Why is hardware wallet more secure than mobile app wallet?

mk4

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Quote from: Mrwinson93 on November 11, 2017, 04:04:20 AM

Quote from: HabBear on November 11, 2017, 12:42:56 AM

Quote from: mk4 on November 10, 2017, 11:33:53 PM

Take note though, NOTHING is 100% secure. But a hardware wallet is definitely significantly more secure.

This is the best advice you're going to get.

Another reason why hardware wallets are secure is because the bitcoin is secured "on the hardware". Technically it's on the blockchain, but the access is through the hardware. Without the hardware you can't access the blockchain to get your bitcoin.

I get your point. So it all goes down to your seed. As long as no one knows your seed, you are safe no matter if you use mobile or hardware wallet.

Definitely. As long as your seed is safe then you're fine. But then again, mobile phones are significantly more vulnerable compared to hardware wallets in terms of your recovery seed getting stolen.

olehgol260

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Quote from: Mrwinson93 on November 11, 2017, 12:23:06 AM

Quote from: mk4 on November 10, 2017, 11:33:53 PM

The safety of hardware wallets like Trezor, KeepKey, and Ledger Nano S is that the private keys are never exposed and never actually leaves the device. A sort of malware or a virus can get in to your phone and possibly access your private keys, whereas it can't(or it will be very difficult for them) with a hardware wallet.

Take note though, NOTHING is 100% secure. But a hardware wallet is definitely significantly more secure.

If you're planning on purchasing one, I suggest looking them up on YouTube so you also have an idea on how they look.

https://trezor.io
https://www.ledgerwallet.com
https://www.keepkey.com

If i were to buy a phone with a mobile wallet app just for storing bitcoin and keep that phone in my home and never connect to internet. Is it as safe as hardware wallet?

I suppose hardware wallets provide an extra layer of security. Moreover, hardware wallets are cheaper than mobile phones nowadays.
At the same time putting everything only to the hardware wallet make it the only point of failure, e.g. if something happen to your hardware wallet, you will never get your coins back

Mrwinson93

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Quote from: HabBear on November 11, 2017, 12:42:56 AM

Quote from: mk4 on November 10, 2017, 11:33:53 PM

Take note though, NOTHING is 100% secure. But a hardware wallet is definitely significantly more secure.

This is the best advice you're going to get.

Another reason why hardware wallets are secure is because the bitcoin is secured "on the hardware". Technically it's on the blockchain, but the access is through the hardware. Without the hardware you can't access the blockchain to get your bitcoin.

I get your point. So it all goes down to your seed. As long as no one knows your seed, you are safe no matter if you use mobile or hardware wallet.

HabBear

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Quote from: mk4 on November 10, 2017, 11:33:53 PM

Take note though, NOTHING is 100% secure. But a hardware wallet is definitely significantly more secure.

This is the best advice you're going to get.

Another reason why hardware wallets are secure is because the bitcoin is secured "on the hardware". Technically it's on the blockchain, but the access is through the hardware. Without the hardware you can't access the blockchain to get your bitcoin.

Mrwinson93

jr. member

Activity: 38

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Quote from: mk4 on November 10, 2017, 11:33:53 PM

The safety of hardware wallets like Trezor, KeepKey, and Ledger Nano S is that the private keys are never exposed and never actually leaves the device. A sort of malware or a virus can get in to your phone and possibly access your private keys, whereas it can't(or it will be very difficult for them) with a hardware wallet.

Take note though, NOTHING is 100% secure. But a hardware wallet is definitely significantly more secure.

If you're planning on purchasing one, I suggest looking them up on YouTube so you also have an idea on how they look.

https://trezor.io
https://www.ledgerwallet.com
https://www.keepkey.com

If i were to buy a phone with a mobile wallet app just for storing bitcoin and keep that phone in my home and never connect to internet. Is it as safe as hardware wallet?

mk4

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Activity: 2786

Merit: 3845

Paldo.io 🤖

The safety of hardware wallets like Trezor, KeepKey, and Ledger Nano S is that the private keys are never exposed and never actually leaves the device. A sort of malware or a virus can get in to your phone and possibly access your private keys, whereas it can't(or it will be very difficult for them) with a hardware wallet.

Take note though, NOTHING is 100% secure. But a hardware wallet is definitely significantly more secure.

If you're planning on purchasing one, I suggest looking them up on YouTube so you also have an idea on how they look.

https://trezor.io
https://www.ledgerwallet.com
https://www.keepkey.com

Mrwinson93

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I don't understand why is hardware wallet more secure than mobile app wallet? Both require me to write the seed down somewhere on paper and keep it. If I were to lose my hardware wallet, I can always buy a new one and generate it through my seed, same goes for mobile. I might lose my phone and buy a new phone and generate that seed again.

But what if I never lose my phone or I set up an app lock on my mobile app, does this mean mobile wallet is as secure as hardware wallet if a stranger steals my phone and has no way to spend my bitcoin?

Or is there some kind of brute force that can guess seed easily for mobile wallet app than the seed for hardware wallet?

Topic: Why is hardware wallet more secure than mobile app wallet? (Read 232 times)