The Trezor One remains one of the most recognized hardware wallets in the cryptocurrency space since its debut in 2014. Designed for secure storage, sending, and receiving of digital assets, it offers robust security features and a user-friendly interface through its desktop-based Trezor Suite. While not without limitations, the device stands out for privacy-conscious users and those seeking reliable cold storage at an accessible price point.
This review explores the Trezor One’s core functionalities, security model, supported assets, ease of use, and how it compares to competing hardware wallets—providing a comprehensive analysis for both beginners and experienced investors.
Core Features of the Trezor One
🔐 Military-Grade Security with Proven Track Record
At the heart of the Trezor One is its industry-leading security architecture. As one of the first commercially available hardware wallets, it introduced the concept of isolating private keys from internet-connected devices—a standard now adopted across the industry.
The device uses a secure element-free design but compensates with open-source firmware and a tamper-evident package. Each unit ships sealed with anti-tamper stickers, helping users verify supply chain integrity before setup.
It generates a 24-word recovery seed using BIP39 standards—the most secure configuration for deterministic wallets—ensuring that even if the device is lost or damaged, your funds remain recoverable on any compatible wallet.
👉 Discover how top-tier crypto security can protect your long-term investments.
🧩 Multi-Account and Hidden Wallet Support
One of the Trezor One’s standout features is its advanced account management system via Trezor Suite. Users can create multiple accounts per cryptocurrency (e.g., several Bitcoin wallets) and organize them under custom labels like “Savings,” “Trading,” or “Gifts.”
Even more valuable is the ability to create hidden wallets—additional wallets protected by unique PIN codes. These aren’t visible in the main dropdown menu unless accessed with the correct PIN, offering plausible deniability in high-risk situations.
You can "eject" a hidden wallet from view and later restore it by re-entering the PIN—a simple yet powerful privacy tool unmatched by many competitors.
💱 Built-In Exchange & Fiat On-Ramp
Trezor Suite integrates a fiat-to-crypto gateway and a non-custodial exchange aggregator (powered by Invity), allowing users to buy and swap cryptocurrencies directly within the app.
Buying Crypto with Fiat
Supported providers include Simplex, MoonPay, and Mercuryo, enabling purchases via credit/debit card or bank transfer. However, fees range from 1.8% to 5%, which is higher than major exchanges like Binance or OKX.
While convenient for quick buys, frequent users should consider buying crypto on lower-fee platforms and transferring to their Trezor for storage.
Swapping Cryptocurrencies
The built-in exchange lets you trade between supported coins without leaving your wallet. Offers are displayed with estimated completion times and network fees. However, due to wide spreads—up to 10% in some cases—we recommend using established DEXs or centralized exchanges for better rates.
📊 Portfolio Management and Discreet Mode
Trezor Suite doubles as a portfolio tracker, showing real-time valuations in USD and performance over customizable timeframes (1D, 1W, 1M, YTD, or custom). You can monitor balances across all connected accounts with clean, intuitive visuals.
For added discretion, Discreet Mode hides balance amounts while still allowing full transaction functionality—ideal for checking holdings in public spaces without revealing financial details.
Supported Cryptocurrencies
The Trezor One supports over 1,300 cryptocurrencies, though this number is largely inflated by ERC-20 tokens hosted under Ethereum’s wallet interface.
In practice, only around 12 native blockchain assets are natively supported, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Bitcoin Cash (BCH)
Notably missing are major assets like Cardano (ADA), Ripple (XRP), and Tron (TRX)—all of which require the more expensive Trezor Model T.
Some ERC-20 tokens (e.g., Avalanche AVAX) appear as supported but cannot be managed directly in Trezor Suite. Instead, users must connect the device to third-party wallets like MetaMask—introducing potential attack vectors despite private key security.
👉 Access a broader range of altcoins securely with integrated exchange tools.
Pricing and Value Comparison
| Wallet | Price (USD) |
|---|---|
| Trezor Model One | $69 |
| Ledger Nano S Plus | $79 |
| Ellipal Titan Mini | $79 |
| Ledger Nano X | $149 |
| Trezor Model T | $219 |
At $69, the Trezor One is one of the most affordable hardware wallets on the market. It delivers excellent value for users focused on Bitcoin, Ethereum, and Litecoin who prioritize security over broad altcoin support.
However, compared to alternatives like Ledger—which supports more top-tier assets at a similar price—the Trezor One may feel limiting for diversified portfolios.
Setup Process and User Experience
Setting up the Trezor One is straightforward:
- Visit trezor.io/start and download Trezor Suite.
- Connect the device via USB.
- Verify tamper-proof seals.
- Install firmware (one-click process).
- Generate a new wallet or restore from seed.
- Record your 24-word recovery phrase.
- Set a PIN code (with randomized keypad layout).
- Select supported coins.
Despite simplicity, two drawbacks exist:
- No printed setup guide beyond a basic quick-start card.
- Firmware installation requires disconnecting and reconnecting the device—a minor friction point.
Once set up, daily use is intuitive. Transactions require confirmation on the device itself, preventing malware from altering addresses or amounts.
Mobile Compatibility: A Major Limitation
Unlike many modern hardware wallets, Trezor does not offer a dedicated mobile app.
- Android users can access Trezor Suite via browser over USB or OTG cable.
- iOS users have no official support, making mobile management impossible without third-party integrations.
This lack of native mobile functionality puts the Trezor One at a disadvantage compared to Ledger or Ellipal, especially for travelers or active traders needing on-the-go access.
Customer Support and Resources
Trezor provides a comprehensive help center with detailed guides, FAQs, and video tutorials covering everything from setup to troubleshooting connectivity issues.
An AI assistant named Hal helps route queries and submit support tickets. However, average response times hover around three business days, which may be too slow for urgent issues.
There is no live chat or phone support—a downside when immediate assistance is needed.
Frequently Asked Questions (FAQ)
Is the Trezor One still worth buying in 2025?
Yes—for users focused on core cryptocurrencies like BTC, ETH, and LTC. Its proven security, open-source nature, and low price make it a solid entry-level cold wallet. However, those holding ADA, XRP, or TRX should consider upgrading to the Model T or switching to Ledger.
Can I use the Trezor One without a computer?
No. The Trezor One requires connection to a computer running Trezor Suite for setup and most operations. It cannot function standalone or with smartphones natively.
How safe is the 24-word recovery phrase?
Extremely safe—if stored properly. Never store it digitally. Use metal seed vaults or fireproof storage solutions to protect against physical damage or theft.
Why doesn’t Trezor support XRP or ADA?
These assets require complex transaction structures not supported by the Model One’s firmware. They are available only on the Model T due to enhanced processing capabilities.
Are Trezor’s exchange fees justified?
Not usually. While convenient for occasional buys, fees averaging 3–5% are significantly higher than those on platforms like OKX or Binance. For regular trading or large purchases, external exchanges are more cost-effective.
What should I do if I lose my Trezor device?
As long as you have your 24-word recovery seed, you can restore your wallet on any BIP39-compatible device or software wallet. Never share your seed with anyone.
Final Verdict: Who Should Buy the Trezor One?
The Trezor One excels as a budget-friendly, open-source hardware wallet with exceptional security foundations and strong privacy tools like hidden wallets and discreet mode.
It’s best suited for:
- Bitcoin-first investors
- Long-term hodlers
- Privacy-focused users
- Beginners seeking trusted cold storage
But it falls short for:
- Altcoin diversifiers (due to limited native asset support)
- Mobile-first users (no iOS/Android app)
- Active traders (high exchange fees)
For maximum flexibility and lower fees, pairing the Trezor One with a platform like OKX for trading—and then transferring assets to cold storage—offers an optimal balance of convenience and security.
👉 Start building a secure crypto portfolio today with low-fee trading options.
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