After 10 years of Trezor’s hard wallets, Coinbase’s dominance across retail and the Bitcoin ETFs poses a threat to self-custody., there are currently 420 million global exchange users but only eight million self-custody hardware wallet users — that’s around 2% of the total.
“The ultimate aim for everyone holding Bitcoin should be to self-custody the asset in a hardware wallet where it is safe, private and protected.”And he issues a stern warning about the dominance of Coinbase, which is where eight of those 10 ETFs reside. When so many assets are corralled in one place, there is always the threat of hacking and, worse, state intervention.
Some speculate the temptation may be to tap the potentially huge value of Bitcoin stored at Coinbase or to somehow combat the threat from Bitcoin to the U.S. dollar.Zak says Trezor was much smaller when he joined, but he knew it had potential, not just for the technology of the Trezor hard wallet but its mission.
“We’re on a mission to make self-custody accessible to everyone, tackling it from two angles. First, we’re all about simplifying concepts through easy-to-digest education,” he says.“Our research team is always chatting up a storm with all sorts of customers, digging deep to figure out what trips them up and what they find intimidating.”
He originally trained as a classical guitarist and still performs in a jazz band that plays regularly in Prague. A huge fan of the Spanish flamenco master, Paco De Lucia, Zak studied music because he loved it, but always enjoyed the company of tech-oriented people.
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