5 Reasons Why I Prefer a Bitcoin Mobile Wallet

Sanugarid

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Quote from: finaleshot2016 on June 26, 2020, 11:23:41 AM

Quote from: famososMuertos on June 26, 2020, 08:45:34 AM

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

True, if you are not encountering any problems on a device, it's doesn't mean it will keep you safe forever from hackers.

Any thing doesn't guarantee everything. Have you heard mobile wallets saying we are unbreachable? instead they are saying " we are secured platform blah blah . . ." and these two are different.
I must agree that most of mobile wallets are secured, it has an encryption from our technology which makes it harder to breach, but always remember that there is no safe system. Even bitcoin's algo can break by supercomputers.

Quote from: finaleshot2016 on June 26, 2020, 11:23:41 AM

The point into this, we shouldn't share something biased statements because we all knew that the mobile wallet isn't the practical wallet. This kind of thinking is not applicable in choosing devices but in general, be practical and choose those things that will benefit you a lot and has more assurance.

Well for me using a mobile wallet is practical, what is not for me is buying a hardware wallet but for some they do coz they want a fully secured wallet. Still at the end of the day, it is you that keeps your own money.

Swordsoffreedom

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Quote from: LbtalkL on June 26, 2020, 10:37:07 AM

That is the disadvantage of Hardware wallet if you lost it, goodbye to your coins. It is tiny as Flashdrive if you own a hardware wallet be responsible. We can agree on one thing I prefer mobile wallets too compared to Desktop wallets which you need to synchronize every time when you use it. If you have slow internet, a desktop wallet is a pain in the ass. These hardware wallets are much safer than any wallet of course but I have my own preference. If you lost your phone or is it is broken, it is not the end yet if you save the private keys or passphrase somewhere.

You are right, both have some advantages and disadvantages too. There is nothing in the world that only gives advantage. Everything has some good or bad side. you told the disadvantage of hardware wallet, but you know it is safer than mobile wallet or software wallet. If you lost your hardware wallet, that is entirely your fault, your unconsciousness. But if your mobile wallet is scammed or hacked, it is the problem of your mobile wallet or operating system. If we use hardware wallet consciously then I don't think there is any reason to worry about hardware wallet.

Bitcoinislife09

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Quote from: pakhitheboss on June 10, 2020, 11:38:03 AM

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place. My personal favourite is Mycelium wallet.

As of my experience, these are
My Five REASON Why I do not want to buy them?

1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.

If you think I am wrong with my opinion then do comment.

Thanks.

One of the Members compared my 5 reasons with his reason why a hardware wallet is better? and I replied to that member adding 5 more reasons.

Questions

Quote

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

Answers

Quote

2. The chance of losing a mobile phone is very less as they are no more a palm device like hardware wallets. Another best thing about mobile devices now days is that they can be tracked and as well as disabled remotely.
3. Why would you want to make your life complicated using both devices? Choose one which has multiple usages like a mobile device.
4. They get auto-updates periodically which you do not need to monitor. You have to manually update and monitor updates.
5. Both android and iOS have firewalls they cannot get hack automatically unless the user downloads a malware. But, hardware wallets can be easily detected by that same malware when you are trying to update it.

The main thing that the mobile bitcoin wallet gives is I think the portability that it gives to the users. You could just open some of the hardware wallets on a personal computer which is not reliable. Having a mobile bitcoin wallet gives you an easy access anywhere like for example if you need to pay in a grocery store or some other restaurant you could just easily use your mobile phone to pay. But of course, compared to having a hardware wallet it is more secured than having a mobile wallet.

Chime19

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There is no advantage in Mycelium wallet. that is not found in any other wallet, and we cannot describe an open source wallet as bad, but it does not contain all the features that you are looking for.
I prefer each operating system to have its own wallet, for example Electrum for window.
Electrum for Android
BRD for IOS
bitgo for webwallet.
and you can go to bitcoin.org and choose any wallet. all of them are good and security.

finaleshot2016

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Quote from: famososMuertos on June 26, 2020, 08:45:34 AM

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

True, if you are not encountering any problems on a device, it's doesn't mean it will keep you safe forever from hackers.

The point into this, we shouldn't share something biased statements because we all knew that the mobile wallet isn't the practical wallet. This kind of thinking is not applicable in choosing devices but in general, be practical and choose those things that will benefit you a lot and has more assurance.

LbtalkL

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That is the disadvantage of Hardware wallet if you lost it, goodbye to your coins. It is tiny as Flashdrive if you own a hardware wallet be responsible. We can agree on one thing I prefer mobile wallets too compared to Desktop wallets which you need to synchronize every time when you use it. If you have slow internet, a desktop wallet is a pain in the ass. These hardware wallets are much safer than any wallet of course but I have my own preference. If you lost your phone or is it is broken, it is not the end yet if you save the private keys or passphrase somewhere.

Golftech

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Quote from: famososMuertos on June 26, 2020, 08:45:34 AM

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

You need to secure your funds knowing how to properly setup your wallets and how to manage to make more secure is really important while you are
using crypto wallet, both investment or using it for your daily transactions.

It's best to keep your money from any form of hacking, if you have huge money to invest or to convert into crypto better to split so just in case there's
issue you can switch between wallet to another.

ghost424

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It is not just Bitcoin Mobile Wallet which is useful nowadays. Using cashless transactions are more suggested now due to the fact that people do not get to face other people in this time of Pandemic (which only applies to a few countries now). We know that using Bitcoin Mobile Wallet will be really good because you can use it to pay for whatever you will be purchasing. Bitcoin wallets are more secure due to the fact that it will require various authentications before the transfer of Bitcoins.

famososMuertos

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We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

Triorius

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Hi! Maybe you can consider the following option which i use. That's a blackcatcard with a hot crypto wallet. That's its separate feature, not a crypto bank account. You exchange crypto into fiat EUR in the app and top up a euro account with money and then pay anywhere mastercard is accepted. For me that seems more secure than ordinary exchanges as here the hot wallet is linked to the bank card which is highly protected.

NavI_027

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Quote from: kawetsriyanto on June 14, 2020, 06:59:06 PM

And what we take is based on the risks that we want to face.

Yeah! Actually, I also do prefer hardware wallet above all things but the problem is its cost over the amount I can save to it. It's way too impractical. So for now I stick on my mobile wallet since I'm not so wealthy yet. Hmm, maybe I shift into desktop once I finally started my goal of daytrading and soon use hardware wallet as my money grow. Everything should be done on a step by step process Cheesy

.

But if I were asked, I find mobile wallets as safe as the other options. As long as you are not clicking anywhere with no apparent reason, avoiding your phone to get stolen and keeping the passwords, there's nothing to worry about.

kawetsriyanto

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Well, actually the most secure may be the hardware wallet. But if it is related to the cost, you may prefer to others. however, the use of a hardware wallet not also depends on how much do you have. if you have a big asset to BTC, it is better to store the BTC in a hardware wallet. We may not risk our big asset only to save some money. It is better to pay for the cost of a hardware wallet to make our BTC secure enough.

However, if we only have a small amount of BTC, I think I will prefer the desktop wallet. today, the Electrum wallet is enough for me and I use it for the most transaction. So far, they are safe enough. But of course, we must be careful and also vigilant to secure all-important details and data. Every wallet has positive and negative sides. And what we take is based on the risks that we want to face.

Krislaw

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1. Hardware wallets are not cost and a bounty hunter could easily save for purchasing one
2. There are also reports of users losing their investment from mobile wallet hack. You should be responsible when operating a wallet.
3. I don't understand your point here. The moment that you're planning to get an hardware wallet, you should know that it isn't like a mobile phone. BTW, it comes with instructions, there are also video tutorials.
If you're talking about exchange support, hardware wallet provides it's users with wallet addresses which mobile wallets have too.
4. Periodically? Who doesn't update mobile wallet? Sometimes, new update comes with amazing features and bug fixes.
5. Hack happens everywhere if you don't know how to secure what you have.

My conclusion here is that either you don't like hardware wallets or you can't afford one.

Ryker1

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Quote from: Leviathan.007 on June 14, 2020, 04:41:22 AM

Depends on yourself, but I never prefer mobile wallet since I know it's possible for me to lose my phone, break it or someone steals my from in the street. In this case, without a backup you will lose all your funds, unfortunately.
If you hold a huge amount of bitcoins the best idea is to use hardware wallets and keep it somewhere safe. About number "5.", as far as I know they can't not be hacked like this because even if you have active Trojan, malware, etc .... in your computer you use hardware wallet on it there is not any chance for the malware to get access into your wallet.

Well, sounds like you are right there. A mobile wallet is very risky to use if you don't have aback upon it and it seems most of them are a custodial wallet ^{[unlike the open-source wallet]} that you are not holding your own key. I used a mobile wallet but not for intended in holding for the long run, --I always prefer on hardware wallet which is we can more trust because we know that the backup seed is in our hands and nobody knows. Spending a little amount of you bitcoin just to buy hardware wallets in storing your crypto, in the long run, is worth it.

Gaaara

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As well as all of what you said is fact, mobile wallet has more features of course its a digital wallet and the other thing is that mobile wallet has updates where more features is coming where as hardware wallets' only purpose is to store your bitcoin and that's all.

Magd solieman

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Bitcoin wallet on mobile is the common method used by many, especially after the companies that manufacture the wallets raced to create cold wallets, which made storing cryptocurrencies safer, easier and more reliable as many crypto operators started using cold blockchain instead of the old version.

Triffin

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Quote from: blue Snow on June 13, 2020, 04:01:34 AM

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Give me a bounty tutorial

you posted out off topic.

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I think that we should use both wallets depending on the type of activity we do. Fortunately, each of them receive updates periodically to provide protection and a good experience for their users.

I will save hugh balance on hardware wallet and keep small (under 0.01 BTC) balance on smartphone because easy to pay some bill while mobile.

Phone can get lost anytime so we should remain concerned about the safety of our bit coins. For using we should keep some bitcoin sperate in phone wallet but otherwise I think keeping bitcoin in hardware wallet or in blockchain. It is really safe when you hold your bitcoins in blockchain wallet. It will not be hacked and easily accessible whenever you need to use it.

taufik123

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Everyone has different beliefs and perceptions in everything. Especially the use of bitcoin wallets on mobile or hardware wallet bitcoin.
Has advantages and disadvantages of each. OP's opinion about the use of a Bitcoin Wallet on a better mobile would be a reasonable choice because the OP is accustomed to using it.

The most important thing is to maintain the security of each type of wallet used. If you use a mobile wallet, you must keep from malware that lurks and never install unknown applications, because cell phone wallets are very vulnerable. Especially if the phone is lost or stolen by someone else, make sure all data is safe.

Hardware wallet has better security than mobile wallet (that's a fact), because it has been designed in such a way as to be used by people who really understand and need a secure wallet with better security.

oleg8791

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People recommend hardware wallets as they are the safest ones. I think cold wallets are essential for storing big amounts of crypto. But I never recommend a newbie to buy an expensive hardware wallet.

blue Snow

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Quote from: The cure on June 13, 2020, 06:11:48 PM

I think we shouldn't compare hardware and mobile wallet because it has their own purposes in different ways. mobile wallet is a convenient way for us to use in so many ways of transacting, but if you want to secure your private keys more secured then use a hard wallet.

it's still one purpose, compare it both make you more secure. You should read this https://bitcointalksearch.org/topic/ann-bithdcom-razor-card-design-hardware-wallet-released-5118062 that's hardware wallet especially phone

Topic: 5 Reasons Why I Prefer a Bitcoin Mobile Wallet (Read 1093 times)