Not happy about my first hardware wallet purchase

decodx

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

I do not agree with your statement since it does not match my experience. You cannot claim that the Trezor hardware wallet works with just a few coins because that is simply not true. If you could let us know which coin you are having trouble with, we could understand your situation better.

ultrloa

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

If you tend to prefer to hold bigger amounts of major altcoins then you should grab a hardware wallet but id ypu are just a regular imvestor which your balances is enough for flippin up then regular wallets like electrum will be good or rather exodus wallet. But anyways next time ask all information you need before purchasing something because it can help you decide what is right for you.

Stalker22

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The hardware wallet can only run a certain number of apps at the same time due to memory constraints and malware prevention. But that doesn't mean you can't remove some apps and add new ones as you wish. Since BIP 39 was implemented, you can install and uninstall them as you wish without losing the coins in the wallet.

If you remove, for example, the Dogecoin app from your wallet and then restore it after a while, BIP39 will generate the same private and public addresses and you will be able to access all the coins that were available before removing the app, including the coins that came in while the application was uninstalled.

gagux123

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

Hmm, well... I don't know if you researched the Trezor's specs before buying it, these kinds of things need to be done so that no problems occur in the future.

I don't have the knowledge to properly explain, as I've never owned a Trezor.

With the Ledger Nano S, it also has this ""problem"" that you said, it only has 138kb (if I'm not mistaken in capacity) and therefore, I can only use between 3 to 4 coins simultaneously, in case I wanted to store some other cryptocurrency, I need to uninstall it and after that, the new crypto asset will be installed in the wallet.

bill gator

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins,

If Trezor was misleading about it's specifications or capabilities we would be more inclined to support you on this; the trouble is that their products do exactly as stated.

Help me understand, did you purchase a hardware wallet for your cryptocurrency without first checking that you could store your cryptocurrency in it? That should be the absolute bare minimum when choosing a wallet.

If you were downloading a wallet wouldn't you first check that it's the correct wallet?

If I understand your problem, this level of inattention is going to cause you trouble in the cryptocurrency space and I suggest that you become more comfortable with being responsible for triple-checking everything for yourself before making a move.

pakhitheboss

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Trezor is the first open-source, noncustodial hardware wallet. The only disadvantage that I found out about Trezor is that it has a small display. Regarding the number of cryptocurrencies, it supports you need to check this list. You cannot expect them to support every shit coin that is listed on CMC. Even exchanges also follow the same method. Also, it would have been easier for everyone here to understand the reason for your rant if you had pointed out which cryptocurrency is not supported by the wallet.

PrivacyG

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This was public knowledge. Can find the specs and the list of supported coins on their official website. It does state it supports over a thousand coins, but I admit it is kind of misleading since it mostly supports ERC-20 and Binance Smart Chain Tokens. Other than these, only a handful of Altcoins are supported. Still, it was right there.

For lots of non ERC-20 and Smart Chain shit coins, Ledger is a far better choice. But still, you should not regret your choice. Trezor is a far better choice for security. Ledger is partially closed source and collects a ton of intrusive data on you.

-
Regards,
PrivacyG

Husires

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

if you talk about running more than 5 wallet at the same time it is not an issue, you can delete and reinstall them again as needed.
you can have some main coins, BTC, ETH, BSC, and some main blockchain.
With these addresses, you can manage thousands of tokens, and if you want, you can delete any wallet without fear of losing the balance.

Hardware wallets are designed to hold for the long term, and most altcoins fail to maintain their value in the long term.

jackg

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Quote from: NeuroticFish on March 31, 2022, 10:00:51 AM

On my Nano S I have very limited storage. If I want to install the 3rd or 4th coin, I have to uninstall some. That's what I was referring to, I don't know if it goes the same with Trezor.
Obviously not all the coins are covered, but I find rather strange to see one disappointed by the so small number of coins, when that's 1800+.

From what I see @DdmrDdmr did understand my point.

On trezor, you have to select the coins you want to be able to use when you access your wallet via trezor suite.

There are mostly major altcoins supported as well as erc20 tokens and other supported tokens.

It'd have been a lot more helpful of op had included a list of coins they expected to be able to use with the trezor.

NeuroticFish

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Quote from: examplens on March 31, 2022, 09:30:54 AM

Quote from: NeuroticFish on March 31, 2022, 09:14:40 AM

I don't have Trezor, but there may be that you just have to uninstall one coin's wallet app so you can install the next one.

it is not possible to independently install a wallet coin that is not supported by the official firmware of Trezor Wallet. (Or maybe I miss something).
For certain coins, the wallet is not available directly through the Trezor suite app itself. but it is possible to manage them through other wallet services like Electrum, Exodus, MyCrypto etc... therefore they are not directly visible in the dashboard of the application, but can be stored with the help of a Trezor wallet.

On my Nano S I have very limited storage. If I want to install the 3rd or 4th coin, I have to uninstall some. That's what I was referring to, I don't know if it goes the same with Trezor.
Obviously not all the coins are covered, but I find rather strange to see one disappointed by the so small number of coins, when that's 1800+.

From what I see @DdmrDdmr did understand my point.

examplens

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Quote from: NeuroticFish on March 31, 2022, 09:14:40 AM

I don't have Trezor, but there may be that you just have to uninstall one coin's wallet app so you can install the next one.

it is not possible to independently install a wallet coin that is not supported by the official firmware of Trezor Wallet. (Or maybe I miss something).
For certain coins, the wallet is not available directly through the Trezor suite app itself. but it is possible to manage them through other wallet services like Electrum, Exodus, MyCrypto etc... therefore they are not directly visible in the dashboard of the application, but can be stored with the help of a Trezor wallet.

qwertyup23

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

I personally think it is imperative to do your research before you purchase something, as this principle can be applied to every purchase you made. Given the complexity of cryptocurrencies, it is your responsibility to at least check and do some research if you have some coins which may or may not be supported fully by Trezor hardware.

More importantly, I think this serves as a warning to everyone that before you guys purchase something, make sure that everything is compatible with your coins. If it really does bother you, then convert your altcoins to a token or to another altcoin that supports the Trezor hardware.

Little Mouse

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I don't know how Trezor works as I haven’t used trezor yet but you should know that it's possible that there are only a few coins there by default and you will have the option to add more. I don't know if that's the way in trezor but that's how a safepal hardware wallet works. I have to add coins manually to see them on the list. Share the problem in details and also which coins are missing. Community can help you if you share everything in details.

NeuroticFish

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Quote from: Takyeon on March 31, 2022, 08:38:53 AM

After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

I think that it may be a misunderstanding.
My advice is you go to Hardware Wallets area, state your HW and your problem. Maybe somebody can help you.

I don't have Trezor, but there may be that you just have to uninstall one coin's wallet app so you can install the next one.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

They allegedly support 1816 coins and tokens between their models, being the better known ones on that large list. Other lesser known ones may not be amongst them, although theoretically all ERC-20 tokens are supported:

Quote

Trezor firmware supports ERC20 tokens since firmware version 1.5.0 (for more information, see this blog article).
Every ERC20 token can be stored using Trezor device. Some of the ERC20 tokens will not be recognized by Trezor firmware, but they still can be stored and sent using Trezor. User has to specify the address path of this token, and it will be shown as "unknown token".

See https://wiki.trezor.io/ERC20_tokens

Edit (after reading the psot below): Unless you mean very few coins simultaneously, which is a different matter and common to some other hardware wallets.

Takyeon

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After all the advice on hardware wallets I went out to buy a Trezor hardware wallet only to find out that it only works with very few coins, if this doesn't suck to you I don't know what will.

Topic: Not happy about my first hardware wallet purchase (Read 146 times)