Topic: Bitcoin Transactions on Smartwatches? - page 2. (Read 544 times)

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?

Yeah, the small screen of smartwatches makes it more unsafe to transact. I’m using Apple watch and still I find it hard to type letters but when it comes to notification it works well. Smartwatches are growing in term of technology and they really introduce new features every year so who know, maybe the developer will create a better screen for this, the future will tell.

Most smart watch which allows payment right now uses NFC to transfer data. Since the Bitcoin URI is rather small, it wouldn't be too much of an issue to transfer data across to the watch. Security is still somewhat alright since you can set smartwatches to require a PIN to authenticate. The screen should be big enough to be able to display at least majority of the address.

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 idea is good but I don't think it will help Bitcoin because almost people carry their mobile phone ya but Bitcoin may gain some attention from media.BTC

Nice. Never thought crypto would get this far. I have to admit that smartwatches are not as safe as a PC or a smartphone. But at least, the idea is there. It's much easier to lose funds on a smartwatch than on any other device for many obvious reasons. Considering that it's a "watch" anyone could steal it with ease getting access to your crypto funds in a blink of an eye. While it's still possible to do this with a smartphone or a laptop, they have been battle-tested over time with many security methods that would prevent unauthorized access. The limited specifications of a smartwatch compared to the previously mentioned electronic devices, makes it hard (if not impossible) to implement a strong security mechanism against internal or external attacks.

Still though, it's possible to make a good smartwatch that focuses on security above all else. If there's demand for something like this in the mainstream world, I don't see why we can't use it for crypto transactions in the first place. The smartwatch from the given link is relatively new, so it's not as tested (and recognized) as other watches. A crypto wallet app for existing smartwatches, would've been a better option though. Just my opinion



That's certainly true, mate. Smartwatches would only be a "gimmick" or a "niche" for crypto transactions than anything else. If you'd use it for crypto, then it's recommended to store a small amount of money instead of your entire life savings. We'll have to wait and see if the smartwatch market matures enough to be able to talk about a crypto-oriented smartwatch anytime soon. If the crypto phone was announced by HTC, then the next big thing would be a crypto watch (if the need arises).

Allowing to input addresses through the smartwatch by typing them would be a bad, bad idea.

The best thing that could happen is eventually a wallet that lets you send funds to a preset list of addresses. But then again, security becomes a concern.

In 2019 there was an ICO related to the same concept. The startup was called crypto watch. They had planned to raise 6000ETH. Unfortunately it was a failure. The concept is not knew but will have lot of security concern. If a startup is able to address those concern then I think people will invest.

If this will happen it will be more convenient for the users since you are just carrying a normal watch. Who doesn't want a smartwatch that can pay bills and trade. However, how is this possible? Maybe if a complicated transactions such as listed above, it is required to use atleast bigger lcd than what smartwatch have today. It is important for the user to be comfortable so I think it will be better to have atleast a larger screen.

I've seen a lot of ideas like this in the past years I think even the apple watches are already developing this kind of feature where you are getting notify by your bitcoin wallet in every transaction and I think even sending funds could be possible in the future. For sure it will be going to use wifi than using Bluetooth when it is not recommended for most of the people, also the best way was to develop an application that could support this kind of feature in a smartwatches.

Today this is not going to be used, I think it is not recommended to send a large amount of bitcoin in a smartwatches just being practical you could easily miss pointing in a smartwatch worst you could send it to the wrong address, Even today no one use smartwatches to chat or text because it is not reliable. Surely this is going to be available in the future due to development, we are going to see this kind of technology soon.

The UI would need to be redesigned. I haven't seen any Smartwatch yet so i'm not sure what are their limitations, if they are just Android on a wristwatch, i don't see why it wouldn't work. Interacting with the thing (due to size) might be tricky.

OR

The hardware wallet manufacturers could find a way to make a wearable wrist version and be done with it. Oh, maybe adding a clock would be nice too

Yes it would be practical, secure depends.

This would be awesome!
I like the idea of using a smartwatch for crypto transactions but wouldn't the screen too small for this one?
If a smartwatch can connect to the internet alone without your phone I think this is possible.

I read "crypto portfolio" and this popped up in my mind. A smartwatch app for cryptocurrency portfolios would be a good idea. There'd be no information at risk except balances.

Now regarding the Bluetooth part, I am very curious to know how vulnerable a smartphone with Bluetooth turned on is. If you're using some smart gadgets, be it airpods or a smartwatch, you always have to keep your phone's BT on. But I guess phones' security can not be compared to a smartwatch's..

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.

A wallet app could easily port their app UI to a smartwatch, or better yet, have it paired with the phone nearby. Before making any transaction, the smartwatch would ask for a PIN (for security purposes of pther people trying to connect with the phone to spend someone's coins).

The idea of having it on smartwatch is almost the same as having a card, or using your phone's NFC for payment, which is actually convenient.

It will be for ease which I think too. But most reply would might be cons because we haven't experienced it yet. Can't say the potential of it until we use it with our daily lives or with most of our transactions. With sending bitcoin to other addresses, this will still require a smartphone or if not, you can only transact with the person near you to scan qr codes. I'll wait the tech experts to see if this is really a viable idea and if it will be adopted by most.

I won't use my smartwatch also for this purpose. I have one, but when it comes to my crypto portfolio, I won't take the risk besides it is too hard to use the smartwatch even when you are copying the btc address to another site. The screen is too small for me. And with the bluetooth in use, this is very easy to penetrate with. I even don't use my smartphone in my crypto transactions. I still prefer computer or laptop to do my transactions in the web.

I don't think it'd be very secure due to the connection method (Bluetooth). When you have your smartwatch connected to your phone, you have to keep the bluetooth permanently on. Watches can be exploited and other devices could pair with it if the smartwatch has the option to deny access to unknown devices turned off. I'm no security expert but I am sure that even with all security options turned on, they still pose a risk.

A 2015 test by Hewlett-Packard (HP) resulted in 100% of the smartwatches successfully exploited.
If that's too old, a 2018 Kaspersky security research on smartwatches ended in negative results too.

Smartwatches are cool and all, but they haven't been around long enough yet imo to be considered secure enough to have Bitcoin wallets on them. An idea I would go for though would be an app that would display QR codes for addresses you'd input from your phone on a list. The only risk you'd be exposed to is having your public addresses exposed to a hacker.

If a wallet would be released for these devices, they would become the next target for hackers. And as today I don't think many hackers are focusing on smartwatch vulnerabilities because there isn't much to be extracted from them, such news would make them turn their focus 180 degrees straight to the smartwatches.

I actually saw a smartwatch that was designed for this exact functionality just the other day;

Check it out: https://bitcointalksearch.org/topic/ann-bithd-watch-a-wearable-cold-wallet-for-cryptocurrencies-5104019

Not sure if it's legitimate though, it's worth doing some background research on it before buying.

I did notice that this is their second generation watch though, which indicates they've been in the game for at least some time. Maybe see if there's any of their 1st gen watches floating around on Ebay to demonstrate that they actually shipped.

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!