Trezor unveils new crypto hardware wallet and seed phrase backup tool

November 16, 2023
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Trezor unveils new crypto hardware wallet and seed phrase backup tool

Cryptocurrency hardware wallet provider Trezor unveiled three new wallet models, including a Bitcoin-only storage and a corrosion-resistant steel product for storing seed phrases, the company announced on Oct. 12.

According to the announcement, the Prague-based firm’s new Safe 3 comes with a “tamper-resistant hardware component providing extra protection against physical attacks if users lose their device” and supports more than 7,000 cryptocurrencies.

Retailing at $79, the new product is available in four colors: solar gold, stellar silver, galactic rose, and cosmic black.

Trezor’s three new products include a Bitcoin-only wallet and a corrosion-resistant stainless steel product for private keys. Source: Trezor

Trezor has also tapped an unnamed third-party secure element vendor to publish potential vulnerabilities, clarifying that the service provider is not fabless chip design subsidiary Tropic Square.

Both Trezor and Tropic Square are part of technology firm SatoshiLabs Group.

“Events over the last year or so have demonstrated the risks people are taking when they entrust the custody of their cryptocurrencies to centralized exchanges. Time and again, we’ve seen the reality of ‘not your keys, not your coins’ play out,” Trezor CEO Matěj Žák said in explaining the release of their new product lineup. “We’ve introduced some compelling new devices that enable crypto novices and newcomers to enjoy the security and peace of mind that comes with owning and safeguarding their own crypto.”

In addition to Trezor Safe 3, the company released a recovery phrase storage product called Keep Metal. The tool, which can be used for both 12-word and 24-word backups, is made from corrosion-resistant stainless steel with a watertight seal, allowing users to keep their recovery safe against fire, water, acids, and impacts.

The standard backup tool is available for $99. Meanwhile, the Trezor Keep Metal catering for three 20-word Shamir backups sells for $249.

Trezor also released a limited edition Bitcoin-only hardware wallet to celebrate its 10th anniversary, with only 2,013 units available. The company said it will donate $21 to support its Bitcoin education initiative, Trezor Academy, for each sale of its exclusive $79 product.

Crypto hardware wallets have been the go-to solution for investors in a space riddled with exploits and scams. For instance, some crypto cold storage providers gained profits when concerns over centralized exchanges grew following the collapse of FTX in November. Trezor reportedly recorded a 300% surge in week-on-week sales revenue, while its rival Ledger reported an increase in demand for its products as well.

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