Security is of paramount importance in the cryptoverse. This is especially true when you consider that in 2023, $1.7 billion (a 54.3% decrease from 2023) was stolen.
Although desktop wallets and mobile wallets offer security, hardware wallets have the highest level of protection. They protect private keys, and provide secure crypto storage. Check out our guide to crypto storage for more information on how you can protect your digital assets.
Trezor has been a leader in the hardware wallet market since 2013. Recently, Trezor released its Trezor Secure 5. Trezor’s secure devices include the Trezor One, Safe 3, and Safe 5.
The Trezor Safe 5 Review will examine its features, safety measures and supporting assets. We'll also see how it stacks up against its siblings.
What is Trezor Secure 5?
Trezor is the company that makes the famous hardware wallets, SatoshiLabs of Prague. The Trezor Secure 5 is their latest non-custodial wallet.
Safe 5 has a colorful touchscreen with tactile feedback that provides an intuitive user experience. It is built on 10 years of open source security development and uses EAL 6+, a NDA-free Secure Element with passphrase and PIN protection to protect against both online and off-line threats. This enhanced standard for wallet backups of 20 words offers better recovery options.
Trezor Safe 5, which integrates into the Trezor ecosystem (including desktop and mobile apps), simplifies tasks such as buying, selling and exchanging cryptocurrency. The Trezor Safe 5 supports a variety of third-party applications, which makes it suitable for beginners as well as experienced users.
Safe 5 is Trezor’s most costly wallet. The wallet comes in three colors — Black Graphite, Violet Ore and Green Beryl.
Trezor Safe 5: Features
Trezor Safe 5 provides a high degree of convenience and security for the management of your crypto assets. This hardware wallet is unique in its design, which combines advanced technology with a sleek look.
Let's dive into the specific features that make the Trezor Safe 5 a top choice for crypto enthusiasts.
- Secure Element Protection
Trezor Secure 5 includes a chip that’s NDA-free, EAL 6+. It is similar to technology found in passports and smart cards. This chip safeguards private keys against possible threats. However, it's worth noting that while the Secure Element adds an extra layer of security, users should still exercise caution.
- 1.54" Color Touchscreen
The Trezor Safe 5 features a 1.54" Color touchscreen provides a simple and intuitive interface. Trezor's two other wallets — Model One and Safe 3 — have a monochromatic display with physical buttons to navigate menus and confirm transactions. Model T only has a touch screen.
- Haptic feedback
Trezor Safe 5 offers haptic feedback for an extra layer of interaction. The haptic feedback feature gives tactile confirmation to touch inputs. Although this feature may improve the user experience, not all users will find it to be an advantage, particularly those who prefer visual clues.
- Trezor Suite Integration
Safe 5 seamlessly integrates with Trezor, an advanced crypto-management platform. You can easily manage assets, track your portfolio and perform transactions using this software. However, some users may find the learning curve steep, particularly if they're new to crypto management software.
- Back-Up Options
Backup options are the 12-24-word standard recovery seed and advanced Shamir Backup. The feature divides the seed up into several shares and requires a certain number of them to be recovered. This feature adds an additional layer of security but can complicate recovery if it is not handled correctly.
- Open Source Security
True to Trezor's ethos, the Safe 5 is open-source. The crypto community can use this transparency to continuously audit the security features and make improvements. Being open-source means, however, that vulnerabilities are made public and can potentially be abused before being patched.
- Multi-Platform Compatible
Trezor Safe supports Windows, macOS and Linux. You can now manage your cryptography on any device.
- Support for thousands of Coins & Tokens
The Trezor Safe 5 is compatible with thousands of tokens and coins. Whether you're storing Bitcoin, Ethereum, or any other altcoin, this device has you covered. However, it's important to verify that the specific tokens you intend to store are supported, as some lesser-known tokens may not be included.
Trezor Safe 5, how much does it cost?
When considering a Trezor Safe 5, it's crucial to weigh the costs against its features and the level of security it provides. Here's a detailed look at the pricing, benefits.
Trezor Safe 5 Pricing
Price is often the deciding factor in a purchase.
At a moment when it seems that everyone is endorsing “value for money,” Trezor Safe 5 does not make an exception. We give it credit for being competitively priced in the hardware wallet market. Trezor Safe 5’s price is $169. It is also the same for the ELLIPAL Titan 2.0.
Trezor also offers an exclusive Bitcoin-only version, at a price that is surprising the same. You would have expected a currency-specific version to cost a little less than its standard version. It's like getting a special edition of Nintendo Switch, but it doesn't mean you can't play other Nintendo games on the console, right? We guess only Trezor know why they couldn't throw a better deal for the Bitcoin-only version.
However, it is worth noting that prices may vary depending on regional differences, promotions or bundles.
Cost vs. Benefits
Trezor Secure 5 is a high-security device, with features such as the Secure Element, Shamir Backup backup, and integration of Trezor suite. You ask, what is Shamir Backup? Shamir backup enhances the crypto-security of your wallet by splitting its private keys using mathematical techniques.
The redundancy of this method, which allows for recovery in case some shares were lost, is a great way to avoid all that technical jargon. This is a flexible, secure method to safeguard your digital assets. These features are a crucial part of the cost-benefit analysis.
Let's admit. Users who invest in Trezor or any other cold wallet pay for the security and peace of mind they get from the comprehensive security protocols. The cost-benefit analysis for Trezor Safe 5 takes into account the following factors:
• High-Security Features: Secure Element, Shamir Backup
• Easy-to-Use Interface: 1.54" color touchscreen, haptic feedback
• Extensive Compatibility: Support for over 1,000 coins and tokens,
• Durability: High-quality materials ensure long-term use and safety
Comparison with Competitors
When comparing the Trezor Safe 5 to its competitors, it's important to look at both price and features. Here’s a quick comparison with some popular hardware wallets. We decided to choose a high end option, a mid-high range option, and mid mid-ranger. Let's take a quick look:
• ELLIPAL Titan 2.0: This strong high-end competitor, the ELLIPAL Titan 2.0, is interestingly priced the same at $169. Simply put, the Trezor Safe 5 focuses on user experience with a color touchscreen and haptic feedback, while the ELLIPAL Titan 2.0 is fully air-gapped for maximum offline security. The Trezor Safe 5 supports over 1,000 cryptocurrencies and uses Shamir Backup, whereas the ELLIPAL Titan 2.0 supports over 10,000 cryptocurrencies and features a 4-inch display.
• Ledger Nano X: Priced somewhat lower at around €124.17 (which makes it around $135), it offers Bluetooth connectivity. With a Ledger Nano X you can manage 5,500+ coins and tokens, which is not bad at all.
• KeepKey: Our mid-range option is priced at around $80, KeepKey is more affordable and featuring a larger display. It supports fewer cryptocurrencies though, and provides basic security features, making it a good entry-level option for many.
Is the Cost Justified?
It seems that the Trezor Safe 5’s cost is justified by its comprehensive security features including the Shamir backup, and ease of use. It strikes a good balance between affordability and high-level security. However, it's crucial to consider individual needs and preferences when deciding if the Trezor Safe 5 is the right investment.
Trezor Models Compared
To help you get a clearer picture, we can't not compare the Trezor Safe 5 of its own kind, now can we? Choosing the right Trezor model can entail a lot of research and user-based requirements, especially with the different options available. Each Trezor model offers unique advantages tailored to different user needs.
Let's take a quick dive into the differences between cold wallets by Trezor:
Trezor Model One
• Price: At around $59, this is the most affordable model in Trezor’s lineup.
• Screen: Features a 0.96" Monochrome display (127 x 64 pixels) with basic visuals.
• The following are some examples ofIt provides basic security features, and it supports thousands of crypto currencies. The navigation is controlled by a 2-button pad.
• Take a look at this:The Secure Element is not included. It’s open source and protected with PIN and Passphrase, but it lacks the Secure Element.
Trezor Safe 3
• Prices are a little higher than usual.At a price of approximately $79 it offers an increase in features at a moderately higher cost.
• ScreenModel One (with a 0.96" monochrome display (128 x 64 pixels).
• Features: Supports many cryptocurrencies, and is designed to be lightweight and easy to use.
• Security: Open-source with PIN and passphrase protection, includes a Secure Element (EAL6+).
Trezor Model T
• Price: Priced at approximately $149, it remains a very advanced model even after the Safe 5 addition to the lineup.
• Screen: Features a 1.54" A full-color touch screen (240×240 pixels) that enhances user interaction.
• The following are some examples ofShamir Backup offers advanced security, it supports thousands of tokens and coins, and has a MicroSD slot to provide additional storage.
• Consider Using Security: It is open-source and secured with a Secure Element and Gorilla® Glass 3.
Trezor Safe 5
• Prices are a little higher than usual.This model, which costs around $169 has many of the same features as Model T but at a higher price.
• ScreenOffers 1.54" color touchscreen (240 x 240 pixels), improving usability.
• Features: Equipped with a Secure Element, haptic feedback, and integrates seamlessly with Trezor Suite. It also supports Shamir Backup and has Gorilla® Glass 3.
• Security: Includes advanced security with a Secure Element (EAL6+) and Shamir Backup.
In short, each Trezor model caters to different needs. The Trezor Model One is great for budget-conscious users, the Trezor Safe 3 offers a middle-ground option, the Trezor Model T balances cost and advanced features, and the Trezor Safe 5 provides the most advanced security and functionality. The right choice depends on your specific requirements and how you plan to manage your cryptocurrency assets.
Trezor Safe 5 Supported Assets
The Trezor Safe 5 is designed to support a wide range of cryptocurrencies and tokens, making it a versatile choice for crypto enthusiasts. Here’s an overview of the supported assets:
Natively Supported Coins
Trezor Safe 5 supports a broad array of cryptocurrencies directly through Trezor Suite. These include but are not limited to:
• Bitcoin (BTC)
• Ethereum (ETH)
• Cardano (ADA)
• Solana (SOL)
• Polygon (MATIC)
Users can manage these assets directly within Trezor Suite, making it convenient to view balances, send, receive, and trade cryptocurrencies.
ERC20 Tokens
All Ethereum ERC20 tokens are supported by Trezor Safe 5. Users can add any ERC20 token by creating an Ethereum account in Trezor Suite and adding the token using its contract address. This functionality covers a vast range of tokens, providing flexibility for Ethereum-based assets.
Non-Natively Supported Coins
For certain cryptocurrencies that Trezor Suite does not support natively, users can manage them through third-party wallets. These assets can still be securely stored on the Trezor Safe 5, but transactions and management will be handled through compatible third-party applications like Electrum or MetaMask.
Trezor Suite Compatibility
The Trezor Suite software provides a user-friendly interface for tracking portfolio performance, executing transactions, and adding new tokens. The integration with Trezor Suite ensures that managing even a large number of assets remains streamlined and efficient for users.
Multi-Platform Support
One of the key advantages of Trezor Safe 5 is its compatibility with multiple platforms and wallets. While Trezor Suite handles most of the supported assets, the device's open-source nature allows for integration with various third-party wallets. This flexibility ensures that users are not limited by the native software and can choose platforms that best meet their needs.
Trezor Safe 5 Review: Closing Thoughts
The Trezor Safe 5 is a standout crypto hardware wallet, offering advanced security and a user-friendly design, making it suitable for both beginners and experienced investors. Key features include a Secure Element chip for high-level security, Shamir Backup for asset protection, and an open-source design for transparency. Its 1.54" Color touchscreens and haptic input enhance the user’s experience. However, some may find that screen sizes are too small.
It is easy to manage portfolios and make transactions with Trezor Suite, but it can be a bit of a challenge for first-time users. It supports thousands coins and tokens including custom tokens.
The Trezor Safe 5 costs $169. This reflects its high security level and quality build. This is an excellent option for anyone who values security. Budget-conscious users may consider other options like the Trezor Model One, or KeepKey. The Trezor Safe 5 offers a great way to protect digital assets. It all depends on the individual’s needs.
Common Questions
How to set up Trezor Safe 5
Set up your Trezor Secure 5 by connecting it to your PC, downloading the Trezor Suite, then following the instructions on screen to create your recovery seed and initialize the device.
Which cryptocurrencies is Trezor Safe 5 compatible with?
Trezor Safe supports thousands of cryptocurrency, including Bitcoins, Ethereums, Cardanos, Solanas, and multiple ERC20 tokens. Visit the Trezor Website for an exhaustive list.
What is Secure Element Chip in Trezor Safe 5?
Secure Element is a microcontroller with high security that guards against various types of attacks. The technology behind smart cards and passports is very similar.
What third party wallets can I use with Trezor Safe 5 Wallet?
Trezor safe 5 works with a number of third party wallets, such as Electrum, MetaMask and MetaMask. You can use these to store and manage coins or tokens not supported by the Trezor.
Open-source or proprietary?
The Trezor Safe 5 does have an open source, which allows the crypto-community to improve and audit its security features.