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How to exchange cryptocurrency with your Trezor

How to exchange cryptocurrency with your Trezor

he Trezor hardware wallets are the only hardware wallets in the market that allow you to exchange cryptocurrency directly from within the Trezor wallet interface, without needing to go through an external cryptocurrency exchange. This is possible through the Trezor wallet integration with the crypto exchange services Changelly and Shapeshift.

Follow the below step-by-step guide to trade cryptocurrency from within the Trezor wallet interface.

In the below example, bitcoin will be exchanged for litecoin. The steps shown below are analogous for any other cryptocurrency you want to trade.

  1. Sign in

    Open your web browser and navigate to wallet.trezor.io Connect your Trezor device with your computer and sign in.

  2. Select a type of cryptocurrency

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    Select the relevant type of cryptocurrency, on the top left corner of the Trezor wallet interface.

    WARNING: Always make sure to verify that you have selected the right type of cryptocurrency before executing a transaction, more in particular when you wish to send, receive or trade cryptocurrency. You risk losing your cryptocurrency when sending a type of cryptocurrency to an address that does not correspond to the selected cryptocurrency. For example: bitcoin can only be sent to a bitcoin address, but not to a bitcoin cash address (and vice versa).

  3. Select an account

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    Select the relevant account from which you want to trade cryptocurrency (top left corner of the screen, under the selected Trezor device).

  4. Click on tab Exchange

    Click on the ‘Exchange’ tab in the main navigation menu, at the top of screen.

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  5. Type of cryptocurrency you want to buy

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    Select (a) the type of cryptocurrency you would like to buy (i.e. litecoin in our example) and (b) the destination address for the acquired cryptocurrency (i.e. this can be either an account in your Trezor wallet or an external destination address, in which case you want to toggle the ‘Any … address’ option).

    WARNING: Always make sure to verify that you have selected the right destination address before executing a transaction. You risk losing your cryptocurrency when sending a type of cryptocurrency to an address that does not correspond to the selected cryptocurrency. For example: bitcoin can only be sent to a bitcoin address, but not to a bitcoin cash address (and vice versa).

  6. Continue to exchange

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    Click on the green button ‘Continue to exchange’ and confirm the destination address for the cryptocurrency you want to buy, displayed on your Trezor device.

    Please note that you will stay within the Trezor wallet interface when clicking on the green button ‘Continue to exchange’. You will simply be guided to the next steps in the purchase process.

  7. Fill in the amount to sell

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    Fill in the amount of cryptocurrency you want to sell in the input box ‘Sell amount’. You can easily select the total amount of cryptocurrency available in your account by clicking on the arrow symbol.

    Shapeshift and Changelly’s integrated algorithms pick up the best available cryptocurrency exchange rates from some of the large trading platforms (Binance, Poloniex, Bittrex) and displays them in real time in the Trezor wallet interface.

  8. Select the best trade

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    Select the best exchange rate (2 options: Shapeshift or Changelly) and click on the green button ‘Confirm trade’ to execute the transaction.

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