Can I still buy, sell, send, and receive crypto to my wallet after January 31, 2022 if I don’t upgrade to Trezor Suite?
@Robshly you will have to use Suite, old wallet is closing…if you don’t want to, you can pair Trezor with 3rd party app
Thank you very much for your response. As senior citizens, my wife and I have our life savings in Bitcoin on a Trezor One, which we bought several years ago. We’ve just tried to update to Suite but have had all sorts of problems, and we’ve heard horror stories from people who have tried to install the new firmware. So what happens if we just leave our Bitcoin in our Bitcoin wallet on our old Trezor One? Will it vanish? Will it be locked out? Will it be impossible for us to send our Bitcoin to an exchange to convert it to fiat? I just ordered a new Trezor One, which I hope arrives before January 31. So do you know if this new Trezor One will come with Suite already installed? If so, then I can transfer my Bitcoin from my old Trezor One to this new Trezor One. As for pairing Trezor with a 3rd party app, I have no idea which 3rd party to choose or how to pair it with that app. Thanks again for your time and help.
Please note that our legacy wallet (wallet.trezor.io) as well as Trezor Suite are only interfaces that allows you to manage basic operation with your assets (such as sending, receiving and so on).
So your coins are actually not there. They are not even on your Trezor.
What is stored on your Trezor (and never leaves it) are private keys that are (simply put) proof that you are the owner of certain addresses.
All the information about how many coins belong to your address (aka public key)— and to every other address that exists — is stored as transaction info on the blockchain. Think of the blockchain as a record book of every transaction that has ever happened.
I suggest you to have a look at the following article where it is all very well described:
If your plans are just to hodl your bitcoin you will be absolutely fine. Because of what was mentioned one paragraph above your coins won’t vanish nor will be locked out.
As long as you have your private keys that are (and this is very important) backed up by the unique mnemonic phrase - the recovery seed, you are able to recover your wallet anytime.
So even if e.g. your Trezor will get lost, or damaged and the company will shut down you will still be able to recover your wallet even on another (BIP39 compatible) device or app.
We dispatch all of our devices without preinstalled firmware. Therefore your can conveniently check that there isn’t any preinstalled malicious firmware.
And there is no other software installed on our devices (Except software safeguards against tampering. The device firmware and bootloader are signed by SatoshiLabs, and these signatures are checked whenever you start the device. The Trezor device will warn you if the signatures are invalid)
So to answer your question: Suite will never be installed on the actual Trezor device. This app/web interface can only by installed/used on the host device (your computer).
Please have a look at the following page to have better overview about what 3rd party apps can be used with your Trezor Apps - Trezor Wiki
You can also find information about what model supports your desired coins as well as any related apps to use for a given coin in the following link:
Thank you so very very VERY much. Now I can sleep better at night. And I will also try to pass on some of this information to other people who are panicking over this January 31, 2022 deadline. So if I understand you correctly (and I will reread your posts), I could theoretically leave all my Bitcoin in my Bitcoin Wallet in my old Trezor One, do nothing at all, and then when I decide to sell my Bitcoin, I could send the Bitcoin to an exchange (I currently use Coinbase though I would like to find a better one), and once it arrives at the exchange, I could then convert it to US dollars and have it sent to my bank. So thanks again for all your help. You are really a life-saver.
no worries, I am happy to help
You are absolutely correct!
(If you would want to send your assets from Trezor in let’s say ten years time you will probably have to update the firmware of the device but your funds will be safe).
Thanks again, but I have one quick (and I hope) final question to ask you. Since I can still transfer Bitcoin (and I presume, Litecoin and Ethereum) from their respective wallets in my old Trezor One after January 31, 2022, what does it really mean when Trezor says that these wallets will no longer be supported after January 31, 2022? It seems that from my limited use of these wallets (to hodl, transfer crypto, and make occasional payments by sending crypto to others) that nothing has really changed, at least for me.
What is going to happen on 31st Jan is that we will simply turn off one out of two interfaces.
We have kept Trezor Wallet only because some feature such as factory reset of PIN protected device were not implemented in Suite yet but that changed with last Trezor Suite update (19/01/21).
Also we do not develop old legacy wallet any more so it is slowly getting deprecated. Therefore there is no longer any reason to keep this interface alive.
So you can just stick to using Trezor Suite that already offers more features (or any other 3rd party app that Trezor can be paired with) and nothing really changes for you.