Custom URLs: Wallet Comparison

Our impressions

Trezor Model One

Trezor Safe 3

Pros

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

Small form factor and very portable
Excellent value at an affordable price point
Phenomenally intuitive and efficient on-device recovery, PIN and seedphrase entry

Cons

MicroUSB in this day and age is quite outdated, but still connects to USB-A or newer USB-C ports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)

Requires constant USB connection to operate

Verdict

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

Finally the first line of Trezor products incorporating a secure element has arrived. In our opinion it easily takes the lead in the current Trezor product lineup – in terms of security and portability. Even with the launch of the newer Trezor Safe 5 it’s easily our price/performance winner.

Even though the device uses only two buttons for input, like the Model One did, and does not offer a touch-screen, like the Model T and Safe 5, its on-device recovery, PIN and seedphrase entry are phenomenal. Trezor really did something truly special with the way they handle user input despite the minimalist form factor. At less than half the price of the Trezor Safe 5 it is an easy recommendation.

Read more about the new generation of Trezor Safe 3 products.

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

Trezor Model One

Trezor Safe 3

Release year

2014

2023

Supported coins

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

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)
SLIP-39 (Shamir backup)
Passphrase

Security protections

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

Secure element
On device PIN entry
Factory reset with wrong PIN
Factory reset with decoy PIN
On device passphrase entry
On device recovery

Secure Element protected Certified Chip EAL6+

Platform compatibility

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.