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Lorenzo Lorenzo Mon Oct 07 2024 | 7 answers 1693

What if Trezor goes out of business?

It's a valid concern for anyone invested in cryptocurrency hardware wallets like Trezor. After all, hardware wallets are designed to keep your digital assets SAFE and secure, so what happens if the company behind them suddenly disappears? Here are a few things to consider: Firstly, it's important to remember that your cryptocurrency is not stored on the Trezor device itself, but rather on the blockchain. The Trezor simply acts as a secure way to access and manage your funds. So, even if Trezor were to cease operations, your cryptocurrency would still be safe on the blockchain. Secondly, Trezor has taken steps to ensure that their users will still be able to access their funds even if the company goes out of business. For example, they have released open-source software and firmware updates that allow users to continue using their devices even if Trezor's servers are no longer available. Lastly, it's always a good idea to have a backup plan in place. This could include storing your private keys in a secure location, such as a paper wallet or a trusted hardware wallet from a different manufacturer. This way, you'll always have a way to access your funds, even if the worst should happen to Trezor. So, while it's certainly a concern to consider, there are steps you can take to protect your investments and ensure that your cryptocurrency remains safe and secure, even if Trezor were to go out of business.

What if Trezor goes out of business?

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