Trezor reports 300% revenue increase after FTX fiasco

[Rikafip]

If there is anything good after what has happened recently is that it seems like people are slowly realizing that centralized exchanges and other platforms are not the place to keep your crypto, hence the drastic increase in the hardware wallet sales. Its still long way to go though. but it is a good news nevertheless and who knows, maybe this won't be forgotten (like in the past) and people keep with the habit of keeping their bitcoin by themselves.

A major hardware wallet provider, Trezor, has recorded a major uptick in wallet sales in the aftermath of the FTX contagion, the firm’s brand ambassador Josef Tetek told Cointelegraph on Nov. 15.

Trezor saw its sales revenue surge 300% week-on-week and it’s still growing, Tetek reported, adding that the current sales are higher than a year ago when Bitcoin reached its all-time highs at $68,000. Trezor has also recorded a significant spike in its website traffic, which increased 350% over the same period, the exec noted.

According to Tetek, Trezor is quite certain that the uptick in new wallet users was a result of issues with FTX, a crypto exchange at the center of the latest industry scandal involving the misappropriation of user funds. The spike in demand for Trezor wallets started early last week, exactly when “rumors of the FTX insolvency started circulating,” Tetek reported.

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[Hispo]

Completely expected after this FTX disaster and also Blockfi.
Eventually people get fed up of centralized exchanges and their false promise of security and liquidity, users with big enough holdings won't even trust hot wallets endorsed by those centralized services anymore.

Good for Trezor, their wallets usually work very well and I know that after these newcomers learn how to properly use them, they don't risk the bulk of their assets on a exchange ever again.

[bittraffic]

People have been saying "not your keys, not your keys" which they only get the message when something big like FTX happens.

Yup, At least something good happens caused by FTX. People realize to get out of exchanges. Many users probably are just installing wallets and saving private keys on paper so if the Trezor is just available in local tech stores a lot of us are probably buying also.

[bitmover]

If there is anything good after what has happened recently is that it seems like people are slowly realizing that centralized exchanges and other platforms are not the place to keep your crypto, hence the drastic increase in the hardware wallet sales. Its still long way to go though. but it is a good news nevertheless and who knows, maybe this won't be forgotten (like in the past) and people keep with the habit of keeping their bitcoin by themselves.

They are not even making black friday deals! The same as Ledger.

They must be making a lot of money.
Ledger Nano price is also higher than it used to be. They do not sell the cheapest model anymore, Ledger Nano S (49.99), only the Plus version for 79 usd (whcih is basically the same with more memory for shitcoins)

[Lucius]

They are not even making black friday deals! The same as Ledger.

Both manufacturers had (or currently have) certain discounts on their devices, and there is still time to make something new before Black Friday. Although considering the moment we are in, it is not realistic to expect that the discounts will be like in the past, when with a 25% or even 35% discount, the prices of the devices themselves were much lower than today.

They must be making a lot of money.

It's just a business like any other and it is important to produce and sell as much as possible and make as much profit as possible. There's an old saying that goes something like this: "those who sell think the price is too low, and those who buy think the price is too high", and that's how it will always be.

Its still long way to go though. but it is a good news nevertheless and who knows, maybe this won't be forgotten (like in the past) and people keep with the habit of keeping their bitcoin by themselves.

We can say that there is always hope that something will change, although I am very skeptical about it. Bitcoin and cryptocurrency trading has not existed for one month or one year, but for at least 10 years, and in that period there have been dozens of serious hacks and exit scams involving CEX. Considering everything, it is easy to conclude that the majority did not learn anything from all that - and those who do not learn from the past are doomed to have the same things happen to them in the future.

[m2017]

I'm not at all surprised that the collapse of FTX boosted HW device sales. 300% is still not that much, let's see how sales of hardware wallets turn out next week when Black Friday starts. Trezor has already announced upcoming discounts, which means that there may be even more people who want to buy a HW. How well everything is going well for the hardware wallet manufacturers, the demand for devices of which has so suddenly grown. One FTX fiasco leads to so many changes in the entire industry. Trust in centralized exchanges has been lost and it looks like the end of an era (or is it?). Users will now count on themselves and store crypto in their wallets, like trezor. How long will this last and how quickly will the FTX incident be forgotten?

[Rikafip]

They are not even making black friday deals! The same as Ledger.

Well there's still a week until Black Friday so there is some time for a discount.

Ledger Nano price is also higher than it used to be. They do not sell the cheapest model anymore, Ledger Nano S (49.99), only the Plus version for 79 usd (whcih is basically the same with more memory for shitcoins)

Tbh, that's a small price to pay to sleep much better knowing that your bitcoin is safe and I can't understand how someone who has at least $1k+ doesn't want to buy one (and I know few of those). Hell, even a decent wallet where you keep your money ID/bank cards etc is not much cheaper, if any.

Both manufacturers had (or currently have) certain discounts on their devices, and there is still time to make something new before Black Friday. Although considering the moment we are in, it is not realistic to expect that the discounts will be like in the past, when with a 25% or even 35% discount, the prices of the devices themselves were much lower than today.
e is too high"[/i], and that's how it will always be.

Few weeks ago Trezor had 15% discount for their One and T models that ended 10 days ago so who knows, maybe this year's Black Friday deal will be on the last year's levels. In the end, who cares about 15-20 dollars more or less if you plan to store thousands of dollars worth of crypto. As a matter of fact, I bought mine when I had only few hundreds of dollars crypto left as I lost 90% of my bitcoin due phishing. Lesson learned the hard way.

We can say that there is always hope that something will change, although I am very skeptical about it. Bitcoin and cryptocurrency trading has not existed for one month or one year, but for at least 10 years, and in that period there have been dozens of serious hacks and exit scams involving CEX. Considering everything, it is easy to conclude that the majority did not learn anything from all that - and those who do not learn from the past are doomed to have the same things happen to them in the future.

Biggest "issue" is that in a 2-3 years the whole new generation of people will enter crypto and for them all that has happened with FTX and other platforms will be a distant memory. And since people often don't learn from their own mistakes let alone others, they are bound to do them.

[stompix]

They must be making a lot of money.
Ledger Nano price is also higher than it used to be. They do not sell the cheapest model anymore, Ledger Nano S (49.99), only the Plus version for 79 usd (whcih is basically the same with more memory for shitcoins)

But it's not like they raised the price now, €79 was for sure the price back in at the begging of the year when I ordered one, everything is getting more expensive if they raised the price by 10$?? it's a bit understandable.

That being said I would advise everyone to get one now, not just for the security but with the avalanche of orders nobody expected they might not only rise the price but also run out of them for a month or so till they order more as I don't think they keep tens of thousands in stock.  Also, don't forget to order it with a different phone and a different address than your own, the nano might keep your coins safe, but ledger (the company) is not that safe with your personal data 

But this is really good news, it means at least some have realized the danger, even if just a few hundreds as we don't know what 300% might be, 60 more sales or 6000, it still means fewer victims when the next collapse will happen, and unfortunately, it will, just like earthquakes, everyone knows one will happen sooner or alter but almost everyone is caught by surprise when it does!

[Lucius]

Biggest "issue" is that in a 2-3 years the whole new generation of people will enter crypto and for them all that has happened with FTX and other platforms will be a distant memory. And since people often don't learn from their own mistakes let alone others, they are bound to do them.

Not only in 2-3 years, they keep arriving constantly, but they will still be the most in the next big bull run when Bitcoin will again become a hot topic everywhere. Those who want short-term profit will not buy hardware wallets anyway, because for them some CEX will be a good choice to keep their coins for a few months - of course, if they don't have the misfortune of having that company fail at that moment.

[n0nce]

Biggest "issue" is that in a 2-3 years the whole new generation of people will enter crypto and for them all that has happened with FTX and other platforms will be a distant memory. And since people often don't learn from their own mistakes let alone others, they are bound to do them.

That's why the exact same thing keeps happening every single year (larger exchanges more like every 2-3 years) almost since the inception of Bitcoin.
After the hack / exit scam / insolvency, there is a big push towards self-sovereignty, only for people to fall back to the next 'we are not like the others' centralized exchange a while later.

Some people hold their crypto assets on exchanges, it is very dangerous, previously many exchanges have been hacked.
I advise You should keep your crypto assets in your personal wallet because the exchange is not safe.


Hacked Exchanges

Name	Date	Loss
_______________________________________________________________________________	______________	________________________
[...]
Bitcoin7 Exchange	Oct 2011	11,000 BTC

[PrivacyG]

I only wish there was more mainstream coverage of the 'not your keys, not your coins' narrative to push forward a healthy Bitcoin education to everyone.

We do have a ton of new members every month here, but I doubt we get even half or a quarter of Binance's monthly new users.  With that being said, unless the message goes out through all channels this is a loop Newbies will unfortunately have to suffer from.  Bitcoin Talk does not earn enough attention to make a change.  I think it is pretty apparent at least that most of our members have learned the lesson and understand now why self custody is the most important.

We already have a trillion articles on the Web promoting Shitcoins.  If only 5% of the articles covered a healthy Bitcoin education by hyping up self custody and putting fear under the idea of storing Bitcoin in Custodial Wallets or Centralized Exchanges, there may not be as many victims every Exchange hack.

-
Regards,
PrivacyG

[NeuroticFish]

We already have a trillion articles on the Web promoting Shitcoins.  If only 5% of the articles covered a healthy Bitcoin education by hyping up self custody and putting fear under the idea of storing Bitcoin in Custodial Wallets or Centralized Exchanges, there may not be as many victims every Exchange hack.

Selling shitcoins is a good business. Not a honest one, clearly. It attracts, because people's greed is bigger than their brain and it pays (from the poor souls' money).
Promoting shitcoins... some many promoters are getting scammed, some few may get paid, but for every one disappointed and leaving the business, 10 others come filled with hopium.
Just look at the shitcoin bounties, no matter if they're targeting bitcointalk or the social media platforms.

On the other hand, honest businesses don't have unlimited money for advertising (although I would love to see Trezor signature campaigns here, for example) and since they don't have the possibility of doing scam-rinse-repeat cycles like the shitcoins, their visibility is limited.
On bitcointalk some try to tell the correct ways, but really, the vast majority don't care to read, just jump in for the promises the shitcoins bring.

[joniboini]

While the narrative of not your keys is not that strong, I also think it has something to do with the way people behave in general. Sometimes you just need to get it to happen to you before you take the lesson seriously. Hopefully, stuff like this no longer needs to happen, most wallets are cheap and not difficult to use. I have a family who was not even considering a wallet (software included) because they can sell easily on an exchange, so he's been using an exchange address to store his crypto. Thankfully he read the news and decide to buy one soon.