You might be wondering if this is even a problem for you right now, and honestly, it depends on your situation. The fact is that it does effect everyone, so you need to be aware. Still, if you’ve received a large amount of UTXOs (for example, if you buy a small amount of bitcoin regularly and spend a lot of bitcoin), you should start considering taking steps to manage your UTXOs sooner rather than later. Since the bitcoin you own today may be worth far more in the future, it’s better to be cautious.
Now that we know that managing these UTXOs is essential, wouldn’t it be great if you could organize them? Yes!
Let’s introduce the concept of UTXO consolidation: the process of combining smaller UTXOs into one larger UTXO by sending a transaction to yourself. This will help reduce fees and simplify your future transactions.
You would usually only want to consolidate UTXOs from the same source (for example, keeping business payments separate from personal savings). This way, you can maintain your privacy while managing your UTXOs efficiently and saving on future fees.
*It’s usually recommended to avoid combining all your funds into a single UTXO*
How do you do this?
First, wait until bitcoin fees are quite low. Then, select which UTXOs you want to combine and send them to yourself, creating a new, single UTXO. This is easy to do in Trezor Suite.
So in practice, you can consolidate UTXOs selectively, maintain your privacy, and avoid higher fees.
Important: If you’re not careful, UTXO consolidation comes with a privacy risk. Although it will reduce future fees, if you merge UTXOs linked to different addresses, you could end up revealing your total wallet balance on the blockchain.
Billy buys bitcoin monthly, and each time it’s sent to a different address.
He also receives regular bitcoin payments for freelance work he does to the same wallet.
Billy’s wallet contains UTXOs that aren’t linked, so his overall wallet balance remains private, but all these UTXOs will result in higher transaction fees. So Billy decides to consolidate his bitcoin by sending it all to his wallet, creating a new, single UTXO.
By combining and consolidating all these UTXOs at once, Billy is revealing his entire bitcoin wallet balance to the blockchain. Both the exchange that he was buying bitcoin from and anyone who was paying him in BTC can now see his total wallet balance!
*This is irreversible*
Once you do this, it cannot be reversed. If your holdings become publicly known, this could lead to future security issues.
You’d think people would be rushing to take 10,000 BTC for a couple of pizzas, right?
This was Laszlo posting 3 days later:
“So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?”
Eventually, Laszlo Hanyecz sends 10,000 BTC to Jeremy Sturdivant, who agrees to the transaction. It’s worth about $41 at the time.
Two Papa John’s pizzas show up at his house. History is made with the first real-world bitcoin transaction.
Image credit: CBS
Now, every year, Bitcoiners and the world look back at the most expensive pizza ever bought. If you want to have some fun, you can browse through the original post thread and see people coming back to comment years later.
“Will this eventually become the world’s first million-dollar pizza?”
As of today, it’s now the world’s first billion-dollar pizza.
Today (May 22nd, 2025), those 10,000 bitcoins could buy you…
1,500 Lamborghinis
1/200th of a Jeff Bezos
Over 50,000,000 pizzas
It took almost 15 years to reach this point. Not long, right?
And as if it wasn’t impressive enough that Bitcoin has reached $1 trillion dollars in value so fast. This event is a good reminder of Bitcoin’s origin story and what makes it so special.
Laszlo buying those two pizzas for 10,000 BTC was the beginning of Bitcoin’s price discovery.
It’s a good reminder that no matter how much institutional and state-level interest Bitcoin draws today, the project started as (and remains) a ground-up movement. No matter how small you may think you are, your contributions to Bitcoin have an impact, just like Laszlo’s did. And no one has to give you permission, either. Trezor Academy is currently working with many local educators in the Global South who are transforming their local communities using Bitcoin.
That’s part of the reason Laszlo doesn’t regret spending those 10,000 bitcoin today…
It’s also why many people still spend their bitcoin today despite the rising price. Actively using Bitcoin will help with adoption and grow the community. At the Trezor office, we have vending machines for staff to buy things like beer using BTC. After all, isn’t using Bitcoin as a replacement for fiat currency sort of the point?!
Using Bitcoin helps grow the network, but securing your coins is just as important. After all, Bitcoin only works if people have true ownership. Self-custody gives you the power to protect your money without relying on anyone else.
Bitcoin Pizza Day isn’t just about price, it’s about how far we’ve come. And part of that journey is learning how to take control of your coins securely…
Trezor emerged from the chaos of online exchanges that just couldn’t keep up. We realized it was time to step up the security game against online attacks and malicious apps.
Our mission? To give you the tools to securely hold your bitcoin and crypto, without compromise. Everything we build is 100% open-source, and easy to use. This is part of our effort to help Bitcoin grow while staying true to its cypherpunk ethos and origin. We want you to be able to save and spend bitcoin securely.
For us, it all started with the Trezor Model One, the original hardware wallet and the world’s first. Simple, proven, and trusted since 2014. We don’t want to brag, but this literally started the hardware wallet industry.
We followed up with our first premium touchscreen device in 2018, the Trezor Model T.
Get free worldwide shipping on all Trezor products with code: PIZZADAY25 (on our best value delivery method)
*Please note that the 41% discount for the Trezor Model One & Trezor Model T has already been applied to the list price shown on our e-shop. But, the code PIZZADAY25 must be used for free global shipping on all products.*
Welcome to Trezor Pulse! This month, we’re sharing self-custody tips, second wallet strategies, Trezor Suite updates, and a five-star review we can’t stop smiling about.
Let’s dive into the latest updates and insights from Trezor.
Hi,
I’m Josef Tětek, Trezor Academy Lead at Trezor.
You’ve probably heard about Trezor Academy, our global, non-profit initiative that accelerates Bitcoin adoption through free, in-person education. But you might not know that Alex Gladstein’s book Check Your Financial Privilege inspired the whole thing! It showed that Bitcoin helping out with financial inclusion wasn’t just a theory and that it is actually already happening. It’s already fixing broken systems around the world.
That’s when I knew we had to support bottom-up, community-led education. At Trezor Academy, I work with local leaders who are trusted in their communities and can teach Bitcoin in the proper cultural context. You can’t just fly in as an outsider and preach. Local adoption needs local voices.
The reality? In many parts of Africa and South America, fiat money doesn’t work. As a store of value or as a medium of exchange, the infrastructure and credibility simply aren’t there. Cross-border payments are often impossible… unless you use Bitcoin.
This is where the real Bitcoin revolution is happening. Bitcoin’s future may well be decided in the Global South, as it offers a strong alternative to fiat money’s most pressing issues and is permissionless, unlike any other potential solution. Bitcoin thrives in hostile financial environments, which then drives adoption and innovation.
One example is Machankura, a project that lets users send and receive sats using a phone number. Communities across eight African countries (and counting!) already use the Lightning Network on basic mobile phones. Projects like this are reshaping entire economies. In many ways, the Bitcoin economy is more advanced in Africa than Europe or America, and the population is far younger.
If you’re not paying attention to Bitcoin’s revolution in the Global South, you probably should be.
Thanks to everyone supporting this project, from local organizers to Bitcoiners, for spreading the word.
April 5th, 1933 to Bitcoin: The Revolution That Started with “No”
Hey there, Welcome to the April edition of All About Bitcoin!
Do you know what happened on April 5, 1933?
You probably already know if you’ve followed our celebrations earlier this month.
Every Bitcoiner should know. It’s the day the U.S. government attacked financial freedom with Executive Order 6102, banning private gold ownership.
April 5 is also Satoshi Nakamoto’s birthday.
To us, this date is a reminder: Own your money. Stay in control.
It’s also proof that we all have the power to say “No.”, just like Satoshi did.
Saying no to:
Giving up self-custody Accepting the status quo Trusting governments and banks to protect our assets This month, we celebrate Satoshi’s legacy and the cypherpunk spirit within all of us. You always have a choice!
Bitcoin emerged from the turmoil of collapsing currencies and broken banking systems.
Trezor was born from the chaos of failing exchanges because trusting third parties with your bitcoin was never the answer.
“We wanted to make a couple of hardware wallets for our friends. But soon we realized that we had found a big market gap. Now we are one of the most trusted wallets in the world.” — Marek “Slush” Palatinus, Co-Founder of Trezor
“I bought 2 with my initial order. Set one up to use and put the other one in locked storage. I wanted backup plan in case of total failure and another hardware wallet sell out.
Of course it would partially depend on the value of the assets you want to protect.” – Trezor Reddit User
This is the most common reason to get a second hardware wallet: peace of mind.
Imagine this…
• Your device is damaged • Your device is lost • Your device is stolen
It could be as unexpected as your pet eating your device (surprisingly, this has happened multiple times with dogs.)
Or as dramatic as a misplaced or stolen device.
Think of this device as your emergency backup.
With this backup device, you can be ready to access and secure your funds immediately. There is no need to waste time ordering a new hardware wallet. Just enter your PIN and/or passphrase, and you can immediately access your funds to secure or move them.
To be clear, in this case, you are cloning your original hardware device by restoring the same wallet. They will usually be kept in different locations.
Two things happen after you get into crypto…
You buy a hardware wallet
You tell everyone you know about how crypto changes the world!
It’s ok, the moment you get into crypto, you can’t stop talking about it. We’ve all been there.
Gifting a hardware wallet is a great way to help friends and family start their self-custody journey without leaving their assets on an exchange. You can be there to answer any questions.
Like this Trezor Model T user:
“I Bought This Crypto Wallet as a Gift During Prime Days and Scored a Great Deal! The recipient has shared that it’s easy to use and effectively does the job, which is all I could ask for. So, I guess it’s a solid 5 stars from me.”
And if you’re giving a hardware wallet to someone who might need help getting started?
“You only wanna trade BTC -> BTC only firmware. Otherwise, no need. Except if you have tons of BTC/crypto, then consider getting multiple hardware wallets.” — Trezor Reddit Comment
It’s not uncommon to want one device for Bitcoin and one device for other crypto.
Some users prefer to separate Bitcoin from other cryptocurrencies for simplicity and security. If Bitcoin makes up most of your crypto, this might be you.
Interested in our Bitcoin-only devices? You can check them out by clicking here.
If you’re actively trading but also HODLing Bitcoin and altcoins, keeping separate devices makes sense.
• One wallet for trading — connected and frequently used for transactions.
• One wallet for long-term storage — rarely touched, securely stored.
If you’re HODLing for the long term, you don’t want to spend too much time fiddling with your hardware wallet beyond the necessary updates.
Having one device you only use for trading and another securely hidden away is much easier and safer, as you’ll want your trading wallet to hand quite often.
“My thought was it made sense not to put all my eggs in one basket.” — Trezor Forum Comment
You wouldn’t keep all your money in one bank account, so why store all your crypto in one wallet?
• Multiple wallets mean you can split funds across devices, reducing risk in case of theft, loss, or damage.
• You can also use a passphrase (advanced feature) to create multiple wallets on one device.
You can learn more about passphrases here:
This isn’t a fun question, but it is necessary.
Everyone who owns crypto will have to consider this at some point in their life: If something happens to you, can your family access your crypto?
Do they know where your hardware wallet is and how to access your funds in an emergency?
Giving a hardware device to a trusted family member or executor is not uncommon, and it’s usually part of a multisig setup.
This is becoming more common as the crypto economy becomes larger. Here at Trezor, we hold crypto as a business, so having multiple devices and layers of protection to separate business and personal funds makes sense.
If you accept crypto payments or hold crypto as a company, a dedicated business hardware wallet ensures:
• Clear separation of funds • Easier accounting & security
If you own a business and want to manage crypto, getting a second hardware wallet is necessary to manage the funds and be transparent.
Would you feel comfortable carrying your main hardware wallet while traveling?
A secondary travel wallet can hold limited funds while your main assets stay secure at home.
Pro tip: Use a passphrase to create a separate wallet for travel within your device.
Some people collect trainers. Others collect hardware wallets.
Hardcore crypto users love upgrading to the latest, most secure hardware wallet tech.
But having multiple wallets isn’t just fun, it ensures you’re always using the best hardware to protect your assets.
Given how much hardware wallets are often protecting, the investment is often seen as reasonable.
Bitcoin adoption grows through education.
If you teach friends, host meetups, or run workshops, having a dedicated hardware wallet for demos makes learning easier.
At Trezor Academy, we use hardware wallets for in-person education and to help people learn self-custody the right way.
If you’re involved in similar events, it might be worth getting a spare device!
Need instant access to your funds? Multisig probably isn’t for you.
Want extra layers of security and don’t mind the complexity? Multisig could be a great option!
Multisig (multi-signature) is a highly secure way to store crypto, eliminating the risk of a single point of failure.
Instead of relying on just one wallet, multiple keys (usually multiple devices) are required to authorize transactions. This reduces the risk of losing access due to a lost or stolen backup. Some users choose multisig to distribute signing across multiple locations or even to make it harder to access their own funds, such as requiring physical travel to retrieve signing devices.
Warning:Multisig is not beginner-friendly. If set up incorrectly, you could permanently lose access to your funds. Proceed with caution!
