When you disclosed the crypto assets you have on your phone to someone or a group of people, that's when they will think of hacking into your phone or doing the otherwise to collect your phone from you. If you haven't disclosed your crypto assets to anyone and you don't click on unknown links or try to connect your wallet with an unknown wallet address, there is no way hackers will try to hack into your phone cos they don't want to waste their time and resources on what they don't know the exact amount of crypto assets you have in your phone.
Topic: Why still keep the money on phone? (Read 292 times)
If to be honest I still don't have a hard wallet till date because apart from the problem for my area still not sure about bitcoin I am also quite hesitant to buy it on local ecommerce and if buying from overseas it definitely costs more to charge send it so that when I see something like that, I don't want to use a wallet that can be accessed on a smartphone or PC.
On the other hand, even though this is a bit vulnerable, of course we also have to be aware of the condition in which the key is stored, so if we are careful, even though there is a possibility that it could be hacked, I think with our vigilance it can still be minimized and I use a wallet here. smartphone for 2 years I have been in crypto in fact I still avoid unwanted things as long as we are always alert I think everything will be fine.
On the other hand, even though this is a bit vulnerable, of course we also have to be aware of the condition in which the key is stored, so if we are careful, even though there is a possibility that it could be hacked, I think with our vigilance it can still be minimized and I use a wallet here. smartphone for 2 years I have been in crypto in fact I still avoid unwanted things as long as we are always alert I think everything will be fine.
Phone wallets are not the worst thing if they are encrypted and used for small amounts. What I still don’t like US that developers tell People their mobile wallet is safe. But who would say his wallet is not safe.
A phone wallet shouldn't be used as your main wallet because it's pretty easy to have your phone stolen or simply lose it.
I bet that having your phone hacked through android vulnerability is going to be 100 times less common than having it stolen.
That said, I wouldn't be worried about having $100 on my phone for unexpected expenses. I usually have a phone bank app there anyway, so wherever I go I have some cash in my wallet, a fiat app on my phone and a crypto wallet. For holding I have my safely stored private keys.
I bet that having your phone hacked through android vulnerability is going to be 100 times less common than having it stolen.
That said, I wouldn't be worried about having $100 on my phone for unexpected expenses. I usually have a phone bank app there anyway, so wherever I go I have some cash in my wallet, a fiat app on my phone and a crypto wallet. For holding I have my safely stored private keys.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
You make it seem like the people really wanted to give their bitcoin or coins to the hacker, it's not like that they handed it freely.
Actually, that's the thing. People are already accustomed to hold some of their coins on some applications/wallets and there's a reason for that. Some are spending and using it on a weekly/daily basis and it's not that they are really hodling it by using a prone-to-hack storage. By now, people already know what to do about their coins and only hold big chunks of coins in a cold storage where it is really safe.
I think it is more on convenience purposes why some people are still holding coins via their smartphones.
I can understand such practice if you have like regular need of coins but for long-term holding,
not advisable to store it in your wallet within your phone. You are subjecting yourself to potential hacks.
People will only learn their lessons if they are screwed by these fraudsters. Until then, they will do what they want to do.
Some lessons are expensive, we can read it again and again, and yet many are still neglecting simple pieces of advice.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
Like everything else, the world of smartphones and especially that of Android must be used in the right way. Obviously, if you can barely use a social network like instagram, Bitcoin will probably never be the right technology for you and therefore it would be right for that kind of person to only use totally custodial wallets. But if you can use your smartphone with ease and you are very attentive to your privacy then you should know that Android like Ios are not the right accessories and you should begin to appreciate Graphene OS for example.if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
Hackers usually target huge amounts of bitcoins
Actually no. Oceans are made of droplets. It's easier to make a malicious Android wallet, for example, or send phishing mails, or make a clipboard malware and steal whatever you find than target the rich.
Or you think the hacker will say "oh, I've hacked this one, but it's only 10$, I'll leave it"?
Windows is also very unsafe and people keep their bitcoin there too. Sometimes even on pirated Windows and/or pirated antivirus.
On the other hand... there are wallets on Android that work with hardware wallets. I think that it's one valid option.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
You make it seem like the people really wanted to give their bitcoin or coins to the hacker, it's not like that they handed it freely.
Actually, that's the thing. People are already accustomed to hold some of their coins on some applications/wallets and there's a reason for that. Some are spending and using it on a weekly/daily basis and it's not that they are really hodling it by using a prone-to-hack storage. By now, people already know what to do about their coins and only hold big chunks of coins in a cold storage where it is really safe.
There are several reasons why people may choose to keep money on their phone. One reason is convenience. With a mobile payment app or digital wallet, people can easily make payments and transfer money using their phone, which can be more convenient than carrying cash or using a physical debit or credit card.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
The answer is quite plain and simple: it is because of convenience.
You pretty much answered the question by yourself- android is indeed one of the biggest operating system in the world as it is used by majority of the population. Bearing this in mind, lots of applications try to create wallets that are compatible with their mobile devices taking advantage of the users who use android.
I am actually guilty of this since my BTCs are still stored inside a local exchange application on my wallet. Though I am looking forward in purchasing a hardware wallet to increase maximum safety of my coins.
Whether or not you should keep your bitcoins on a phone is ultimately up to you and depends on your individual circumstances. There are some advantages to storing bitcoins on a phone, such as easy access and the ability to make transactions quickly and easily. However, there are also some risks associated with storing bitcoins on a phone, such as the potential for theft or loss.
Before deciding whether or not to store your bitcoins on a phone, it is important to carefully consider the potential risks and rewards, as well as your own personal preferences and needs.
Before deciding whether or not to store your bitcoins on a phone, it is important to carefully consider the potential risks and rewards, as well as your own personal preferences and needs.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
I think Keeping your wallet in an Android phone is risky but it is not that every wallet in Android phone can be hacked by intruders. Most of the time, it is our fault as we do not make the necessary precautions and let hackers hack our phones. People open links from unknown sources, download offline apps from unknown sources, and later complain that their devices got compromised.
Little things can prevent hackers take your money like securing the apps with passwords and locking the phone with strong passwords etc.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
This may have to do with these 3 facts. if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
1. They are newbies and just starting to learn the facts about cryptocurrency.
2. Lack of knowledge regarding hacking and scammers.
3. They can not afford to buy cold wallet.
Either these 3 thing have to be the case. Otherwise, if you know that your assets are at risk, you will never store those assets in your smartphone wallet.
Many who have been in this crypto world, still store their assets in software wallet. Maybe they haven't been attacked by hackers or lost any assets in the past, so they never think about the vulnerability.
If they once get attacked my hackers, then they will consider switching to cold wallet.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
Saving a little Bitcoin on your cellphone to make it easier to transact while travelling, whether it's safe or not depends on us using the smartphone we have, don't click random links without reading because there's a chance for hackers to steal your data on your cellphone. In my opinion, there is a lot of security software to increase security on your cellphone, the quality of which is very difficult for hackers to penetrate, but all of that will be in vain if you are not good at maintaining security. Clicking any link without reading further will destroy all the data you have on your smartphone. if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
At one time, I was interested in the question - which bitcoin wallets do bitcoin developers recommend?
After all, these people are better than others in all aspects of the possible vulnerability of various bitcoin wallets....
To my surprise, I read information that wallets installed on a smartphone are generally more secure than bitcoin wallets installed on a laptop or computer.
This is due to the peculiarities of the basic technical structure of smartphones. It provides a dedicated isolated space for each installed application.
In this regard, it is more difficult for hackers to hack Bitcoin - a wallet on a smartphone, compared to a wallet installed on a laptop or computer.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
It's because it is handy.if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
Those that keeps their bitcoin in phone wallet apps, they just want to secure it that they can check it anytime. They for sure have the recovery phrases for that wallet so even if it gets stolen, they can still recover and retrieve it.
As for being hacked, it depends to the activities of the user. If that person is someone who keeps on searching for unusual things on the internet and download unusual apps, he's the likely that will be hacked than someone who just keep it there without doing anything.
For small day-to-day expenses. There are places where you can pay with Bitcoin, or you can exchange Bitcoin for cash in Bitcoin ATMs and certain stores. So, to make these operations you are not going to carry a laptop and your HW all the time. Carrying 0.01 BTC on your mobile is not crazy. I have been carrying small amounts for a long time and nothing has ever happened to me.
haha this what about i am going to say
put your big bag amount of coin to hardware wallet for long term holder, but of course if you bitcoin maximalist or crypto maximalist you do need couple of bitcoin or other crypto for daily transaction or exploring defi you do need phone or extension based wallet but for only for small amount. and using open source base wallet would be better.
and last like the @Poker Player till now I'm using metamask and trust wallet in a phone to use everyday
if you guys keep your private key safe and not touch phising countract in other chain you should be fine 
Think different, just buy an iPhone...
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?
if vulnerable why people still keep his bitcoin on wallet phone?
The only legitimate reason I see here is the portability of mobile phones.
If it's only a few Satoshi, there's no need to worry about funds being stolen, but if it's a large amount of Bitcoin, a hard wallet should be considered.
As I previously stated, it is much easier to move around with your mobile phone wallet than it is with a desktop wallet, and you can also carry out transactions at any time without encountering any issue. That is the primary reason. However, some people may be using mobile wallets because they do not have enough fund to purchase a hard wallet.
Android is one the biggest operating system used by people in the world. Many hacker and cheater try a million way to hack that OS from user to steal his money, many hacker have succeeded and many user lost his money in the wallet.
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
if vulnerable why people still keep his bitcoin on wallet phone?, are they rich? Why they give his bitcoin to the hacker?
Using an Android phone is not the problem here, the type of wallet been used is the main focal point we are concerned about, if you should use a hardware wallet or any open source cold storage and unable to maintain security sanity with caution in handling them then you're still vulnerable to attack, if you are using mobile phone wallet which are centralized like hot wallet, you can also experience difficulty I'm handling your asset one day because they can restrict your access to your asset, regulate you, authorize you and leak your information to any third party and finally they can get hacked and went bankrupt, so with bitcoin it's your decision to how and where you want to have your asset stored, but the best idea is for you to have access to them at anytime under your control.
Jump to: