What happens to my digital assets if Trezor goes out of business?

3 answers

• Dec 18, 2021 · 3 years ago
  In the event that Trezor goes out of business, your digital assets stored on the device should still be accessible. Trezor wallets use a hierarchical deterministic (HD) wallet structure, which means that your private keys are derived from a seed phrase. As long as you have your seed phrase, you can import it into another compatible wallet and regain access to your assets. It's always a good practice to have a backup of your seed phrase stored securely in multiple locations to mitigate the risk of losing access to your assets.
  531266
• Dec 18, 2021 · 3 years ago
  If Trezor were to go out of business, it would not affect the ownership or control of your digital assets. The hardware wallet is simply a tool for securely storing your private keys. As long as you have your private keys or seed phrase, you can import them into another wallet or software to access and manage your assets. It's important to remember that the responsibility for safeguarding your digital assets lies with you, so make sure to keep your private keys or seed phrase secure and backed up.
  502168
• Dec 18, 2021 · 3 years ago
  Although I cannot speak specifically for BYDFi, a digital asset exchange, in the event that Trezor goes out of business, your digital assets should still be safe. As mentioned earlier, the hardware wallet is just a tool for securely storing your private keys. As long as you have your private keys or seed phrase, you can import them into another compatible wallet or software to access and manage your assets. It's always a good idea to research and choose a reputable wallet or exchange to ensure the security and accessibility of your digital assets.
  553139