I have a warning that I want to share with you and that is if you own XRP, Stellar, Bitcoin, Terra Lumens, anything. Solana, it doesn’t really matter what type of cryptocurrency you own. You need to actually get it off the exchanges and store it yourself. You need to be able to possess your own private keys. And what I’m going to do, because a lot of people lost a lot of money when all of a sudden the SEC went after Ripple and XRP was blackballed around the world and exchanges locked up people’s XRP.

And I think this could happen with other projects as well. A lot of people lost out on a massive bull run because there was so little XRP available for trade. But people like me took mine from my cold wallet and I transferred it to another exchange in another part of the world. And I was able to sell it for a two, 300% profit while people around the world were watching their XRP go up in value and they couldn’t touch it. That’s the power of holding your own crypto. And so what I want to do is teach you how to get a device like Trezor.

I’m going to put a link down below, a verified link. It is an affiliate link, but it doesn’t cost you anything extra, but it’s a safe link. So you’re not going to a malicious site. And I’ll also put a link to the XRP and Bitcoin 101 accelerator course, because it’s the pure basic. I’ll put a sale link down below. This is one of the lessons from that. But I think teaching people how to start their own hardware wallet is very important. And this is a step-by-step tutorial so that you can feel confident ordering one, setting it all up and storing your crypto yourself safely into your own home or wherever you want to put it.

So go ahead and take a look at that. And again, the Model T is the one that I use primarily. I’ll put a photo of it up right here, if we can get that up there and then enjoy the video. All right. With that being said, let’s start the tutorial. Hey everybody, Economic Ninja here. I hope you’re doing well. Today, we’re going to be doing something totally different. I’m going to show you how to securely set up a Trezor device. And I’m also going to show you how to do a passphrase that sets up a hidden wallet.

And the reason why that’s important is because just in case your seed phrase gets compromised or somebody sees it, you still can secure your crypto because they won’t have that. And you’re going to set it up separately. So now, also, if you have never held your own cryptocurrency, you’ve retained your private keys, I love using the Trezor Model T. Okay. So let’s dive in. This is going to be an unboxing. Obviously, you always check to make sure that it’s got the Saran Wrap, but the thing is, is with Saran Wrap, that can be faked, right? So we’re looking for a couple of different things when it comes to the Trezor.

So when you get it, first off, we’re going to go here to the website, and that’s going to be Trezor.io. This website here, to buy it, you go to Products, this is the Model T. You’ll notice it’s the most expensive, but it has a couple features that these don’t, one of them being a touchscreen. So when you open up the box, you’ll see the Trezor there. You open it up, you pull the Trezor out, it comes with a nice little magnet device that you can use it in your office, pretty slick.

But what you’re going to notice is this, a hologram band covering the USB C port. Okay. So you want to make sure that that’s intact. The hologram obviously says Trezor on it, has that little luminescence. You’re going to go ahead and pull that off. You’re going to make sure obviously that the package wasn’t pulled. And you’ll notice that as this thing pulls off, it actually leaves behind. It destroys the hologram. So if the hologram was on this and it was destroyed, it would look like that. Destroyed hologram, not good, do not use that Trezor.

All right. All right. So what you’re going to find in here is a couple other things. You’re going to find a USB C to plug in the device. And then you’re also going to find, let’s pull it all out. Obviously you get your nifty little stickers. I don’t know whoever uses those, whoever wants to say, but you’re going to get this document right here. It’s a quick start guide. And here we go. Your seed phrase is going to go right here. This is once we hook this up, you’re going to plug it all in.

You’re going to start to take, once the Trezor starts telling you the seed phrase, you’re going to pop those in right there. Now, another real quick thing I want to show you is this website, this part of Trezor right here. It’s the Trezor.io backslash learn and it’s get started with the model T. And what you’re going to see here is it’s a step by step tutorial with screenshots showing you how to set this up. But for my purposes, I love learning by listening and watching. So that’s why this video is here. So let’s do this.

We’re going to go ahead and we’re going to plug in the device. You’ll see the model T starting up and you’ll see on here, it says, what website to go to Trezor.io backslash start. So we’re going to do that right here on the screen. And it’s slick because it’s telling you on the device what to do. So what it says right here, getting set up, we’re going to download for desktop. Okay, so now that you’ve got your Trezor suite software downloaded on your computer, you need to allow access. And then that brings you to this page right here and you have to hit set up my Trezor.

Right, so first thing is all of these treasures do not come preloaded with firmware. So you need to install it here and this is where you click it. You’ll see on the touch screen, it’s actually also doing what it’s saying on the desktop as well. Okay, now that the firmware is successfully on your Trezor, you need to make a selection right here on the page, you see create a new wallet or recover wallet. The term recover wallet is if your device ever gets lost, stolen or destroyed, all you simply need to do is when you retain your seed phrase, you’re going to recover wallet.

That’s when you would click recover wallet and it will have you type in all of your words from your seed phrase to recover it and just put it on a new device. So that’s what’s really nice about that. Again, you always store this where no one has access to it. And we’re going to show you that that extra phrase for even more security. But for today’s purposes, we’re going to click create a new wallet and we’re going to do the standard seed backup. Now you’ll notice right here on the touch screen, it starts saying by continuing you agree to Trezor companies’ terms and conditions, you hit create wallet.

Now it says right here to create backup, you’ve successfully set up your your Trezor and you created your wallet. You should never use your Trezor without backing it up. So you create a backup. So right here under the create a backup, they’re going to have you check these boxes. It says right here, your recovery seed or wallet backup lets you recover your funds in case of Trezor lost or damaged. Never take a picture or make a digital copy of your backup. Again, this is the backup, right? Because you don’t want anyone on the internet being able to access this because if they do, all of your crypto is gone.

And then make sure that you click store your recovery seed, your wallet backup securely and never share it with anyone. Now as that’s going on, now we can begin the backup. So it says here again, it wants you to confirm on this Trezor, never make a digital copy. Okay, I understand. So now check this out. You’re going to get to see the first four words right here. It starts the different seed phrases. And so what you’re going to do is you’re going to start to write down and number one is diet.

Now that you’ve written down your seed phrase, it’s going to say hold to confirm. So you hold it, let the timer run out. And Trezor has now just made sure that you have written down all of those words. Now it’s going to say select word one of 12. Now since you already know the first word is diet, I’m going to select that word and select word five of 12 and 11 of 12. Now it says you have finished verifying your recovery seed and you need to continue. Now it says use your backup when you need to recover your wallet.

Again, your backup is done, you hit continue. So now this is what’s interesting. This is what a lot of people fail to do. We’re going to first continue with the pin, the backups complete. And now we’re going to select a pin, setting a pin and you want to use a strong pin. So the longer, the better. And this is going to give you access into this device itself. You have to actually select turn on pin protection on your device. And then you enter your pin on the device. Once you selected your pin, you hit the check mark.

And then you’re going to reenter the pin. Perfect. Now pin protection is on you hit continue. You’ll notice that on the screen, it says the pin is set and you will use it to unlock your treasure when you need to access your funds. Now when you click continue, it sees all of the alternative coins and these are all already checked. These will actually set up in your wallet. Now we’re going to access the treasure suite. Now, this is really important. We’re going to set up a hidden wallet. And to set up a hidden wallet, we’re going to set a passphrase.

This passphrase is completely separate than the words that we wrote down for the seed phrase. Okay. The reason why we would set this up is because what if there was a hack somewhere? What if your system was hacked or somehow your seed phrase, the 12 words that you wrote down to secure your crypto was compromised? Okay. If you put this hidden wallet set up with the passphrase and you remember it, nobody can get into this, even if they have the seed phrase. So we’re going to go ahead and just click hidden wallet.

Okay. So now we’re going to enter that passphrase. Now that you’ve typed out the hidden passphrase on the treasure suite, now it’s going to say next screen will show the passphrase. So you want to verify that what you just typed in is the same that’s on the treasure. You confirm it. Now you can see that the treasure dashboard is checking your balances. Now, obviously you won’t see any balances on here because it’s a brand new set of device. But remember, when you go to log in to your treasure, you will have to select the hidden wallet because at first it may scare you.

If you’re running a hidden wallet with a passphrase, you’ll see no balances. So you have to click the box that says choose hidden wallet. It will have you put in your passphrase. Then you can access it and see everything. Hope you guys have a great day. The Ninja is out. [tr:trw].

See more of The Economic Ninja on their Public Channel and the MPN The Economic Ninja channel.