Our take
Historically vulnerable to physical/supply-chain attacks that require the device and specialized equipment (mitigated by using a passphrase), a known trade-off of its secure-element-free design. Firmware is fully open-source, which is Trezor's core transparency argument versus Ledger.
Pros & cons
Pros
- Fully open-source firmware — independently auditable
- Very low price / accessible entry point
- Long track record as one of the first hardware wallets (since 2014)
- Simple, proven design
Cons (the real ones)
- No secure element chip
- Does not support some assets (e.g. XRP, SOL, ADA, XMR)
- No touchscreen; two-button interface
- As of Jan 2026 SatoshiLabs pulled the Model One from its own store (still available via resellers)
Specifications
| Maker | Trezor (SatoshiLabs, Prague, Czech Republic) |
| Price | ~$49 USD MSRP |
| Assets supported | ~1,000 |
| Connection | USB (wired only) |
| Companion app | Trezor Suite (desktop and web) |
Security
- fully open-source firmware (auditable)
- PIN protection
- passphrase support
- no dedicated secure element (relies on general-purpose MCU)
Before you buy
Buy only from the manufacturer's own store or an authorised reseller, and never a device that arrives with a recovery phrase already filled in — that is a known scam. Expect phishing: since Ledger's 2020 customer-data leak, fake “security update” emails and even posted letters asking for your recovery phrase have been common. No genuine company will ever ask for it. In October 2026, devices sold by one authorised Ledger reseller were found to carry a hidden implant: see how to buy a hardware wallet safely. Our guide on securing your crypto covers the rest of the setup.
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Trezor Model One: quick answers
How much does the Trezor Model One cost?
~$49 USD MSRP. Prices change with promotions, so check the official store before buying, and only buy from the manufacturer or an authorised reseller — never second-hand.
Is the Trezor Model One safe?
fully open-source firmware (auditable); PIN protection. No secure element chip. A hardware wallet removes exchange counterparty risk, but you remain responsible for your PIN and backup. Not financial advice.