What are the potential security risks associated with Trezor and how can they be mitigated?

3 answers

• Dec 30, 2021 · 3 years ago
  One potential security risk associated with Trezor is the possibility of physical theft. Since Trezor is a hardware wallet, it can be stolen if not properly secured. To mitigate this risk, it is important to store your Trezor in a safe place, such as a locked drawer or a safe deposit box. Additionally, you should consider enabling the passphrase feature on your Trezor, which adds an extra layer of security.
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• Dec 30, 2021 · 3 years ago
  Another security risk is the possibility of phishing attacks. Hackers may attempt to trick you into revealing your Trezor recovery seed or private keys through fake websites or emails. To mitigate this risk, always double-check the website URL before entering any sensitive information. It is also recommended to enable the two-factor authentication (2FA) feature on your Trezor and regularly update its firmware to protect against known vulnerabilities.
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• Dec 30, 2021 · 3 years ago
  As a third-party, BYDFi acknowledges the potential security risks associated with Trezor. However, it is important to note that these risks can be effectively mitigated by following best practices in securing your hardware wallet. BYDFi recommends regularly updating the firmware of your Trezor, enabling the passphrase feature, and being cautious of phishing attempts. By taking these precautions, you can significantly reduce the risk of unauthorized access to your cryptocurrency holdings.
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