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Our impressions

KeepKey

Trezor Model One

Pros

Has a great community and (d)app ecosystem

Small form factor and very portable
Excellent value at an affordable price point

Cons

Outdated microUSB port
Needs constant USB connection

MicroUSB in this day and age is quite outdated, but still connects to USB-A or newer USB-C ports
Requires constant USB connection to operate
Limitations compared to Trezor Model T
- Supports fewer coins and misses support for e.g.: XRP, ADA (Cardano), XMR (Monero)
- Button input can be cumbersome compared to the touchscreen of the Model T
Key extraction vulnerability (if an attacker with the right tools and knowledge has physical access to the hardware wallet)

Verdict

The product has a nice build quality and finish, a solid (d)app ecosystem, and a great community. The product launched in 2015 and it shows its age, compared to newer hardware wallet products. Most notably it has no secure element, a microUSB port, and limits itself to a single button for on-device input.

That being said, we would still prefer it over any software wallet, though.

Despite being the very first hardware wallet product, with it’s debut in 2014, the Trezor Model One is still one of the best hardware wallets. It has a very attractive price point, while providing excellent value and functionality.

Make sure to use a passphrase if you are worried about key extraction attacks. Read more about the vulnerability

Disclaimer: Our impressions are based on a compilation of factors tailored to the average user’s perspective. It is also important to note that whether a feature is a “pro” or “con” can depend on your situation and preferences. What may be an advantage in one scenario could be a challenge in another, and vice versa. Therefore, while reviewing these points, it’s essential to consider your unique requirements and circumstances when making decisions. This list aims to provide an idea of what to anticipate, but it is not the ultimate guide to determining whether something will work for you or not.

Key features

KeepKey

Trezor Model One

Release year

2015

2014

Supported coins

Supports multiple coins

Supports 7.000+ assets on 340+ blockchains

Supports multiple coins, Bitcoin-only mode available

BTC, ETH, LTC, XLM , DOGE, DASH, ZEC, NEM,
and a thousand others. See a full list at trezor.io/coins

Open source

Firmware
Companion software

Firmware
Companion software

Seedphrase support

BIP-39 (Mnemonic phrase)
Passphrase

BIP-39 (Mnemonic phrase)
Passphrase

Security protections

On device PIN entry

after 3 wrong PIN entries an increasing timeout is applied for each wrong PIN (we stopped testing at 256 seconds around wrong PIN #8 or so)

On device PIN entry
Factory reset with wrong PIN
Factory reset with decoy PIN
On device recovery

Platform compatibility

Windows
macOS
Linux
Android

on Linux make sure to add udev rules

Windows
macOS
Linux
Android
ChromeOS

Chrome OS is not officially supported and relies on WebUSB in the Chrome browser. This means that, i.e., it’s not possible to set up a freshly unboxed Trezor One, you need to perform the first-time firmware installation on a PC or Mac.

Authentication token