Many cryptocurrency investors have chosen to protect their investment with a hardware wallet. These crypto wallets are housed in the form of a physical device that provides offline storage for private keys and digital tokens. One of the most popular hardware wallets on the market today is the Trezor One. A question that people often ask is which coins does Trezor One hardware wallet support?
Before you invest in a hardware wallet for your own cryptocurrency you should know which digital tokens are supported. Here’s a look at the functionality of the Trezor and how it will help you manage your cryptocurrency investment.
About the Trezor One Hardware Wallet
CryptoSwede has provided detailed reviews of many hardware wallets for our readers. For those who may not have read the reviews we’ll provide a brief recap of the Trezor One.
The principle behind the Trezor One and most hardware wallets is improved security. Information that is stored online is vulnerable to theft. That includes private keys that are needed for cryptocurrency wallets. The Trezor allows you to keep your private keys in a small handheld device that can be carried along wherever you go or kept in a safe location in your home. No one can ever access your private keys unless they have access to the device.
The Trezor One features transparent security features, 5-star customer support, and an intuitive interface that provides the ultimate in convenience. Even those with no experience using hardware wallets can figure out the Trezor One in a matter of minutes. The device is about the size of a keyless entry device that you keep on a keychain for your car. It is portable and made of durable material.
Trezor also makes it possible to back up the device in case the hardware is lost. Users are provided with recovery seeds and the process of recovery takes about five minutes. So, there is little need to be concerned if you happen to misplace you device or it becomes damaged.
Digital Tokens Supported by the Trezor One
So now let’s take a look at what this article is all about. The Trezor One supports a total of 1,064 cryptocurrencies. This makes it competitive with other hardware wallets like the Nano Ledger. At the top of the list are the following crypto tokens:
- Bitcoin – the world’s most popular cryptocurrency
- Ethereum – an alternative to Bitcoin preferred by developers of blockchain applications
- Ripple – a token that has good potential thanks to its partnership with various financial institutions
If you are a cryptocurrency investor then you probably one some of the tokens listed above. But what about those hundreds of other altcoins that seem to appear on the market each day? Can you find support for those on the Trezor One?
The answer is yes! In addition to Bitcoin, Ethereum, and Ripple, the Trezor One also supports tokens like Litecoin, Stellar, Tether, and Monero. You will also find support for obscure tokens like Waltonchain and Golem to name just a couple. Pretty much any token that has been launched in the past few years is supported by the Trezor One.
Trezor One Support for More Coins Has Advantages
Let’s talk about the advantages of having support for multiple digital tokens in your Trezor One Hardware wallet. The first one of these is that the Trezor gives you easy access to your tokens in one convenient device.
Owning cryptocurrencies means having a digital wallet to keep them in. Each crypto token has to have its own wallet. You cannot keep Bitcoin in an Ethereum wallet and vice versa. So, if you own many different tokens keeping track of them in online or desktop crypto wallets can be a chore. It becomes far too easy for your tokens to become lost in the shuffle, and you also have to keep track of all those private keys.
With the Trezor One you have immediate access to all of your tokens with a single device that stores your private keys. This means you just take out your device and use it to access any wallet that you desire. You can check the balance in your wallet, send, or receive tokens at your own discretion.
Another reason it is important for a hardware wallet to support multiple tokens is that most cryptocurrency exchanges do not list all of the tokens you will find supported by the Trezor One. Some crypto investors like to use a crypto exchange to keep track of all their tokens in one location. That is fine until you start obtaining some rare tokens that the exchange does not support. For example, many crypto investors still want to buy Dogecoin. Don’t ask us why. If you have an account with Coinbase, one of the most popular crypto exchanges you will see that Dogecoin is no longer supported.
The same can be said for other digital tokens that never matured beyond their initial launch. Even so, many of these cryptocurrencies can be stored on the Trezor One hardware wallet.
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