In a bid to make Trezor Wallet more functional, SatoshiLabs integrates exchanges ShapeShift and Changelly making it possible for users to exchange cryptocurrencies without leaving the wallet itself. The exchange process if pretty simple; there is a Trezor-wiki instruction.
Trezor as a hardware wallet and a non-custodian service can be used without the need for KYC. But if the two integrated exchanges require KYC, then the registration and verification is to be undertaken by the exchanges. SatoshiLabs and Trezor will not process or request for any of the user’s personal data.
The KYC issue has created a stir among the community. Some voiced their opinions on Twitter stating disappointment that Trezor took the centralized exchange path, while others are asking what information Trezor will give to the exchanges:
worst part is that all this services asks for KYC once funds r in their control. People should know true behind services like that. At stake was 100bch and OP from that post was locked for 3 months until week ago when people started pressurise them.— ⚡s1lverbox⚡ (@cryptochangex) October 22, 2018
The officials and other part of community keep on reminding that this is not a compulsory procedure for general usage of the wallet:
Your public address (sending and receiving). That's all. KYC is not implemented in Trezor Wallet. And won't be.— Bach ($ sed 's/🎃/👻/g') (@_xbach) October 22, 2018
Then don't use this completely optional feature that changes nothing about your HW or private keys.— 🎃 BTC Batman 👻 [Bitcoinaire!] 🎃 (@TheShadowBanman) October 23, 2018
ShapeShift and Changelly
Swiss-based company, ShapeShift AG, has several cryptocurrency products under its umbrella: CoinCap, KeepKey, and ShapeShift.io which allows for trades of BTC and altcoins such as ETH, and LTC through its platform.
The Changelly platform equips wallets with its API to achieve a seamless exchange for a variety of digital assets.