Trezor Safe 3: Key Features of the Hardware Wallet

Trezor Safe 3 Model

Trezor, the Czech company that created physical Bitcoin wallets, announced this October 12 the launch of Trezor Safe 3, a cryptocurrency safekeeping device that finally integrates a Secure Element (Secure Element), a security chip against physical attacks that for years has been integrated into products from competitors such as Ledger or Coldcard.

Trezor, the Czech company that created physical Bitcoin wallets, announced this October 12 the launch of Trezor Safe 3, a cryptocurrency safekeeping device that finally integrates a Secure Element, a security chip against physical attacks that for years has been integrated into products from competitors such as Ledger or Coldcard.

Trezor Safe 3 delegates security

Trezor Safe 3, the new wallet from the company founded by the creator of the Slush Pool mining pool, catches up with the state of the art in terms of physical security hardware wallets, integrating a Secure Element. However, it is not the Secure Element that users were waiting for.

According to the Kaspersky Encyclopedia, “a Secure Element is a chip protected by design from unauthorized access, used to run a limited set of applications, as well as to store cryptographic and confidential data.

It is in this chip where the private keys that allow wallet transactions to be signed are stored. By having the private keys isolated in this chip, the device is more resistant against brute force attacks, although these types of attacks require techniques and tools advanced (high-precision lasers, electromagnetic injection, among others) and, therefore, the physical presence of the attacker.

However, many users expected that the Safe Element that Trezor would integrate into their new device would be the one developed by the subsidiary company, Tropic Square, who since December 2022 was developing an open-source Secure Element for Trezor wallets. This was not the case.

The Safe Element chosen by Trezor for its Safe 3 was the Optiga Trust M, one of the main criticisms against the French manufacturer’s devices. it is closed source created by the semiconductor company Infineon. Trezor chose this chip because it has a higher EAL6+ security certification than competitors, and because it allows them to share vulnerabilities they find openly, unlike what happens with the Secure Element used by Ledger, which, In addition to the Secure Element, the wallet implements another level of security with the integration of passphrase, a phrase similar to a password entered by the user to make it more difficult for third parties to access the funds. It also allows the use of PIN to make access to the device more personal. Unlike the Trezor Model T, the Safe 3 only allows a 12-word recovery seed, although this can be divided into several parts with the Shamir backup.

Pros and Cons of Trezor Safe 3

Let’s break down its features to give you a clear understanding of what it offers.

ProsCons
 Secure Element Protection Relatively Higher Price
 Open-Source Design Pre-Order and Shipping Delays
 Device-Entry Passphrase✗ No Wireless Connectivity
 Multiple Backup Options✗ Complexity: The range of features and backup options might be overwhelming for crypto beginners
 Privacy Features
 Large Coin Support
 Two-Factor Authentication & FIDO2
 Compact & Stylish Design
 Product Safety & Certifications

Key Features of Trezor Safe 3

When it comes to securing your digital wealth, Trezor Safe 3 doesn’t cut corners. It’s fortified with a range of features that set it apart.

Cutting-Edge Security Features

Now, what makes the Trezor Safe 3 tick? To start, it boasts a Secure Element (EAL6+). What does that jargon mean? Simply put, it’s like putting your crypto in a fortified vault. It’s security that’s practically impenetrable. Your crypto is safe and sound, no questions asked.

But that’s not all. It comes with a Device-Entry Passphrase. This adds a layer of protection that’s personal to you. It’s like having a secret handshake to access your treasure trove.

Design and Aesthetics

We can’t review the Trezor Safe 3 without mentioning its look. It doesn’t just excel in security; it’s got style too. Trezor Safe 3 is available in four color variations, Solar Gold, Stellar Silver, Galactic Rose, and Cosmic Black.

Trezor Safe 3. Source: Trezor

The sleek, modern design is like having an elegant bodyguard for your digital wealth. It’s a delightful combination of aesthetics and functionality.

Standard Backup and Recovery Options

The biggest fear in the crypto world is the risk of losing access to your assets. Trezor Safe 3 addresses this issue comprehensively. With wallet backup options, you can kiss those worries goodbye.

For the average user, the Standard Backup offers a 12-word recovery seed. It’s simple, accessible, and secure. If you’re like me and you believe in having a backup for your backup, there’s the Shamir Backup. With Shamir Backup, you get multiple word lists. This way, you can distribute parts to trusted friends or family, and even if some parts are lost, your crypto remains secure.

Two-Factor Authentication and FIDO2 Standard

Just to top it off, there’s two-factor authentication (2FA) and FIDO2 standard. It’s like adding a moat and a drawbridge to your digital castle. Two-factor authentication means you need something more than just your password to access your wallet. And FIDO2? That’s an industry standard for strong authentication. This not only secures your access to your crypto but also makes it a lot more convenient. You can use methods like biometrics or security keys, so you’re not fumbling with SMS codes.

Supported Coins

A hardware wallet is only as good as the number of cryptocurrencies it supports, and here’s where Trezor Safe 3 shines.

  • The Extensive List of Supported Coins

Trezor Safe 3 doesn’t play favorites. It’s a one-stop-shop for crypto enthusiasts. With compatibility for an astonishing 8000 different coins, you’re not limited to just the big players. It’s like having your very own crypto bazaar.

From Bitcoin to those niche altcoins, you can secure them all under the Trezor Safe 3 umbrella. No need for multiple wallets; everything’s in one place.

  • Versatile Cryptocurrency Handling

Not only does Trezor Safe 3 support a vast array of coins, but it also handles them with finesse. You can send, receive, and even trade right from this nifty device.

It’s your gateway to the crypto universe, and it makes navigating this often complex space a breeze. No need to juggle different apps or wallets; it’s all conveniently packed into the Trezor Safe 3.

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