Trezor Model One (2014, discontinued January 2026): the original Trezor, with open-source firmware and hardware, a 0.96-inch OLED screen and two buttons, a 24-word BIP39 backup and no secure element.
Trezor no longer sells this model. The review stays online for current owners; if you are buying today, start with a model that is still on sale. See current alternatives
The Trezor Model One, launched in 2014, was the first consumer hardware wallet. Trezor stopped selling it on 8 January 2026 and promises critical security updates until at least 2036. Its firmware and hardware are open source, it uses a 24-word BIP39 backup and works with Trezor Suite on Windows, macOS, Linux and Android. It has no secure element: with physical access, the seed can be extracted by a published attack unless you use a passphrase. Transactions are not clear-signed, and Cardano, Solana, XRP, Tron and Monero are not supported. Its successor is the Trezor Safe 3.
Security notice ·
On 28 October 2026 Trezor received a report from a buyer in Indonesia of an extra circuit board inside a Trezor Safe 5 bought in August 2026 from CryptoBilis, the same Southeast Asian reseller whose Ledger devices carried hardware implants. According to the report, the board sits between the main board and the screen, reads what the screen shows, including the recovery phrase, and sends it out over a mobile network. Trezor has not yet examined the device, calls the report credible and is having the unit sent to its lab.
Trezor says it has no reports involving any other reseller and no evidence that any customer has lost funds; the person who reported the implant had already moved their funds. Trezor removed CryptoBilis from its authorized resellers on 9 October 2026.
Trezor’s advice applies to every Trezor model bought from CryptoBilis from March 2026 onwards:
The report concerns how one device reached a buyer, not the device design, so it does not change our ratings. We will update this notice when Trezor publishes the result of its examination.
Sources
Avoid buying from unofficial marketplaces — counterfeit risk.
How we rate wallets
Trezor Model One — Hardware Wallet manufacturer: Trezor (2014). Supported Networks: 47+ networks.
47 networks · 14 native · 33 third-party
The Model One keeps its seed in the flash memory of a general-purpose STM32F205 microcontroller; it has no secure element. In 2020 Kraken Security Labs showed that, with about 15 minutes of physical access and the case opened, the encrypted seed can be read out by voltage glitching and the PIN brute-forced; Ledger Donjon had published a similar attack in 2019. Trezor confirmed the attack and says it cannot be fixed in firmware, but a passphrase defeats it because the passphrase is never stored on the device. Against remote attacks the design holds up: firmware and hardware are open source, builds are reproducible, the bootloader checks Trezor's signature on every firmware, and the device wipes itself after 16 wrong PIN attempts. Because the PIN is entered on the computer by clicking a scrambled matrix shown on the device screen, the computer never learns the digits.
The Model One creates a standard 24-word BIP39 seed phrase (12 words with advanced setup), so you can restore it in other BIP39 wallets. It does not support Trezor's Shamir or Multi-share backups. You can add a passphrase of up to 50 characters to create , but it is typed in Trezor Suite on the connected computer or phone, not on the device; recovery words are also entered on the computer, in an order shuffled by the device. Trezor does not keep backups.
You use the Model One through Trezor Suite on Windows, macOS, Linux or Android, connected by a Micro-USB cable; there is no Bluetooth and no iPhone support. The 0.96-inch monochrome screen and two buttons are enough to confirm addresses and amounts, but most other transactions are shown as raw data rather than readable details, which makes it harder to spot a malicious request. The interface is in English only. Our usability and backup-ease scores are editorial estimates anchored to the Trezor Safe 3, which uses the same screen size and button layout.
Trezor Suite supports Bitcoin, Ethereum and EVM networks, and the Model One works with MetaMask, Electrum and Sparrow, including Bitcoin multisig. Unlike Trezor's current models, the Model One does not support Cardano, Solana, XRP, Tron or Monero. Buying, selling and swapping go through providers inside Trezor Suite. Trezor promises basic maintenance until at least 2031 but does not promise new coin support for this model.
Trezor Suite can route traffic through Tor, offers coin control, and can connect to your own Bitcoin node through an Electrum server instead of Trezor's servers. No account is required. Suite asks for permission before collecting anonymous usage data, and you can turn it off in settings. CoinJoin in Trezor Suite ended for all devices in June 2024. The device has no wireless radios.
Trezor's last list price was $49 before it stopped selling the Model One in January 2026; some resellers may still have stock. If you already own one, it remains usable with a passphrase and receives security updates. For a new purchase, the Trezor Safe 3 is Trezor's direct successor: it adds a secure element, on-device passphrase entry and Multi-share backup, and supports more coins.
The Model One defined the category and is still maintained: open-source firmware and hardware, reproducible builds and a promise of security updates until at least 2036 make it a reasonable wallet to keep using. Its central weakness is physical: without a secure element, anyone who gets hold of the device can extract the seed, so a passphrase is not optional for this model.
As a purchase it no longer makes sense. Trezor has stopped selling it, it lacks clear signing for most transactions, it does not support several major coins, and the passphrase is typed on the computer. Owners who want those gaps closed, and new buyers, are better served by the Trezor Safe 3.
The Model One defined the category and is still maintained: open-source firmware and hardware, reproducible builds and a promise of security updates until at least 2036 make it a reasonable wallet to keep using. Its central weakness is physical: without a secure element, anyone who gets hold of the device can extract the seed, so a passphrase is not optional for this model.
As a purchase it no longer makes sense. Trezor has stopped selling it, it lacks clear signing for most transactions, it does not support several major coins, and the passphrase is typed on the computer. Owners who want those gaps closed, and new buyers, are better served by the Trezor Safe 3.
Impermanent loss happens when asset prices in a liquidity pool diverge from external markets, reducing the value of liquidity providers' holdings compared to simply holding the assets.
A secure element is a tamper-resistant chip built to store secrets and resist physical attacks such as side-channel analysis and fault injection.
Read full definitionFault injection disturbs a chip's voltage, clock or electromagnetic environment so that it skips a security check or leaks data.
Read full definitionPIN Protection is a security feature that requires a personal identification number (PIN) to access a cryptocurrency wallet or device, preventing unauthorized access.
Read full definitionLedger is a brand of hardware wallets that securely store cryptocurrency private keys offline, such as the Ledger Nano series.
Trezor is a hardware wallet by SatoshiLabs. It stores private keys offline to secure cryptocurrencies.
Firmware is the software that runs on a hardware wallet itself: it generates keys, shows transaction details on the screen and signs.
Read full definitionA passphrase is an additional security layer for cryptocurrency wallets, acting as a 25th word in the BIP39 seed phrase, protecting access to hidden wallets.
Read full definitionRemote Key Extraction is a vulnerability where attackers steal private keys from hardware wallets remotely via exploits, without physical access.
Read full definitionA bootloader is a small program that initializes hardware and loads the main operating system or firmware on a device, often used in blockchain hardware wallets for secure startup.
Read full definitionAuto-Wipe is a security feature that automatically erases a device's data after a set number of failed login attempts, protecting sensitive information in cryptocurrency hardware wallets.
Read full definitionBIP39 is a standard for generating mnemonic seed phrases that are used to create deterministic wallets and securely back up cryptocurrency private keys.
Read full definitionA mnemonic phrase is a set of words that stores a cryptocurrency wallet's private keys, allowing users to recover access if lost.
Read full definitionA backup in cryptocurrency is a secure copy of a wallet's seed phrase or private keys. It enables recovery of funds if the original wallet is lost or damaged.
Read full definitionTrezor Suite is a software interface for managing Trezor hardware wallets, allowing users to send, receive, and store cryptocurrencies securely.
Read full definitionRecovery is the process of restoring access to a cryptocurrency wallet using its seed phrase or mnemonic backup if the original wallet is lost or inaccessible.
Read full definitionBluetooth Connectivity enables wireless communication between devices, like hardware wallets and smartphones, using Bluetooth or Bluetooth Low Energy (BLE) for secure data transfer.
Read full definitionBitcoin (BTC) is the first decentralized cryptocurrency, launched in 2009. It uses blockchain technology for secure, peer-to-peer digital transactions without intermediaries.
Read full definitionEthereum is a decentralized blockchain platform that enables smart contracts and decentralized applications (dApps). Its native cryptocurrency is Ether (ETH).
Read full definitionThe EVM (Ethereum Virtual Machine) runs smart contracts on Ethereum and on compatible chains, which share its address format and tooling.
Read full definitionElectrum is a lightweight Bitcoin wallet that allows users to store, send, and receive Bitcoin securely. It is known for its speed and low resource usage.
Read full definitionSparrow Wallet is a desktop Bitcoin wallet that focuses on security, privacy, and advanced features for managing Bitcoin transactions and keys.
Read full definitionMultisig (multi-signature) is a security feature that requires multiple private keys to authorize a transaction, enhancing protection against unauthorized access in blockchain networks.
Read full definitionCardano is a proof-of-stake blockchain platform that prioritizes research-driven development, scalability, and sustainability. Its native cryptocurrency is ADA.
Read full definitionSolana is a high-performance layer-1 blockchain platform that enables fast, low-cost transactions using Proof of History and Proof of Stake. Its native token is SOL.
Read full definitionThe XRP Ledger is a decentralized, open-source blockchain designed for fast, low-cost global payments using the XRP cryptocurrency.
Read full definitionTRON is a blockchain platform and cryptocurrency (TRX) designed for high-throughput decentralized applications, especially in content sharing and entertainment.
Read full definitionMonero (XMR) is a privacy-focused cryptocurrency that uses ring signatures, stealth addresses, and RingCT to obscure sender, receiver, and transaction amounts on the blockchain.
Read full definitionCoin Control is a feature that allows users to manually select which unspent transaction outputs (UTXOs) to use in a transaction, giving more control over privacy and fees.
Read full definitionA Full Node is a computer that stores the entire blockchain and verifies all transactions, ensuring network security and consistency in cryptocurrency systems like Bitcoin.
Read full definitionCoinJoin is a privacy technique in cryptocurrency where multiple users combine their transactions, making it harder to trace individual senders and receivers.
Read full definitionOpen Source Firmware refers to firmware in hardware devices, like wallets, where the source code is publicly available, allowing transparency, auditability, and customization.
Read full definitionReproducible Builds refer to the process where the same source code consistently produces identical binary outputs, ensuring verifiable and trustworthy software in blockchain and crypto projects.
Read full definitionClear Signing is a process in blockchain where transaction data is displayed in human-readable form before being signed, ensuring transparency and preventing blind signing risks.
Read full definitionData in this review can be verified from these sources.
Risk Score: 66/100
No secure element chip
No secure element - private keys more vulnerable to extractionLearn more →
No independent security audit
No third-party security audit on recordLearn more →
No anti-klepto protection
No anti-klepto protocol - theoretical nonce manipulation riskLearn more →
Telemetry data collection
Telemetry is present in companion softwareLearn more →
No clear transaction signing
No clear signing - harder to verify transaction detailsLearn more →
Complex initial setup
Complex setup may lead to configuration errorsLearn more →
Recorded security incidents involving Trezor, newest first, from our sourced incident tracker. They concern the brand, not only this page's model.
Wallets compared in this review
Based on specifications, price, and ratings
| Feature | Trezor Model One | SafePal S1 | Ledger Nano S Plus | Ellipal X Card |
|---|---|---|---|---|
| Price | $49 | $49.99 | $69 | $69 |
| Secure Element | ||||
| Open Source | ||||
| Battery | ||||
| Air-Gapped | ||||
| Security Rating | 29/100 | 76/100 | 75/100 | 66/100 |
| Usability Rating | 44/100 | 71/100 | 59/100 | 70/100 |
Compare Trezor with other brands: Ledger vs Trezor · BitBox vs Trezor · OneKey vs Trezor · Tangem vs Trezor
Weighing other brands than Trezor? Best Trezor Alternatives
Yes, with a passphrase. Its seed can be extracted by someone who has the device for about 15 minutes, but a passphrase is not stored on the device and defeats that attack. Trezor promises critical security updates until at least 2036.
Yes. Trezor stopped selling it on its e-shop on 8 January 2026. It keeps receiving firmware updates; the latest, 1.14.2, was released in October 2026.
The Trezor Safe 3, which keeps the small button-operated design but adds a secure element, Multi-share backup and wider coin support.
No. It stores the PIN-encrypted seed in a standard STM32 microcontroller, which is why physical extraction attacks are possible. All Trezor Safe models add a secure element.
Cardano, Solana, XRP, Tron and Monero are supported on Trezor's current models but not on the Model One. Bitcoin, Ethereum and EVM networks are supported.
No. It connects by Micro-USB to Trezor Suite on Windows, macOS, Linux or Android.
Some links on this page are affiliate links. If you purchase through them, I may earn a commission at no additional cost to you. This helps support the site and allows me to continue creating detailed, independent reviews.
Our rating methodology is evolving. Ratings and assessments will be refined as we improve our scoring framework to reflect the most accurate results.
Find the right hardware wallet based on your needs, budget, and security priorities.
