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Author Topic: Hardware wallet 2.0 - Making them for the smartphones as a mobile case.  (Read 60 times)
rohanagarwal94
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June 16, 2018, 02:20:20 PM
 #1

The current hardware wallets are good for transactions at rest, but their form factor is not good for making transactions on the go. Stumbled upon, Cypherock which is making a hardware wallet attachable to a case to mitigate mobile software risks also. Check them out, and let me know your thoughts.

https://cypherock.com
design video - https://www.youtube.com/watch?v=zNZikfvheT4
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bitmover
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June 16, 2018, 02:25:18 PM
 #2

Ledger nano S can already be used on mobiles smartphones ,as they have an app for that.

rohanagarwal94
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June 16, 2018, 02:30:32 PM
 #3

Ledger nano S can already be used on mobiles smartphones ,as they have an app for that.

Agreed. But can you carry them everywhere, and use it on the go?
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June 16, 2018, 02:47:25 PM
 #4

Ledger nano S can already be used on mobiles smartphones ,as they have an app for that.

Agreed. But can you carry them everywhere, and use it on the go?

Yes. You need Mycellium or Copay app. You need some also some adapter which costs like $5 to connect the ledger and the mobile.
https://support.ledgerwallet.com/hc/en-us/articles/115005199449-Ledger-Bitcoin-Wallet-on-Android

rohanagarwal94
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June 16, 2018, 03:02:45 PM
 #5

Ledger nano S can already be used on mobiles smartphones ,as they have an app for that.

Agreed. But can you carry them everywhere, and use it on the go?

Yes. You need Mycellium or Copay app. You need some also some adapter which costs like $5 to connect the ledger and the mobile.
https://support.ledgerwallet.com/hc/en-us/articles/115005199449-Ledger-Bitcoin-Wallet-on-Android

My point is do you prefer to carry you pendrive with an OTG cable wherever you go or do you store the files on the smarthpone itself?
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June 16, 2018, 07:28:56 PM
Merited by RGBKey (1)
 #6

Am I just missing the point here? I use hardware wallets for long-term storage of large amounts of crypto - the last thing I want is to be carrying them around with me and expose them to the risk of theft or loss. For transactions on the go, I can just store a small amount of crypto in a mobile wallet.


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jackg
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June 16, 2018, 08:18:22 PM
 #7

Am I just missing the point here? I use hardware wallets for long-term storage of large amounts of crypto - the last thing I want is to be carrying them around with me and expose them to the risk of theft or loss. For transactions on the go, I can just store a small amount of crypto in a mobile wallet.

This is what I thought. You're only supposed to carry small amounts with you on your phone at any point otherwise it's too accessible for potential thieves.

A small day-to-day amount of bitcoin is probably best to keep on your phone and store the majority of your bitcoin on your computer/hardware device. If you're needed for a hefty business transaction, you can carry your laptop around with you and the pendrive sized hardware device (it's not that difficult).

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June 17, 2018, 03:54:45 AM
 #8

Am I just missing the point here? I use hardware wallets for long-term storage of large amounts of crypto - the last thing I want is to be carrying them around with me and expose them to the risk of theft or loss. For transactions on the go, I can just store a small amount of crypto in a mobile wallet.

Agreed. This totally destroys the purpose of hardware wallets, increased security. Carrying it around on your person all the time would be a horrible idea. Anybody seen with one (and you would be seen because it'd be on your phone) would be a prime target for robbery. The fact of the matter is if you're being held at gunpoint, it doesn't matter how secure the wallet you're holding is.

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June 17, 2018, 05:00:21 AM
Merited by RGBKey (1)
 #9

Anybody seen with one (and you would be seen because it'd be on your phone) would be a prime target for robbery. The fact of the matter is if you're being held at gunpoint, it doesn't matter how secure the wallet you're holding is.

Relevant XKCD (Do I even need to link it? I'm sure you all know what it is before even clicking on it.)

Absolutely agree with RGBKey here. The implication of a hardware wallet is that you have a significant amount of crypto that you would be uncomfortable storing in a software wallet. Therefore, using this in public is just advertising yourself to thieves.


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June 17, 2018, 11:10:34 AM
 #10


Absolutely agree with RGBKey here. The implication of a hardware wallet is that you have a significant amount of crypto that you would be uncomfortable storing in a software wallet. Therefore, using this in public is just advertising yourself to thieves.

It is true that hardware wallets should be used for protect private keys in the first place, and it would probably be wise not to carry them with you to public places. But I doubt a lot of people knows that there is a thing such as hardware wallet, although when it comes to cryptocurrency precautions should always be at the highest level.

If people still wants to use hardware wallet in public places maybe good solution would be to have two of them, one just for using at home as primary wallet, and other with some small amounts of coins for using outside safe environment.

Regarding Cypherock, I like the idea and it is looks very nice at first glance. I will keep an eye on this product, I'm interested in what the price will be and whether they will extend support for more phones then only for Iphone and Samsung Galaxy 9.

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