Storing money on Smartphone is far more secure than desktop or laptop

[notaek]

Storing bitcoins onto a paper wallet or on a physical (DIY) crypto-coin (~ for the purpose of hoarding them) and keeping it at the most secret corner of your house is in fact the most safest way in my opinion.

But for the sake of daily transactions, storing bitcoins on smartphones would be the safest and easiest way. You can directly send required amount of coins by scanning the recipient's QR code only. Nowadays one can store Bitcoins and other altcoins only at a single wallet (thanks to Coinomi's multi-wallet app).

Although there's a risk of getting your phone stolen, but that would be your carelessness! That's why I always carry 2 phones and mostly use the $20 phone at public places (~ where there's more congestion and a chance of getting pick-pocketed) only for some important conversations and the $600 one remains inside the secret chamber of my bag.

As per as apps are concerned, I don't feel the need to root/jailbreak my phone in order to download malicious apps. I'm pretty much contented with the apps I get from play store/apple store. (I have a spare rooted phone only for doing all sorts of experiments though )

Again one might think about getting his phone robbed by some felon, first of all I would suggest them not to make any stranger feel like you are the richest guy in town! And not to meander around quite places for a long time, especially when you are alone.

[Bitcoinpro]

Its got to be worth a bit just knowing people are hacking ur phone anyway

[richardsNY]

Its got to be worth a bit just knowing people are hacking ur phone anyway

If you mean that you leave some bits in an open wallet to know if your pc or phone got hacked, then I understand it right. I also do the exact same thing. I have around 0.12 BTC in an open wallet to see if everything is still fine.

[Struble]

Both laptops/desktops and phones have their risks.

It depends on which one you're most comfertable with carrying around. I believe anything without internet is the safest way to store money on.

I'd only connect it to the internet if I either need to take some money out or put some money on it.

[Amph]

Its got to be worth a bit just knowing people are hacking ur phone anyway

If you mean that you leave some bits in an open wallet to know if your pc or phone got hacked, then I understand it right. I also do the exact same thing. I have around 0.12 BTC in an open wallet to see if everything is still fine.

no he is saying that smarthphone are not immune from virus and stuff like that like dsktop, they are also more hard to intercept, and antivirus ar enot as strong as desktop version

personally i would store bitcoin in my phone on small quantity, just for spending purpose

[Miiike]

Being on you smartphone is more hazardous because of the use of unsecured wifi connections when you are out and about.

you can still use a vpn service to make it secure or you can make your own proxy server just to make sure
the main thing that make android is unsecure when your friend just opened your phone and suddenly uninstall your wallet lol, it'll give pain in my ass

It will still be OK if the wallet we use has online storage, we'll just need to reinstall it and they'll instantly recover our data, isn't it?

[Nobitcoin]

Would be a good idea to use an old smartphone for cold storage but to carry all your coinage with you would be foolish. I have lost many a phone especially when drunk leaving them in pubs dropping them on trains or falling into the toilet.

[yyxl]

iOS is more secure than Android btw. If you want Android with better security get the new Blackberry Priv running Android thats been out recently.

Breadwallet ceo:

RVC: I've read that mobile wallets should only be used for pocket change. How much money can I safely keep on my phone at one time?

It's ironic, because many people don't realize that their smartphones are actually the most secure computing device they own, far more secure than desktop or laptop systems. It's wallets that can be accessed from the web or desktop that should really only be used for pocket change.

An iPhone uses the same techniques of app sandboxing and enforced code signatures that dedicated hardware wallets use. The phone is also hardware encrypted so your funds are strongly protected even if it's physically stolen. The US DOJ even complains publicly that the phones are too secure. Some people prefer to keep large amounts in paper wallets, but for someone who doesn't have a strong technical knowledge of bitcoin, misunderstanding how change addresses work can result in total loss, so they're not really suitable for the general public. There was recently a $1M dollar bounty offered for a remote jailbreak of iOS, and the winner ended up having to use an exploit in the chrome app, so if we assume markets are efficient, then in theory it should be safe to keep at least $1M in breadwallet (if you don't use chrome).

太棒了

[rivoke]

But there are some risk, for example ; easy to get stolen or get broke if we are not take care of it
For me, I''m better put my password to my both device ( laptop & smartphone ) so I can having some backup if something bad happen

[yenxz]

So,what you think more secure?android or ios?

[Carlton Banks]

I don't know about more secure, but it is sure more convenient since we almost constantly hold our phone which means we could check our wallet at will. But I must agree with Sir Carlton Banks, the use of VPN would helps. Though I rarely use VPN when accessing wallet from either laptop or phone, but i've read some tips on facebook group for bitcoin that the use of VPN would helps secure our transaction.

IMO definitely use a 3rd party VPN app, and I also use AF+ to setup firewall rules that stop apps from using anything except the VPN. It's kind of annoying on Android now, you would have been able to just set some easy-ish iptables rules up before KitKat, but now the tables that are setup by default make it a real job to use iptables yourself.

[quentincole32]

The thing is that phones can be lost, robbed, broken more frequently than a Desktop. It is more a safety thing than a security thing I think.

agree with delek, i have experience lost my phone and contains my bitcoin.
I immediately opened my email to get in to my wallet and move private key and all the coins.
fortunately all my coins saved. no more storing bitcoin in mobile phone i feel desktop more safer.

[ad2040]

Altough before i was nt knowing about these thing then also i use android wallet apps to store my btc.

[amacar2]

Storing money on smartphone can't be a good decision as mobile can be easily lost or got stolen. But to use and pay even with bitcoin is much more easier scanning QR codes than from laptops.

[Mickeyb]

Both of these ways of storage have their drawbacks and their strong points. Yes Android and IOS applications are sandboxed and this makes them safer. Also there are no so many viruses developed for these platforms.

I would still never store huge amounts of bitcoins on the phone. Just the point that I can lose it makes me very uneasy!

[NorrisK]

Storing money on smartphone can't be a good decision as mobile can be easily lost or got stolen. But to use and pay even with bitcoin is much more easier scanning QR codes than from laptops.

Definately make a back-up of your wallet and put a code for login. That way your stuff is always protected.

You also don't want your 2fa codes on the street right? Use a code to get in the phone.

[richardsNY]

Its got to be worth a bit just knowing people are hacking ur phone anyway

If you mean that you leave some bits in an open wallet to know if your pc or phone got hacked, then I understand it right. I also do the exact same thing. I have around 0.12 BTC in an open wallet to see if everything is still fine.

no he is saying that smarthphone are not immune from virus and stuff like that like dsktop, they are also more hard to intercept, and antivirus ar enot as strong as desktop version

personally i would store bitcoin in my phone on small quantity, just for spending purpose

Ok, then I was wrong in that. Well, I also store a small amount in my blockchain.info mobile wallet, but never more than what I would have in my physical wallet. In my case that is around $50 or so.

[Carlton Banks]

Give a fool the most secure system and he will break it, lose it or whatever. Give a smart man any option, even the less optimal and he will do good by making right choices. Simple as that!

It's true. I use Android, and I feel like I've done my best to make it secure (up-to-date Cyanogenmod, no GApps/Play Store, Fennec Firefox only, VPN,  AF+ firewall etc), but I still feel like a smart guy using the crappy option   Still not picked up any malware (or lost coins) on my various phones.

I am waiting impatiently for a decent modular phone platform (Ara/Puzzlephone/Fairphone 2) with an OS that's actually designed to be secure (as opposed to one that might as well have been designed to be insecure)

Seems like this might be up your alley, I would look into it if I were you: https://www.silentcircle.com/products-and-solutions/devices/silent-os/

I heard about the Blackphone/Silent CIrcle when the first model came out, and I think they're still including Play Store/Play Services, which I can't justify when you can replace them both (and both are closed source, with alot of capabilities to use and assign app permissions, as well as vacuuming up loads of user data). It would be interesting to see if you could get a version of that OS without the Play stuff bundled with it, possibly source of SilentOS is available and it could be built from source.

Apart from that, Silent Circle is another good example of the field diversifying a bit more, and you've gotta hand the credit for that to Google really, as much as I don't like them. Hopefully this strength in depth will eventually make open platforms on mobile the best choice.

[EternalWingsofGod]

Phones are less secure given that most users will jailbreak it
One malicious app, or simply losing the phone can cause bigger issues it is also why services such as Blockchain.info and other wallets recommend not storing large amounts on phones simply because their is risk there.

[Small]

Being on you smartphone is more hazardous because of the use of unsecured wifi connections when you are out and about.

you can still use a vpn service to make it secure or you can make your own proxy server just to make sure
the main thing that make android is unsecure when your friend just opened your phone and suddenly uninstall your wallet lol, it'll give pain in my ass

For browsing unsecured websites, without ssl, you would need one. If not, Bitcoin transactions are fine, private keys aren't sent over wifi.

I'm pretty sure most wallets have HD features already, you only need to backup your seeds and you don't need to worry. I'm pretty sure you don't give out your phone randomly to your friends or them uninstalling anything.