Trezor releases New Safe 5 Crypto Hardware Wallet with a Bitcoin only Variant
Crypto hardware wallet company Trezor announced three new products today aimed at promoting the self-custody of digital assets. This suite of new products includes the Trezor Safe 5 hardware wallet, a bitcoin-only variant, and the "Trezor Expert" onboarding service, which was announced onstage as its latest lineup at BTC Prague 2024
Introducing Trezor Safe 5, the most convenient hardware wallet to securely manage your crypto. 🤩
— Trezor (@Trezor) June 14, 2024
Pre-order now: https://t.co/1WWXAxxqSJ pic.twitter.com/Nc4GpjeGxZ
According to the company, the cost of the Trezor Safe 5 is $169, and it includes an expanded 20-word backup procedure, an EAL 6+ certification, a new secure element intended to safeguard sensitive data and carry out cryptographic operations, and a larger color touchscreen with haptic feedback. Users will be able to securely store, manage, stake, and use thousands of cryptocurrencies in one place with the Trezor Suite desktop and mobile app.
Trezor stated that, compared to its rivals, their products are constructed using open-source code, facilitating audits that are community-based or even the result of individual initiatives. Hotfixes for any vulnerabilities found are also easily implemented and distributed using open-source device resources.
Trezor Safe 5's secure element possesses the highest level of assurance available in the Common Criteria framework for on-device security. This certification can be applied to high-security devices like hardware cryptocurrency wallets, but it is typically used for national defense systems. With the help of Shamir's secret sharing, users of Trezor Safe 5 can upgrade from a basic single-share backup to a more advanced multi-share backup. By dividing the master secret key up into multiple distinct shares, this provides enhanced security by preventing a single point of failure.
Trezor stated that the company will also provide a 20-word version of its Trezor Keep Metal solution in July, which guards against physical damage to wallet backup phrases. The number of unique shares in the advanced backup and the number required to restore the wallet are both up to the users to determine. Users can still access their cryptocurrency even if some shares are lost, Trezor added.
The company has a Trezor Safe 5 that is limited to Bitcoin, but it is not yet for sale. Trezor is offering the device for pre-order; delivery is scheduled to start in July for interested parties.
Furthermore Trezor announced the launch of Trezor Expert, a customized, one-on-one onboarding service that will offer customers who want assistance setting up their cryptocurrency cold storage devices expert knowledge and support. The $99 service guarantees that only the customer knows the wallet backup and other sensitive information and will be accessible worldwide seven days a week.
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