Trezor Model One Review: Simple, Secure, and Affordable

The Trezor Model One is the original hardware wallet that introduced millions of people to the idea of securing crypto offline. Created by SatoshiLabs, it was designed to give everyday users a safe, simple, and affordable way to protect digital assets without relying on exchanges or hot wallets. Over time, it has built a reputation as a reliable entry point for those starting their crypto security journey.

On the outside, the Model One is minimalist and compact, available in white or black. It has just two physical buttons, a small monochrome screen, and a USB connection for pairing with your computer. While its look is understated, this simplicity works in its favor, fewer distractions, fewer parts that can fail, and a straightforward strategy to navigation and confirmation.

For beginners, the Model One strikes a balance between ease of use and robust protection. Private keys never leave the device, transactions must be physically confirmed on-screen, and the open-source firmware offers transparency and community oversight. It’s designed for users who primarily want to hold major coins like Bitcoin, Ethereum, and ERC-20 tokens without unnecessary complexity.

That said, its simplicity also highlights its limitations. The screen is small, it lacks touch functionality, and it doesn’t support every newer coin or advanced DeFi integration. Still, these trade-offs are what make it one of the most affordable hardware wallets, appealing to those who want a no-frills, trusted solution for securing their crypto.

This review will walk through its design, security features, supported assets, compatibility, pricing, and more, helping you decide if the Trezor Model One is the right wallet for your needs.

Design and Build

The Trezor Model One is built with simplicity in mind, both in how it looks and how it feels in hand. Unlike premium models that lean on polished finishes or larger screens, the Model One sticks to a compact, no-frills design. This makes it approachable for beginners while still being sturdy enough to serve as a reliable everyday security tool.

Physically, the wallet is small and lightweight, about the size of a car key fob, so it can easily fit in your pocket, bag, or even on a keychain if paired with a protective case. The casing is made of durable plastic, which helps keep the cost low without sacrificing basic sturdiness. While it doesn’t have the “premium” feel of metal wallets or higher-end Trezor models, the plastic body is more than capable of withstanding regular handling and travel.

The device features a small monochrome display at the top and two physical buttons just below it. These buttons are used for everything from entering your PIN to approving transactions, and their tactile feel adds reassurance; you know when you’ve pressed something. The screen is sharp enough for text and transaction details but limited in space, so scrolling through longer confirmations can feel a little clunky compared to modern wallets with larger or color displays.

Color options are straightforward: white for those who prefer a clean, minimal look, and black for those who want something discreet. Both variants are identical in functionality, so the choice comes down purely to personal style. The matte finish helps resist fingerprints and scratches, keeping the device presentable even after extended use.

Overall, the design of the Trezor Model One emphasizes practicality. It’s not meant to impress with luxurious materials or flashy features but to provide a compact, reliable, and distraction-free way of keeping your crypto safe. If you’re someone who values functionality over aesthetics, the build of the Model One strikes that balance well.

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Security Features

Security has always been the backbone of the Trezor Model One, and even though it’s the brand’s entry-level wallet, it carries most of the essential protections you’d expect from a hardware wallet. The goal is simple: keep your private keys offline, away from hackers, and make sure every transaction is physically confirmed by you.

At the heart of its security is the PIN protection system. When you set up the device, you create a PIN that must be entered before any transaction can proceed. The wallet randomizes the number layout on the screen each time, so even if someone is watching your keystrokes on the computer, they can’t guess your code. Alongside this, you receive a recovery seed (a set of 12 to 24 words) during the initial setup. This seed is the master backup. If the device is lost, damaged, or stolen, you can restore your funds to another wallet by using it.

The Model One also supports passphrase protection, essentially adding a 25th word to your recovery seed. This creates an extra layer of security, as even if someone manages to get hold of your seed, they won’t access your funds without the additional passphrase. For users who want to split funds or add a “hidden wallet,” this feature provides flexibility and peace of mind.

Unlike some competitors, Trezor takes pride in its open-source firmware. This means the code is publicly available, audited by the community, and constantly updated. For users who value transparency, this is a big plus compared to closed-source wallets, where trust relies solely on the manufacturer.

However, it’s important to note a few limitations. The Model One does not use a secure element chip, which some wallets (like Ledger devices) employ to add tamper-resistant hardware security. Instead, Trezor relies on its overall design, firmware, and transparent ecosystem to keep assets safe. For most users, this is more than enough, but advanced security enthusiasts may prefer wallets that combine both approaches.

In practice, the Model One’s security is robust and reliable for everyday users. It’s built to withstand phishing attacks, malware threats, and remote hacks, but it does rely on the user to properly safeguard their recovery seed and set strong protections. If those basics are followed, the wallet delivers the level of safety it’s known for.

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Supported Cryptocurrencies

One of the strengths of the Trezor Model One is its ability to support a wide range of cryptocurrencies despite being an entry-level wallet. It works seamlessly with Bitcoin, Ethereum, Litecoin, and the most popular ERC-20 tokens, covering the needs of the majority of casual and long-term holders. For those who primarily invest in mainstream coins, this wallet checks all the boxes.

The device integrates with Trezor Suite, the official desktop and browser interface, where users can manage coins, track balances, and send or receive transactions. It also connects with third-party wallets such as MetaMask, MyEtherWallet, and Electrum, extending support for tokens beyond what Trezor Suite directly provides. This flexibility makes it possible to store and interact with hundreds of assets while still keeping private keys secured offline.

That said, the Model One does have limitations. It does not support certain newer blockchains or coins that rely heavily on advanced integrations. For example, coins like Cardano (ADA), Monero (XMR), and some Solana-based tokens are not natively supported. Users interested in advanced DeFi, staking, or niche ecosystems may find this limiting compared to newer models such as the Trezor Safe 3 or Ledger Nano X, which offer broader compatibility.

Here’s a breakdown of some of the major supported assets:

Category	Examples
Bitcoin Family	Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC)
Ethereum Family	Ethereum (ETH), Ethereum Classic (ETC), ERC-20 tokens (e.g., USDT, LINK)
Other Coins	Dash (DASH), Dogecoin (DOGE), Zcash (ZEC), Binance Coin (BNB – ERC-20)
Stablecoins	USDT, USDC, DAI (as ERC-20 tokens)

For most everyday users, the Model One offers enough coverage to secure their crypto holdings. If your portfolio consists of Bitcoin, Ethereum, and ERC-20 tokens, this wallet delivers exactly what you need. But for investors exploring newer chains and tokens, the lack of native support can be a roadblock, and a higher-end wallet might be the better fit.

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Compatibility

The Trezor Model One is built to work smoothly across most major systems and wallets, making it a flexible choice for beginners and casual users. Unlike some newer devices that focus heavily on mobile support or wireless connectivity, the Model One stays rooted in simplicity with a USB connection. This means you’ll mostly be pairing it with a computer for daily use, though limited mobile options exist through third-party apps.

The core of the experience comes from Trezor Suite, the official software interface available on desktop. Trezor Suite is compatible with Windows, macOS, and Linux, providing a clean dashboard to manage balances, send and receive coins, and adjust settings. For those who prefer browser access, the wallet also works with major browsers such as Chrome, Firefox, and Edge, though it’s best paired with the desktop app for a more reliable and secure experience.

In addition to the official suite, the Model One can integrate with third-party wallets. This includes MetaMask, which opens up access to decentralized applications (dApps), Electrum for advanced Bitcoin users, and MyEtherWallet/MyCrypto for Ethereum and token management. These integrations make the Model One more versatile than it may initially appear, as they extend functionality into ecosystems not directly supported by Trezor Suite.

Mobile compatibility is more limited. While some third-party apps can connect with the device through an adapter, the lack of Bluetooth or a direct mobile-first design means the Model One is less convenient for those who rely heavily on smartphones for crypto management.

Here’s a quick breakdown of compatibility:

Platform / Tool	Supported?	Notes
Windows	✔️	Full support via Trezor Suite
macOS	✔️	Full support via Trezor Suite
Linux	✔️	Full support via Trezor Suite
Android	⚠️	Limited support through third-party apps and USB adapters
iOS	❌	No direct support
Browsers	✔️	Chrome, Firefox, Edge (best with Trezor Bridge or Suite Web)
Third-Party Wallets	✔️	MetaMask, Electrum, MyEtherWallet, MyCrypto, and others

The Trezor Model One is at its best when used on a desktop with Trezor Suite. It covers all the major operating systems and works with leading browsers, making it easy to integrate into most setups. The lack of direct mobile and iOS support is a drawback, but for users who primarily manage their crypto on a computer, the compatibility is more than sufficient.

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User Experience

The Trezor Model One is designed to keep things simple, which makes it approachable for first-time hardware wallet users. From the moment you unbox it, the setup process is guided and straightforward. You connect it to your computer via USB, install Trezor Suite, and follow the on-screen instructions to create a PIN and write down your recovery seed. The device won’t let you skip the recovery seed step, ensuring you create a backup before storing any funds.

Navigation is handled through the two physical buttons and the small monochrome screen. This design means there’s no steep learning curve; you scroll, select, and confirm. While it may feel basic compared to touchscreens or color displays on newer wallets, the simplicity reduces errors and distractions. The tactile feedback of pressing a button also gives a reassuring sense of control when confirming transactions.

Once set up, using the wallet with Trezor Suite is smooth. The software offers a clear dashboard where you can view balances, send and receive crypto, and even track portfolio value. For users who want more flexibility, integration with third-party wallets like MetaMask expands access to Ethereum tokens and dApps. However, switching between different apps for unsupported coins can feel a bit clunky if you hold a wide range of assets.

On a daily basis, the Model One works best for users who check their balances or move coins occasionally rather than constantly interacting with DeFi protocols or advanced features. Every transaction must be physically confirmed on the device, adding an extra step, but this is part of the wallet’s security model; it ensures no transaction leaves your wallet without your explicit approval.

The only drawback in terms of experience is the screen size. Longer wallet addresses and transaction details require scrolling, which can be tedious. Still, for basic operations like sending Bitcoin or Ethereum, the process is smooth and beginner-friendly.

The Trezor Model One offers a clean and beginner-focused experience. It guides new users through setup, makes basic navigation easy, and pairs well with Trezor Suite for day-to-day management. While it lacks the speed and convenience of touch-enabled devices, it succeeds in its goal of making crypto security accessible without overwhelming complexity.

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Pricing and Value

The Trezor Model One is widely known as one of the most affordable hardware wallets on the market. Its pricing is intentionally set low to attract beginners and casual investors who want to secure their crypto without investing heavily in advanced hardware. For users who only need a reliable way to store Bitcoin, Ethereum, and a selection of popular coins, the cost-to-benefit ratio is highly appealing. Unlike higher-end wallets, you’re not paying for extras like a color display, Bluetooth connectivity, or support for every new blockchain; instead, you’re paying for a straightforward and secure device that covers the essentials.

What makes the Model One valuable is not just the low price but also the trust and longevity of the Trezor brand. Since this wallet has been on the market for years, it has built a track record of reliability and transparency. The open-source firmware means updates are ongoing, and the community helps ensure that vulnerabilities are patched quickly. This ongoing support gives the device a lifespan that justifies its cost, especially for users who aren’t looking to frequently upgrade.

That being said, value is always relative to your needs. If your portfolio is diverse and includes assets outside the Model One’s supported range, or if you plan to interact heavily with DeFi protocols, the cost savings may not outweigh the limitations. In such cases, wallets like the Ledger Nano S Plus or Trezor Safe 3 may be a better investment. But if your goal is simple, long-term storage of mainstream cryptocurrencies, the Model One delivers outstanding value at a fraction of the price of its competitors.

In short, the Trezor Model One is an ideal wallet for cost-conscious users who want security without unnecessary extras. It makes sense as a first hardware wallet for newcomers, as well as a backup device for experienced users who already own a more advanced model.

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Who Should (and Shouldn’t) Get the Trezor Model One

The Trezor Model One is not a one-size-fits-all solution; it shines in some scenarios while showing its limits in others. Understanding where it fits best helps users decide whether it’s the right wallet for them.

Who Should Get It

• Beginners in crypto: If you’re just starting out and want an affordable hardware wallet that balances security and ease of use, the Model One is a perfect entry point.
• Long-term holders: Investors who mainly buy and hold major assets like Bitcoin, Ethereum, and ERC-20 tokens will find it more than capable of securing their funds.
• Budget-conscious users: Those who want hardware wallet security without paying extra for premium features like Bluetooth, touchscreens, or advanced integrations will see excellent value.
• Backup wallet users: Experienced investors who already own a premium hardware wallet can use the Model One as a secondary device for redundancy and added safety.

Who Shouldn’t Get It

• DeFi and NFT enthusiasts: If your focus is on decentralized apps, staking platforms, or NFTs across newer chains, Model One’s limited support will quickly feel restrictive.
• Investors with diverse portfolios: Users holding coins not supported natively by the Model One (e.g., Cardano, Solana, Monero) will face inconvenience and should consider newer devices.
• Mobile-first users: Those who prefer managing their crypto via smartphones will be disappointed, as the Model One lacks Bluetooth and offers limited mobile integration.
• Power users seeking advanced features: If you want seamless compatibility with cutting-edge protocols or faster navigation through touchscreens and larger displays, this wallet will fall short.

The Trezor Model One is best suited for newcomers, long-term holders, and anyone who values reliability at a low cost. However, if you’re deep into the evolving world of DeFi, NFTs, or diverse altcoin portfolios, you may outgrow its capabilities quickly.

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Alternatives to Consider

While the Trezor Model One is a reliable starting point, it isn’t the only hardware wallet worth looking at. Depending on your needs, budget, and the types of cryptocurrencies you hold, other options might serve you better. Here are three key alternatives worth comparing.

Wallet	Price Range	Key Features	Best For
Ledger Nano S Plus	Similar budget	Large coin support, secure element chip, bigger screen than Model One	Beginners who want wider coin coverage at a similar entry-level price
Ledger Nano X	Higher tier	Bluetooth connectivity, mobile support, secure element, larger memory	Users who want mobility, wireless convenience, and manage diverse assets
Trezor Safe 3	Mid-range	Touchscreen, secure element chip, broader coin support, modern design	Users who like Trezor but want more security features and future-proofing

Summary:

• The Ledger Nano S Plus is the closest competitor, offering broader native coin support while keeping the price low.
• The Ledger Nano X is a premium pick for those who want wireless use and larger storage for apps.
• The Trezor Safe 3 is a natural upgrade if you like the Trezor ecosystem but want a more modern build and stronger security options.

The Model One is still one of the most affordable ways to enter the hardware wallet space, but if you anticipate needing more advanced features or a wider range of coin support, these alternatives may fit better in the long run.

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Wrapping up: Model One, Still a Worthy Pick?

The Trezor Model One stands as a wallet built on simplicity, trust, and affordability. It strips away premium frills and focuses on what matters most: keeping your private keys offline and your crypto secure. Its lightweight plastic build, small screen, and button-only navigation make it look basic, but this simplicity is exactly what appeals to beginners and those who want a reliable, no-nonsense wallet.

Where it shines is accessibility. At a low cost, users get access to strong protections like PIN, recovery seed, and passphrase support, along with the reassurance of open-source firmware that is constantly reviewed by the community. For anyone looking to store Bitcoin, Ethereum, and a handful of popular coins, it offers everything needed to build confidence in self-custody.

Of course, the Model One isn’t designed for everyone. Power users may outgrow it quickly, especially those who explore DeFi, NFTs, or newer blockchains that aren’t supported. Its small screen and lack of mobile connectivity also limit convenience for people who prefer more modern interactions. Still, for its intended audience, newcomers, long-term holders of major coins, or experienced users wanting a backup wallet, the Trezor Model One remains a smart, dependable choice.

Frequently Asked Questions [FAQs]