You had just bought your new Trezor Model T device, and now, you are ready to start storing your cryptocurrency assets like Bitcoin (BTC), Ethereum (ETH) and others.
This article will guide you step-by-step on setting up your Trezor hardware wallet by creating a brand new wallet using the Trezor Suite.
- What’s inside the Trezor Model T box?
- How to set up the Trezor Model T hardware wallet?
- Step 1. Install the Trezor Suite application
- Step 2. Connect the Trezor device to your Computer
- Step 3. Install the latest firmware
- Step 4. Create a new wallet
- Step 5. Choose a Wallet backup method
- Step 6. Begin your backup
- Step 7. Write down your Recovery seed
- Step 8. Confirm the order of words
- Step 9. Create a PIN
- Does the Trezor wallet require any battery to operate?
- How does Trezor wallet handle private data?
- How to take proper care of the Trezor hardware wallet device?
- How many coins and tokens does Trezor support?
- What if you lose your Trezor recovery seed?
- How to properly store and keep your Trezor recovery seed?
What’s inside the Trezor Model T box?
The complete list of things is;
- 1 x Trezor Model T device
- 1 x USB Cable (USB-B to USB-C)
- 2 x Recovery Seed cards
- 4 x Trezor Stickers
- 1 x Magnetic dock for Trezor Model T
- 1 x Getting Started guide
How to set up the Trezor Model T hardware wallet?
The Trezor hardware wallet is an offline (cold) wallet that is very secure by design. It uses the Trezor Suite application to interact with the device.
Below are the nine (9) steps you will take to set up your new Trezor wallet.
Step 1. Install the Trezor Suite application
Your Trezor device needs a software wallet application called Trezor Suite to provide you with the interface to perform all of its functionalities, including setting up a new wallet and sending, receiving and storing cryptocurrencies.
Step 2. Connect the Trezor device to your Computer
Always use a trusted computer. Do not connect your Trezor device to someone else or a public computer.
Use the provided USB cable (USB-B to USB-C) to connect your Trezor device to your computer. Then, open the Trezor Suite application, and your Trezor device will be automatically detected.
As your brand new or newly formatted Trezor device has no firmware, Trezor Suite will label it as an “incorrect state”. This is normal.
Now you need to install the latest firmware on it. To do so, click on the <Begin setup> button.
Step 3. Install the latest firmware
All brand new Trezor devices come WITHOUT firmware installed. This security feature prevents man-in-the-middle attacks and ensures that all Trezor users have the latest firmware since they must do it themselves, regardless of when they use the device.
Click <Install firmware>.
If Trezor Suite detected firmware installed on your brand new Trezor device, please stop using it and contact Trezor Support immediately.
Step 4. Create a new wallet
Choose <Create new wallet> when you do not wish to import any previous Trezor wallets, and this is your first time using a Trezor device.
If you want to restore an old Trezor wallet using a recovery seed, choose <Recover wallet>.
For this article, we will choose <Create new wallet>.
Step 5. Choose a Wallet backup method
Choose your wallet backup method. Trezor offers two (2) types: the Standard seed backup and the Shamir share backup.
Select the <Standard seed backup>.
Confirm your decision to create a new wallet by pressing the green tick button on the screen of your Trezor device.
Step 6. Begin your backup
Click <Create backup> and <Begin backup> to proceed with the backup procedure.
Confirm by pressing <I understand> on the screen of your Trezor device.
Step 7. Write down your Recovery seed
In the event of loss, theft or damage to your Trezor device, your recovery seed can be used to restore your entire wallet. Therefore a recovery seed is the backup of your wallet.
Your 12-word recovery seed will be shown to you on the screen of your Trezor device. Swipe upwards to scroll through all the words.
The numbering order is essential and unique to its corresponding word. Write them down on the Recovery Seed card provided in the box.
Please do not attempt to take digital photos of the recovery seed or store them via digital means, such as using a note app or typing into a Word document.
Press <Hold to confirm> on your Trezor device to acknowledge that you have stored them safely.
Step 8. Confirm the order of words
Next, you will be asked to verify three (3) numbering orders and provide the correct answer to each seed word. For example, the Trezor device may ask you what the word in the number 4 is.
If you had written down all the recovery seed words properly, you should not have any problem here. After this is done, click <Continue>.
Step 9. Create a PIN
You will choose to lock your Trezor device with a PIN code. This step is optional but strongly recommended. Click <Continue to PIN>.
Using a strong PIN protects your Trezor from unauthorized physical access. This is similar to the PIN code we use on our mobile phones. The longer the PIN, the stronger the security is.
You will set your PIN on the physical Trezor device. Trezor allows up to 50 digits long for the PIN.
Confirm your PIN twice on the device and click <Continue>.
Install the cryptocurrency wallets that you want to see on your Trezor Suite interface and click <Complete setup>.
You can always do the wallet installation at a later stage.
Here you can give your Trezor device a name and change the home screen. These are optional.
Click <Access Suite>.
Now you are done, and you can start using your new Trezor wallet.
Does the Trezor wallet require any battery to operate?
The Trezor hardware wallet does not need any battery since it draws power through its USB connection. The power is taken from the computer that it is connected to.
How does Trezor wallet handle private data?
All private data are stored in persistent memory inside the Trezor hardware wallet. Therefore, these data will not be erased even if you do not use the device for an extended period.
How to take proper care of the Trezor hardware wallet device?
Do not expose it to extreme temperatures, fire, water, sand, vapours or chemicals. Trezor device is not waterproof and not unbreakable.
How many coins and tokens does Trezor support?
Trezor supports more than 1800+ coins and tokens. The list of supported currencies and tokens is constantly increasing. For the most up-to-date list, please refer to the official Trezor website to see the most current complete listing.
What if you lose your Trezor recovery seed?
The recovery seed is a backup of the entire Trezor device.
You do not need your recovery seed during normal circumstances when you still have your physical Trezor device.
However, in case of damage, loss or theft of your physical Trezor device, you will need your recovery seed to recover your crypto funds. This restoration process can be done on any brand new Trezor device as long as you provide it with the correct recovery seed.
How to properly store and keep your Trezor recovery seed?
- Keep your recovery seed from prying eyes, preferably under lock and key, e.g. in a safe or secured cabinet.
- Never make a digital copy of your recovery seed.
- Never upload a digital copy to online services, e.g. Google Photos or Dropbox.
- Do not disclose your recovery seed to anyone.
- Trezor Support will never request your recovery seed.
An optional feature of the Trezor device allows for creating a passphrase. This will enable users to create hidden wallets. This is extra protection against physical attacks on your physical device.
The steps to create a new wallet are pretty straightforward. Just follow the instructions from both the Trezor Suite and the Trezor device.