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Author Topic: Best way to stor eth in the Trezor wallet?  (Read 85 times)
KHamilton (OP)
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June 20, 2021, 06:12:38 PM
 #1

I am trying to transfer Ethereum from my Coinbase account to my Trezor wallet. When I select Ethereum, it asks me to select a wallet. The choices are Trezor's Ethereum wallet, Trezor Suite, MyEther Wallet, and MyCrypto. My first mind is to select Trezor's wallet, but when I go there, it says something about Beta testing, and that there could be bugs/glitches, etc...Is this a safe option in terms of storing my eth? Should I select a wallet that's beyond the experiemental/beta testing phase? Are there any risks? Which is the best option?
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June 20, 2021, 06:17:59 PM
 #2

I think I've only been offered metamask or myetherwallet. Both of those seem robust and well tested but metamask requires a plugin install (myetherwallet can just use the bridge) but metamask let's you access your accounts without plugging in your trezor (you can spend/sign anything until you plug it in too).

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June 20, 2021, 06:29:15 PM
 #3

I am trying to transfer Ethereum from my Coinbase account to my Trezor wallet. When I select Ethereum, it asks me to select a wallet. The choices are Trezor's Ethereum wallet, Trezor Suite, MyEther Wallet, and MyCrypto. My first mind is to select Trezor's wallet, but when I go there, it says something about Beta testing, and that there could be bugs/glitches, etc...Is this a safe option in terms of storing my eth? Should I select a wallet that's beyond the experiemental/beta testing phase? Are there any risks? Which is the best option?
Trezor Suite software is open source, it is soon coming out of beta, I think probably like they announced in next month, and it is working perfectly even now without any glitches.
You can also connect Trezor with Metamask but I don't like that wallet and I think you can only use it with Firefox browser now, and latest version of Chrome is not working at least for Ledger wallet.
Alyways try to use Open Source and tested wallet.

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RickDeckard
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June 20, 2021, 06:33:58 PM
 #4

I think that, at the moment, Trezor offers two options for you to store ETH:

  • Using their Beta Wallet (which seems the one you saw) - You can find all the options that you're able to do if you plan on using this wallet - https://wiki.trezor.io/New_cryptocurrencies_in_Beta_Wallet
  • By using a third party cryptocurrency wallets - This is also possible but in this case the website will generate your ETH addresses directly on your Trezor device. For this you should avoid choosing the option " GENERATE A NEW WALLET" in such third party wallets - such as MyEtherWallet. You can find more information here about it - https://wiki.trezor.io/Apps:MyEtherWallet

Regarding your initial question - if it's safe or not - the security is mostly focused on your device - the website just provides you a interface. Since they still aren't done improving the beta wallet they just continue calling it like that, but that in no way exposes you to risks regarding your funds (providing you access the official website and don't give out your seed phrases).

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The Cryptovator
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June 20, 2021, 06:40:09 PM
 #5

I won't encourage you to use the beta version although it's working fine. Beta means it's testing mode, so there is the possibility of existing bugs. If your fund is big then I will encourage you to buy a hardware device rather than using any wallet software or web wallet either it's created by Trezor or Ledger. Just secure your funds from hackers. If wallet software or web wallet was much secure then there wasn't necessary to discover hardware wallet. So the safest way is to use a hardware wallet.

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sunsilk
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June 20, 2021, 11:18:08 PM
 #6

You can create a MEW or Mycrypto wallet and transfer your ETH there in the meanwhile. And once you're done, then you transfer it to your Trezor ETH wallet afterward.

If it says that it's still in a beta phase, I'll not choose to use it to avoid possible problems as it's still in the test phase.

KHamilton (OP)
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June 21, 2021, 12:01:49 AM
 #7

I won't encourage you to use the beta version although it's working fine. Beta means it's testing mode, so there is the possibility of existing bugs. If your fund is big then I will encourage you to buy a hardware device rather than using any wallet software or web wallet either it's created by Trezor or Ledger. Just secure your funds from hackers. If wallet software or web wallet was much secure then there wasn't necessary to discover hardware wallet. So the safest way is to use a hardware wallet.

Thank you; I do have the hardware wallet (Trezor) but when I try and make the transfer from Coinbase, it asks what wallet (the options I mentioned) do I want to store it in. It looks like it some coins, Trezor takes you to another online wallet that is used to interface with your coins. Or something.  
KHamilton (OP)
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June 21, 2021, 12:11:45 AM
 #8

I think that, at the moment, Trezor offers two options for you to store ETH:

  • Using their Beta Wallet (which seems the one you saw) - You can find all the options that you're able to do if you plan on using this wallet - https://wiki.trezor.io/New_cryptocurrencies_in_Beta_Wallet
  • By using a third party cryptocurrency wallets - This is also possible but in this case the website will generate your ETH addresses directly on your Trezor device. For this you should avoid choosing the option " GENERATE A NEW WALLET" in such third party wallets - such as MyEtherWallet. You can find more information here about it - https://wiki.trezor.io/Apps:MyEtherWallet

Regarding your initial question - if it's safe or not - the security is mostly focused on your device - the website just provides you a interface. Since they still aren't done improving the beta wallet they just continue calling it like that, but that in no way exposes you to risks regarding your funds (providing you access the official website and don't give out your seed phrases).

Thank you so much! I'll visit the sites you recommended.
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June 21, 2021, 07:56:06 PM
 #9

Thank you so much! I'll visit the sites you recommended.
As always, make sure you always triple check the websites you use so that you avoid any scammer attempt to trick you into giving them your private keys / seed phrases.

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