Trezor Wallet Adds Crypto Exchange Support With the Help of ShapeShift and Changelly

SatoshiLabs, the Prague-based maker of the popular crypto hardware wallet Trezor ("the world's first cryptocurrency hardware wallet"), has announced that the beta version of "Trezor Wallet", the web interface for its Trezor devices, now allows users to "exchange cryptocurrencies directly in the Trezor Wallet interface" with the help of instant crypto swap platforms ShapeShift and Changelly.

According to the Trezor website:

"TREZOR Wallet is the official production-level, battle-tested version of the web-wallet interface provided by SatoshiLabs It is feature-conservative, meaning new functions are added at a slower pace and only after they are thoroughly tested, to ensure the highest reliability of the wallet. The purpose of this wallet is to provide a continuous and stable access to TREZOR

TREZOR Beta Wallet is a less-tested version of the web-wallet. New features are first released here before we consider them as sufficiently reliable for the production wallet. It serves as a public feature-testing platform for the TREZOR community, providing power users with quick access to new features."

Yesterday, this is how the Trezor team anounced the addition of this new feature ("Exchanges") to the Trezor Wallet:

Charlie Shrem, the founder of the Bitcoin Foundation and CryptoIQ, replied to this tweet to ask when support for Atomic Wallet would be coming:

The Atomic Wallet team replied to Shrem to explain that it was too early for hardware wallets such as Trezor to intergrate with Atomic Wallet since the atomic swaps SDK has not yet been released:

Via a post on the Trezor blog, SatoshiLabs gave more details about the new "Exchanges" feature:

  • "The entire exchange process can be initiated and observed directly in the Wallet interface."
  • "In addition to the current features like multiple accounts, multi-currency, complete transaction history, sending, and receiving, you can also conveniently exchange coins and tokens directly in your Wallet."
  • "The exchange feature is provided by various third parties... In this initial release, we have decided to cooperate with ShapeShift and Changelly."
  • "Trezor Wallet will always operate without KYC, as the Wallet or your Trezor device are not custodial. If the exchange providers decide to enact KYC, registration and verification will be done by them. Your personal information will not be processed by Trezor Wallet / SatoshiLabs, nor will it ever be requested by the company."
  • "Customer support for exchanges will be serviced by the partners."

Here is a screenshot supplied by the Trezor team to give you an idea of what using this feature looks like:

Trezor Wallet Screenshot.png

Featured Image and Trezor Wallet Screenshot Courtesy of SatoshiLabs

Bitcoin Hashrate Reaches All-Time High, As BTC Halving Event Approaches

Bitcoin’s (BTC) hashrate recently reached an all-time high according to data from Blockchain.com, a leading London-based block explorer service.

Bitcoin network’s hashrate, which represents the amount of computing resources being dedicated towards providing security for the cryptocurrency’s blockchain (among other uses), has been climbing steadily in the past few months.

Higher Hashrate Suggests Increased Interest in Mining Bitcoin

Available data from June 19, 2019 shows that Bitcoin’s hashrate currently stands at around 65.19 trillion hashes per second (TH/s). Notably, the BTC blockchain’s hashing power began to increase significantly as the pseudonymous cryptocurrency’s price crossed the $9,000 and then $10,000 mark.

In addition to improving the security of the Bitcoin blockchain, a higher hashrate indicates that the overall interest in mining BTC has surged - presumably due to the recovery made by the bitcoin price and also that of other major cryptoassets.

Hashrate May Be Used to “Hack Humans to Create Gold 2.0”

Commenting on the rising hashrate, Wall Street veteran and Bitcoin bull Max Keiser remarked via Twitter that an increase in hash power results in a considerable price increase for Bitcoin in most cases. Keiser believes that even some of bitcoin’s biggest supporters fail to understand the importance of hashrate.

The experienced financial analyst remarked:

[Hashrate can be thought of as] Satoshi’s ability to hack humans to create Gold 2.0.

Previous BTC Hashrate All-Time High of 60 TH/s Set in September 2018

Bitcoin’s recently recorded hashrate of over 65 TH/s is considerably greater than the previous all-time high of about 60 TH/s - which was achieved in September 2018. After reaching a new high last year, bitcoin’s hashrate had been declining steadily - as the cryptocurrency’s price also continued to plummet.

But after bitcoin’s value reached a low of around $3,150 in December 2018, the leading cryptocurrency’s price and also that of other major cryptoassets began to recover in 2019. Other key metrics used to assess the performance of the Bitcoin network have also shown marked improvement.

Less Than 16% of 21 Million Bitcoins Left to Be Mined

According to BitcoinBlockHalf data, there are only 3,220,350 bitcoins left to be mined as the Bitcoin protocol has algorithmically capped the maximum supply of BTC at 21 million. 

At present, there should be 17,779,650 bitcoins in circulation but analysts have estimated that nearly 4 million BTC has been lost due to account mismanagement - including users forgetting their private passwords to their crypto wallets.

Moreover, the Bitcoin halving is approaching (on track to take place on May 21, 2020), a critical event which reduces the number of bitcoins that can be digitally printed (from mining) by 50%. Several crypto researchers have noted that this is one of the most significant events in bitcoin’s relatively short history as the reduction in the BTC supply has had a notable impact on the crypto’s price.