How to SECURELY Set Up a Trezor Model T
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- Опубликовано: 11 июл 2024
- In this video I show you the most secure way to set up a Trezor Model T hardware wallet. 99% of the tutorials I’ve watched here on RUclips skip a crucial step that guarantees that your cryptocurrency will be secure in a hardware wallet.
If you are in crypto for the long run and want to make 100% sure that your funds are not lost in an exchange hack or a bankruptcy event (that we’ve been seeing more and more of recently) you want to make sure that you’re backing up your seed phrase and actually going through the process of restoring a wallet that you create on your hardware device!
I show you how to do this, step by step, in this video with Trezor’s flagship hardware wallet.
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99% of Tutorials Miss This 0:00
Unboxing for Security 1:24
Download Trezor Suite 2:18
Installing Firmware and Creating Wallet 4:05
Seed Phrase 5:25
Create a PIN 7:33
Wallet Setup 8:10
Send Bitcoin from Coinbase to Trezor 9:55
Check Backup Feature 11:12
Factory Reset (KEY STEP) 12:54
How to Send Crypto from Trezor 14:37
Secure Your Seed Phrase 18:22
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Have you tested to see if your seed phrase is recoverable?
Only with the recovery seed check with my Model One Trezor. Once I decide to upgrade to a Model T when I have much more BTC I will surely need to remember this to have a much better check. Awesome idea for a very long term storage of value with BTC!
Definitely! Glad to help :)
I think the recovery seed check is probably good enough - I trust Trezor to have written that correctly
trying on Twitter to reach you but mess won't go. Any other way??
Is the set up the same for the Trezor one ?? And can ut be set up through Brave browser ?
Trezor model one tutorial here: ruclips.net/video/vBs9v1_zIwM/видео.html
Brave browser works :)
I just use Twitter
Greetings R2. That was an excellent tip. Never thought about doing that with my Trezor. Going to test that tonight thanks.
Cheers bruv 🙌
Good video and good point about seeing if the Trezor will securely hold our crypto. TY, Dr. Marc
Glad to help :)
Thanks Marc!
this is the best video I've seen, thank you
Any time bruv 😎
If I am receiving $100 in btc from a business outside of the country, can I have them send it directly to my Trezor, or must I go through a hot wallet first, thank you.@@RhettReisman
Thank you such an informative and easy to follow vid
Glad to help :)
Excellent video. I've watched a bunch of these to feel comfortable moving my money off coinbase. This is easily the best video I've seen. Thank you
Thanks for the kind words🙏 Happy to help! Let me know how it goes!
Thank you for your tutorial.
Glad to help :)
Excellent Vid. Following. Thanks
Happy to help :)
Oh wow that's right, you really nailed it, thank you 🙏
Glad to help :)
@@RhettReisman We would really appreciate if you make a video about the recent Ledger saga and whether Trezor was the right choice, thank you in advance 🙏
Going to make a short to address ledger situation this week. More hardware wallet thoughts coming in the next few weeks to properly address ledger 🫡
Brilliant, thanks so much
Happy to help :)
thank you so much bro
Happy to help :)
Thank you
Glad to help :)
The hidden wallet is a nice feature. It bypasses any brute attack on the hardware itself if ever stolen by someone competent. I use a cypherock now anyway, but keep some separate accounts on trezor for other family members.
Interesting, I haven't heard of cypherock. Yeah those hidden wallet features are cool
Cypherock is relatively new and hit their stride after the ledger debacle of exporting your seed to a third party. Coin bureau just gave it a 4.8 out of 5 stars. Highest review ever I believe.
Thanks for this video Rhett. This video was very helpful.
Anytime :) I appreciate you 🙏
Thanks
Glad to help :)
@@RhettReisman just got mine in the mail yesterday ngl the whole process is a little nerve racking
Which part did you find hardest or gave you the most stress?
Which do you prefer out of the cold card and trezor? Cheers for the vid
Happy to help :)
Think trezor is easiest but I prefer coldcard. Forces you to learn more about behind the scenes how Bitcoin works. Sparrow wallet is a great interface for coldcard
Good video, can you add 2 Trezor hardware wallets to 1 Trezor suite?
Yes!
Great video Rhett! Why did u choose 12 words and not 24?
Is 24 more secure?
Also, if you add an etherium wallet does it use the same private and public keys?
Is there any advantage to making it btc only?
There isn't a difference between 12 words and 24 words from an entropy perspective and I didn't want to write down 24 words haha
Explanation of the entropy here: ruclips.net/video/U0T49duRt74/видео.html
Yeah the wallets are hierarchically determined so any crypto wallet you have on the trezor will use the same seed phrase.
BTC only affects the firmware. Some people see the firmware accepting altcoins to be an attack vector (and they might be right) but I think this is a very small risk.
JAJJAJA You were sharing your seeds!! 😂
Omg I’m so dumb. Plz don’t take my money
I was logging on to my wallet and kept making mistakes with my banana fingers. I had saved a pen used to make selections on a touch screen (which has a soft tip) when I last voted at the election poll site.
This was perfect for typing info into the Model T.
Good idea, that screen is definitely not fat finger friendly
This was fucking great. Thank you
Cheers bruv 🫡
Ledgers “check seed” function is the ledger equivalent of the last part of this video? Basically checking seed is what you think it is?
I haven’t used it but I imagine Ledgers check seed function is probably the same as Trezor’s that I ran toward the end of this video.
In both cases you’re trusting ledger and trezor to have written that check software correctly (which I personally think they have) but don’t trust, verify.
great vid.....really sensational. I have an issue with the steel plate seed phrase thingies - the just look so obviously what they are.....and surely that's a secuitry issue....becaue essentially they are the physical possession of all the crypto they contain - anyone who physically gets the steel thingy, can steal everything in it. So......how to store the seed phrase safetly and effectively - particularly for travellers
Yeah that’s a great point. There are some cylindrical designed steel seed pod things that basically do the same thing but are probably easier to hide. I would probably question why you need to carry the seed phrase unless you’re fully nomadic (in which case maybe some multisig setup would be better 🤷🏻♂️)
Great appreciate your delivery of content. You didn't try to sound like a celebrity on price is right . Straight to the point .
I sure I going to purchase the Trezor Model One but, if there is difficulty setting it up how am I able to contact you ?
DM me on Twitter @rhettre
@@RhettReisman Never did the DM but will try today.. Thanks
@@RhettReisman tried but it says the message didn't go through even with the retry ...hope to talk with you soon ...
What is your @ on Twitter? I’ll dm you
@@RhettReisman @MicWell1
Do you recommend storing seeds on bitwarden? it has several rounds of encryption. What do you think of it?
I haven't used it before, I probably wouldn't put seeds into a password manager. Maybe if you use a multisig
What would you consider doing for existing wallets? Just run the recovery seed check?
Yeah just run the check - bonus points if you run the check on multiple wallet softwares, but running the check should make you like 99.99% sure that your seed is correct
At about 14.25-14:30? you mentioned saving the address to a "Mem" Pool? You went kind of fast and didn't really illustrate where that is that I can save it too. Did I even hear it correctly? Could elaborate on that? I'm new to all of this. But I'm taking my time to learn as much as possible. Thank you Rhett.
You heard right - it's the mempool
Video here: ruclips.net/video/poER9Dwj9Gg/видео.html
Just curious. Since your last video, did you move to UC or are you still with Casa? Thanks for this presentation.
My Casa ends in May, planning to move but haven’t set up a 3 of 5 on UC yet
@@RhettReisman UC does not offer a 3 of 5. THey offer a 2 of 3.
You can create a 3 of 5 through their caravan software. I’ll have a video up on how to do it before May hopefully
@@RhettReisman Thank you. Looking forward to it. I met with their conceirge service 2 weeks ago. UC mentioned that if I setup 3 of 5 via Caravan, I am not covered by them and out of support as they do not hold any keys.
That’s interesting - I didn’t know that. I’ll have to look into it more
Is that the only way to create a new wallet ? I mean being connected to the app ( meaning internet ) ? Thx
Yeah this is how you create a new wallet. Your trezor device is never connected to the internet. It just signs transactions
Do you recommend connecting to a VPN before setting up your trezor for the first time, regardless if you are at home or in a public network?
You shouldn’t need to, all the important information is calculated on device
So the standard wallet is fine for most users And protected by the pin and seed phrase ?
Yeah I would just use the standard wallet
Hello I am wondering if it’s possible to get a 24 word seed phrase on the Trezor?
Yeah you can do 24 on a trezor. However, best practice is 12, 24 doesn’t provide any extra protection or entropy.
great stuff mate. quick questions tho...and sorry if you answered it online....but.....if we do a factory reset - the critical thing is to enter the seedphrase on the trezor YT device (which is safe right?). So you wouldnt want to do this with the trezor 1 would you? ive got a new model T coming in the mail....would it be a good idea to start with a factory rest to begin with just in case? :-)
Yeah would be good to verify that your trezor is legit, you could do a factory reset at the beginning of the process, but you should see on first startup that there’s nothing on the device because youre installing a fresh firmware.
And then to reinitialize wallet you’ll put the seed phrase on the new device
@@RhettReisman cheers. I trust that...the seed phrase can be entered on the T and/or by doing this 'checking seed works' process...we arent compromising the seed in any way?
As long as you have legitimate trezor firmware, a legitimate trezor suite app, and a legitimate trezor device, entering your seed phrase is secure.
@@RhettReisman as much as i kno! aswell as the sticker on the device when new (?) im checking with trezor how to check that mine is genuine (coming in mail)...but its coming from genuine australian re-seller, app had correct website address (and certificates valid) for downloading app...so looks ok there too. new trezor should come with up to date firmware eh? thanks 🙂
Think you should choose firmware to install when you setup the device for the first time. Rest sounds right.
yay I did this by accident, firmware update failed lol, wiped everything
Damn lol that’s one way to check haha
If I can't get my Trezor to pair with my Exodus, is it a big deal, if I'm only using my Trezor to store BTC, thanks for your advice
I haven’t tried linking trezor with exodus before. You can use a trezor without using exodus and just use trezor suite. When you initially setup a trezor it has nothing to do with exodus - hope that made sense
Yes, thank you so much. I'm pretty green in this arena, and appreciate the insight@@RhettReisman
What is better keystone or trezor?
Depends on your use case. Compared them here: ruclips.net/video/XeKSXGuuHb4/видео.html
You say go over to exchange of choice. How do you do that? I have my coins on ABRA app and want to take it all off and put it on my Trezor Wallet. How do I get to that?
I haven’t used Abra before, but there should be an option in Abra (your exchange) to send crypto.
You’ll click send crypto and then when it asks for a receiving address you can generate an address from the Trezor like we do in the video. Hope that helps?
fren asks: is it ok to link Exodus with Trezor T?
You shouldn’t move your software wallet to your hardware wallet see this video: ruclips.net/video/SXmM7MvqjB0/видео.html
Do I need to hook the Trezor T to my o\phone for it to get to the ABRA APP
I haven’t used the Abra app. You should be able to send from Abra without hooking Trezor to your phone.
Only time you would need to hook trezor to your phone would be signing a transaction sending crypto out of your Trezor to any other app.
Is it possible to set up a new Trezor device using a compatible energy source such as a phone adapter without needing to connect it to the Trezor Suite interface? ....I've done it with a Ledger.
You should be able to sign using trezor with other applications not just trezor suite. Not sure if I understood the question correctly :/
Can you initialize the Trezor device and set up the recovery phrase without having to connect it to the computer's USB?...Set it up off line?@@RhettReisman
What can i use for my laptop ?
You can download trezor suite from the Trezor links in the description :)
Let's say i have downloaded Trezor suite on my desktop, can i then make a factory reset and create a new seed (wallet) tho i am offline
Question is: can i create the seed offline ?
Yeah you should be able to generate a seed phrase offline (because that happens on device) once you've downloaded trezor suite locally
You might be able to do it with like Sparrow wallet too instead of trezor suite
@@RhettReisman
Thank you for your fast response.
The thing is i was creating a new seed using Trezor and when i was finished making the seed i saw that the ethernet cable was not plugged into the computer.
So the computer was offline the whole time i was creating the seed. ( i do not have wifi )
I used Trezor Suite downloaded desktop version.
The computer was offline the whole time from the start making the seed til the end.
But i still managed to create the seed and the wallet is working fine right now.
Do you think this is normal for using Trezor ? Do you think i have to be worried about the seed or anything else ?
Any idea how many tokens can be staked ?
I want a wallet that has staking options
And I have my options down to MODEL T And a Ellipal titan
But what is turning me off with ellipal is the closed source.
Please can some one let me know how many staking options there are with the model T
The Trezor Model T does not directly support staking. However, it allows you to link your wallet to staking pools or validators. A well-known service for this is AllNodes, which currently supports staking of over 50 digital assets that you can stake directly with Trezor
Per this article: themoneymongers.com/crypto-wallets/best-staking-wallet/
Okay sounds good, do you have any experience with the Ellipal Titan ?
I haven’t used it before, no :/
hi i want to ask what will happen if i clicked yes with the anonymous data ?
and how can i cancel it
You should be able to reinstall trezor suite to fix that problem
Any advice for someone that missed this step and has been dca for a year now lol
Lol if you’re using trezor there’s a setting that says “check recovery seed” which will allow you to, on device, confirm that your recovery seed is actually the address you’ve been sending funds to.
If it’s not (rip) send your funds to another wallet asap, reinitialize your trezor (or whatever wallet you’re using), don’t skip this step, and then send the funds back.
@@RhettReismancopy that! 🙌🏾
the question is can we factory reset our trezor and make a new seedphrase like we buy the new one ?
yes! factory reset will let you generate another seed. you could then load both seeds onto the trezor at different times
How do you log out of trezor suite?
You don’t need to “log out” trezor suite is just showing the xPub of your trezor wallet. You shouldn’t use trezor suite on a shared computer. If you do you should uninstall trezor suite after you use it
@@RhettReisman That's great, thanks. I don't look at it often, (not much in there), but it always annoyed me, so I kept looking and looking, but to no avail.
Is there a way to add coins to my Trezor T to be accepted.
You can add accounts through trezor suite but if a coin is not compatible with trezor suite, you can’t store that coin on trezor you’d need a different hardware wallet
@@RhettReisman Thank You, I will try and might need to follow up w/a question or two. I was hoping to see a video on how to follow. I had three breeches, they stole from my Coinbase account, which they are working w/me, Pergo and all of my Algo is gone and the biggie was my Gemini account.
I want cold storage..... when and if XRP takes off, I don't wish for a thief to get my riches.
Jeez that’s crazy man. Sorry that happened 😕
Why were you able to send without the seed? If someone gets past the pin and no seed looks like they’ll be able to send out coins like nothing…
That’s correct. The seed is on the device. If they steal the device and know the password they can send the funds.
To protect against this you can set up a multisig.
Hi - It cost me $15 to send $10 worth of bitcoin from the wallet to Trezor. This is at 3:30 in the afternoon. This is ridiculous. How can I possibly do this? I will be losing so much money. Is it that much different at midnight or something? I don’t understand.
It costs $15 to send $10 of Bitcoin
Fee calculation can get a little complicated but i think it’s probably that you’re trying to spend multiple UTXOs. IMO it’s not worth sending on chain transactions that are less than $30
What is creating the seed phrase? Is it already on the device? Who put it in there? Trezor knows my seed phrase? Because he put it in there, so they must know? Can I reset the device and it will create a new Phrase? Or will it always be the same? Anybody can answer my questions?
Software on the trezor creates the seed phrase at the time that you generate a new wallet, it’s not already on the device when you buy the device new from the manufacturer.
Trezor doesn’t know your seed phrase.
You can reset the device and it will generate a new seed phrase.
@@RhettReisman Thank you very much for your answer. 👍
Ordering a Trezor was the worst purchase experience I ever had, All payment options failed, Customer support is non existant and they send me idiotic confusing emails congratulating me for my order when the payment had already failed...Hard to trust them with more serious issues.
Hey what happened
That sounds like a nightmare. Definitely consider a coldcard or a ledger they’re both great devices.
Thanks for the response. I have a lot of devices as it spreads the risk. I had some issues with ledger also ( at one stage they got my balance wrong by 3 BTC)@@RhettReisman
This wallet is way to complicated to use there are only a few coin/tokens installed in the wallet if you want to add more, it needs to connect to another wallet 🙄, I have several wallets and this is the worst of all, D'CENT is my favorite, easy to use, supported tokens/coins already there there is no need to connect to a different wallet.
Never heard of it 🤷🏻♂️
@@RhettReisman are you kidding is one of the best cold wallets out there
🤷🏻♂️ seems decent at best
All my funds disappeared anyway.
That sucks man
How did you secure your seed? Feel free to email me rhett@rhett.blog or dm me Twitter @rhettre if you don’t want to share.
Kept them on me at all times, and even carried a hard wallet on me wherever I went. Complete waste of time.@@RhettReisman
Seems like they are on the old, intermittent and grumpy Trezor One. Somehow the coins had been disabled. However, nothing shows up on the T. Very odd, as it worked whilst transferring to the T, then suddenly everything went absolutely haywire. It would take a book, to explain it all. So there is hope, wish me luck trying to actually get to them now.@@RhettReisman
...SECURELY? MAC instead of Linux... 12 words instead of 24 words....? Hmmmmm.... not very secure way mate.
You’re right, how could I be so stupid
12 words remembered are better than 24 forgotten
@wardm7115 exactly