Trezor
Cold Storage / HardwareTrezor created the first hardware wallet in 2013. Fully open-source firmware and software. The Model T features a touchscreen. Trezor Suite desktop app provides portfolio management. Strong focus on transparency and open-source ethos.
Quick Verdict
With a Custody Score of 6.1/10, Trezor is ranked #2 of 7 among cold storage / hardware providers. Its strongest category is Fee Transparency and its weakest is Insurance.
Analysis
Score Breakdown
The Custody Score is a weighted average across 8 criteria, each rated 1-10.
| Criterion | Score | Weight | Weighted |
|---|---|---|---|
| Security | 8.5 | 20% | 1.70 |
| Insurance | 1 | 15% | 0.15 |
| Regulatory | 2 | 15% | 0.30 |
| Fee Transparency | 9.5 | 10% | 0.95 |
| Track Record | 9 | 15% | 1.35 |
| Withdrawal Flexibility | 9.5 | 10% | 0.95 |
| Reporting & Audit | 2 | 10% | 0.20 |
| Counterparty Diversification | 9 | 5% | 0.45 |
| Total | 100% | 6.1 |
Key Features
- ✓Fully open-source
- ✓Trezor Suite desktop app
- ✓Touchscreen (Model T)
- ✓Shamir backup (SLIP39)
- ✓Coin control
- ✓Tor integration
Fee Breakdown
| Setup Fee | $69-$219 (device purchase) |
| Annual Custody Fee | None |
| Transaction Fee | Network fees only |
| Withdrawal Fee | Network fees only |
| Notes | One-time purchase. Fully open-source. Free Trezor Suite software. |
Security Details
Key Management
Open-source hardware wallet
Cold Storage
100%
SOC Compliance
Open-source audited
Penetration Testing
Yes
Incident History: Physical extraction vulnerability (patched). No remote compromises.
Insurance Coverage
Coverage
None — self-custody hardware
Carrier
N/A
Details
Hardware wallet. Full user responsibility.
Regulatory Status
Licenses
- N/A — hardware manufacturer
SatoshiLabs — consumer electronics.
Pros & Cons
Pros
- First hardware wallet — longest track record
- Fully open-source firmware and software
- Shamir backup for better key security
- Trezor Suite with Tor integration
- Community-audited code
Cons
- No secure element chip
- Physical extraction vulnerability (patched)
- Fewer supported assets than Ledger
- Less sleek design
- Model T is expensive
How Trezor Compares
Top cold storage / hardware providers ranked by Custody Score.
| Provider | Custody Score | Compare |
|---|---|---|
| Ledger | 6.1 | Compare → |
| Coldcard | 5.9 | Compare → |
| BitBox02 | 5.9 | Compare → |
| Foundation Passport | 5.6 | Compare → |
| Blockstream Jade | 5.4 | Compare → |