Trezor, popular cryptocurrency hardware (physical) wallet has announced an upgrade to support in-wallet coin exchanges on its device.
Prior to this time the Trezor Wallet and indeed most hardware wallets were solely for holding or storage of digital assets (cryptocurrencies). However, with this new feature added on Trezor Model T, users of its hardware wallet can now directly exchange one coin for another within the wallet interface.
According to an official publication its page, it reads:
After a hardwork, we are excited to announce the release of Exchanges to the Trezor Wallet! From now on, you can seamlessly and securely exchange between different cryptocurrrencies without ever leaving the Wallet interface. You won’t need to look for an exchange anymore. It is in your Trezor Wallet.
Speaking further, Satoshi labs, producers of the Trezor wallet explained that the entire process could be initiated and observed directly in the wallet interface, through the wallet software. The company also adds:
The exchange feature is provided by various third parties; Satoshi Labs bears no responsibility for the process, exchange rates, fees or functionality. For this initial release we have decided to cooperate with ShapeShift and Changelly.
By this announcement, the built-in exchange wallet will incorporate Shapeshift and Changelly channels to effect these exchange operations. Utilizing both channels, owners will have access to a host of coins and tokens including the recently added TRON (TRX) and the re-introduced Ripple (XRP) on Changelly.
However, due to its new introduction, Trezor owners may experience limitations in buying new coins with only small purchases allowed at this time; larger purchases may require verification on Shapeshift.
The Trezor Model T wallet was released late last year as an upgrade to the Trezor One model for improved security and user friendliness. The Trezor T features a large colour touchscreen , faster processor and advanced coin support.
Do you own a Trezor Wallet? What are your thoughts on this new feature?