10 Years of Pioneering: 10 Years Since Trezor’s First Hardware Wallet Revolution | By Billy Campbell | July 2024

Are you ready to dive into the past and witness a revolution in cryptocurrency security? On July 29th, we celebrate the 10th anniversary of the launch of our first product, the Trezor Model One. What started as a simple idea by two passionate crypto enthusiasts, Stick and Slush, has evolved into a trusted brand that has changed the industry. Want to know how we pioneered the world’s first hardware wallet and became a beacon of trust in the crypto community? Take a journey through our history and innovation.

It all started in 2011, when Marek “Slush” Palatinus logged into his mining pool server and discovered that he had just lost 3000 BTC. Even the most tech-savvy Bitcoiners who understood security protocols could fall victim to an online attack. If this was true for them, what chance did the rest of us have? Marek “Slush” Palatinus and Pavol “Stick” Rusnák envisioned a solution that would simplify cryptocurrency storage for everyone. They set out to develop a small, single-purpose computer that would securely store private keys in an isolated environment. This vision led to the creation of the first hardware wallet, the Trezor Model One.

What started as a hobby project quickly turned into an industry-defining product. On July 29, 2014, the Trezor Model One was officially released, introducing the concept of a hardware wallet to the world. It wasn’t just a device. It was a revolution in cryptographic security.

To celebrate our 10th anniversary, we are launching Self Custody Week! Starting July 29th, we will dedicate a week to highlighting the importance of self-custody for crypto users.

“We wanted to make a few hardware wallets for our friends, but we soon realized we had found a huge market gap. Now we are one of the most trusted wallets in the world.”

Marek “Slush” Palatinus, CEO of SatoshiLabs

“We started prototyping Trezor on a Raspberry Pi, so our first Trezor prototype was just an add-on board with a display, two buttons, and a USB port that could be plugged into the Raspberry Pi. We used this platform to quickly test ideas and optimize the user experience as much as possible before we even had a ‘real’ Trezor ready.”

Pavol “Stick” Rusnák, CTO of SatoshiLabs

We didn’t just create a product, we created an entire industry. We developed BIP39 and BIP44, bringing seed recovery protection to the market and setting the industry standard for wallet security and usability. Multi-share backup and SLIP39 went even further, providing an improved backup and recovery process. Our commitment to open source development has made Trezor a trusted name in crypto security.

Fun fact: We have accepted Bitcoin payments since the beginning, and the USD price at the time of the pre-order phase was around $100. 😯

One of the most important aspects of our journey is independence. Being 100% self-owned gives us the freedom to innovate without external pressure. This autonomy means we don’t have to answer to investors or shareholders. We launch products when they are ready, safe, and meet high standards, not to meet revenue targets or market deadlines.

This independence allows us to be completely transparent with you. We firmly believe that trust is the foundation of our company. Being open source, we don’t hide anything. You can see our security measures and trust that we put your safety first. This approach has earned us the utmost trust from you, our customers, and we continue to build and maintain that trust.

When I look back at our team photos from 10 years ago, it’s clear how much has changed. Back then, we were a group of nerds passionate about crypto and security. Today, we are pioneers shaping the industry, building an amazing community, and helping people become financially independent.

Our journey from humble beginnings to industry leader is a testament to our vision and commitment. We have evolved from an outsider with a bold idea to a trusted innovator who has empowered countless individuals to take control of their financial future.

“No matter what the future holds, we will continue to do what we do best: being transparent about everything we do, while protecting and innovating the entire cryptocurrency industry.”

Pavol “Stick” Rusnák, CTO of SatoshiLabs

To our new readers, we are not just a brand. We are a promise of security and trust. With over 10 years of real decisions without compromise, we offer you unrivaled peace of mind.

Are you ready to be the boss of your financial future? Our commitment to open source security and innovation continues to drive us forward, ensuring we remain your trusted choice for hardware wallets.

As we celebrate our 10th anniversary, we invite you to join us as we look back on our journey and look forward to a future of continued innovation and security.

As we celebrate this important milestone, check back on social for more updates, stories, and celebrations. Here’s to another decade of making crypto security simple, accessible, and trustworthy for everyone!