5 Reasons Why I Prefer a Bitcoin Mobile Wallet

[pakhitheboss]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place. My personal favourite is Mycelium wallet.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

One of the Members compared my 5 reasons with his reason why a hardware wallet is better? and I replied to that member adding 5 more reasons.

Questions

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

Answers

2. The chance of losing a mobile phone is very less as they are no more a palm device like hardware wallets. Another best thing about mobile devices now days is that they can be tracked and as well as disabled remotely.
3. Why would you want to make your life complicated using both devices? Choose one which has multiple usages like a mobile device.
4. They get auto-updates periodically which you do not need to monitor. You have to manually update and monitor updates.
5. Both android and iOS have firewalls they cannot get hack automatically unless the user downloads a malware. But, hardware wallets can be easily detected by that same malware when you are trying to update it.

[1715061384]

1715061384

[BD Crypto]

Actually there are a lot of advantages for Bitcoin mobile wallet.Like it's not so costly and it can be a secured place and we can easily transfer them any time.So just focus advantages.Then you will find many reasons to use or prefer a bitcoin mobile wallet.

[chaser15]

There is actually no need to create a thread just to say you don't want to buy them. Of course, not everyone can afford to buy it.

About maintaining those hardware wallets, may I know your opinion about what are those things that makes it difficult to maintain?

2. They are a liability as if you lose them you have lost your investment.
3. They are not easy to operate.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

Using a hardware wallet is a choice. If you don't want to use it then so be it. We are free to choose what we want.

[bitmover]

1. They are costly if you are paid Bitcoin as a bounty hunter or for a gig you cannot afford it.

False. They are not costly. Those devices are being sold for less than 50usd, and you can get promotions like 50% off everytime (like 30usd)

If you can't get at least 30 usd as a bounty hunter you are certainly doing something wrong and should change your profession.

2. They are a liability as if you lose them you have lost your investment.

False again. You can back up your security phrase and recover your funds even in a mobile wallet, electrum or any other wallet.

3. They are not easy to operate.

THey are super easy to operate, just like any other wallet, but more reliable.

4. They have to be updated periodically or you will never see your Bitcoin in them.

You can track your bitcoins in any block explorer or in your native wallet software without even connecting your device.

5. They can still be hacked if you are using them online for trading or other stuff.

No, they can't. Even if you plug them in an infected computer your bitcoins are still safe and unhackeable.

[DdmrDdmr]

1. They are costly if you are paid Bitcoin as a bounty hunter or for a gig you cannot afford it.

That may well be, depending on your country of origin, but if you can afford it, it should be a non-brainer. I bought my first one before I has a single Satoshi, preferring safety over saving some bucks (again, it depends on your country/income).

2. They are a liability as if you lose them you have lost your investment.

Same goes for a mobile wallet, which is exposed to many more potential hazards. With a hardware wallet, your basic backup is your 24 word mnemonic, and that should be your (well hidden/encripted) safety net.

3. They are not easy to operate.

I find it dead easy. For example Ledger can link to it’s proprietary Ledger Live GUI, or Electrum in a seamless manner.

4. They have to be updated periodically or you will never see your Bitcoin in them.

Your 24 word mnemonic will get you out of any possible issues related to obsolete firmware. Nevertheless, I’ve seen cases of people stuck on old non-updatable firmware versions, so I do make sure I update them at least once a year. Not that much of a hassle.

5. They can still be hacked if you are using them online for trading or other stuff.

The only cases I’ve seen concerning hacked hardware wallets are related to stunts pulled off in laboratory conditions with the device in hand. That does not mean you should not be wary of the software middleware (such as Ledger Live or Electrum) when used in combination, but as such, Ledger has not really been hacked so far away from laboratory scenarios.

[Asuspawer09]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

Probably a lot of people would still store some bitcoin in a bitcoin mobile wallet because it is easy to navigate or manage your wallet, more reliable, and the portability.

The best advice is to get a hardware wallet and store bitcoin that you want to store for a long term investment, and at the same time, you could also store a small amount of bitcoin in the other wallet where you could easily withdraw or deposit bitcoin.

It doesn't mean the bitcoin mobile wallet or custodial wallet is not safe. Just don't store a lot of funds in it, or probably just use it if you need to withdraw and deposit.

[Charles-Tim]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

1. You can get Keepkey as low as $45, also ledger nano s at $60 or less. Just know that harsware wallets store private keys offline, with this and with safe browsing you can use it to store cryptocurrencies  safely.

2. You have been answered above about this. Your mobile wallets are liabilities too, if you lose your phone you lose your wallet. But remember there is option of seed phrase, and know that if you lose hardware wallet, you can use seed phrase to recover back your coin or if you want, you can by another hardware wallet and input the seed phrase to get all your coin back. You hardware wallet will be difficult to compromise if your use it knowledgeably.

3. Only novice will say hardware wallets are not easy to operate, if you have been using one, you will be so acquainted to it and become normal thing for you to operate. And that aside, the company like ledger nano are now linking hardware wallets to phones, like with the use of bluetooth you can operate ledger nano x on both android and iOS.

4. You have also been answered, some mobile wallet will not even work if the previous update has expired, mandating it for you to undate to the latest version.

5. Just know that hardware wallet private key is offline, they are also more resistant to malware unlike online wallets, aside in-built security breaches, they are very still safe if you use them knowledgeably.

Sorry to say this, you like mobile wallet because maybe you hold little amount of cryptocurrencies, if you are a whale or hold substantial amount, you will see yourself holding it on hardware wallet because you will even be afraid to store them on online wallets that are not as safe as hardware wallets.

If you still find hardware wallet hard or difficult to use, storing high amount of cryptocurrencies  on it is essential and that is the main reason people are getting hardware wallet, if you are the type that makes transactions often, it is still good to get a mobile wallet where little amount of your cryptocurrencies  will be stored.

[BrewMaster]

...

he is not entirely wrong. i'd argue that points 1 and 4/5 are correct.
i personally wouldn't pay a satoshi for something that can be made easily on my own, which is a cold storage. but i still recommend hardware wallet for regular users who don't want to spend time learning how to reach security.

as for security of hardware wallets, they too can be hacked. there are exploits that are found in these tools every now and then that can lead to losses one way or another. recently another critical but was found in all of them. so they do need to be updated regularly and the user must always keep an ear to the ground to find out about these bugs.

it is naive thinking that hardware wallets are 100% secure and immune to all kinds of attacks.

ps. that still doesn't justify using a mobile wallet instead of a hardware wallet or a cold storage though.

[bitmover]

he is not entirely wrong. i'd argue that points 1 and 4/5 are correct.
i personally wouldn't pay a satoshi for something that can be made easily on my own, which is a cold storage. but i still recommend hardware wallet for regular users who don't want to spend time learning how to reach security.

as for security of hardware wallets, they too can be hacked. there are exploits that are found in these tools every now and then that can lead to losses one way or another. recently another critical but was found in all of them. so they do need to be updated regularly and the user must always keep an ear to the ground to find out about these bugs.

it is naive thinking that hardware wallets are 100% secure and immune to all kinds of attacks.

ps. that still doesn't justify using a mobile wallet instead of a hardware wallet or a cold storage though.

A handmade hardware wallet may be easy for you, but I wouldn't trust a HW made by you lol  I have no idea how to build one .... And for those who don't know how to build one, buying one is a good option and the price is reasoneable (and I live in a 3rd world country).

I know they are not 100%, but those attacks are possible only in movies.

Like the evil maid hacker attack... You would have a maid that is a hacker, found your hardware wallet and explore it vulnerability. This is very crazy and extremely unlikely.

You can consider it 99.99999% or 100% safe for practical purposes.

[hatshepsut93]

1. They are costly if you are paid Bitcoin as a bounty hunter or for a gig you cannot afford it.

False. They are not costly. Those devices are being sold for less than 50usd, and you can get promotions like 50% off everytime (like 30usd)

If you can't get at least 30 usd as a bounty hunter you are certainly doing something wrong and should change your profession.

This is the only point that is somewhat defendable, so if we imagine a very broke bounty hunter who doesn't hold more than $50 in crypto at any given time, then investing in hardware wallet would really be too costly for them, especially if they have a smartphone. For beginners mobile wallets are better than desktop wallets, since mobile security is a little bit better than security of Windows. And advanced users can make their own cold storage with any old computer.

[stompix]

My Five REASON Why I do not want to buy them?
~

Good, since that was covered by others let's see how your arguments can be reverted for mobile phones

-You have to carry all the time with you, maximizing the risk of loss or theft
-You depend much on your smartphone build so if this breaks you need to have a back up your data
-Smartphones come with a limited option for future upgrades, at one point the android IoS version of your phone won't be able to receive updates for your apps
-Talking about updating, it's the same with smartphones, it has become a weekly task since Oreo
-Smartphones (especially android) are far less secure since at any point you can install a malicious app and bye bye coins!
-There is also the possibility of the app servers to get hacked and update it with a malicious payload
-An angry girlfriend will never throw a trezor at you, a smartphone is an obvious choice for her 

~
This is the only point that is somewhat defendable, so if we imagine a very broke bounty hunter who doesn't hold more than $50 in crypto at any given time, then investing in hardware wallet would really be too costly for them, especially if they have a smartphone. For beginners mobile wallets are better than desktop wallets, since mobile security is a little bit better than security of Windows. And advanced users can make their own cold storage with any old computer.

I think that $ come into play again here.
A somewhat medium laptop would blow the budget of any bounty hunter that thinks 50$ is expensive, and a laptop full of cracked apps and with a pirated windows is probably the worse thing you can use to store your coins, other than tattooing your private key on your forehead.

[StonerStanley]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

Mobile wallets are far easier to steal/hack. It requires a lot less effort and skill.

Nothing prevents you from using both, like you can use a bank account+banknotes.

[Lizzylove1]

I don't agree with OP even though I am yet to get a hardware wallet. I believe keeping the private keys save won't make you loose your fund if the hardware is misplaced. Hardware is far safer than hot wallet some of my friends have had their hot wallet hacked ad their sweat and blood gone.

[CaVO32]

1. They are costly if you are paid Bitcoin as a bounty hunter or for a gig you cannot afford it.

False. They are not costly. Those devices are being sold for less than 50usd, and you can get promotions like 50% off everytime (like 30usd)

If you can't get at least 30 usd as a bounty hunter you are certainly doing something wrong and should change your profession.

2. They are a liability as if you lose them you have lost your investment.

False again. You can back up your security phrase and recover your funds even in a mobile wallet, electrum or any other wallet.

3. They are not easy to operate.

THey are super easy to operate, just like any other wallet, but more reliable.

4. They have to be updated periodically or you will never see your Bitcoin in them.

You can track your bitcoins in any block explorer or in your native wallet software without even connecting your device.

5. They can still be hacked if you are using them online for trading or other stuff.

No, they can't. Even if you plug them in an infected computer your bitcoins are still safe and unhackeable.

The OP should re-assess himself again about hardware wallet vs mobile wallet. Don't agree as well for what he presented here. I am more of a person that is using the hardware wallet than mobile one. I think his outlook will change once he tried using hardware wallet and experienced losing funds from his mobile wallet for nothing. Anyway, he is open for comments from the users and maybe he will be enlightened by some of the posts here.

[Baofeng]

I'm looking at this list: Best budget smartphone 2020: the top cheap mobiles around. And it's not cheap though, price ranging from $100-$300. So that's still expensive as compare to the price of hardware wallets today. So the argument that they are expensive are not true at all. Besides, keeping your mobile wallet will always be "online", multiply the risk that you are exposed to cyber criminals and loss your crypto in an instant specially if you're not careful and don't have this safety practice.

[finaleshot2016]

1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig. Actually, there's a sale recently and I guess you can afford it if you want a secured wallet. I also don't recommend bitcoin mobile wallet, there are many wallets that's already been hijacked and none of us is an exemption on that.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.

Actually, there's a sale recently and I guess you can afford it if you want a secured wallet. I also don't recommend bitcoin mobile wallet, there are many wallets that's already been hijacked and none of us is an exemption on that. Same with Mobile wallet, you lose your account due to hacking, you will lose your investment. It also defends against some malware or ransomware and also provides a separate system password for another protection to your wallet. Our smartphones are always exposed to the internet, 24/7 it has a connection and having spyware is possible as long as your downloading non-secured apps on your phone.

[Dart18]

Mobile wallet centralized companies?

If they close down you won't recover anything. Unless you pay for a lawyer to sue them and give back your funds.
With hardware wallet, even if its not updated it will still be there.
It is safe as long as you have the seed or the private keys.
That's the difference.

[akhjob]

Mobile wallet centralized companies?

If they close down you won't recover anything. Unless you pay for a lawyer to sue them and give back your funds.
With hardware wallet, even if its not updated it will still be there.
It is safe as long as you have the seed or the private keys.
That's the difference.

Even hardware wallets are manufactured and sold by a company. Of course, Hardware Wallets are more secure than Mobile wallets but there are many non-custodial, opensource mobile wallets out there. So if you are using a non-custodial mobile wallet you can still get your seeds/private keys.  

[Kong Hey Pakboy]

Storing your funds in a bitcoin mobile wallet is convenient because it is not time consuming when it comes to buying and selling your cryptos, and making transaction in online shopping sites. But storing most of your funds in a mobile wallet is not that safe even the developer says it is secured and you used 2fa code because hackers could still have access to it. That is why using a hardware wallet is really the safest storage to store most of your crypto funds.

[supine]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

Your title is misleading you should change it to "My five reason why I do not want to buy hardware wallet"

Okay so here is my answer to your opinion.
Hardware wallet is the best and have the highest security when it comes to crypto wallet.
Compare to online and mobile wallet it is much more harder but it is much more secure.
All of the things that you mention could also be said to the mobile wallet but the 5th reason is much more easier to be done in a mobile wallet I don't know if there is a record that would show us how many mobile wallet or online wallets has been hacked over the past few years and compared it to the hard ware wallets.
But it is your choice every wallet have their own advantages just like in mobile wallet it's advantage is if you are using or sending/receiving Bitcoin regularly it is the wallet that you should use.
But if you are using your crypto often and wants to hold it for a long time then hardware wallet would be the best since they have high security and isn't easy to be hacked.

[rodskee]

no one doubts the security of hardware wallets. But using a hardware wallet is primarily beneficial to those cryptocurrency users who send Bitcoin for cold storage and also store large amounts of coins. In other cases, the use of a hardware wallet in my opinion will not be rational. In turn, I use Blokchain.info and am quite happy with this resource, as this wallet offers multi-level security. At the same time, I can use this wallet not only through the website, but also using the mobile application.

In the sense of small users/investment Blockchain wallet can performed and sustained your needs to keep your small assets
safe, as they also have features where you can add securities.
Setting up 2fa and emails to make sure that it's you who are trying to access your wallet gives confidence if you only have
small funds to store or use for your daily trading.
Though it's no doubt that if you are into big investment having your own cold storage / hardware wallets to make sure that
you are the one who's in control of your assets provides more securities to your money.

[The Cryptovator]

You have mentioned here all the disadvantage of Hardware wallet, but why you haven't bothered to mention advantage of mobile wallets since your title indicating for that? Same all the disadvantages goes for the mobile wallet as well and mobile wallet would be on more risk than Hardware wallet comparatively. You could lost your mobile devices as well and it's very easy to hack any online machines than hardware wallet. Lost hardware wallet doesn't mean lost of your fund if you keep secure you seed phrase on multiple place rather than save on single place.

Anyway its something like discouragement post about hardware wallet. There would many reason why you don't like hardware wallet, but there would many reason why O don't like to store any funds to mobile wallet for me. Just keep in mind any offline wallet is safer than any online wallet. The fact is how you are going to secure your wallet credentials.

[Charles-Tim]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

Your title is misleading you should change it to "My five reason why I do not want to buy hardware wallet"

I do not think the title is misleading, it only needs us to read the content with it, you will be able to draw out the fact that pakhitheboss see mobile wallet more convenient than any other wallet because people can easily access wallet through the phone apps, and you will be able to draw out that he does not like the fact that hardware wallets are expensive while he can access some reputed wallets through phone apps. But, from the replies, we have known how hardware wallets are so important especially for those that store high amount of cryptocurrencies for not to panic.

[yhiaali3]

Well my dear, for the number one reason I don't think anyone will buy the hardware wallet to work it as a bounty hunter !! The hardware wallet is used to store Coins in the long run.
For Reason No 2, this defect is present in all wallets, whether a web wallet or a mobile application wallet, the mobile can also be lost and the wallet lost. But of course you can get it back if you own the wallet's private key.
for number 3, I told you the wallet is used for storage, not for bounty or exchanges.
for No. 4, what is prevented from updating the wallet? The update process is easy and not expensive.
for No. 5: all wallets, whether a web wallet, a mobile application wallet, or a desktop wallet, can be hacked via the Internet, not just the hardware wallet.

[Janation]

We already know that if you don't have the seed, you don't own it.

It is true there are a lot of mobile wallets that provide you with good connections to maybe some platforms where you can use your Bitcoins. But when you say you prefer it, I don't think it is that great. Its been years since people are actually saving their Bitcoins in their hardware wallet or the cold ones and it is much better. I think if you really need it you can send some to your mobile wallet but I don't prefer my Bitcoins to be saved there.

[Wexnident]

A matter of preference. Argument could mostly be said to be invalid since you aren't really saying anything that could make me want to use Mobile Wallets, instead, what you stated just persuades me not to buy Hardware wallets. Not using hardware wallets doesn't really mean that I would need to use Mobile Wallets after all. Besides, most of the reasons you've stated are actually just negatives of you (the person) being irresponsible. It isn't like there's a negative in the wallet itself (most of the time), it's just you being darn lazy and careless. And if for argument's sake let's say that I'm actually wrong, my points being wrong doesn't really mean that your points are right, or that mobile wallets are better.

[LogitechMouse]

1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.

Hardware wallets are for long term holders of not just Bitcoin but other cryptos for me so if you are just a bounty hunter, buying a hardware wallet isn't necessary anymore.

2. They are a liability as if, you lose it you will lose your investment.

The chances of being scammed or hacked if you are using a mobile wallet is higher compare to a hardware wallet. As you use your mobile, there is still a possibility that you can download some malware or viruses that may get your information. That being said, using hardware wallet reduces the risk of getting scammed or hacked.

3. They are not easy to operate and most exchanges do not support them.

I will assume that you are a bounty hunter here or a trader as you are thinking about exchanges. Like I said, for me hardware wallet is for those long term holders. Having a mobile wallet would be better if you want to sell your coins. Just my opinion though. I think they are easy to operate though isn't it? They are user friendly I think.

5. They can still be hacked if you are using them online for trading or other stuff.

This is possible but the chances are low if you aren't using it that much. I think that hardware wallets are very hard to hacked as what I'm hearing with the experts here.

[pakhitheboss]

There is actually no need to create a thread just to say you don't want to buy them. Of course, not everyone can afford to buy it.

Yes, there was a need to create a thread, beginners are foolishly wasting their money because everyone here is recommending it without even using one. I also did the same and regret it.

About maintaining those hardware wallets, may I know your opinion about what are those things that makes it difficult to maintain?

My 5 reasons are sufficient for you to understand.

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

2. The chance of losing a mobile phone is very less as they are no more palm device like hardware wallets. Another best thing about mobile devices is that they can be tracked and as well as disabled remotely.
3. Why would you want to make your life complicated using both devices? Choose one which has multiple usages like a mobile device.
4. They get auto-updates periodically which you do not need to monitor. You have to manually update and monitor updates.
5. Both android and iOS have firewalls they cannot get hack automatically unless the user downloads a malware. But, hardware wallets can be easily detected by that same malware when you are trying to update it.
[/quote]

[fiulpro]

I do think one should understand that , if you are not holding a huge amount of Bitcoins in your wallet then there is nothing wrong in using mobile wallets . Some Mobile wallets do provide you with instant buying and selling which is good for long term and short term trading.
The whole idea is :

It takes approximately 30 minutes for Bitcoins to be transferred from a hardware wallet to exchange therefore I do doubt that one would want to miss out on an opportunity where they can actually earn a lot .

The price changes every second sometimes and therefore I don't think that they should be used if your main focus is trading .

But if you do have a lot of money and you are going to hold your BTC till you become a millionaire then go for it ofcourse , they are amazing and very secure.

They are not a liability ! If you think correctly everything is a liability , it does depend on how you handle things.

Hardware wallets are not hackable until and unless you do know how to operate them rightfully. Even your mobile can be hacked , it does depend on the user at the end of the day and therefore I do think that one can go both ways , there won't be one right option.

[Reatim]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

One of the Members compared my 5 reasons with his reason why a hardware wallet is better? and I replied to that member adding 5 more reasons.

Questions

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

Answers

2. The chance of losing a mobile phone is very less as they are no more a palm device like hardware wallets. Another best thing about mobile devices now days is that they can be tracked and as well as disabled remotely.
3. Why would you want to make your life complicated using both devices? Choose one which has multiple usages like a mobile device.
4. They get auto-updates periodically which you do not need to monitor. You have to manually update and monitor updates.
5. Both android and iOS have firewalls they cannot get hack automatically unless the user downloads a malware. But, hardware wallets can be easily detected by that same malware when you are trying to update it.

In the end of all this is that either hardware wallets or mobile wallets are we using the most important thing is how we managed to took care of our assets here.

there are complete answers above about the advantage and disadvantage of Both hardware or mobile wallets but the bottomline is what we wanted to use and how we use it.

There are no need for debates,Let us Use what we want and respect our decision as easy as that.

[nelson4lov]

Hardware or Mobile wallets?  I'd say it doesn't really matter so far it does get the job (safekeeping our cryptocurrencies) done. Obviously both wallets have their pros and cons. Hardware wallet for example comes packed with much security features. Mobile wallets on the other hand provides ease of access to the wallet and that's a big plus since Mobile is the new trend.

I'm currently using a mobile wallet and it does get the job done. What most people don't realize is that is both wallets are vulnerable to attacks to a certain extent and users play a vital role in keeping their wallets secured at all times.

[Sadlife]

Indeed there are pros and cons to hardwallet and it's a problem to keep safe especially if you're neglectful. Yes, mobile wallets are much easy to use and accessible but if its becomes regulated they can easily freeze your Bitcoins that's the problem with central authority.
For me, i'd rather not put all my asset in one wallet.

[maydna]

Indeed there are pros and cons to hardwallet and it's a problem to keep safe especially if you're neglectful. Yes, mobile wallets are much easy to use and accessible but if its becomes regulated they can easily freeze your Bitcoins that's the problem with central authority.
For me, i'd rather not put all my asset in one wallet.

If you want to use a mobile phone wallet, I think you should use the other mobile phone which you don't use to communicate, so you don't have to carry the mobile phone anywhere because that will be too risky. You don't know if you can take care of the phone or not, so it is better to leave the mobile phone at your home, and you don't have to worry about losing the phone. Yes, we need to spreads the asset into many wallets, but we can also store it in one wallet, but we don't have to tell other people that we own that wallet. Just remember that you don't have to keep all of your assets in the exchange because we don't know if they still running for the long term or not.

[davis196]

My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.

My number one reason why I don't want to buy a hardware wallet:
Because it costs money.
Having a hardware wallet makes sense only if you have 1+ BTC and you wanna have the absolute best security measures(even though there's no such thing as 100% security).
I simply don't HODL that big amounts of BTC,so it's pointless for me to buy a hardware wallet.
On the other side,I think that mobile wallets are less secure than online wallets.
I've been using online wallets for about 4 years and I never had any problem.

[finaleshot2016]

My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.

My number one reason why I don't want to buy a hardware wallet:
Because it costs money.
Having a hardware wallet makes sense only if you have 1+ BTC and you wanna have the absolute best security measures(even though there's no such thing as 100% security).
I simply don't HODL that big amounts of BTC,so it's pointless for me to buy a hardware wallet.
On the other side,I think that mobile wallets are less secure than online wallets.
I've been using online wallets for about 4 years and I never had any problem.

That's what I've thought also but If you're aiming to save a lot of bitcoin, you can actually buy it now. It doesn't require to have 1 BTC before you buy it, as long as it has a sale ongoing, you should grab your own hardware wallet now. The reason why it costs a lot because of security, and obviously if the user is just a bounty hunter or earning BTC through airdrop and such, he/she doesn't need this and will just cost a lot. But if you're an investor and want to have a long-term investment on bitcoin, then it's a sign that you should have one.

Same with me, almost 3 years of using mobile wallet but there's nothing happened.

[sheenshane]

Same with me, almost 3 years of using mobile wallet but there's nothing happened.

We're the same experienced, I'd never use hardware wallet even though I wanted to use it because I'd read different suggestions that hardware wallet is more safe and reliable to store Bitcoin. One reason is, I can't afford to purchase and I'm contented to use with the open-source wallets and I didn't store Bitcoin for long term purposes.

We're all entitled to choose whatever we want and I respect those insights of what OP said, there's no problem with mobile wallets or let say custodial wallets if this is for short term holding of your crypto assets. There are no ending arguments because all of these have pros and cons. Everything can be hacked once we are on the internet, negligence will make your crypto asset lose.

[TopTort777]

My number one reason why I don't want to buy a hardware wallet:
Because it costs money.
Having a hardware wallet makes sense only if you have 1+ BTC and you wanna have the absolute best security measures(even though there's no such thing as 100% security).
I simply don't HODL that big amounts of BTC,so it's pointless for me to buy a hardware wallet.
On the other side,I think that mobile wallets are less secure than online wallets.
I've been using online wallets for about 4 years and I never had any problem.

Have you tried calculating how much you have paid in fees while using online wallets ? If you frequently send bitcoin via online wallet, you should have noticed, that commission is higher that just sending satoshi/byte. Maybe you have spent on fees more than mobile wallet cost.

For example once I've withdrawn about $600 from BitGo wallet and paid $20 for it   3-4 transactions like that and one could buy himself a brand new ledger

[Reatim]

My number one reason why I don't want to buy a hardware wallet:
Because it costs money.
Having a hardware wallet makes sense only if you have 1+ BTC and you wanna have the absolute best security measures(even though there's no such thing as 100% security).
I simply don't HODL that big amounts of BTC,so it's pointless for me to buy a hardware wallet.
On the other side,I think that mobile wallets are less secure than online wallets.
I've been using online wallets for about 4 years and I never had any problem.

Have you tried calculating how much you have paid in fees while using online wallets ? If you frequently send bitcoin via online wallet, you should have noticed, that commission is higher that just sending satoshi/byte. Maybe you have spent on fees more than mobile wallet cost.

For example once I've withdrawn about $600 from BitGo wallet and paid $20 for it   3-4 transactions like that and one could buy himself a brand new ledger

Wow this is something to look at,but my question is does using hardware wallet gives free transactions in every sending of bitcoin to other wallet?example i need to pay you bitcoin and i have hardware wallet if i send you the amount i will not be asked for transaction fee?sorry but i have not tried using HW wallet thats why i wanna know this matter so i will purchase mine as well.

I use local wallet and yeah i need to pay for fee everytime i need to send as payments for other peoples wallet and if you are correct then i can same too much money if i started my own online business in future.

[Twentyonepaylots]

Hardware or Mobile wallets?  I'd say it doesn't really matter so far it does get the job (safekeeping our cryptocurrencies) done. Obviously both wallets have their pros and cons. Hardware wallet for example comes packed with much security features. Mobile wallets on the other hand provides ease of access to the wallet and that's a big plus since Mobile is the new trend.

Well I don't see any cons of using hardware wallet, not even the accessibility unlike with the mobile wallets since hardware wallets are made to be fully secured. I'm not saying that mobile wallets are not secured, but they are less secured compare to hardware ones. Besides there were cases where mobile wallets are being hacked, funds stealing and the worst I've seen is that the whole software was injected with a virus leaking the user database. Just a suggestion when using mobile wallets, just stick with the old and reputable ones.

I'm currently using a mobile wallet and it does get the job done. What most people don't realize is that is both wallets are vulnerable to attacks to a certain extent and users play a vital role in keeping their wallets secured at all times.

Me too, so far I don't encounter any issues with it aside from sudden maintenance for upgrades and promotional ads. My mobile wallet from the beginning of my journey in crypto is still my wallet until now. I guess it's an achievement right? haha 

[Vaculin]

There are advantage and there are disadvantage as well, if you want good security, then go for hard wallet, but for convenience, go with the mobile wallet.
Actually I am using both, but for my long term investment, I made sure it's already stored in a hard wallet and put in somewhere safe.

[pawanjain]

I don't think it's a wise idea to compare a hardware wallet and a smartphone wallet since both serve their purposes well.
Instead of comparing the advantages and disadvantages of both we should be classifying both separately on the basis of priority.

If a person needs more security and is willing to put in the effort of securely maintaining it then he should go with a hardware wallet.
If a person needs to use his coins regularly and want it to be handy and wants the ability to continuously monitor it then he should go with a smartphone wallet.

Well that's what I believe. Different people have different perspective.

[yazher]

You can only use a mobile wallet for temporary when you don't have enough budget to buy a hard wallet. every bounty hunter has experienced this thing when they were new to the industry of crypto and when they gathered enough income to buy one, it's up to them if they want to. But honestly, as long as you have enough money to buy a hard wallet, you gotta buy one cause almost everyone is using it to maintain the highest security of their crypto assets.

[TopTort777]

my question is does using hardware wallet gives free transactions in every sending of bitcoin to other wallet?

Definitely not free, miners wants to eat to 
But using a mobile or hardware wallet you are able to set transaction price by yourself. You can even set 1sat/byte and wait for weeks for confirmation. But I'm 100% sure this variant is cheaper than accepting any fee that online wallet charge you.

[mariah.sadio]

Mobile wallets are free and mobile. Thats why it one of the best option for traders, especially on iOS

[Kakmakr]

You use different wallets for different reasons my friend. A desktop and mobile wallet is nice if you use your coins regularly and want quick access to your coins. Yes, hardware wallets might be a pain in the ass, but they are way more secure than mobile wallets.

I have to agree with you on the firmware upgrades also being a pain in the butt, because I have done several in the past and I struggled with some of them. Also when Ledger decided to develop their own App, it was a disaster for me, because it simply did not want to work on older Operating systems. (They develop these things for the latest operating systems and do not make it backward compatible with older Operating systems.) 

[stiffbud]

it simply did not want to work on older Operating systems.

The ting is windows already have stopped pushing updates for older operating systems and they are now vulnerable to attacks more than ever and if anything bad happens to your bitcoins then you will blame the hardware wallet provider for this but instead it was your fault to choose a less secure operating system in the first place. So that's the reason why the companies won't make these compatible with older obsolete operating systems.

Mobile wallets are free and mobile. Thats why it one of the best option for traders, especially on iOS

But you should always backup your mobile wallet as it is very mobile so there are high chances of it getting stolen and if there isn't any backup of your wallet then you can come in serious trouble, the same happened to me in the past and i have already learnt from my mistake.

[rexxarofmoknathal]

There are advantage and there are disadvantage as well, if you want good security, then go for hard wallet, but for convenience, go with the mobile wallet.
Actually I am using both, but for my long term investment, I made sure it's already stored in a hard wallet and put in somewhere safe.

@Vaculin is right, for higher security purposes is better to use a hard wallet but for ease and convenience mobile wallets are an option. It all depends on the amount of funds you feel comfortable with on a less secure wallet like on a mobile but I personally am quite cautious so I use the hard wallets.

I must stress that there aren't good or bad ways its more about something that suits you best.

[hulla]

If you think much about keeping hardware wallets safe and updating activities you'll be blamed with the convenience to users of mobile wallets and mobile wallets/web wallets are the most vulnerable. Besides, mobile wallets are for storing a few coins and making payments on the go.
With that been said, it good to use both hardware and mobile wallet one as storage the other for making payment.

[milewilda]

I don't think it's a wise idea to compare a hardware wallet and a smartphone wallet since both serve their purposes well.
Instead of comparing the advantages and disadvantages of both we should be classifying both separately on the basis of priority.

If a person needs more security and is willing to put in the effort of securely maintaining it then he should go with a hardware wallet.
If a person needs to use his coins regularly and want it to be handy and wants the ability to continuously monitor it then he should go with a smartphone wallet.

Well that's what I believe. Different people have different perspective.

I heavily agree on this one which you the thing you do said was right.This do matters on self perspective and depend on your own needs since both things are really created for their own purpose.
and as said when it comes to long term holds then nothing really beats out with hardware wallets and thats what im doing upto these years where i do separate on which one would be traded
actively and which one is really just intended for me to hold.Its just too hassle when you do store up your coins in a HW and you do actively making up trades or spending thats why we
do have mobile wallets which are really very easy to use or simply convenient.

[blue Snow]

Hello bro you can help me
Give me a bounty tutorial

you posted out off topic.

I think that we should use both wallets depending on the type of activity we do. Fortunately, each of them receive updates periodically to provide protection and a good experience for their users.

I will save hugh balance on hardware wallet and keep small (under 0.01 BTC) balance on smartphone because easy to pay some bill while mobile.

[cheezcarls]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

One of the Members compared my 5 reasons with his reason why a hardware wallet is better? and I replied to that member adding 5 more reasons.

Questions

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

Answers

2. The chance of losing a mobile phone is very less as they are no more a palm device like hardware wallets. Another best thing about mobile devices now days is that they can be tracked and as well as disabled remotely.
3. Why would you want to make your life complicated using both devices? Choose one which has multiple usages like a mobile device.
4. They get auto-updates periodically which you do not need to monitor. You have to manually update and monitor updates.
5. Both android and iOS have firewalls they cannot get hack automatically unless the user downloads a malware. But, hardware wallets can be easily detected by that same malware when you are trying to update it.

I use both hardware and mobile wallet. I bought the Ledger Nano S from my friend last year for only $100 because he has no plans of using it and needs emergency money. Everyone can express their own opinions regarding the hardware and mobile wallet. I don't have a problem with both hardware and mobile, as I am staying neutral with them.

Both of them has private keys or mnemonic phrases as our last resort if in case we don't remember our passwords. We have to make sure that the private keys or mnemonic phrases are stored somewhere safe on your notebook or a piece of paper (not on email, notepad, screenshot, etc.). Speaking of the screenshot, I learned the hard way when one of my phones got sudden forced factory reset.

You have good points about Bitcoin mobile wallet though. However, I would have to remain neutral on this one.

[fullhdpixel]

Ever since I started buying and making use of crypto, mobile wallets has always been the thing for me. I do not have interest in any other wallet. I do have a desktop wallet in my computer but I can't even remember the last time I made use of it, because it's pretty useless to me. My mobile wallet serves every purpose and there are lots of features in it, just like in the desktop wallet. So I am not going to stress myself.

The thing is, the same way you're against the use of hardware wallets, same as there are those that are against mobile wallets. Everyone is free to use whatever they want as long as it works for them. But as for me? Mobile wallet is the best for me and I don't have any problem making use of it.

[The cure]

I think we shouldn't compare hardware and mobile wallet because it has their own purposes in different ways. mobile wallet is a convenient way for us to use in so many ways of transacting, but if you want to secure your private keys more secured then use a hard wallet.

[rathaha10]

If you think I am wrong with my opinion then do comment.

Thanks.

I think hardware wallet still stabds out as the best because by comparing the number of security breach and hack of crypto funds so far from user ends, i think mobile wallets have the highest records. I do agree with you one point though, hardware wallet is quite expensive for someone who is small scale crypto investors but i believe the overall security of managing both hardware and mobile wallet greatly depends on the useramd every user should be responsible for keeping his/her assets save perfectly because i saw a twitter post of someone that lost all his btc to phishing scam with hardware wallet recently  

[MCobian]

Everyone has the right to a different opinion, and in my opinion the mobile wallet and hardware wallet both have advantages and
deficiency. So it depends on each of you, because everyone has different needs. But in my opinion both very good to use, even I myself
use mobile wallet and hardware wallet. I use a hardware wallet for long-term investment, while I use mobile wallet for short-term
investment.

[abel1337]

Everyone has the right to a different opinion, and in my opinion the mobile wallet and hardware wallet both have advantages and
deficiency. So it depends on each of you, because everyone has different needs. But in my opinion both very good to use, even I myself
use mobile wallet and hardware wallet. I use a hardware wallet for long-term investment, while I use mobile wallet for short-term
investment.

That's right, We do have different choices in terms of what wallet we are gonna use, I think it will be depending on us on what kind of wallet are we preferring to use and what kind of uses on every wallet.

I have multiple wallets in my possession. This is the list of my wallets.

- Hard wallet for longterm storage which is I'm rarely using
- Non-custodial online wallet as my main wallet. Short term storage.
- Custodial online wallet as my daily driver for different transactions.

A mobile wallet is a hassle-free type of wallet where you can use it every day with support from the wallet you are using but it is also prone to hacking.

It is better to use more than one wallet than having all of your bitcoin in a single wallet.

[bitbunnny]

Mobile wallets are very convenient and you have your coins always at disposal. They are easy to.use and update. Although they are not so secure as hardware wallets but definetely better than online wallets.
That is why it's good to.combine multiple wallets. Thus you protect your coins at the principle not all eggs in one basket.
Mobile wallet could definetely be one of your choices, especialy for the daily use.

[boyptc]

Buying a hardware wallet isn't expensive if you value your assets.

Hardware wallets are mostly being used as a cold storage and each balance that gets in is being kept for a long time. The comparison you made with mobile wallets, they are more prone to hacking.

[Leviathan.007]

Depends on yourself, but I never prefer mobile wallet since I know it's possible for me to lose my phone, break it or someone steals my from in the street. In this case, without a backup you will lose all your funds, unfortunately.
If you hold a huge amount of bitcoins the best idea is to use hardware wallets and keep it somewhere safe. About number "5.", as far as I know they can't not be hacked like this because even if you have active Trojan, malware, etc .... in your computer you use hardware wallet on it there is not any chance for the malware to get access into your wallet.

[blue Snow]

I think we shouldn't compare hardware and mobile wallet because it has their own purposes in different ways. mobile wallet is a convenient way for us to use in so many ways of transacting, but if you want to secure your private keys more secured then use a hard wallet.

it's still one purpose, compare it both make you more secure. You should read this https://bitcointalk.org/index.php?topic=5118062.0 that's hardware wallet especially phone

[oleg8791]

People recommend hardware wallets as they are the safest ones. I think cold wallets are essential for storing big amounts of crypto. But I never recommend a newbie to buy an expensive hardware wallet. 

[taufik123]

Everyone has different beliefs and perceptions in everything. Especially the use of bitcoin wallets on mobile or hardware wallet bitcoin.
Has advantages and disadvantages of each. OP's opinion about the use of a Bitcoin Wallet on a better mobile would be a reasonable choice because the OP is accustomed to using it.

The most important thing is to maintain the security of each type of wallet used. If you use a mobile wallet, you must keep from malware that lurks and never install unknown applications, because cell phone wallets are very vulnerable. Especially if the phone is lost or stolen by someone else, make sure all data is safe.

Hardware wallet has better security than mobile wallet (that's a fact), because it has been designed in such a way as to be used by people who really understand and need a secure wallet with better security.

[Triffin]

Hello bro you can help me
Give me a bounty tutorial

you posted out off topic.

I think that we should use both wallets depending on the type of activity we do. Fortunately, each of them receive updates periodically to provide protection and a good experience for their users.

I will save hugh balance on hardware wallet and keep small (under 0.01 BTC) balance on smartphone because easy to pay some bill while mobile.

Phone can get lost anytime so we should remain concerned about the safety of our bit coins. For using we should keep some bitcoin sperate in phone wallet but otherwise I think keeping bitcoin in hardware wallet or in blockchain. It is really safe when you hold your bitcoins in blockchain wallet. It will not be hacked and easily accessible whenever you need to use it.

[Magd solieman]

Bitcoin wallet on mobile is the common method used by many, especially after the companies that manufacture the wallets raced to create cold wallets, which made storing cryptocurrencies safer, easier and more reliable as many crypto operators started using cold blockchain instead of the old version.

[Gaaara]

As well as all of what you said is fact, mobile wallet has more features of course its a digital wallet and the other thing is that mobile wallet has updates where more features is coming where as hardware wallets' only purpose is to store your bitcoin and that's all.

[Ryker1]

Depends on yourself, but I never prefer mobile wallet since I know it's possible for me to lose my phone, break it or someone steals my from in the street. In this case, without a backup you will lose all your funds, unfortunately.
If you hold a huge amount of bitcoins the best idea is to use hardware wallets and keep it somewhere safe. About number "5.", as far as I know they can't not be hacked like this because even if you have active Trojan, malware, etc .... in your computer you use hardware wallet on it there is not any chance for the malware to get access into your wallet.

Well, sounds like you are right there. A mobile wallet is very risky to use if you don't have aback upon it and it seems most of them are a custodial wallet ^{[unlike the open-source wallet]} that you are not holding your own key. I used a mobile wallet but not for intended in holding for the long run, --I always prefer on hardware wallet which is we can more trust because we know that the backup seed is in our hands and nobody knows. Spending a little amount of you bitcoin just to buy hardware wallets in storing your crypto, in the long run, is worth it.

[Krislaw]

1. Hardware wallets are not cost and a bounty hunter could easily save for purchasing one
2. There are also reports of users losing their investment from mobile wallet hack. You should be responsible when operating a wallet.
3. I don't understand your point here. The moment that you're planning to get an hardware wallet, you should know that it isn't like a mobile phone. BTW, it comes with instructions, there are also video tutorials.
If you're talking about exchange support, hardware wallet provides it's users with wallet addresses which mobile wallets have too.
4. Periodically? Who doesn't update mobile wallet? Sometimes, new update comes with amazing features and bug fixes.
5. Hack happens everywhere if you don't know how to secure what you have.

My conclusion here is that either you don't like hardware wallets or you can't afford one.

[kawetsriyanto]

Well, actually the most secure may be the hardware wallet. But if it is related to the cost, you may prefer to others. however, the use of a hardware wallet not also depends on how much do you have. if you have a big asset to BTC, it is better to store the BTC in a hardware wallet. We may not risk our big asset only to save some money. It is better to pay for the cost of a hardware wallet to make our BTC secure enough.

However, if we only have a small amount of BTC, I think I will prefer the desktop wallet. today, the Electrum wallet is enough for me and I use it for the most transaction. So far, they are safe enough. But of course, we must be careful and also vigilant to secure all-important details and data. Every wallet has positive and negative sides. And what we take is based on the risks that we want to face.

[NavI_027]

And what we take is based on the risks that we want to face.

Yeah! Actually, I also do prefer hardware wallet above all things but the problem is its cost over the amount I can save to it. It's way too impractical. So for now I stick on my mobile wallet since I'm not so wealthy yet. Hmm, maybe I shift into desktop once I finally started my goal of daytrading and soon use hardware wallet as my money grow. Everything should be done on a step by step process .

But if I were asked, I find mobile wallets as safe as the other options. As long as you are not clicking anywhere with no apparent reason, avoiding your phone to get stolen and keeping the passwords, there's nothing to worry about. 

[Triorius]

Hi! Maybe you can consider the following option which i use.  That's a blackcatcard with a hot crypto wallet. That's its separate feature, not a crypto bank account. You  exchange crypto into fiat EUR in the app and top up a euro account with money and then pay anywhere mastercard is accepted. For me that seems more secure than ordinary exchanges as here the hot wallet is linked to the bank card which is highly protected.

[famososMuertos]

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

[ghost424]

It is not just Bitcoin Mobile Wallet which is useful nowadays. Using cashless transactions are more suggested now due to the fact that people do not get to face other people in this time of Pandemic (which only applies to a few countries now). We know that using Bitcoin Mobile Wallet will be really good because you can use it to pay for whatever you will be purchasing. Bitcoin wallets are more secure due to the fact that it will require various authentications before the transfer of Bitcoins.

[Golftech]

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

You need to secure your funds knowing how to properly setup your wallets and how to manage to make more secure is really important while you are
using crypto wallet, both investment or using it for your daily transactions.

It's best to keep your money from any form of hacking, if you have huge money to invest or to convert into crypto better to split so just in case there's
issue you can switch between wallet to another.

[LbtalkL]

That is the disadvantage of Hardware wallet if you lost it, goodbye to your coins. It is tiny as Flashdrive if you own a hardware wallet be responsible. We can agree on one thing I prefer mobile wallets too compared to Desktop wallets which you need to synchronize every time when you use it. If you have slow internet, a desktop wallet is a pain in the ass. These hardware wallets are much safer than any wallet of course but I have my own preference. If you lost your phone or is it is broken, it is not the end yet if you save the private keys or passphrase somewhere.

[finaleshot2016]

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

True, if you are not encountering any problems on a device, it's doesn't mean it will keep you safe forever from hackers.

The point into this, we shouldn't share something biased statements because we all knew that the mobile wallet isn't the practical wallet. This kind of thinking is not applicable in choosing devices but in general, be practical and choose those things that will benefit you a lot and has more assurance.

[Chime19]

There is no advantage in Mycelium wallet. that is not found in any other wallet, and we cannot describe an open source wallet as bad, but it does not contain all the features that you are looking for.
I prefer each operating system to have its own wallet, for example Electrum for window.
Electrum for Android
BRD for IOS
bitgo for webwallet.
and you can go to bitcoin.org and choose any wallet. all of them are good and security.

[Bitcoinislife09]

Everyone recommends a hardware wallet to store Bitcoin, which Bitcoin wallet is good to safeguard your investment for free is a question? maintaining those hardware wallets is a pain in the wrong place. My personal favourite is Mycelium wallet.

As of my experience, these are
My Five REASON Why I do not want to buy them?


1. They are costly if you are paid in Bitcoin as a bounty hunter or for a gig.
2. They are a liability as if, you lose it you will lose your investment.
3. They are not easy to operate and most exchanges do not support them.
4. They have to be updated periodically or you will never see your Bitcoin in them.
5. They can still be hacked if you are using them online for trading or other stuff.


If you think I am wrong with my opinion then do comment.

Thanks.

One of the Members compared my 5 reasons with his reason why a hardware wallet is better? and I replied to that member adding 5 more reasons.

Questions

2. Same with mobile wallets, if you lose them, you will lose all your coins unless you made a backup or stored your keys (if provided).
3. Using both Hardware and mobile wallets are easy to understand. It depends on a user's ability to understand the interface. You don't have a hardware wallet right? How come you conclude they are not easy to operate.
4. Same with mobile wallets, you have to update it regularly. I don't see any mobile wallets that don't need an update.
5. Same with mobile wallets, they are also prone to hack.

Answers

2. The chance of losing a mobile phone is very less as they are no more a palm device like hardware wallets. Another best thing about mobile devices now days is that they can be tracked and as well as disabled remotely.
3. Why would you want to make your life complicated using both devices? Choose one which has multiple usages like a mobile device.
4. They get auto-updates periodically which you do not need to monitor. You have to manually update and monitor updates.
5. Both android and iOS have firewalls they cannot get hack automatically unless the user downloads a malware. But, hardware wallets can be easily detected by that same malware when you are trying to update it.

The main thing that the mobile bitcoin wallet gives is I think the portability that it gives to the users. You could just open some of the hardware wallets on a personal computer which is not reliable. Having a mobile bitcoin wallet gives you an easy access anywhere like for example if you need to pay in a grocery store or some other restaurant you could just easily use your mobile phone to pay. But of course, compared to having a hardware wallet it is more secured than having a mobile wallet.

[Swordsoffreedom]

That is the disadvantage of Hardware wallet if you lost it, goodbye to your coins. It is tiny as Flashdrive if you own a hardware wallet be responsible. We can agree on one thing I prefer mobile wallets too compared to Desktop wallets which you need to synchronize every time when you use it. If you have slow internet, a desktop wallet is a pain in the ass. These hardware wallets are much safer than any wallet of course but I have my own preference. If you lost your phone or is it is broken, it is not the end yet if you save the private keys or passphrase somewhere.

You are right, both have some advantages and disadvantages too. There is nothing in the world that only gives advantage. Everything has some good or bad side. you told the disadvantage of hardware wallet, but you know it is safer than mobile wallet or software wallet. If you lost your hardware wallet, that is entirely your fault, your unconsciousness. But if your mobile wallet is scammed or hacked, it is the problem of your mobile wallet or operating system. If we use hardware wallet consciously then I don't think there is any reason to worry about hardware wallet.

[Sanugarid]

We should not be so closed to just having a unique look at a certain option, in something that only really manages our funds, because in practical reality it is mobile or hardware, security always depends on us, nobody else.

If you have many BTC , so make a distribution of funds on several devices, please, do not put all the eggs in a "mobile" sorry a basket.

The above seems like a cliche, but it is the reason to say that I use both options.

True, if you are not encountering any problems on a device, it's doesn't mean it will keep you safe forever from hackers.

Any thing doesn't guarantee everything. Have you heard mobile wallets saying we are unbreachable? instead they are saying " we are secured platform blah blah . . ." and these two are different.
I must agree that most of mobile wallets are secured, it has an encryption from our technology which makes it harder to breach, but always remember that there is no safe system. Even bitcoin's algo can break by supercomputers.

The point into this, we shouldn't share something biased statements because we all knew that the mobile wallet isn't the practical wallet. This kind of thinking is not applicable in choosing devices but in general, be practical and choose those things that will benefit you a lot and has more assurance.

Well for me using a mobile wallet is practical, what is not for me is buying a hardware wallet but for some they do coz they want a fully secured wallet. Still at the end of the day, it is you that keeps your own money.