This article describes how to use the labeling function, and its purpose.
Labeling is an excellent way to organize your cryptocurrency wallet and to keep track of your transaction history. Moreover, all your private data is secured and readily available from any computer. All the information you add is automatically encrypted by a key derived from your Trezor device and uploaded to your personal Dropbox or Google Drive folder, or downloaded to your computer. For more information about how Trezor works with Dropbox, see the last section of this article, How do Trezor and Dropbox work together?.
Setting up labeling
- Click on Enable labeling under the general settings of your Trezor Suite.
- Click on the Connect to Dropbox button, or Connect to Google Drive button in the pop-up window that appears.
- Log in to your cloud account. If you do not have an account yet, create one. Both services offer a certain amount of free storage.
- Once logged in, Trezor asks for your permission to create a folder in your cloud storage to store the labels. Confirm to proceed.
- Finally, enable labeling by confirming it on your Trezor device. This encrypts the files using a private key derived from your Trezor.
Congratulations! You are ready to use Trezor Labeling.
Once you enabled labeling, visit Device settings and scroll down to the Customization area. Enter a new account name and confirm by clicking on. Confirm the action on your Trezor device. The account now has a new name.
How does Dropbox work with Trezor?
It is quite simple. Trezor Wallet creates a folder "/Apps/Trezor/" in your Dropbox and stores labels for each Trezor account in a separate file. To be safe in case you lose access to your Dropbox account, you can also back up the files in secure storage somewhere else.
All files are encrypted using a private key derived from your Trezor for this single purpose. It is not possible to use Dropbox to gain access to your payment history, to your actual account balance, or to your recovery seed!