Trezor wallet was first presented in 2014 by a company settled in the Czech Republic, known as SatoshiLabs. It’s the first cryptocurrency hardware wallet, i.e. a digital wallet that stores your private keys in a secure hardware device.Trezor is essentially a miniature device, with a size of a keychain or thumb, and you can easily connect it to your computer with a USB cable. The fact that it stores your crypto assets offline in cold storage makes Trezor wallet more secure than other wallets, even if you connect the device to a malware-infected computer.Trezor supports ERC-20 tokens and more than 2,000 additional cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Zcash (ZEC), Bitcoin Cash (BCH), and DASH. This hardware wallet is compatible with Windows, Mac, and Linux operating systems.In this article, we’ll explain to you how to set up your Trezor wallet and how to use it to store and sell your cryptocurrencies. We’ll also present you with the two different models of Trezor and discuss the differences between Trezor and its main competitor, Ledger.Bitcoins and dollar in shopping cartHow Does a Hardware Wallet Work?Hardware wallets provide offline storage for your private keys. Using your hardware wallet, you can access the blockchain on which your digital currencies are stored and use the keys to verify your access to your cryptocurrency balance.The other function of the private keys is to allow you to sign and verify the blockchain transaction. They play the role of a digital signature that signs off the transaction on the blockchain. There is no way that you can forge the private key, due to the fact that they’re a one-of-a-kind chain of random numbers and characters.Your private keys are kept in the wallet and secured with a PIN code and an elective passphrase. This means that in case of losing your hardware wallet, no one will be able to access the key and use it to steal your assets. If your hardware wallet gets lost, you can re-generate the private keys using the 24-word recovery seed that you get when setting up your hardware wallet (in this case Trezor wallet ). That’s why you have to write the recovery seed down immediately and keep it in a secure place.You can recover your wallet using the passphrase or the 24-word seed by using another Trezor wallet or different wallets, such as Electrum or Mycelium. The process is quite simple: you plug the Trezor into the USB port and you unlock it using your pin. Next, you create a transaction and verify it using the private keys of the wallet.How to Set Up TrezorBefore you start using the Trezor wallet, you have to know how to set it up. Luckily, this process isn’t complicated at all, and it’ll take you approximately 10 to 15 minutes. To get started, follow these simple steps:Connect Trezor wallet to your computer with a USB cable.A Lock icon will appear on the wallet’s screen. Click on it, then visit trezor.io/start.Read how the 24-word recovery seed and the PIN code work.Go to wallet.trezor.io and install Trezor Bridge or Trezor wallet Chrome Extension if you want your Trezor device to interact with your online Trezor wallet from where you send the transactions.Click on “Yes, Install” in order to start the installation of the firmware for the first time. Compare the firmware fingerprints on the Trezor with the one on the display on your computer’s screen, and if they are the same, you can click “Continue” on the Trezor device.Now you have to unplug the Trezor from your computer, plug it in again, and go to wallet.trezor.io to name your Trezor device.Set up a PIN code for your Trezor wallet. On the computer screen, you’ll see a 3×3 grid (with dots), and you’ll see the same grid on the Trezor device as well, but with numbers instead of dots. Enter the numbers that you want to represent your PIN on Trezor’s grid, and transfer the exact position of these numbers in sequence onto your computer. Confirm your PIN code twice.Finally, the Trezor wallet will show the 24-word recovery seed, and you are finished.