Trezor

Trezor has made five devices in twelve years, and the split that matters is between the two generations. The Model One (first 1,000 units shipped in 2014) and the touchscreen Model T (shipping from 2018) keep the seed in the main microcontroller's flash with no secure element. The Safe series adds one. The Model One and Model T are no longer on Trezor's comparison page but still receive firmware and appear on its coin-support list.

Each Safe model is sold in a universal and a Bitcoin-only version. The Safe 7 is also the first Trezor with Bluetooth and a battery; it charges over Qi2 wirelessly, has an aluminium body and is rated IP54 against dust and splashes. Trezor's pitch for it is "quantum-ready": the firmware and chip are designed to take post-quantum signature schemes by update when Bitcoin adopts one.

If you own a Model One or Model T, it still works and still gets updates, and there is no remote attack on record against either. The case for replacing it is physical theft. Without a secure element, the seed sits in ordinary microcontroller memory that has been read out in lab conditions, so a stolen device is a stolen seed unless you set a passphrase. Moving to a Safe model means creating a new wallet on the new device and sending the coins across, not restoring the old seed onto it, if the concern is that the old device may already have been copied.

Our scored review covers the Safe 5: Trezor Safe 5 review.

On the record so far, no Trezor owner has lost coins to a remote attack on the device. The published weaknesses are physical: with a Model One or Model T in hand, specialist equipment and time, researchers have shown the seed can be read out of the chip's memory. That is the reason the Safe series exists, and the reason a passphrase (a 25th word that is never stored on the device) is the standard advice for anyone still using the older models.

Against Ledger the difference is less about strength than about who you have to trust. Both now use certified secure elements. Trezor publishes its firmware and supports reproducible builds, so anyone can compile the source and compare the result with what the device runs. Ledger's operating system is closed. The Safe 7 goes further: its TROPIC01 chip comes from Tropic Square, a SatoshiLabs sister company, and its design is published for inspection, which conventional secure elements under NDA do not allow. A second chip, Infineon's OPTIGA Trust M, is there so that a flaw in either one alone is not enough.

• PIN attempts are limited in hardware on the Safe series; on the Safe 7 both chips keep separate counters.
• Seed backup is a standard word list (12, 20 or 24 words; Shamir multi-share backup is supported), so a lost device is replaced, not recovered from Trezor.
• Trezor's own customer data leaked once, in January 2024, through its support-ticket provider (see incidents below).

In practice most Trezor owners who lose coins lose them the way Ledger owners do: by typing the recovery words into something that asked. The January 2024 support-portal leak gave phishers a list of people who had contacted Trezor, and Trezor confirmed at least 41 phishing messages sent to them asking for seeds. Trezor's defence here is procedural: the device is the only place a recovery phrase is ever entered, and support never asks for it.

For the scored comparison, see the hardware wallet ratings.

Trezor Suite is the companion app for setting up a device, updating firmware and sending coins. It runs on Windows, macOS and Linux, in a browser, and on mobile. Buying and selling inside Suite is provided through Invity, another SatoshiLabs company, which is among the first firms licensed by the Czech National Bank under the EU's MiCA rules.

Suite is not the only way in. Trezor devices also sign for third-party wallets such as MetaMask, Rabby, Sparrow and Electrum, and many coins are only usable that way. Trezor's coin list marks each asset as supported in Suite, in third-party wallets, or both.

Download Suite only from trezor.io. Fake Trezor apps and fake "support" contacts ask for the recovery words; Trezor itself never does.

Bitcoin, Ethereum and EVM tokens work on every Trezor model. Some chains are limited to newer hardware: on Trezor's own list, XRP, Solana and Cardano are marked "some models", because the Model One lacks the memory or firmware support. Several of the coins people ask about most are handled through third-party wallets rather than Suite. "Supported" on Trezor's list means the device can sign for the asset; it does not mean every network or token standard on that chain works, which is why the list counts networks per coin (44 for ETH, 11 for USDT at the time we checked).

Support changes with firmware releases, so check trezor.io/coins for the current state before sending an asset to a Trezor address.

Trezor is the oldest business in the SatoshiLabs group. Marek Palatinus, who had earlier built Slush Pool (the first public bitcoin mining pool, now Braiins), met Pavol Rusnák at the Prague hackerspace brmlab in 2011; with Alena Vránová they incorporated SatoshiLabs and funded the first Trezor through pre-orders. The group now includes Tropic Square (secure-element chips), Invity (buying and selling bitcoin) and Vexl (a peer-to-peer bitcoin trading app without KYC).

Tropic Square matters to Trezor buyers because it is how Trezor got an auditable secure element instead of licensing a closed one. Its founding CEO Jan Pleskač stepped down in May 2026 after TROPIC01 reached volume production; SatoshiLabs COO Ladislav Veselý took over on an interim basis.

The group reports more than 250 staff and more than 2 million customers and users. It is privately held.