Topic: Hardware digital wallets on smartphones? (Read 360 times)
hardware wallets on mobile phones are very helpful for many people, but the use must be careful because mobile phones are vulnerable to virus attacks, especially Android-based cellphones
I'm waiting to see how it will happen, if truly it will be a viable alternative to other wallets already available.
i consider it a safe or safer way of cold storage and i prefer it to the regular web downloaded personal computer wallets that we have to download and consider rebooting our systems anytime one wants to check his wallet if he has a transaction that has be sent.
This is a new idea which is an eye opener. This is something new that can be applied in the real world. Note that each unit of smartphones are different from each other which could make a limitation as to similarities between each unit. So I firmly believe that hardware wallets can be made out of cellphone units as identifier. All we need now is a project that allows this to happen in reality.
The encrypted money wallet that develops mobile phone port is certainly not very safe, after all, the mobile phone port is not very safe, actually the virus of the mobile phone is much more than the computer, in the case of insecure wifi, it is the easiest to leak the private key, so it is recommended that the computer wallet.
If hardware digital wallet can make transactions, safekeeping cryptos simpler and faster then I think it would prove to be a very good invention. Portable wallet system has been introduced earlier which has proved to be great concept. The simper we can make the process for the users, the higher chances of it to take the market by storm.
Yes, this is a great thing that is soon to take place int he crypto currency market. Given that this market is very much in demand, and if companies adapt to this means of payment, it will make the everyday transactions more easy for the people.
Smartphone a smart phone that has a level of 'impenetrable security' and is designed specifically to provide security in storing cryptocurrency or digital currencies like Bitcoin, it is very helpful at all.
Users thrive in a cheap way to store their coins, so it will see good demands as they become available. Digital hardware bundles are in great demand and will be very promising if their credibility and security are transparent
Yes, I also think the hardware digital wallet is a necessity and would be a really good invention if the organization who are making it can prove their credibility and security among their user base. Users are always looking for simple and cheap ways of storing their coins, so it would really rock the crypto world.
Well , we can never deny the technology's advancement . And this one is very possible in my honest opinion . Tho storing your assets on a smartphone , man that pose on couple of serious risks . Like what if you lose access to your smartphone . If that function somewhat like other hardware wallets then you are in a serious trouble . Tho there can always be a workaround on it . Only time will tell when we are going to reach that era of technology .
I think no one give you you something without getting any benefit. That's why they provide this facilities. If using hardware smart wallet we both get benefitted that really nice.
Building a hardware wallet inside a smartphone is definitely possible.
It basically just requires two things:
With these, you can fully implement a hardware wallet inside a mobile.
You can use the mobiles OS / application to communicate with the hardware wallet and use the second screen/buttons to verify payments.
You would be fully secured against a compromised phone (thanks to the second screen and verification buttons) and you could also be secured against theft of the phone (through password protection with wiping after X wrong attempts).
It basically just requires two things:
- An integraded RNG + Secure element
- A second display + buttons for verification
With these, you can fully implement a hardware wallet inside a mobile.
You can use the mobiles OS / application to communicate with the hardware wallet and use the second screen/buttons to verify payments.
You would be fully secured against a compromised phone (thanks to the second screen and verification buttons) and you could also be secured against theft of the phone (through password protection with wiping after X wrong attempts).
I'm thinking along the same line. Perhaps the technology of dual booting available to PCs can be embedded into smartphones for the sole purpose of having the wallet secured from attacks and whatnot. While it's not feasible for most phone manufacturers, this will be a head-turner and a possible innovation for future smartphones that can act as a general communicating tool/device and another, distinct purpose aside from the conventional use of it.
The only attack vector i can think of at the moment is if your mobile is compromised AND it gets stolen afterwards.
In this case the attacker can gain access to your password + physical access, which is enough to steal funds.
I'd definitely love such a hardware wallet integrated into a smartphone (even though it still should not be used for large amounts -> 5$ wrench 'attack').
But it would secure people against simple malware (which definitely will become more 'standard' if the amount of BTC mobile payments does increase).
In this case the attacker can gain access to your password + physical access, which is enough to steal funds.
I'd definitely love such a hardware wallet integrated into a smartphone (even though it still should not be used for large amounts -> 5$ wrench 'attack').
But it would secure people against simple malware (which definitely will become more 'standard' if the amount of BTC mobile payments does increase).
Having the phone stolen or lost will be negligence on the end-user's part, so that I think will be inevitable and uncontrollable, but I'm pretty sure no one in their sane minds would want to have their phones stolen so they would definitely keep it safe. As for the last passage/statement, I'd say this should be optional, with a biometric authentication needed in order to spend more than a designated 'default' limit by the wallet. It is possible in today's day and age. If they were able to create useless apps, I'm pretty sure they can create something important for people and enthusiasts too.
if all smartphones have supported crypto completely then crypto became popular in wider society, smartphone is the most telling media to advertise
For sure they are already having some feasibility studies of hardware digital wallet that can store bitcoins. And this business is so big, It will make the smartphone manufacturer's get more money.
Building a hardware wallet inside a smartphone is definitely possible.
It basically just requires two things:
With these, you can fully implement a hardware wallet inside a mobile.
You can use the mobiles OS / application to communicate with the hardware wallet and use the second screen/buttons to verify payments.
You would be fully secured against a compromised phone (thanks to the second screen and verification buttons) and you could also be secured against theft of the phone (through password protection with wiping after X wrong attempts).
The only attack vector i can think of at the moment is if your mobile is compromised AND it gets stolen afterwards.
In this case the attacker can gain access to your password + physical access, which is enough to steal funds.
I'd definitely love such a hardware wallet integrated into a smartphone (even though it still should not be used for large amounts -> 5$ wrench 'attack').
But it would secure people against simple malware (which definitely will become more 'standard' if the amount of BTC mobile payments does increase).
It basically just requires two things:
- An integraded RNG + Secure element
- A second display + buttons for verification
With these, you can fully implement a hardware wallet inside a mobile.
You can use the mobiles OS / application to communicate with the hardware wallet and use the second screen/buttons to verify payments.
You would be fully secured against a compromised phone (thanks to the second screen and verification buttons) and you could also be secured against theft of the phone (through password protection with wiping after X wrong attempts).
The only attack vector i can think of at the moment is if your mobile is compromised AND it gets stolen afterwards.
In this case the attacker can gain access to your password + physical access, which is enough to steal funds.
I'd definitely love such a hardware wallet integrated into a smartphone (even though it still should not be used for large amounts -> 5$ wrench 'attack').
But it would secure people against simple malware (which definitely will become more 'standard' if the amount of BTC mobile payments does increase).
Yes, the hardware digital wallet is quite a desire and would be a really promising if credibility and security is transparent. Users thrive for cheap ways of storing their coins, so it would see good demands once available.
Cellphone get stolen often, but You can keep your hardware wallet safe - I will prefer a regular Hardware wallet to keep my coins than a smart-phone that has a built in hardware wallet.
A wallet on a smartphone in my opinion is always a software wallet and not hardware. Security on smartphones is always lower than a real wallet hardware.
Smartphones are now full-fledged wallets. But I'm afraid to trust them with my money.
Smartphones are not protected and they are easy to crack and you will never see your money.
Smartphones are not protected and they are easy to crack and you will never see your money.
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