Trezor: Success for the First Bitcoin Hardware Wallet Company

Trezor: The First Bitcoin Hardware Wallet Company’s in News

Trezor Sees 600% Rise in Weekly Sales as Bitcoin approaches $100K

Trezor, founded in 2013, is the first Bitcoin hardware wallet company. It has recently reported sales increase of 600%. This is much of a consequence of the November US elections that led Trump to victory. Trezor has further recorded its higher-ever daily sales.

Trezor – The First Bitcoin Hardware Wallet Company

Trezor has been empowering individuals to secure their cryptocurrencies through its open-source device. This pioneering of the development of the self-custody of crypto assets is allowing individuals gain better control of their financial future.

Factors that Have Led to Trezor’s Historic Achievement

The recent achievement of the milestone for Trezor has resulted from the price surge of Bitcoin. Apart from this bull run start, there are other factors too. These include increased interest in cryptocurrencies and the move from centralized exchanges (CEXs) to self-custody.

The historic sales week appeared right after the November 5 US presidential elections. The 600% rise in weekly sales is extraordinary compared to the previous 6-month average. It was November 22, Friday when the sales was at its best. This 11 times higher sales achievement has been referred to as “Ledger Recovery.”

What Does the Trezor’s Chief Commercial Officer have to Say?

Danny Sanders, Trezor’s Chief Commercial Officer, gives credit to Bitcoin becoming the talk of the town during the US elections. He also credits this milestone to show the growing interest of cryptocurrency among individuals. He has further highlighted the importance of self-custody amid the recognized risks of leaving assets on centralized exchanges that has left many exchanges collapse in the past. As per Danny, their expanded product range are easier to use for people new to hardware wallets.

A Shift to Self-custody as Bitcoin Reserves Drop

Moreover, the shift to self-custody is even evident from the Bitcoin exchange’s reserve drop to its lowest in six years. 2024 has itself seen investors withdraw around 427,000 BTC from CEXs. While that is worth $40 billion, the shift appears to result from the failures of CEXs, uncertainty of regulatory practices, as well as increased awareness among individuals.

It is in these scenarios that Trezor, as it claims, has remained committed to the surety of the control of users over their funds.

Trezor’s Committed Efforts

The new product line is yet another contributing factor, which includes Trezor Safe 3 and Trezor Safe 5 apart from Trezor Model One. New innovations have garnered much attention for their user-friendly interface, robust security and sleek modern design. The products can be a lasting solution for secure wallet backups and enable both newcomers and experienced ones have greater control of what truly belongs to them.

Meanwhile, Trezor has committed to empowering users through transparency, offering hardware and software products to protect users. Trezor has taken initiatives to educate Africa’s grassroots communities on interacting safely within the Bitcoin ecosystem. It is also part of SatoshiLabs, that’s a technology holding company with stakes in Bitcoin as well as crypto companies.