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.
Topic: 5 Reasons Why I Prefer a Bitcoin Mobile Wallet - page 2. (Read 1093 times)
Buying a hardware wallet isn't expensive if you value your assets.
Hardware wallets are mostly being used as a cold storage and each balance that gets in is being kept for a long time. The comparison you made with mobile wallets, they are more prone to hacking.
Hardware wallets are mostly being used as a cold storage and each balance that gets in is being kept for a long time. The comparison you made with mobile wallets, they are more prone to hacking.
Mobile wallets are very convenient and you have your coins always at disposal. They are easy to.use and update. Although they are not so secure as hardware wallets but definetely better than online wallets.
That is why it's good to.combine multiple wallets. Thus you protect your coins at the principle not all eggs in one basket.
Mobile wallet could definetely be one of your choices, especialy for the daily use.
That is why it's good to.combine multiple wallets. Thus you protect your coins at the principle not all eggs in one basket.
Mobile wallet could definetely be one of your choices, especialy for the daily use.
Everyone has the right to a different opinion, and in my opinion the mobile wallet and hardware wallet both have advantages and
deficiency. So it depends on each of you, because everyone has different needs. But in my opinion both very good to use, even I myself
use mobile wallet and hardware wallet. I use a hardware wallet for long-term investment, while I use mobile wallet for short-term
investment.
That's right, We do have different choices in terms of what wallet we are gonna use, I think it will be depending on us on what kind of wallet are we preferring to use and what kind of uses on every wallet. deficiency. So it depends on each of you, because everyone has different needs. But in my opinion both very good to use, even I myself
use mobile wallet and hardware wallet. I use a hardware wallet for long-term investment, while I use mobile wallet for short-term
investment.
I have multiple wallets in my possession. This is the list of my wallets.
- Hard wallet for longterm storage which is I'm rarely using
- Non-custodial online wallet as my main wallet. Short term storage.
- Custodial online wallet as my daily driver for different transactions.
A mobile wallet is a hassle-free type of wallet where you can use it every day with support from the wallet you are using but it is also prone to hacking.
It is better to use more than one wallet than having all of your bitcoin in a single wallet.
Everyone has the right to a different opinion, and in my opinion the mobile wallet and hardware wallet both have advantages and
deficiency. So it depends on each of you, because everyone has different needs. But in my opinion both very good to use, even I myself
use mobile wallet and hardware wallet. I use a hardware wallet for long-term investment, while I use mobile wallet for short-term
investment.
deficiency. So it depends on each of you, because everyone has different needs. But in my opinion both very good to use, even I myself
use mobile wallet and hardware wallet. I use a hardware wallet for long-term investment, while I use mobile wallet for short-term
investment.
If you think I am wrong with my opinion then do comment.
Thanks.
I think hardware wallet still stabds out as the best because by comparing the number of security breach and hack of crypto funds so far from user ends, i think mobile wallets have the highest records. I do agree with you one point though, hardware wallet is quite expensive for someone who is small scale crypto investors but i believe the overall security of managing both hardware and mobile wallet greatly depends on the useramd every user should be responsible for keeping his/her assets save perfectly because i saw a twitter post of someone that lost all his btc to phishing scam with hardware wallet recently
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.
Ever since I started buying and making use of crypto, mobile wallets has always been the thing for me. I do not have interest in any other wallet. I do have a desktop wallet in my computer but I can't even remember the last time I made use of it, because it's pretty useless to me. My mobile wallet serves every purpose and there are lots of features in it, just like in the desktop wallet. So I am not going to stress myself.
The thing is, the same way you're against the use of hardware wallets, same as there are those that are against mobile wallets. Everyone is free to use whatever they want as long as it works for them. But as for me? Mobile wallet is the best for me and I don't have any problem making use of it.
The thing is, the same way you're against the use of hardware wallets, same as there are those that are against mobile wallets. Everyone is free to use whatever they want as long as it works for them. But as for me? Mobile wallet is the best for me and I don't have any problem making use of it.
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.
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
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.
Answers3. 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.
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.
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.
I use both hardware and mobile wallet. I bought the Ledger Nano S from my friend last year for only $100 because he has no plans of using it and needs emergency money. Everyone can express their own opinions regarding the hardware and mobile wallet. I don't have a problem with both hardware and mobile, as I am staying neutral with them.
Both of them has private keys or mnemonic phrases as our last resort if in case we don't remember our passwords. We have to make sure that the private keys or mnemonic phrases are stored somewhere safe on your notebook or a piece of paper (not on email, notepad, screenshot, etc.). Speaking of the screenshot, I learned the hard way when one of my phones got sudden forced factory reset.
You have good points about Bitcoin mobile wallet though. However, I would have to remain neutral on this one.
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Give me a bounty tutorial
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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. 
I don't think it's a wise idea to compare a hardware wallet and a smartphone wallet since both serve their purposes well.
Instead of comparing the advantages and disadvantages of both we should be classifying both separately on the basis of priority.
If a person needs more security and is willing to put in the effort of securely maintaining it then he should go with a hardware wallet.
If a person needs to use his coins regularly and want it to be handy and wants the ability to continuously monitor it then he should go with a smartphone wallet.
Well that's what I believe. Different people have different perspective.
I heavily agree on this one which you the thing you do said was right.This do matters on self perspective and depend on your own needs since both things are really created for their own purpose.Instead of comparing the advantages and disadvantages of both we should be classifying both separately on the basis of priority.
If a person needs more security and is willing to put in the effort of securely maintaining it then he should go with a hardware wallet.
If a person needs to use his coins regularly and want it to be handy and wants the ability to continuously monitor it then he should go with a smartphone wallet.
Well that's what I believe. Different people have different perspective.
and as said when it comes to long term holds then nothing really beats out with hardware wallets and thats what im doing upto these years where i do separate on which one would be traded
actively and which one is really just intended for me to hold.Its just too hassle when you do store up your coins in a HW and you do actively making up trades or spending thats why we
do have mobile wallets which are really very easy to use or simply convenient.
If you think much about keeping hardware wallets safe and updating activities you'll be blamed with the convenience to users of mobile wallets and mobile wallets/web wallets are the most vulnerable. Besides, mobile wallets are for storing a few coins and making payments on the go.
With that been said, it good to use both hardware and mobile wallet one as storage the other for making payment.
With that been said, it good to use both hardware and mobile wallet one as storage the other for making payment.
There are advantage and there are disadvantage as well, if you want good security, then go for hard wallet, but for convenience, go with the mobile wallet.
Actually I am using both, but for my long term investment, I made sure it's already stored in a hard wallet and put in somewhere safe.
Actually I am using both, but for my long term investment, I made sure it's already stored in a hard wallet and put in somewhere safe.
@Vaculin is right, for higher security purposes is better to use a hard wallet but for ease and convenience mobile wallets are an option. It all depends on the amount of funds you feel comfortable with on a less secure wallet like on a mobile but I personally am quite cautious so I use the hard wallets.
I must stress that there aren't good or bad ways its more about something that suits you best.
it simply did not want to work on older Operating systems.
The ting is windows already have stopped pushing updates for older operating systems and they are now vulnerable to attacks more than ever and if anything bad happens to your bitcoins then you will blame the hardware wallet provider for this but instead it was your fault to choose a less secure operating system in the first place. So that's the reason why the companies won't make these compatible with older obsolete operating systems.Mobile wallets are free and mobile. Thats why it one of the best option for traders, especially on iOS
But you should always backup your mobile wallet as it is very mobile so there are high chances of it getting stolen and if there isn't any backup of your wallet then you can come in serious trouble, the same happened to me in the past and i have already learnt from my mistake.
You use different wallets for different reasons my friend. A desktop and mobile wallet is nice if you use your coins regularly and want quick access to your coins. Yes, hardware wallets might be a pain in the ass, but they are way more secure than mobile wallets.
I have to agree with you on the firmware upgrades also being a pain in the butt, because I have done several in the past and I struggled with some of them. Also when Ledger decided to develop their own App, it was a disaster for me, because it simply did not want to work on older Operating systems. (They develop these things for the latest operating systems and do not make it backward compatible with older Operating systems.)
I have to agree with you on the firmware upgrades also being a pain in the butt, because I have done several in the past and I struggled with some of them. Also when Ledger decided to develop their own App, it was a disaster for me, because it simply did not want to work on older Operating systems. (They develop these things for the latest operating systems and do not make it backward compatible with older Operating systems.)
Mobile wallets are free and mobile. Thats why it one of the best option for traders, especially on iOS
my question is does using hardware wallet gives free transactions in every sending of bitcoin to other wallet?
Definitely not free, miners wants to eat to
But using a mobile or hardware wallet you are able to set transaction price by yourself. You can even set 1sat/byte and wait for weeks for confirmation. But I'm 100% sure this variant is cheaper than accepting any fee that online wallet charge you.
You can only use a mobile wallet for temporary when you don't have enough budget to buy a hard wallet. every bounty hunter has experienced this thing when they were new to the industry of crypto and when they gathered enough income to buy one, it's up to them if they want to. But honestly, as long as you have enough money to buy a hard wallet, you gotta buy one cause almost everyone is using it to maintain the highest security of their crypto assets.
I don't think it's a wise idea to compare a hardware wallet and a smartphone wallet since both serve their purposes well.
Instead of comparing the advantages and disadvantages of both we should be classifying both separately on the basis of priority.
If a person needs more security and is willing to put in the effort of securely maintaining it then he should go with a hardware wallet.
If a person needs to use his coins regularly and want it to be handy and wants the ability to continuously monitor it then he should go with a smartphone wallet.
Well that's what I believe. Different people have different perspective.
Instead of comparing the advantages and disadvantages of both we should be classifying both separately on the basis of priority.
If a person needs more security and is willing to put in the effort of securely maintaining it then he should go with a hardware wallet.
If a person needs to use his coins regularly and want it to be handy and wants the ability to continuously monitor it then he should go with a smartphone wallet.
Well that's what I believe. Different people have different perspective.
There are advantage and there are disadvantage as well, if you want good security, then go for hard wallet, but for convenience, go with the mobile wallet.
Actually I am using both, but for my long term investment, I made sure it's already stored in a hard wallet and put in somewhere safe.
Actually I am using both, but for my long term investment, I made sure it's already stored in a hard wallet and put in somewhere safe.
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