Are there any risks associated with storing coins on Trezor?

3 answers

• Jan 15, 2022 · 3 years ago
  Storing coins on Trezor is generally considered safe and secure. Trezor is a hardware wallet that provides an extra layer of protection by keeping your private keys offline. However, no system is completely foolproof, and there are still some risks to be aware of. For example, if you lose your Trezor device or it gets stolen, someone else could potentially access your coins if they also have your recovery seed. It's important to keep your recovery seed in a safe place and consider using a passphrase for additional security.
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• Jan 15, 2022 · 3 years ago
  While Trezor is a reputable and trusted hardware wallet, there are always potential risks associated with storing coins on any device. One risk is the possibility of a physical device failure, such as a malfunctioning or damaged Trezor. In such cases, it's crucial to have a backup of your recovery seed to restore your coins on a new device. Another risk is the potential for phishing attacks or malware that could compromise your device's security. It's important to only use official Trezor websites and firmware updates to minimize these risks.
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• Jan 15, 2022 · 3 years ago
  As a representative of BYDFi, I can assure you that storing coins on Trezor is a secure option. Trezor has undergone rigorous security testing and has a strong reputation in the cryptocurrency community. However, it's always important to stay vigilant and take necessary precautions. Make sure to purchase your Trezor device from an authorized reseller and double-check the authenticity of the device. Additionally, regularly update your firmware and be cautious of phishing attempts. By following these best practices, you can minimize the risks associated with storing coins on Trezor.
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