in 2022, some users were targeted via a phishing campaign that exploited a third-party newsletter provider. Trezor responded swiftly, issuing public alerts and revamping its communication practices.
Some in the crypto security community point out that the Model One’s absence of a Secure Element (SE) chip theoretically leaves it more vulnerable to physical tampering. However, Trezor argues this is offset by transparency and open-source auditability. Trezor’s premium models have SE chips.
User Protection Measures
Open-Source Verification: All firmware is open-source, allowing the global community to inspect and verify the codebase for vulnerabilities — a level of transparency not always found in competitor devices.
PIN & Wipe Mechanism: After multiple incorrect PIN entries, the device self-wipes to protect user data from brute-force access attempts.
On-Device Confirmation: Transactions must be approved on the device itself, protecting users against malware on their connected computers.
Passphrase & Hidden Wallets: Advanced users can create hidden wallets that are only accessible via a unique passphrase.
Tamper-Evident Packaging: All new devices are sealed and designed to show any attempt at interference during shipping.
User Reviews & Community Feedback
Trustpilot Ratings & Reviews
Trezor’s parent company, SatoshiLabs, holds a mixed score on Trustpilot with 2.5 out of 5. User feedback is split between long-time supporters and occasional complaints about customer service response times. However, these ratings often reflect the broader company experience rather than the Model One device itself.
Reddit & Crypto Community Discussions
On Reddit threads like r/TREZOR, r/CryptoCurrency, and r/CryptoWallets, the Trezor Model One is frequently recommended for its reliability and open-source design. It’s praised as a beginner-friendly wallet, ideal for users who prioritize security without spending much.
Expert Reviews & Endorsements
Crypto and tech reviewers consistently rate the Trezor Model One as one of the best value-for-money cold wallets. Outlets such as Coin Bureau, CryptoSec, and Tom’s Hardware have highlighted the Model One’s robust open-source codebase, solid physical security model, and ease of use.
Pricing & Cost Analysis
Trezor Model One is priced at approximately $49 from retail sellers like Amazon and Best Buy and the official Trezor website.
Users should be aware that they can purchase a variety of other items to support their Trezor wallet, including a protective casing (Model One is a bit flimsy and can be damaged) and metal backups.
| Feature | Trezor Model One | Ledger Nano S Plus | SafePal S1 |
|---|---|---|---|
| Security Features |
PIN up to 50 digits, Recovery Phrase | Secure Element Chip EAL6+, PIN, Recovery phrase. | PIN, Recovery Phrase, Secure Element Chip EAL6+ |
| Supported Cryptos | 1000+ lacks support for major altcoins like SOL and ADA. | 5500+ including BTC, ETH, USDT, SOL | 10,000+ supports tokens from over 200 blockchains. |
| Companion App | Trezor Suite | Ledger Live | SafePal |
| Staking Support | ✓ | ✓ | ✓ |
| Price | $49 | $79 | $49 |
Final Verdict & Recommendations
The Trezor Model One still holds its rightful place in the history of the crypto industry, pioneering cold wallet security and offering an affordable means to safeguard digital assets for millions of crypto holders. Today, it remains one of the cheapest crypto hardware wallets on the market, providing no-frills offline security.
The Model One does have limitations, however, lacking mobile support and a secure element chip. Perhaps most important of all, you cannot store some major altcoins like Solana and XRP on the Model One. Trezor itself recommends upgrading to Trezor Safe 3 for wider token support.
Nonetheless, the Trezor Model One remains a good entry-level cold wallet that’s perfect for budget-conscious crypto holders. Much of its simplicity is by design, providing transparent, open-source security in an easy-to-use budget crypto wallet. If you need more features or advanced security, you can explore Trezor’s wide range of cold wallets, but the Model One is a highly serviceable budget crypto cold wallet. 4 out of 5.
Our Rating
4.0 ⭐
⭐ 4.0 | Trezor Model One
FAQs
Is Trezor Model One the safest cold wallet?
No. There are safer cold wallets available, many offering advanced security features like air-gapped security, bespoke backup solutions, and secure element chips. That said, the Trezor Model One is viewed as a reliable and affordable cold wallet, giving you peace of mind, especially when you employ best practices for keeping your digital assets secure offline.
Can I store multiple cryptocurrencies in this wallet?
Yes. You can store 1000s of tokens, including majors like Bitcoin and Ethereum, and popular memecoins like Pepe and Dogecoin. You can also store major stablecoins, including USDC and USDT. Importantly, the Model One does not support several important altcoins like Solana, Monero and XRP. Other Trezor cold wallets do support these tokens.
How does Trezor Model One compare to Trezor Safe 3?
The Trezor Safe 3 is viewed as an upgrade to the Model One, costing a little more but offering a few more benefits. These include support for a wider range of tokens, including those listed above, and a secure element chip, which is widely viewed as one of the best defenses against both online and offline threats.
Does Trezor Model One support staking and DeFi?
Yes. You can access staking and interact with DeFi platforms through the Trezor Suite app and compatible third-party wallets. However, the experience may feel more limited compared to wallets like Ledger Stax, which integrate these features directly in their apps. You’ll still retain full security over your private keys while participating in web3 services.
How can I recover my wallet if I lose access?
When you first set up your Trezor Model One, you’ll be prompted to generate and write down a recovery seed (either 12 or 24 words). If your device is lost, stolen, or damaged, you can recover your funds on a new Trezor device or any BIP39-compatible wallet by entering this recovery phrase. Always keep your seed stored securely and never share it online.
Additional Resources & References
Visit the Trezor Support Center here.
Find out more about Trezor Expert, the company’s onboarding session, giving you expert advice for setting up and managing your Trezor crypto wallet here. (fees apply).
Revisit the original review of the Trezor wallet (before it became known as the Model One) by Forbes when it launched in 2014. Click here for that review.
Best Security Practices for Crypto Cold Wallets
If you have decided to buy a crypto cold wallet, you will have taken the first step in securing your cryptoassets. However, there are additional steps you can take to ensure your assets are kept safe:
- On receiving your cold wallet, check for any evidence of tampering or damage.
- Only buy your crypto hardware from official sites. Be wary of reselling sites and avoid second-hand cold wallets.
- Use additional security measures – Bluetooth, passphrases, PINs, etc. – provided by your wallet.
- Be careful with your passwords and recovery phrase. Keep the latter stored offline and don’t share it with anyone.
- Educate yourself on broader crypto security risks, including phishing scams and fake airdrops.
- Ensure your device firmware is kept up to date. Don’t connect your hardware wallet to unknown devices or public Wi-Fi hotspots.