Bitcoin Transactions on Smartwatches?

Abiky

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Quote from: NeuroticFish on February 08, 2020, 05:37:00 AM

Smartwatches still have quite a small display and you may end up missing some info and making mistakes. I'm not sure what you can type there, the small display is again an issue. And if a smartwatch wallet would be made, in a way or another, such a wallet will have to support hardware wallet.

I think that we should see the notifications on smartwatch, but keep the wallets of the smartphone for now.

The small display is a BIG issue for crypto transactions. It'll be quite difficult for people to be able to clearly read public keys or transaction hashes on the device. If the need arises for a Bitcoin-powered smartwatch, companies could simply create some sort of mechanism that would solve this issue (bigger fonts, scrolling text, etc.). But if people in the mainstream world continue to use smartphones more thoroughly, it would be rather unprofitable for mainstream companies to design a smartwatch that acts as a hardware wallet for crypto transactions.

Until now, a Bitcoin-powered smartwatch is more of an idea/dream than anything else. I've seen a new smartwatch company announced on BitcoinTalk a new smartwatch that acts as a hardware wallet for crypto. But I wouldn't trust it with my hard-earned funds as smartwatches are not proven to be safe unlike a computer or a smartphone. Besides, the company is relatively new to the crypto/Blockchain space. This makes people skeptical about using its products. But some serious companies like Samsung or Apple, could gain a lot of traction in the future if they ever decide to create a smartwatch that would serve as a hardware wallet for Bitcoin/crypto transactions. Just my thoughts Grin

joeperry

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Honestly, I haven't seen anyone used smartwatch to do Bitcoin transactions. Although, there might be advantages like convenience and ease of usage through required acute steps in performing transactions there may also be drawbacks. I don't think the transmission mode will make this very safe due to smartwatch should be connected to a smartphone, and interruption of connection between devices could result into error. Watches can be hacked and if the smartwatch has the ability to cut off access, switch off impairment and could be coupled to unidentified devices other devices then there is a great risk.

RealMalatesta

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I have been making use of a smartphone and it has been working perfectly, I have never had any problem with using a smartphone to store my cryptocurrencies and also for a transaction. As for using a smartwatch, it is something that the devs need to look into and in this case it would be best to recommend it straight to them so they can look into it and see whether it is possible.

I once used a smartwatch and its really cool, but to be honest I never used it for anything else except from checking time lol. I did see other features in it and you can even receive WhatsApp messages on it, but I still preferred my smartphone to it. Everyone's choice differs and like I said, it's up to the devs to meet up to that.

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Quote from: 20kevin20 on February 11, 2020, 04:09:08 AM

Another problem comes with usage though. You will only probably use the app on your smartwatch once every few months.. You don't use it everyday.

That's what I thought as well when it comes to apps on smartwatches, but it seems that I was wrong thinking so. I know a few people around me who keep interacting with their smartwatch even though I don't see why they bother wasting time on such a small screen trying to figure out the weather, price information of stocks etc, typing messages and the list goes on.

Somehow they convinced themselves that it's useful, which means that the companies behind those watches have done well marketing their product. I wouldn't buy one myself, but if people want to waste their money on those gadgets then so be it. They waste their own time and money, not mine. Cheesy

It takes me a few seconds to pull out my smartphone and properly utilize the applications. Having a smartwatch will only form a burden to my daily use.

cramcram21

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This would be great but it wouldn't really be something that we would want to have,
I mean it would be hard for the owner since they would need to put their password anytime that they would use it and people could easily see it.
What if some people found out that they have a big amount of crypto on their wallet and they have seen the password from the smartwatch ?

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Quote from: panganib999 on February 08, 2020, 09:16:17 AM

What's the use of the smartphone if you will adapt it in a smartwatch? That's useless, although smartwatches are more handy. But if you have a smartphone, you don't really need to buy a gadget that also have features in a smartphone, because that's a waste of money. But if you don't want to be hassle when you go out with your friends, it is preferable to use smartwatch. But being practical bitcoin holder, smartphones are more secured and safe when having transactions in bitcoin. Also the screen of smartwatch are most likely small and it is hard to read, in transactions, to ensure things before sending it into a wallet address is very necessary, so it is risky to use smartwatches.

Well, then.. why use a smartwatch for messages and calls when you have a smartphone that has the same features. Right?

Practicability is the answer to your question. But practical doesn't always mean secure. As I said, the smartwatch screen could act as a "Receive" QR code display for ease of use, as it would be easily accessible within the tap of a finger.

Another problem comes with usage though. You will only probably use the app on your smartwatch once every few months.. You don't use it everyday.

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Quote from: Tduty on February 06, 2020, 05:21:00 PM

Using a smartphone to transact bitcoin is still a great experience for me, but it would be great to see if we can do it through smartwatch! I think this is very easy to apply it in smartwatch through Bluetooth connection as you can't use wifi everywhere!

I think it would be a hard time if we will be do bitcoin transaction through the use of smartwatches because first of all smartwatch are small in terms of size and it would be a hard time to use it when transacting bitcoin especially when we will do trading in the smartwatches so it is kind of hard.
It would be hard also to apply it on smartwatch because smartwatch need some ip address in order to make a transaction with bitcoin thing.

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Quote from: Gumpfire on February 11, 2020, 03:40:13 AM

Quote from: Abiky on February 06, 2020, 05:14:54 PM

I've seen many Android-powered smartwatches out there with capabilities to run apps in the same way (almost) as an ordinary smartphone would. On the other hand, we have the Apple Watch which runs its variant of the iOS system. Imagine being able to install a lightweight wallet like Electrum on a smartwatch to send/receive Bitcoin transactions. After all, most of these (if not all) smartwatches have Wi-Fi capabilities, Bluetooth, and more. By integrating Bitcoin wallets into smartwatches, you can truly send/receive transactions anywhere with ease. I'm sure not if this is possible yet (as I don't own a smartwatch). But if a developer decides to create Bitcoin wallets for smartwatches, I'll be a big hit within the mainstream world.

What are your thoughts? Is something like this practical/secure? Or is it better to continue using smartphones for Bitcoin transactions? Huh

This can be possible, as we can see many of the devices nowadays have many features for the convenience of the users. If bitcoin and other cryptocurrencies will be used as a usual method of payments, there will be high chances that it can be launched in smartwatches. With the technology we have nowadays, it is not impossible to create that feature in the near future.

of course using smartwatches can do bitcoin transactions it's just possible smartwatch will be equipped with sensors for barcodes to make transactions because if it will facilitate its use and because of the very small display of smartwatches I think only barcode sensor solutions can be used for transactions with cryptocurrency because if you have to enter Manually address it will complicate its use.

the usage scheme might be like this
Smartwatches -> Scan For Login -> Verification -> Display balance -> Scan for transactions -> Confirmation -> Payment successful.

Gumpfire

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Quote from: Abiky on February 06, 2020, 05:14:54 PM

I've seen many Android-powered smartwatches out there with capabilities to run apps in the same way (almost) as an ordinary smartphone would. On the other hand, we have the Apple Watch which runs its variant of the iOS system. Imagine being able to install a lightweight wallet like Electrum on a smartwatch to send/receive Bitcoin transactions. After all, most of these (if not all) smartwatches have Wi-Fi capabilities, Bluetooth, and more. By integrating Bitcoin wallets into smartwatches, you can truly send/receive transactions anywhere with ease. I'm sure not if this is possible yet (as I don't own a smartwatch). But if a developer decides to create Bitcoin wallets for smartwatches, I'll be a big hit within the mainstream world.

What are your thoughts? Is something like this practical/secure? Or is it better to continue using smartphones for Bitcoin transactions? Huh

This can be possible, as we can see many of the devices nowadays have many features for the convenience of the users. If bitcoin and other cryptocurrencies will be used as a usual method of payments, there will be high chances that it can be launched in smartwatches. With the technology we have nowadays, it is not impossible to create that feature in the near future.

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Quote from: carlfebz2 on February 10, 2020, 11:33:49 AM

Quote from: Abiky on February 06, 2020, 05:14:54 PM

I've seen many Android-powered smartwatches out there with capabilities to run apps in the same way (almost) as an ordinary smartphone would. On the other hand, we have the Apple Watch which runs its variant of the iOS system. Imagine being able to install a lightweight wallet like Electrum on a smartwatch to send/receive Bitcoin transactions. After all, most of these (if not all) smartwatches have Wi-Fi capabilities, Bluetooth, and more. By integrating Bitcoin wallets into smartwatches, you can truly send/receive transactions anywhere with ease. I'm sure not if this is possible yet (as I don't own a smartwatch). But if a developer decides to create Bitcoin wallets for smartwatches, I'll be a big hit within the mainstream world.

What are your thoughts? Is something like this practical/secure? Or is it better to continue using smartphones for Bitcoin transactions? Huh

Dont know if this one do able to pull it off or not https://www.coindesk.com/aegis-wallet-wear-brings-bitcoin-android-smartwatches
I would say that this isnt a bad idea though but when we do talk about the demand of these bitcoin crypto smartwatches wont really be that high.
Yes, its truly accessible and less hassle but we can actually do those things on our smartphone.

Same though bro, This is what innovation brings us. But It's true that there's a higher chance that it won't be highly marketed and the demand might be low because the smartphone really can do the job, The only thing that makes it as an advantage for me is it is wearable and you can flex it out on your friends Wink

. In our country, There's not so many stores or merchant that is accepting bitcoin as payment so I think it might not be used much. Plus the security of the wallets, A watch may fall or be lost in somewhere and it might be hijacked by somebody, It has a safety feature I know but I think it won't do much.

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Quote from: Abiky on February 06, 2020, 05:14:54 PM

I've seen many Android-powered smartwatches out there with capabilities to run apps in the same way (almost) as an ordinary smartphone would. On the other hand, we have the Apple Watch which runs its variant of the iOS system. Imagine being able to install a lightweight wallet like Electrum on a smartwatch to send/receive Bitcoin transactions. After all, most of these (if not all) smartwatches have Wi-Fi capabilities, Bluetooth, and more. By integrating Bitcoin wallets into smartwatches, you can truly send/receive transactions anywhere with ease. I'm sure not if this is possible yet (as I don't own a smartwatch). But if a developer decides to create Bitcoin wallets for smartwatches, I'll be a big hit within the mainstream world.

What are your thoughts? Is something like this practical/secure? Or is it better to continue using smartphones for Bitcoin transactions? Huh

Dont know if this one do able to pull it off or not https://www.coindesk.com/aegis-wallet-wear-brings-bitcoin-android-smartwatches
I would say that this isnt a bad idea though but when we do talk about the demand of these bitcoin crypto smartwatches wont really be that high.
Yes, its truly accessible and less hassle but we can actually do those things on our smartphone.

thesmallgod

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I do not know if you have heard about a project called gymreward. They intend developing a wrist band that can monitor your heartbeat rate with the help of Bluetooth and mined a GYM token. This wristband can also serve as a wristwatch and will also be capable of receiving a different type of tokens. Unfortunately, the project could not even raise up to 5 ETH but the team has been running and developing the project using their own money. I think this is a fantastic idea and it one of the novel ideas that has not dominated the crypto project base compare to some other projects such as crypto banks and developing exchange platforms.

isaac_clarke22

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It is practical actually. The security would be a bit of questionable though. I don't really use mobile crypto wallets that much but it would seem like I would use soon when this gets implemented.
I kinda remembered a thread in an altcoin discussion about a device that could help people mine crypto by mining. That feature could also be an addition to these smartwatches, although it wouldn't be as powerful as desktop mining.

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Quote from: murat131 on February 08, 2020, 02:15:24 PM

You can show QR on watches and via this recieve money. sending is harder but its a good start

With a small camera to scan qr codes from others? That part is actually simple. And the connection direct wifi.

People could also scan bill amounts or type numbers in. I see it easier thinking hardware wallet on a wrist than a full android device, but that could be done too.

Of course the point is that it could work without any other device around, otherwise it makes no sense. Its fine to do some minor syncing and configuration at home but that should be it.

murat131

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You can show QR on watches and via this recieve money. sending is harder but its a good start

shield132

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Major smartwatch manufacturers are: Apple, Fitbit (owned by Google), Samsung, Xiami, Huawei, Garmin and others.
I highly doubt we will link between crypto and smartwatch by Apple and Fitbit because both of them have their own payments methods (apple pay and google pay) and it's their priority, not bitcoin.
But can't say the same on others, it's 100% expectable from another smartwatch companies, especially from Samsung since it put blockchain wallet on S10. But at the same time, to be able to pay with bitcoin, you need to scan QR code and as for now none of smartwatch has that capability, that's recently when they added voice recognition option and can talk via smartwatch (On fitbit you can talk to Alexa too).
I think it will be good if coinbase and similar services offer people NFC payment via smartwatches (they need contracts and etc) where we will be able to pay from our bitcoin wallet that will be automatically converted into USD during payment.

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Quote from: hatshepsut93 on February 06, 2020, 06:56:38 PM

Quote from: Abiky on February 06, 2020, 05:14:54 PM

What are your thoughts? Is something like this practical/secure? Or is it better to continue using smartphones for Bitcoin transactions? Huh

I never met a person in my life that owns a smartwatch. The market share of smartwatches compared to smartphones and tablets must be minuscule. And people who own a smatwatch most likely own a smartphone too, so it shouldn't be a problem for them to have a Bitcoin wallet with them. I never used a smartwatch, but I'm pretty sure it's more convenient to do Bitcoin transactions from a bigger screen of a smartphone.

So, to answer your question, it doesn't seem to be very practical or relevant to the userbase, and as others pointed out, it's likely insecure.

What's the use of the smartphone if you will adapt it in a smartwatch? That's useless, although smartwatches are more handy. But if you have a smartphone, you don't really need to buy a gadget that also have features in a smartphone, because that's a waste of money. But if you don't want to be hassle when you go out with your friends, it is preferable to use smartwatch. But being practical bitcoin holder, smartphones are more secured and safe when having transactions in bitcoin. Also the screen of smartwatch are most likely small and it is hard to read, in transactions, to ensure things before sending it into a wallet address is very necessary, so it is risky to use smartwatches.

Darker45

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Quote from: Abiky on February 06, 2020, 05:14:54 PM

I've seen many Android-powered smartwatches out there with capabilities to run apps in the same way (almost) as an ordinary smartphone would. On the other hand, we have the Apple Watch which runs its variant of the iOS system. Imagine being able to install a lightweight wallet like Electrum on a smartwatch to send/receive Bitcoin transactions. After all, most of these (if not all) smartwatches have Wi-Fi capabilities, Bluetooth, and more. By integrating Bitcoin wallets into smartwatches, you can truly send/receive transactions anywhere with ease. I'm sure not if this is possible yet (as I don't own a smartwatch). But if a developer decides to create Bitcoin wallets for smartwatches, I'll be a big hit within the mainstream world.

What are your thoughts? Is something like this practical/secure? Or is it better to continue using smartphones for Bitcoin transactions? Huh

I am not using a smart watch primarily because I don't like wearing one, and also because I don't think it is really needed. It is more of a product of consumerism more than it's an invention to add convenience to my day to day life. That's just my personal idea, though. So in terms of practicality, I think it does not really make things significantly better. If the role of the smart watch is to copy that of the smart phone in terms of Bitcoin wallet compatibility and capability of sending or receiving Bitcoin transactions, it is an unnecessary technological addition. It is enough that a smart watch notifies us of an incoming transaction, or a failed one, or a confirmation, and so on.

imstillthebest

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smart watches are like smartphones so expect that it can also run a crypto wallet or access the web to do crypto transactions but the only difference is that its more portable which is good because people on the go can transact easily . it was like carry a credit card on you . when it comes to security id say apple are more secure compare to android smart watches but they are more costy . i dont own a smart watch but im already happy with my phone and lappy . i can still transact normally without major issues .

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Quote from: Wexnident on February 08, 2020, 06:14:41 AM

Isn't it relatively satisfactory already to use smartphones to transact Bitcoin/Cryptocurrencies? The integration of applications of smartphones to smartwatches is a result of determining what the normally used apps are in terms of our everyday lives ( IMO that is ). Seeing as most of the world doesn't even know anything about crypto, I doubt a product such as what you want would come. On the other hand, before such features pop up, most smartwatch makers would probably integrate online payments using fiat currency, before the integration of cryptocurrency.

There's also the issue of security and UI design which makes it kind of unsuitable for transactions. By the end though, in the future, smartphones may cease to exist already and people just use smartwatches with some kind of hologram visible only to their eye or something, Just a guess cause imagination is the limit, right?

Today one of the fastest and growing technology and innovation is the smartwatch. Many people make a lot of investment because of that watch because it is like a smartphone and converted into a clock with the use of the connection like the Bluetooth of both devices; they can now access both. In smartwatch, we have the same applications as our mobile phones that can play music, view photos, time, and more. But today I think the application like cryptocurrency trading is still not supported by the smartwatch because we want to have a good quality of transactions and security it is better if we use our smartphones to make transactions. After all, having a small screen into the smartwatch and sending some addresses can make a mistake by having misclicks still; it is better to use the phones or computers to transact.

Topic: Bitcoin Transactions on Smartwatches? (Read 542 times)