I bought a Trezor hardware wallet.. I read in a previous post I should generate the seed words in Trezor for use in electrum. Trezor only allows me to generate 24 word seeds which may not be future compatible with electrum wallet.
Trezor Model One, by default, uses a 24-word seed, but you can still use 12 words. It's just that it would be better to use the default. Meanwhile, Trezor T and Safe 3 default to using 12-word seeds.
Trezor Model One and the 24-Word Seed
The Trezor Model One uses a 24-word seed to enhance security during the basic recovery process on the host computer. When you enter 12 words on your computer in random order, the entropy in random order may not be sufficient to ensure a high level of security. In this case, using a 24-word seed is essential.
However, if you choose not to recover your wallet on the host computer and instead enter all the words directly on the device, a 12-word seed is sufficient for securing your wallet. With the introduction of the Trezor Model T and its touchscreen interface, the need for using a 24-word seed for recovery on the host computer is no longer necessary.
I keep my Bitcoin air gapped as I think it's safer than on Trezor that requires regular firmware updates.. The Trezor wallet is only for smaller amounts as quicker to sign a transaction. Yes I will buy another Trezor should it fail, but I like knowing the seed words and pass phrase also work on an air gapped Electrum wallet.
So you think that Electrum wallet and operating system on your computer doesn't need any updates? ::)
I could argue that Electrum releases updates more often than Trezor is doing for their firmware.
You don't have to update Trezor device if you don't want to do it, except if there is some serious security issues with old firmware.
Well, Electrum releases updates more frequently. Electrum released the version 4.5.4 update a few days ago, and one of the improvements in this update was related to the Trezor hardware wallet.
# Release 4.5.4 (March 14, 2024)
-snip-
* Hardware wallets:
- Trezor:
- fix: allow adding SLIP-19 ownership proofs to complete inputs (#8910)