Alternatively, ensuring the security of the user’s funds and data is the responsibility of all the trading bodies that deal with digital assets. Password Manager of Trezor is also directed towards providing this service.
The announcement made relating to the deprecation of the Trezor Password Manager from June 30, 2023, has created a lot of fuss among the users. Users start searching for alternatives through which they can further manage their passwords.
But, do you think understanding behind the scenes is important?
If yes, then walk through this read and understand all the concepts relating to it. Here, we are going to discuss the basic information due to which the deception decision relating to this service took place and what actions users have to take next.
General Intro to the Trezor Password Manager
Introduced in the year 2016, it is an open-source, free browser extension designed to facilitate users with the service of using the keys stored with the Trezor instead of the master key. The sole purpose of launching this service is to safeguard your crypto assets. When accessing the user base of this service, it has been discovered that it has a small user base comprising only 1% of the Trezor users.
Considering the deprecation of the Trezor Password Manager, users are advised to download their entire database relating to the passwords before the revealed deadline and export it to another reliable platform. After downloading the relevant information, users have to import the login credentials to the selected platform.
Why Trezor Password Manager service is deprecated?
Behind every decision or sunsetting of service, there is some specific or valid reason justifying the statement. So, there are some reasons that justify the ending of this service.
Thus, we are here to provide you with the discovered reasons, and they are listed underneath:
- Emerging demand for large reallocation of resources
- Affecting the development of other products by restricting them
- The birth of technical challenges as a result of new changes to Google Chrome
What to do next?
With the discontinuance of the services of Trezor Password Manager concerns have been raised by several investors as to what they need to do next. Thus, as a solution to this, users are suggested to move their database relating to the passwords to any other reliable platform. Relating to this the team has also summarized the steps of exporting the database in “Trezor Knowledge Base.” This precise guide was created to help investors learn and understand the complete process of exporting the passwords from this platform and later on importing them on the other relevant platform securely.
However, one of the most important point to be considered here is that you should select a reliable platform after performing a comprehensive study relating to all its features, especially its capability to enhance the security of the user’s account.
Trezor Password Manager is a way through which the funds of the users are safeguarded from online threats. By allowing users to use passwords (stored with the Trezor) it contributes to safeguarding the master key of the wallet. But with the announcement made by the team regarding its deceptions, users are looking to move their stored passwords to other reliable platforms and for this, we have created this information read. For more information, you can even check out the “Learn” section of Trezor and explore the steps involved in exporting all your stored passwords to another platform.