Accessing your Trezor
Learning objectives
Connect a trezor to you computer
Enter the pin to access your wallets
View your wallet receive and send addresses
Confirm a send transaction
Connecting a trezor
Plug your trezor into the USB cable and connect it to your PC, you will see an image on your trezor device, this maybe different on your device. It can be changed in the settings.
On my PC I have a window that is prompting me to visit trezor.io to connect.
The trezor.io site looks like this, correct at time of writing.
If you haven't updated or installed the desktop app, click the arrow and select the version required for your PC.
I am using a Windows 10 laptop so I will pick that installation file and install the software. You may need the administration password depending on how your system has been setup.
After the software has been installed it will be available from the Start menu
Click the button to launch the application, if you prefer you can use the web version instead using the Trezor Suite for Web link in the trezor.io website.
You will be prompted to enter your Pin, this would have been setup when you originally installed the Trezor from new. I will cover that in a later post.
When you setup your trezor you would have entered a pin number to make accessing the accounts easier, you need to enter your pin using the position of the numbers on the trezor.
On your trezor will be displayed a nine box grid with the numbers 1 to 9 randomly displayed, you need to look at the trezor to find the position of the number and then click the same box position on the Enter PIN screen in order to gain access to your account.
When you have access to your trezor you can view your accounts
Receive Bitcoin
To Receive Bitcoin you need to provide the wallet address, either as the string of characters and numbers or a more convinient QR code that can be scanned to extract the address code.
Press the receive button, you may have to enter your PIN again when accessing this option.
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Check the code on the screen matches with the Trezor screen aswell.
Sending Bitcoin
If you wanted to send Bitcoin to another wallet then you click the Send button to display the following screen.
In the Address field, paste the receive address or scan the QR code of the person or company you want to send bitcoin to.
Enter the amount of bitcoin (BTC) to send, or enter the value in Dollars or other currency
You can send bitcoin to multiple addresses in the same transaction by clicking the Add Recipient button, doing this could save you on transaction fees.
Finally, you should select the Fee, this will govern how fast the transaction will be processed. High fee transactions are prioritized by the blockchain and will arrive faster but comes at a cost.
Low = Estimated time about 5 hours Fee rate1 sat/B
Normal = Estimated time about 1 hour Fee rate 6 sat/B
High = Estimated time10 minutes Fee rate 10 sat/B
After you have completed the form, you press Review & Send, this is where the trezor comes in as it will take the information you have provided and using software on the device allow you to review your request and digitally sign the transaction.
I will move a small amount of bitcoin to my Trezor and perform this Sending action so I can take a picture of the confirmation steps on the device.
Typical example will be buying bitcoin on an exchange or ATM, transfer the bitcoin to the Trezor hardware wallet to hodl (hodl is the term used to hold crypto).
Wait until the market price is high enough to make some profit then send the bitcoin back to the exchange to sell and send the funds to the bank, or send the crypto to a coinbase wallet and spend using thier pre-paid visa card.
Summary
We have connected our Trezor to a laptop
Installed the necessary software
Launched the Trezor Suite, connected the Trezor and entered our pin
Found our wallet receive address and confirmed the address on the trezor
Looked at the send screen for how to transfer bitcoin to another wallet
Next Steps
Load some bitcoin onto the Trezor and show and example of how to send.