The open-source nature of many hardware cryptocurrency wallets offers enthusiasts the opportunity to create their own do-it-yourself (DIY) wallets like Trezor from scratch, although it does require specific skills.
Florin Cocos, an electronics design manager from Romania, managed to build his own DIY Trezor in 2018 using the wallet’s open-source code, even though he didn’t have access to an official Trezor device. On his YouTube channel, Voltlog, Cocos shared a step-by-step guide on how to create the DIY Trezor Model One. He sourced electronic components from reputable distributors like Farnell, including a Farnell microcontroller and a printed circuit board (PCB) ordered from a Chinese production house, extracted from a Gerber file available on Trezor’s GitHub.
Cocos emphasized that the required components could be obtained from trustworthy distributors like Farnell, DigiKey, RS, Newark, and TME, depending on your location. The OLED screen could be purchased from platforms like AliExpress or eBay.
Five years after posting his DIY Trezor video, Cocos remains enthusiastic about his DIY cryptocurrency device, stating that he would trust his DIY device more than a store-bought one. He appreciates the open-source movement, emphasizing that it offers full control over security aspects and is enjoyable for those who like to build things themselves. For him, the satisfaction of creating something useful personally outweighs any other factor in deciding to embark on such a project.
Creating a DIY Cryptocurrency Hardware Wallet: A Step-by-Step Guide
The entire process of building and installing firmware on the DIY Trezor wallet took Cocos approximately 10 hours, excluding the time spent receiving PCBs and other ordered components. The initial steps involved evaluating the project, generating the necessary Gerber files, and ordering the required parts from distributors like Mouser or Digikey. Once he received the PCBs, it took him about five hours to assemble the PCB, flash it with firmware, and get it up and running. Cocos noted that while building the hardware for the DIY Trezor was the easiest part, flashing the firmware and making it work with the application was slightly more challenging.
For an average user, building a DIY Trezor might seem like a feasible project due to the relatively short duration of the process. However, Cocos believes that it’s nearly impossible for someone without electronics knowledge to undertake such a project. On a difficulty scale of 1 to 10, with 10 being the most challenging, he rates building a DIY Trezor as a 10. Simplifying the process could reduce the difficulty level to around 3, but it would introduce security risks associated with vulnerabilities in the supply chain and manufacturing.
Cocos strongly recommends against attempting to build a hardware wallet like the DIY Trezor without prior experience in electronics and, specifically, soldering small surface mount components. Inexperienced users may risk damaging components or rendering the wallet non-functional.
The Complex World of DIY Cryptocurrency Hardware Wallets: A Detailed Exploration
While Cocos has a background in electrical engineering and more than a decade of experience in electronics design and construction, he believes that a moderately technically skilled person with one or two years of tinkering with electronics could significantly improve their chances of success in building a DIY Trezor.
Hardware wallet manufacturers like Ledger and Trezor have consistently advised customers to purchase hardware wallets exclusively from official vendors to avoid potential risks associated with counterfeit devices. In regions where hardware wallets may not be readily available due to factors like sanctions, the open-source nature of devices like Trezor provides an alternative solution, as anyone can build their own using the schematics and bill of materials available on platforms like GitHub.