Key Insights
- Trezor unveiled its new flagship hardware wallet, Trezor Safe 5, and a bitcoin-only version at BTC Prague 2024, featuring enhanced security and usability.
- The company introduced a new onboarding service, Trezor Expert, offering personalized setup guidance to boost user confidence in self-custody.
- Trezor emphasized open-source development, a new 20-word backup process, and is capitalizing on growing distrust in centralized exchanges.
PRAGUE (MarketsXplora) – Crypto hardware wallet maker Trezor launched three new products on Friday aimed at encouraging self-custody of digital assets, as the firm seeks to capitalize on growing distrust of centralized exchanges following high-profile collapses.
The Czech company unveiled its new flagship Trezor Safe 5 hardware wallet and a bitcoin-only version, along with a personalized onboarding service called Trezor Expert, at the BTC Prague 2024 conference.
The Safe 5 device, retailing at $169, allows users to securely store and manage thousands of cryptocurrencies via Trezor’s desktop and mobile apps. It features an enlarged color touchscreen, haptic feedback and an enhanced secure element chip to protect sensitive data.
“Many crypto enthusiasts lack trust in exchanges and are looking for an easy, secure way to interact with their assets,” Trezor CEO Matěj Žák told MarketsXplora. “We saw an opportunity to bring something new – a wallet for everyday utility along with the highest security.”
Trezor emphasized the open-source nature of its devices, which undergo community auditing to quickly identify vulnerabilities. However, this can also make them easier to crack if stolen.
The firm said the Safe 5’s secure element has undergone extensive testing to resist sophisticated attacks, achieving EAL 6+ certification.
It also introduced an upgraded 20-word backup process using Shamir’s secret sharing, designed to eliminate single points of failure by splitting the master key into multiple shares. Users decide how many unique shares to create and how many are needed for restoration.
Bitcoin-only and graphite models are available for pre-order, shipping in July, while green and violet versions arrive mid-August. An unlimited edition orange bitcoin-only Safe 3 wallet will also be sold, expanding on last year’s limited run.
Alongside the devices, Trezor launched its Expert service providing one-on-one setup guidance to boost user confidence.
The $99 sessions cover topics like private key management and safe practices.
“Newcomers sometimes lack experience setting up wallets. Expert helps customers do it correctly and explore self-custody security in detail,” said Žák.
The service launch follows spikes in Trezor sales after the collapse of major crypto exchanges, as users move assets off centralized platforms.
Trezor said Expert will be available globally seven days a week, while ensuring only the customer knows sensitive wallet information.
The company aims to differentiate itself in the competitive hardware wallet market dominated by France’s Ledger, which faced criticism last year over a major customer data breach.
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