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Step-by-Step Guide: Setting Up a Secure Bitcoin Safe Wallet with Trezor

Follow these detailed steps to create a single-signature Bitcoin Safe wallet using a Trezor hardware device:

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1. Download and Install Bitcoin Safe

• Visit the Bitcoin Safe Website: Go to bitcoin-safe.org.
• Download the Software:
  • Select your operating system (macOS, Windows, or Linux).
  • Click the download link and save the file to your computer.
• Install the Software:
  • Open the downloaded file and follow on-screen instructions to install Bitcoin Safe.

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2. Launch Bitcoin Safe and Initialize Your Wallet

• Run the Software: Open Bitcoin Safe from your desktop/applications folder.
• Choose Wallet Type:
  • Click “Choose Single Signature” to start setting up a single-signature wallet.
• Name Your Wallet:
  • Enter a name (e.g., “Trezor Wallet”).
  • Click “OK” to proceed.

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3. Connect Your Trezor Hardware Wallet

• Prepare Your Trezor:
  • If your Trezor is new, set it up by following Trezor’s official guide to create a PIN and generate a recovery seed.
  • If already set up, unlock it using your PIN.
• Connect via USB:
  • Plug your Trezor into your computer using the USB cable.
  • In Bitcoin Safe, click the “Trezor” tab under hardware wallet options.
  • Click the “USB” button to establish a connection.

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4. Verify Trezor Connection

• Name Your Device:
  • Assign a name to your Trezor (e.g., “My Trezor”) and optionally add a description.
• Confirm Connection:
  • Follow on-screen prompts to authenticate the device.
  • A green checkmark will appear once the connection is successful.

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5. Save Your Wallet File and Set a Password

• Create a Wallet File:
  • Click “Next Step” after the Trezor is connected.
  • Name your wallet file (e.g., “Trezor-Wallet”) and save it to a secure location on your computer.
• Set a Password:
  • Enter a strong password twice to encrypt the wallet file.
  • Store this password securely (e.g., in a password manager).

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6. Backup Your Recovery Seed

• Generate/Confirm Seed:
  • If your Trezor is new, it will generate a 12-24 word recovery seed. Write these words down in order on the provided recovery sheet.
  • If your Trezor is already set up, confirm the seed phrase matches your existing backup.
• Security Tips:
  • Never take photos, store digitally, or share your seed.
  • Store the physical copy in a fireproof/waterproof safe or safety deposit box.

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7. Test Receiving Bitcoin

• Generate a Receive Address:
  • In Bitcoin Safe, navigate to the “Receive” tab.
  • Select an address category (e.g., “KYC” for exchange funds or “Private” for non-KYC).
  • Scan the QR code or copy the address.
• Send a Test Transaction:
  • Send a small amount of Bitcoin (e.g., €10 worth) to this address from an exchange or another wallet.
• Confirm Receipt:
  • Click “Check if Received” after a few minutes.
  • A pop-up will confirm the transaction. Click “OK” to proceed.

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8. Test Sending Bitcoin

• Create a Send Transaction:
  • Go to the “Send” tab.
  • Enter a recipient address (e.g., your own exchange wallet).
  • Adjust the transaction fee using the slider (e.g., “1 sat/vB” for low priority).
• Sign the Transaction:
  • Click “Create Transaction”, then “USB Signing”.
  • On your Trezor, review the fee and recipient details. Swipe up and “Hold to Sign”.
• Broadcast the Transaction:
  • Click “Send” in Bitcoin Safe to broadcast the signed transaction.
  • Confirm success via the pop-up notification.

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9. Enable Sync & Backup (Optional)

• Cloud Backup:
  • Enable “Sync and Share” to backup wallet labels and categories.
  • Save the provided “insect key” securely to restore backups later.

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10. Final Security Checks

• Store Backups Securely:
  • Ensure your recovery seed and password are stored in separate physical locations.
• Bookmark Official Resources:
  • Visit bitcoin-safe.org for updates and follow Bitcoin Safe on X (Twitter).

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Congratulations! Your Trezor-backed Bitcoin Safe wallet is now securely set up. Always test with small amounts before large transactions, and never compromise your recovery seed or password.