- Trezor users can now quickly trade currencies without leaving the wallet interface
- Trezor says the exchange process is entirely handled by third parties like Changelly and ShapeShift
- The wallet does not require users to carry out KYC procedures
Trezor, a cryptocurrency hardware wallet brand developed by SatoshiLabs, has now added an exchange feature, making it easy for users to conveniently exchange their coins via supported exchanges, directly from the hardware wallet, according to a Medium blog post on October 22nd.
Exciting new features
In a bid to make it easier for users to exchange their digital assets, Trezor has integrated ShapeShift and Changelly crypto exchanges into its system.
With the new support for exchanges, users can now exchange between different cryptocurrencies without having to leave the wallet site. The team wrote:
“In addition to the current features like multiple user accounts, multi-currency support, comprehensive transaction history, sending and receiving, users can also seamlessly exchange coins and tokens directly from their wallets.”
The developers have stated categorically that the entire exchange process, including fees, exchange rate, KYC and others are handled by supported third parties, as such “customer support for exchanges will be serviced by the partners.”
Old Guard still going strong
Launched in August 2014, Trezor is a pioneer in the bitcoin hardware ecosystem, offering support for bitcoin and a vast array of altcoins.
Trezor claims to offer unmatched security for digital assets, password management, two-factor authentication and an easy to use interface.
Developed by SatoshiLabs, an innovative team of distributed ledger technology-based solutions developers who are also the creators of CoinMap, a highly functional resource for bitcoin-accepting venues.
In May 2018, Trezor integrated the app Faast into its system, to make it easier for users to swap between bitcoin and altcoins within the wallet.
In April Trezor hinted via Twitter that it would be adding support for bitcoin cash Cashaddr, a functionality targeted at making BCH addresses very different from other cryptocurrency addresses, making it almost impossible for bitcoin cash holders to send BCH to BTC addresses mistakenly.