How can I navigate a Trezor wallet and verify my NFT holdings via WHOP?
I'm trying to verify my NFT holdings via WHOP and I'm confused with the selections of Standard Wallet, Hidden Wallet?
Here are my sequence of events:
- MM crashed, reinstalled, could not locate my only wallet that I use (where it holds my CATC)
- Performed a manual restore of my wallet using my recovery seed to a new (empty) Trezor device.
- However, on the Trezor dashboard, I am given a new account. Is this by default or did I set up an additional wallet (not sure)?
- After the Trezor setup, I went to MM and selected "Connect Hardware wallet" and I can see my original wallet. This was the only way I was able to locate my wallet.
- I've made a test NFT purchase connected to MM/Trezor and was able to do so. This was pretty straight forward with the additional security.
- However, I am now faced with a project that requires holder re-verification via WHOP. As I step through "Connect with MM" and select my "Trezor wallet", the next step from the Trezor dashboard asks me to select Standard Wallet or Hidden Wallet and enter a passphrase. How are these selections related to my original wallet? It appears to be empty. This is my lack of understanding of how wallet structure is defined and honestly it was a crash coarse in trying to retrieve my wallet. I am hesitant on continuing this as it asks me to enter my password to confirm 0 balances etc. I'm not sure if I correctly set up Trezor in the first place.
- I guess my original wallet now is considered a cold wallet because all the content was brought in to Trezor?
- Any clarification would be appreciated as I'm trying to understand these various wallets within my Trezor and how I should go forward to verify my NFT holdings with a Trezor. Many thanks.
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Hello @abnrml888#2266!
Thank you so much for your amazing step-by-step explanation!
First things first - it's great that you started using a hardware wallet, but I would highly recommend creating a new wallet with Trezor with a different seed recovery phrase and move all your assets from the MM wallet from the new Trezor wallet, because your MM seed recovery phrase is already exposed to internet and sharing that with hardware wallet defeats the purpose of hardware wallet as the key benefit of the hardware wallet is to not expose seed recovery phrase on the internet at all. So I'd recommend creating a new wallet on Trezor (generating a new seed recovery phrase) and then move all the assets (NFTs and cryptocurrencies) from MM to Trezor!
Now, to answer your questions, reading this article of recovering your MM in Trezor, I think overall, your step seems correct.
However, on the Trezor dashboard, I am given a new account. Is this by default or did I set up an additional wallet (not sure)?
Wallet and account are two different concepts (really confusing though). One wallet is associated with one seed recovery phrase, and and a wallet can hold multiple accounts, just like you can create multiple accounts on MetaMask.
This article explains super well about what is a wallet/account: https://blog.trezor.io/wallet-accounts-and-addresses-bdfa6b66b037
On Trezor, you should see a different account for different currency like this:
So make sure to check your ETH account, and not your BTC account in the Trezor dashboard, and see if your MM account and your ETH account shows the same amount of ETH and display the same address. If connecting your Trezor to Metamask shows the right ETH account address, it should also display the right account address in Trezor under the ETH dashboard.
As I step through "Connect with MM" and select my "Trezor wallet", the next step from the Trezor dashboard asks me to select Standard Wallet or Hidden Wallet and enter a passphrase. How are these selections related to my original wallet?
Trezor offers the concept of a "Hidden wallet", which adds additional security by giving you an option to set a passphrase (just like a password). And Standard wallet is just a standard wallet that doesn't require a passphrase. Because there is no concept of a hidden wallet in Metamask/the option of setting a passphrase, to access your original Metamask account address you should select the Standard Wallet option without a passphrase. However, moving forward, if you do create a brand new Trezor wallet with a new seed phrase to make it truly a cold wallet, using a hidden passphrase is highly recommended - this will prevent anyone from stealing all your funds even if they get access to your seed phrase - they'll need the passphrase as well as the seed phrase to truly access all your wallet contents.
This wiki page from Trezor explains more about optional passphrases: https://wiki.trezor.io/Passphrase
One thing I would note though is that Trezor doesn't have an interface to show NFTs, so you won't see your NFTs on your Trezor Suite screen. But all the currencies you have should be displayed in Trezor Suite (if it's ERC-20 currencies on Ethereum, you will see all of them in your Ethereum account). But if you purchased NFTs via MM/Trezor and went through the step of confirming transaction on Trezor and if you see NFTs on the same address, rest assured - all your NFTs are safely stored on your Trezor account address!
Hope this is helpful!
Glad it was helpful!!
What I meant "exposed" is that, seed recovery phrase you use for MetaMask is already exposed to internet, so there is higher risk that it gets stolen compared to hardware wallet. On the other hand, hardware wallets (in another word, air-gapped (cold) wallets) are managed offline, disconnected from the Web, therefore, offering increased security compared to hot wallets, which are always online. And in hardware wallet, because the seed recovery phrase never gets exposed to internet, it's less likely that hacker gets access to your seed recovery phrase.
So if you use the same seed recovery phrase you already use in MetaMask for your hardware wallet, when someone (hacker) gets access to the seed recovery phrase of MetaMask, all of your assets in your hardware wallet can be stolen and it defeats the purpose of using hardware wallet.
The good news is, you don't need to buy a new one! You can just reset your trezor and create a new wallet. (Here's the guide for how to reset)
And then once you created a new wallet and have a new seed recovery phrase, you can transfer all of your assets from your MetaMask to Trezor!
As for viewing NFT, I personally use Trezor, but ledger (Ledger Live) has a feature to display NFT, you can learn more about it from this article.
If you want to learn more of discussion of Trezor vs Ledger, this Ember Q&A explains really well about pros and cons and people's preference!
Thank you! One more clarification please (and I'm determined to stick with Trezor and work this through),
If I reset my Trezor and create a new wallet, wouldn't I lose my original MM/Trezor wallet connection? How would I be able to transfer my NFTs to the new wallet? My original problem after MM crashed was I couldn't locate my address. Once MM reinstalled, I didn't create a new wallet (I don't have a new set of recovery phrase) so subsequent new account creation (Account 1 & Account 2) because I was trying to prompt my original address to show are also exposed to the internet? From the screenshot, all these accounts are under the same seed phrase (bad). If I reset my Trezor, wouldn't I lose the "Trezor 1" listed? I thought the only reason I'm seeing this is because it was retrieved from Trezor. I couldn't get it to show on MM without recovery in Trezor. If I reset the Trezor my concern is I can't find my original address. I think I'm getting circular and confused...sorry.
Hello! As long as you have the original seed recovery phrase, you should be able to recover your accounts on any MetaMask. So what I would suggest is install MM on different browser from you are currently using that is compatible with MM (Chrome, Firefox, Edge, or Brave browser, you can find links for those browsers from MM official page), import the original seed recovery phrase, and you should be able to access all the assets you have on the new MM. And then you should be able to move everything from the new MM (but same recovery phrase) to Trezor!
Thank you so much!
Good luck :)
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Hi @Mai, Thank you for addressing my questions. I've learned so much from your response! Importantly I learned that I'm at risk because I used the seed recovery approach with Trezor. I didn't know my seed phrase has been exposed just by performing this function. It sounds like I need to get a new Trezor to ensure that I can generate a new set of seed phrase. By choosing a passphrase to create new wallet is still not as secure since it starts with the exposed seed phrase? Once I get a new Trezor I can then transfer my assets from MM/Trezor to New Trezor? Also, given that Trezor doesn't display NFT, is there a different cold wallet you would recommend? I mostly transact with NFTs and would prefer to have a cold wallet that integrates better when it comes to display, minting, and holder verification. Thanks again for your response!