The Trezor Safe 3 is a new hardware wallet specifically designed for newcomers to the crypto space. Trezor, a well-known name in the crypto industry, has previously offered reliable but unremarkable hardware wallets for self-custodying Bitcoin and other cryptocurrencies. However, with the Trezor Safe 3, the company is targeting a wider audience by focusing on sleek design and user-friendly features.
The goal of the Trezor Safe 3 is to provide a simple and secure solution for crypto holders to store their assets independently. By using a hardware wallet like the Trezor Safe 3, users can take their crypto out of centralized exchanges that have been prone to hacks and potential fraud.
Currently, only 2% of the world’s 420 million crypto users practice self-custody, according to Trezor CEO Matěj Žák. This indicates a significant opportunity for hardware wallet manufacturers like Trezor to attract new users.
Design-wise, the Trezor Safe 3 follows mainstream consumer electronics aesthetics. It features a shield-shaped design with a screen and buttons, but with upgraded materials. The device comes in four colors: silver, gold, rose gold, and cosmos black. However, some review units had minor flaws in terms of finish and construction.
Compared to its rival Ledger Nano S Plus, the Trezor Safe 3 is slightly lighter at 14g. Its buttons have a satisfying clicky feel and are conveniently placed for easy use. The device has a simple monochrome display with a resolution identical to Ledger’s wallet but slightly dimmer.
The packaging of the Trezor Safe 3 is minimalist and eco-friendly. Inside the box, users will find the device itself, a USB-C cable, and additional items like a quick start guide, recovery seed sheets, and stickers.
To set up the Trezor Safe 3, users need to connect it to their PC or Mac using the provided USB-C cable. They will then be prompted to download the Trezor Suite management software from trezor.io. After installing the software, users can update the device’s firmware and learn how to navigate its two-button interface.
During setup, users have the option to create a standard 12-word wallet or a more secure Shamir backup. However, it is curious that the backup phase can be skipped entirely, as Ledger’s setup process requires users to check their seed phrase words.
Once set up, the majority of actions and interactions with the Trezor Safe 3 take place in the Trezor Suite desktop app. The app has a sleek design and intuitive interface, displaying portfolio information, supported assets, and security features like backups and PINs. Users can buy crypto directly from the app and also send and receive funds.
Trezor Suite also offers additional features like a “Discreet mode” that hides balances and transactions from prying eyes. Users can trade their crypto assets or spend them using Bitrefill, which allows for gift card purchases and phone refills.
In addition to the desktop app, there is a mobile app called Trezor Suite Lite that allows users to view account balances and receive crypto after scanning their public key or receiving an address QR code.
Overall, the Trezor Safe 3 aims to provide newcomers with an easy-to-use hardware wallet for self-custodying their crypto assets. With its sleek design and user-friendly features, it has the potential to attract more users to practice self-custody.
Hot Take:
Is Trezor Safe 3 Enough to Win the Wallet Wars?
The release of the Trezor Safe 3 marks Trezor’s entry into the competition for hardware wallet dominance. With its focus on design and user experience, it aims to capture new entrants in the crypto space who are looking for a secure and user-friendly solution.
However, the Trezor Safe 3 faces stiff competition from other hardware wallet manufacturers like Ledger. While the Trezor Safe 3 offers a sleek design and intuitive interface, it falls short in terms of finish and construction. Users may be drawn to other options that offer a more polished product.
Ultimately, the success of the Trezor Safe 3 will depend on its ability to attract new users and convince them to practice self-custody. With only 2% of crypto users currently self-custodying, there is a significant opportunity for hardware wallet manufacturers to tap into this market. Whether the Trezor Safe 3 can emerge as a leader in the wallet wars remains to be seen.
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