Using Trezor to access MEW for holding ERC20 tokens – Any Advice?

Bitcoin Questions and AnswersCategory: General questionsUsing Trezor to access MEW for holding ERC20 tokens – Any Advice?

James Carden asked 4 weeks ago

I am awaiting “airdrop” of Erc20 coins from a recent ICO and i gave the address to receive them for a wallet i created with MEW that I accessed via Trezor.  When I mentioned my method for accepting the coins to someone else involved in the the same ICO, they said they had a friend to loose their coins using Trezor.
Can you advise or provide any precautions?
Thanks

1 Answers
Steven Hay answered 4 weeks ago

Hi James,
 
Well… A hardware wallet like Trezor is the safest way to store coins, unless you’re an expert willing to go to extreme lengths. For the regular user, hardware wallets are the best security money can buy. I’m not sure how your friend lost their coins but I highly doubt that the Trezor was the cause. More likely, some other problem occurred… ask your friend for further details.
 
The fact that the private keys to your MEW wallet are held in the Trezor will not – in any way which I can conceive – lower the security of your ICO coin storage. It can only improve your security. I would be more a lot worried about the ICO paying out what they promised than any potential problems with the Trezor.

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