Are you a regular crypto trader? If yes, then it must have been exhausting for you to decide which wallet is perfect for you. It is the most difficult yet the most essential choice to be made. While selecting a wallet many points are to be kept in mind. You already know that there are two types of wallets and that are Software and Hardware wallets.

But we are not going to talk about the details about which wallet is the best or not. Instead, today's point of discussion is what steps should be undertaken if you lost your Trezor Wallet.

Under what circumstances your wallet could be recovered?

There are some situations in which the Trezor wallet could be recovered but there is one catch and that is you have to have your seed phrase. Without a secret recovery phrase (SRP), your wallet is nothing. You must already know the importance of this phrase as you are a professional crypto trader. But even if you are a newbie, then at the time of account creation or when you search about the types of wallets, it is mentioned how essential your seed phrase is. You can recover your wallet under the following mentioned circumstances:

  • When you lost your Trezor hardware device. Or it has been stolen.
  • You are replacing your old Trezor device with a new one.
  • You no longer remember your password.
  • Or if you are trying to access your account after a long time.

Now, in the further content, we will tell you all the steps for recovery. Make sure that you have logged out of the Trezor Suite application.

How to recover the Trezor Wallet?

The recovery steps are given as follows, but before we begin you should know that the steps below are of Trezor Model T.

  1. The first and foremost step is to connect your new Trezor device with the Trezor Suite application. 
  2. In the next step, you have to press the option of ‘Recover Wallet’ and then begin the further recovery process.
  3. To ensure that the recovery request has been made by the account holder, it will ask you to provide confirmation. You will have to give this confirmation through your wallet device. 
  4. On the screen of the Trezor device press the ‘Select’ option. 
  5. And then select the word length of your Secret Recovery Phrase.
  6. Now, with the help of your Trezor keyboard type the complete Recovery Phrase. Make sure the words you are typing are correct because one wrong word could waste all the efforts you have made.
  7. Then on your Trezor interface click on the ‘Continue’ button. 
  8. On your Trezor Suite screen reset your account passcode. And remember that the new password should be easy to remember. 
  9. In the final step follow the prompts that are shown on the screen. 

Wrapping It Up!

After the step-by-step execution of this above-stated procedure, your Trezor Wallet would be recovered with ease. And if you have not yet decided which wallet is the best, then as per our review’s hardware wallets are preferable. They give the best security to your funds stored. Also, there are very low chances for the wallet to be hacked. Whereas if we talk about software crypto wallets then they are not as secure as hardware wallets. It is so because the data is stored online, and the transactions are being processed online. And we know how risky it is. Even if the developers of the wallet claim that it is safe but what about the cyber-crimes that a user might fall into? So, using hardware wallets is much better.