Cryptocurrencies are cryptographically secured assets storing some kind of value; however, they still should be protected accordingly as exchanges are not auto-immune to sophisticated or brute attacks. Cryptocurrencies are based on the public-private key asymmetric cryptography. This cryptographic method is one of the most secure ones, however a private key is a random string of signs very difficult to remember, therefore it should be stored somehow. The best way to avoid possible negative consequences is to store the private key offline via hard-wallets or in Trezor – a specific device for storing the keys outside the online environment. Its intuitive and user-friendly interface is ideal for crypto experts and cryptos tyros as well.
The Capricoin development team has integrated Trezor Model T to protect Capricoin digital keys via this device. There are several reasons why Trezor is the best choice. Its primary role is to safely store the private keys; Trezor employs three basic security layers:
- randomly generated recovery seed
- user-created PIN
- and passphrase feature
All three layers make Model T an airtight device and provide a shield from unauthorized physical access.
The 4-digit PIN code and the passphrase are entered exclusively on the device´s touch-screen, hence any communication with the hosting computer is disabled until the correct PIN code is entered. Any operations with private and public keys are allowed only after a successful user authentication via PIN code. This makes the hardware wallet even more secure.
Model T can also serve as an U2F hardware token using its screen to inform users about the request for authentication before they will be approved. In this way, Trezor Model T protects users twice from various kinds of cyber-attacks.
Passwords are never stored or remembered on the device and they are individually locked and encrypted with the Trezor Password Manager.
The User’s wallet is always accessible via a personal 12 to 24 words recovery seed. In case you ever lose your device, you can directly recover your entire wallet by using the 12-word recovery seed. Remember you should write your recovery seed on a piece of paper with a lasting marker and store it on a safe spot. We strongly recommend not to make any digital copies of your recovery seed and never store it on your computer. The Online environment is a very vulnerable place for storing such sensitive data.
Apart from the aforementioned features the Trezor’s software is an open-source, hence everyone can see its code, help to improve it or ascertain that it well.
How to set up the Trezor?
Trezor enables users to secure their crypto assets, sign transactions, and manage their digital identity. Despite its very sophisticated protection methods its usability and installation remains user-friendly.
Capricoin users can find a short and easy tutorial about how to set up their Trezor here: Trezor Model T tutorial
For more information visit the web page: https://trezor.io/
Capricoin Blockchain browser:
Capricoin official website: