Trezor Users Can Now Exchange Cryptocurrencies Directly In-Wallet

Neutral Trezor Users Can Now Exchange Cryptocurrencies Directly In-Wallet

This week the hardware wallet Trezor added the ability to buy and trade cryptocurrencies within its beta wallet's interface. Now users can swap between eleven different digital assets without the possibility of compromising funds by leaving them on an exchange. Also read: The Bitcoin Files Protocol Provides a BCH Secured File Storage System

Trezor Hardware Wallet's Beta Version Allows Users to Buy & Trade Digital Currencies

Users can now swap cryptocurrencies from within their Trezor hardware wallets by using the firm's beta wallet. The beta wallet is almost identical to the traditional user interface but it contains different features not yet added to the main Trezor client. On September 19, Trezor on Twitter, "Our beta servers now allow you to exchange cryptocurrencies directly in the Trezor Wallet interface." The wallet's new exchange section allows users to purchase cryptocurrencies from exchanges, and swap their existing digital assets on the same trading platforms.

When entering the beta page, it's basically the same as the main client and you will have to plug in your Trezor and login to use the new features. Once inside the wallet, on the top right side of the screen there's a new 'exchanges' tab.

If it's a person's first time using the exchange feature, they have to agree to a disclaimer that states basically all the trades made is between the assets' owner and the third party trading platform. The digital asset exchanges available on the Trezor platform include Changenow, Coinmama, Changelly, Paybis, and Coinswitch. The wallet's users can swap BCH, ZEC, XRP, LTC, BTG, XMR, DASH, DOGE, BTC, ETH, ETC, and XMR.

Trezor Exchange Feature is Optional and the Trading Platforms Might Run KYC

A representative from Trezor the company won't be running any Know Your Customer (KYC) requirements for the new feature. "Just to clarify, we won't run KYC - The exchanges might. (We do not offer exchange services, they all go through third parties.)," the team's marketing manager details on Twitter.

It's an optional service. If KYC will be enforced by those services, user will know it and can refuse to continue - Decentralized exchanges are, of course, being evaluated.

The Trezor hardware wallet will be joining Keepkey as the Shapeshift owned manufacturer's hardware wallet also enables cryptocurrency swaps in-wallet as well. Keepkey owners have the ability to use Shapeshift by selecting a currency in their wallet they would like to trade with the other digital assets offered in the drop-down menu. With Shapeshift changing its business model to a membership service, it is uncertain how it will affect its compatibility with Keepkey. Ledger Wallet does not provide any exchange or trading services in any of its hardware models. However, there is a section in the Ledger Live platform that shows a Buy/Trade tab but the browser redirects the user to the exchange after it is chosen.

What do you think about the ability to trade cryptocurrencies within the Trezor wallet? Let us know what you think about this subject in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images via Shutterstock, Pixabay, and the Trezor wallet interface. Need to calculate your bitcoin holdings? Check our tools section.

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

09/24/2018 / 14:10:28 Source: bitcoin.com

BTC
1 BTC=$5,558.91
XRP
1 XRP=$0.4719
ETH
1 ETH=$178.07
XUC
1 XUC=$3.50
BCH
1 BCH=$380.04
EOS
1 EOS=$4.67

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Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.