Desktop & Web Crypto Management, Trezor Suite
Trezor Suite is an ecosystem of tools for security and privacy, a complete solution for managing cryptocurrencies. As the primary interface for using the Trezor hardware wallet, it contains everything needed to use crypto safely. Trezor Suite works with both the Trezor Model One and Trezor Model T hardware wallets.
Trezor Suite lets users access and use their Bitcoin and other cryptocurrencies at home or on the go. The desktop application offers the strongest protection from attacks, while a mobile-friendly web wallet lets everyone stay safe no matter where they use their device. A native mobile application is currently under development and will be released in 2021.
Features of Trezor Suite
Trezor Suite includes many exclusive features that let users get the most out of cryptocurrencies. Everyone, from Bitcoin beginners to experts, is able to intuitively use common and advanced functions directly from the Suite interface or Trezor control line.Trezor also partners with leading security and cryptocurrency service providers to offer customers the best from the crypto ecosystem.
Send and receive cryptocurrencies
The Trezor accounts tab lets users perform and manage payments for individual cryptocurrencies.
To send a transaction, users simply choose the account they wish to send from, enter a valid Bitcoin address and choose a fee. Trezor Suite will recommend optimal fees based on current network conditions and the urgency of the transaction.
To make it easier to send Bitcoin transactions, Suite supports all common address types,including Bech32 (Native SegWit), so Trezor users can enjoy compatibility between their hardware wallet and hot wallets such as exchanges.
Advanced transactions
As a truly all-in-one Bitcoin wallet, Trezor devices can be used for many advanced functions that a regular user does not usually need, but which have been made easy in Trezor Suite to benefit more advanced users.
Timelock
Users can choose to sign a transaction but delay when it will be broadcast. This is done by setting a custom block height at which it will be broadcast. By doing this, the user can sign transactions offline and broadcast them at a time and location, or network, that suits their privacy needs.
Batch upload of transaction data
For users who use their wallets a lot, it can be difficult to aggregate all transactions in oneplace. Using Trezor Suite, transaction data can be uploaded in bulk, to help with invoicing, payments and reporting, a must-have for Bitcoin businesses.
Simple backup and restore
Trezor Suite lets the user backup their Trezor device by telling it to generate what’s known as a recovery seed. It does not show the seed in Suite but on the device screen, to ensure itis never in contact with a network. The seed is a sequence of words which users keep written down somewhere in physical form. Suite directs users through the backup and recovery process step-by-step, so they can safely and easily recover their wallet when needed.
Advanced backup
Using a Trezor Model T, users are able to use a more comprehensive backup system that lessens the risk of losing a recovery seed. Shamir backup lets users create a combination of seeds to restore their wallet, meaning they can store copies in different places or with different people and not worry about them gaining access to their accounts. This also lets people set upan inheritance plan for their bitcoins. Clicking on the advanced backup option when they setup their device will create Shamir shares.
Discreet mode
To stop anyone from seeing user balances, they can toggle on discreet mode, which obscures all sensitive data within the app. In discreet mode, hovering a mouse over any masked data lets users quickly and safely peek at their balances, addresses or other info.
Security
Trezor hardware wallets provides security for users’ coins with any interface they use. This is enhanced by Trezor Suite, which incorporates security tools that mitigate chances of being attacked. Suite uses the Trezor hardware wallet to confirm any sensitive action, such as sending funds or making changes to settings.
Advanced transactions
As a truly all-in-one Bitcoin wallet, Trezor devices can be used for many advanced functions that a regular user does not usually need, but which have been made easy in Trezor Suite to benefit more advanced users.
PIN and Passphrase
The most effective way to store Bitcoin is with a hardware wallet that has both a PIN anda Passphrase enabled.
PIN
The PIN stops anyone from using the wallet if they come across it, if they lose it or if it is stolen.If users do not set a PIN for their device, the wallet offers little protection and users risk losing their funds. Trezor devices both use scrambled keypads to make it harder for an observer toread the PIN. It is good practice to regularly change the PIN, and users can find a reset PIN button in Suite settings.
Passphrase
Trezor Suite uses a passphrase of the user’s choosing to encrypt the private key stored on the device. This stops anyone from physically hacking the chip to extract the seed. A passphrase should be something easily remembered but not copied from somewhere else. A pair of unrelated words, with some letters modified by characters, is one of many examples to use.
The Trezor Suite ecosystem
Desktop Software Interface
One of the primary reasons Trezor Suite was created was to provide Trezor wallet users with a desktop application which let them easily manage their bitcoin without relying on their webbrowser. This mitigates some common attacks, such as spoofed URLs and other kinds of phishing, which are one of the biggest threats to cryptocurrency users.
Web and Mobile Interfaces
The Trezor Suite web interface is convenient for when users need to access Trezor Suite from a new device or on their mobile phone. The web wallet offers all the same features as Suite but can leave the user more vulnerable due to its dependence on the browser.
Tor Switch
Working closely with the Tor Foundation, the Tor Switch is included in Suite to offer an easyway to route Trezor Suite network communications more anonymously. Using the Tor switch,users can toggle between the Tor onion network, to mask identifying information, and their regular unmasked network.
Invity
Invity is a company owned by SatoshiLabs Group, which lets users buy and exchange Bitcoin and other cryptocurrencies at competitive prices through Trezor Suite. Invity compares rates of exchange for the chosen currency pair and shows users custom offers, based on their location and preferred payment method. When buying a cryptocurrency, users complete purchases directly through the provider’s portal.
Blockbook
Trezor Suite connects to SatoshiLabs’ open-source backend, Blockbook, which also serves a blockchain explorer. Users can choose to use SatoshiLabs’ backend or connect to their own node. Blockbook can also be used by anyone to run their own backend.
Download Trezor Suite
Visit the Trezor Suite landing page and download the version that runs on your operating system. The desktop version of Trezor Suite is available for MacOS, Windows 8 and up, aswell as Linux x86 and ARM.
Trezor Suite is also available through a browser at https://suite.trezor.io/web/. Using the desktop version is recommended to reduce exposure to phishing websites.
Onboarding
Open Trezor Suite and connect your device. The onboarding wizard will take you through a security check before proceeding with setup. This involves a few questions about the history of your Trezor and checks for pre-installed firmware. If the device is new and firmware is detected, this is a big red flag and you should return your device. If the device is empty, it is safe to proceed.
Generating a recovery seed
A recovery seed is a list of 12, 18 or 24 words, which is used as a secure but human-readable way to generate the keys, accounts and addresses that you access through your Trezor. The Trezor Model One uses 24 words by default while the Model T uses 12. These can be considered equally secure as although 12 words provide 128 bits of entropy while 24 provide 256, Bitcoin’s secp256k1 elliptic curve only amounts to security of around half of the 256 bits used.
The most important thing Trezor does for your security is to generate the seed completely offline. Statistically, your seed is practically impossible to guess as it is essentially anumber that has never existed in the history of the universe. If it is exposed to a network or copied into any digital form, it is no longer a unique number.
Write down your seed when it is generated. This physical copy lets you recover your keys if your device ever fails, is stolen, or you lose access to it.
Generating a shamir backup
Instead of a regular one-list recovery seed, there is an Advanced backup option. This is Shamir backup, a way to create multiple shares of 20 words, which then need to be combined to restore the wallet. There is a threshold of redundancy that lets you restore a wallet even if you lose one or more share, depending on the number of shares you generate. Requiring 2-of-3 or 3-of-5 shares is common, but it is highly customisable.
Each share can be held in different places or with different people, to suit individual needs. This backup method is a very effective way to protect against loss of your shares,and it also allows you to securely pass on your keys in your will for inheritance.
Setting a PIN
The PIN is a security feature intended to keep your device secure while in use. Trezor wallets use a randomized keypad generator to input your PIN, helping obscure it from any onlookers. PIN entry for the Model T is performed on the device, while the Model One uses a numberless grid pattern on the host machine for secure PIN entry.
Passphrase
Using a passphrase is a good idea for a variety of reasons: it allows the creation of ‘decoy’wallets and prevents sophisticated physical attacks on the device. Passphrases can take many forms, and it is important to understand what makes a good passphrase. There is no such thing as an incorrect passphrase, any phrase will create a wallet: make it easy to remember but randomised - not something found in a book or online.
Trezor Suite
As the main software interface for Trezor hardware wallets, Trezor Suite is a new desktop and browser application aimed at giving the best user experience while ensuring privacy and security when using cryptocurrencies.
Trezor Suite can be downloaded from suite.trezor.io.
For new users, Suite offers a full on-boarding, which highlights the importance of storing your seed phrase and helps get you set up with a passphrase and PIN. Some additional advice on storing your seed can be found on Trezor blog.
The Trezor Suite interface makes it straightforward to organise different addresses,wallets and cryptocurrencies. Labelling and smart search functions make it easy to organise payments for accounting purposes.
Our fee calculator will make sure your payment arrives when you need it to, while also warning you if the fee is unnecessarily high. In addition, fees can be set low to begin with then increased using the replace-by-fee (RBF) toggle. Transactions can also be delayed by using the locktime feature.
For privacy, particularly notable features include the Tor switch, which reroutes your connections for greater anonymity, and discreet mode, which will blur sensitive data,showing only the data under your cursor.
Using Trezor Suite
Trezor Suite is designed to make it easy to use your hardware wallet in any scenario.It’s the one place you need to go to create and receive transactions, change network parameters and customize your experience.
Core functions
The core requirements of any crypto wallets are to be able to securely send and receive transactions. Many wallets do not give you control over essential parameters such as fees,while Trezor Suite lets you easily customize fees as needed, or use estimates based on how busy the network is.
Send and receive cryptocurrency transactions
Before the Trezor hardware wallet was created, it was hard to be sure you were sending and receiving cryptocurrency transactions securely. Trezor Suite enhances the experience of using a Trezor hardware wallet by natively supplying all sorts of tools and configurations that make it easy to participate in Bitcoin.
Address management
Sending cryptocurrency from Trezor Suite is as easy as going to the Send tab, entering a destination address, picking a fee and confirming it on your Trezor. Trezor supports common Bitcoin address types interchangeably, including bech32 addresses which can help reduce fees. Read more about Bitcoin addresses and how to use them on Trezor blog.
Fees can be chosen according to the time it will take the transaction to confirm,calculated from network averages, but they can also be set manually.
To be able to receive money to your Trezor, you’ll need to create a receiving add ress from the Receive tab. Keeping your addresses fresh is good for your privacy as it makes it harder to track your transactions, so reveal a new receiving address each time you use your wallet. Suite will always ask you to use your Trezor to confirm the revealed address,to make sure that both addresses match.
Replace by fee (RBF) for Bitcoin and Ethereum
Replace by fee is a useful feature of some cryptocurrencies that lets the user increase the fee paid for a transaction even if the transaction has been broadcast. This is useful for users who like to be conservative with their fees, giving them the opportunity to wait for alow fee transaction to confirm and increase the fee if it doesn’t confirm in time.
Locktime
Locktime is a great feature for anyone who wants to sign a Bitcoin transaction while connected to one computer and broadcast it from another. This can improve privacy,especially if the broadcast is made from a public network free from cameras.
To use locktime, simply specify the block height you wish to broadcast the transaction at.If the current block height is 675784, simply add one block per ten minutes you would like to wait, e.g. roughly one hour from block 675784, miners should find block 675790. Bea in mind that blocks are not always mined within ten minutes, so it is difficult to specify a precise time.
Unix timestamps can also be used. Any locktime set above 500,000,000 will automatically be interpreted as a UTC time and date after which the transaction will be allowed to broadcast.
Messages using OP_Return
There are different ways to add messages to the Bitcoin blockchain. Using OP_Return is the easiest way, but a penalty applies to avoid people overusing it and congesting the network: any bitcoin sent with the message will be unspendable once the message has been confirmed. Read more about encoding messages on the blockchain.
Labeling
People who use their wallet often need a way to identify transactions in a human-readable way. Trezor Suite lets you label incoming and outgoing transactions for later
reference, as well as naming your devices and individual accounts.
With the ability to export transactions in a number of formats, labelling is a huge help when it comes to accounting, serving an indispensable role for any frequent user or crypto business.
Buy and exchange
When building Trezor Suite, SatoshiLabs founded Invity, a new company focused on letting users compare exchanges and purchase coins directly to their secure wallet.Thanks to Invity, Trezor users can now buy, exchange, sell or spend crypto directly from their Trezor, without needing to trust the exchange with their coins at any point.
To buy crypto using Invity, simply visit the Trade tab in Suite, and choose to buy.Offers are matched based on your region, showing the exchange rate you will receive depending on the payment type you choose.
Exchanging crypto is equally simple. Simply choose a coin to exchange from and the desired coin to receive, then pick the option that suits you best.
Rather than cashing out, Trezor Suite users can also instead spend their crypto on giftcards for use at one of the thousands of retailers available through BitRefill’s gift card service.
Selling bitcoin for fiat currency is also possible. Users can use Invity to easily cash out for fiat currency, finding the best rate for their holdings in the same manner as when buying and exchanging.
Exchanging crypto is equally simple. Simply choose a coin to exchange from and the desired coin to receive, then pick the option that suits you best.
Rather than cashing out, Trezor Suite users can also instead spend their crypto on gift cards for use at one of the thousands of retailers available through BitRefill’s gift card service.'
Selling bitcoin for fiat currency is also possible. Users can use Invity to easily cash out for fiat currency, finding the best rate for their holdings in the same manner as when buying and exchanging.
Privacy tools
Cryptocurrencies restore much-needed discretion when dealing with your financial affairs.While they are often thought to be anonymous, they are merely pseudonymous: if a connection is made between your identity and a transaction, the rest of your transactions can usually be tracked down.
To isolate and protect your identity while you use cryptocurrencies, Trezor Suite comes packaged with some indispensable privacy tools, made easy for non-technical users.
To stop anyone from observing your screen as you use your wallet, Trezor Suite has a discreet mode which blurs out all sensitive data. You can peek at a figure by hovering your mouse over it, making it easy to avoid onlookers.
The Tor Switch is one of Suite’s most useful integrations for privacy. By routing all of your Trezor Suite activity over the Tor network, it becomes almost impossible to track your network activity.
Users will soon also be able to connect directly to their own node rather than synchronizing with Trezor’s open source blockchain explorer, Blockbook. While SatoshiLabs do not keep records of Blockbook usage, this will help ensure full independence for our power users.
Another important privacy feature we are working on is CoinJoin, which combines many transactions from different users into one big transaction with many outputs, so it is almost impossible to tell who is paying whom transaction.
Compare Trezor Hardware Wallets: Advanced Crypto Security
