Bitcoin wallet on phones

[_act_]

If asked the best wallet to use that is secure, experts will advice people to use hardware wallet like Trezor or Ledger Nano. But not everyone can afford it, some people will prefer to use other wallet.

If the person can not afford hardware wallet or because he just want to store bitcoin for years, experts will advice the person to read about paper wallet very well and use it.

Some people will want to be spending bitcoin frequently and they can not afford hardware wallet, paper wallet can not be used for convenience. The person will be advised to use online wallet. Experts will recommend desktop wallet for the person like electrum but only small amount will be said to have if the person is using desktop wallet.

Some people will want to use bitcoin and be using it for transactions very well, the person do not have hardware wallet and computer, the person will use mobile wallet because he has phones, everyone has phone.

I have noticed people do not recommend wallets on phone, but in reality, some people do not have money to buy hardware wallet and do not have computer but having it in mind to buy it later when they have money.

Let us say the person want to use phone temporary and he is using it for small amount but the remaining amount is on his paper wallet. Let us aay the phone is stolen, can the person that stole it be able to steal his bitcoin? The phone have password.

Is there a way the password can be bypassed to access the wallet. Phone password are not long, is it possible for the pilferer to hack the phone password to have access to the phone.

Or is it just because of online safety that experts are telling others people not to use phones for wallet? I know some dangers why we should not use mobile wallet but I want to gain more knowledge about this. And what I want to gain is about if a pilferer stole a password phone, how can the pilferer access the contents in the phone which can cause wallet hack and bitcoin to be stolen.

[1714056163]

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[RILWAN]

Phone wallet can only be compromised if the phone is not secure activities such as password and if the person can have access to your email account and your private keys. For me phone wallet is ok but I will make sure only I have access to my password and give my private key to a trusted second party like my wife or kid.

[Cookdata]

Do you know why we have most wallet on PC, it's because developers built them and most of the time it is a collective efforts of people combined. They keep improving to satisfy the need of people and the one you see mostly recommended is Bitcoin core(you get both privacy and proper security) and ready for download for everyone and their source code is always available on Github repository, another mostly used is Electrum but privacy wise, it's not recommended, they are both available for Linux and windows.

Android and IOS controlled the device they produce and they are very centralized with the App you upload on their store, it undergoes series of test before they publicly published for the masses, you see the stress and that's why developers don't waste time on Android and IOS due to their centralized nature.

BlueWallet is good choice since it has good balance between security and ease of use. But if you have serious privacy concern and willing to learn, check Samourai Wallet.

I think ETFbitcoin suggestted Samourai wallet if you want something portable for mobile bitcoin wallet.

For your security, avoid paper wallet, this is 2022.

[Bttzed03]

I remember when I had my phone stolen a few years back (pre-crypto journey), I went to one of our Government Agencies to lock it. After it was successfully locked, the officer asked for my emergency number to contact me if my old phone was unlocked by the thief or anyone who bought it. What can we conclude from this? I don't have the technical knowledge how they do it but there are tools to reset passwords or passcodes on your device.

[OmegaStarScream]

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Let us say the person want to use phone temporary and he is using it for small amount but the remaining amount is on his paper wallet. Let us aay the phone is stolen, can the person that stole it be able to steal his bitcoin? The phone have password.

Is there a way the password can be bypassed to access the wallet. Phone password are not long, is it possible for the pilferer to hack the phone password to have access to the phone.
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It's possible but it depends. If you imported the private keys from the paper wallet, then yes. One can always try and crack the phone's or the wallet's password. However, if you just sweep the private keys instead of importing them, spend the funds, then anyone who gains access to the phone afterward shouldn't be able to access your paper wallet but then, sweeping has its downsides as well because if your phone has already been infected by a malware, then the hacker would have access to the PKs.

[Taskford]

If asked the best wallet to use that is secure, experts will advice people to use hardware wallet like Trezor or Ledger Nano. But not everyone can afford it, some people will prefer to use other wallet.

If the person can not afford hardware wallet or because he just want to store bitcoin for years, experts will advice the person to read about paper wallet very well and use it.

Some people will want to be spending bitcoin frequently and they can not afford hardware wallet, paper wallet can not be used for convenience. The person will be advised to use online wallet. Experts will recommend desktop wallet for the person like electrum but only small amount will be said to have if the person is using desktop wallet.

Some people will want to use bitcoin and be using it for transactions very well, the person do not have hardware wallet and computer, the person will use mobile wallet because he has phones, everyone has phone.

I have noticed people do not recommend wallets on phone, but in reality, some people do not have money to buy hardware wallet and do not have computer but having it in mind to buy it later when they have money.

Let us say the person want to use phone temporary and he is using it for small amount but the remaining amount is on his paper wallet. Let us aay the phone is stolen, can the person that stole it be able to steal his bitcoin? The phone have password.

Is there a way the password can be bypassed to access the wallet. Phone password are not long, is it possible for the pilferer to hack the phone password to have access to the phone.

Or is it just because of online safety that experts are telling others people not to use phones for wallet? I know some dangers why we should not use mobile wallet but I want to gain more knowledge about this. And what I want to gain is about if a pilferer stole a password phone, how can the pilferer access the contents in the phone which can cause wallet hack and bitcoin to be stolen.

People will recommend you the safest since this is what they know can make those people safe if they ask about best wallet to secure their funds. But actually wallets on phones(apps) is totally fine if they are registered on the country where you belong and been regulated by finance agancies. Also if you know the danger and can able to handle well your balances.

I'm actually using a "wallet on phone" for so long or shall I say from start of my venture here in crypto and so far never get any headache nor got any problem for using it on my daily transactions.

[GeorgeJohn]

I remember when I had my phone stolen a few years back (pre-crypto journey), I went to one of our Government Agencies to lock it. After it was successfully locked, the officer asked for my emergency number to contact me if my old phone was unlocked by the thief or anyone who bought it. What can we conclude from this? I don't have the technical knowledge how they do it but there are tools to reset passwords or passcodes on your device.

Shall i will say is very diabolic, infact it's very hard to comprehend such, because i believe that if your phone is been stolen and if the thief want access the phone it most passed through the process of formatting of the phone and input it personal security code after formatting the phone, before you could reset existing password, you will have the details of the initial password, so i believe resetting of password is not possible because it requires to input the Old one before it will grant access and become successful.

So this is applicable to the wallet, because before penetrating into wallet you import the phrase code and without having the pass phrase it will very rigid to open.

[mk4]

Let us say the person want to use phone temporary and he is using it for small amount but the remaining amount is on his paper wallet. Let us aay the phone is stolen, can the person that stole it be able to steal his bitcoin? The phone have password.

Is there a way the password can be bypassed to access the wallet. Phone password are not long, is it possible for the pilferer to hack the phone password to have access to the phone.

Or is it just because of online safety that experts are telling others people not to use phones for wallet? I know some dangers why we should not use mobile wallet but I want to gain more knowledge about this. And what I want to gain is about if a pilferer stole a password phone, how can the pilferer access the contents in the phone which can cause wallet hack and bitcoin to be stolen.

It's going to depend on the security of the phone. Some phones locks up the phone for longer and longer periods of time if the user gets the phone's passcode wrong a good amount of times. At the same time, if the phone's memory isn't encrypted, the thief can simply plug the phone into a computer and start digging for the private keys.

Also, phone wallets aren't necessarily bad. It's just not a good security practice if you own a good amount of bitcoin(probably more than $500 worth). But if you only have like a hundred dollars worth of bitcoin, then a reputable mobile wallet will suffice.

[lovesmayfamilis]

Keep in mind that if you use a mobile wallet, the danger may lie in the applications you download, which can be programmed to send your private key to an attacker. We often see hacks of mobile applications that steal money from users.
There are also many instructions on the Internet on how to make reliable storage out of your smartphone. But again, this phone cannot be used for all other purposes. It must be disconnected from the Internet. But since you write that the problem is in finance, even this method will not be an option. It remains only to save and purchase Trezor or Ledger wallets in the future.

[Maus0728]

Let us say the person want to use phone temporary and he is using it for small amount but the remaining amount is on his paper wallet. Let us aay the phone is stolen, can the person that stole it be able to steal his bitcoin? The phone have password.

I don't think so, from a non-technical standpoint. Bruteforcing mobile phone security is difficult, especially if you have a 6 to 8 pin passcode. Both 6 and 8 pin passcodes could generate hundreds of thousands of combinations, making it difficult for the attacker to gain access. Worse, after multiple attempts, the device would forcefully reset itself, wiping all applications, including the wallet.

However, if your phone is stolen and your lock screen is set to biometric authentication, the likelihood of gaining access is quite high due to the fact that a $5 wrench attack^[1] can occur, forcing you to unlock your own device. Much worse, if the attacker is not dumb enough, they can replicate^[2]your fingerprint allowing them to have access on your device later on.

Even if you cannot afford a hardware wallet, the only way to reduce the risk is to avoid storing large sums of money on a mobile wallet, particularly if it is stored on a phone that you use on a daily basis, where gaining access or stealing is almost unavoidable.

[1] https://cryptosec.info/wrench-attack/
[2] https://www.forbes.com/sites/daveywinder/2019/11/02/smartphone-security-alert-as-hackers-claim-any-fingerprint-lock-broken-in-20-minutes/?sh=2d40582a6853

[Beparanf]

Just a quick suggestion. Have a backup phone that has a copy application of your wallet and authenticator so that you can reset everything when your phone got stolen or broke. I use this method after my original phone got broke and I didn't backup all my apps especially the authenticator for all my exchange account. I experience too much hassle by contacting all the support of exchange I'm using and suffer some loss on my electrum since I save my seed phrase on the note of that same too.

I always have a backup now after all the hassle I experienced that time.

[o_e_l_e_o]

There are a number of problems with mobile wallets.

First, app stores are filled with fake and malicious apps. Even if you find the "right" wallet, most are closed source. Even the ones which are open source are often not reproducible from the published code.

Secondly, you aren't just trusting your wallet app, but you are trusting every single app on your phone. Most other apps are not open source, and even if they are, you probably haven't reviewed the code. Apps which can access your keyboard can steal your seed phrase. Apps which can access your storage can steal your private keys. Apps which can access your clipboard can change your addresses. Apps which can access your screen can take screenshots of your seed phrase. Apps which have elevated permissions can run arbitrary code. And so on.

Third, you are carrying your phone around every day and it is one of the most likely things you own to get stolen, far more likely than a hardware wallet or a paper wallet.

Now, I still use a mobile wallet, but I use it in the same way I used cash - a small amount which I can afford to lose which I carry on my person for daily spending. The bulk of your money should be in a more secure wallet . You wouldn't carry your life savings around in cash, and so you shouldn't put them in a mobile wallet.

[Lucius]

I have noticed people do not recommend wallets on phone, but in reality, some people do not have money to buy hardware wallet and do not have computer but having it in mind to buy it later when they have money.

If someone can afford a smartphone of, say, $50, then they can also afford a hardware wallet that costs about the same. It seems that some still live in the past and think that HW costs a minimum of $150 + shipping. Security should have no excuse, especially if it is quite cheap today.

Is there a way the password can be bypassed to access the wallet. Phone password are not long, is it possible for the pilferer to hack the phone password to have access to the phone.

The security of smartphones is actually trivial, whether it is a simple PIN or a fingerprint - someone who knows what he is doing, easily bypasses such protection. Since mobile phones are most often lost, this is another reason why they are a bad choice for a crypto wallet. In addition, locking smartphones with a fingerprint is very risky, because anyone can use it while you sleep or are in another unconscious state.

[o_e_l_e_o]

If someone can afford a smartphone of, say, $50, then they can also afford a hardware wallet that costs about the same.

If your entire crypto holdings are worth $20, then sure, a mobile wallet might be enough, but if you are storing more than a few hundred dollars worth of crypto on a mobile wallet then you can afford a hardware wallet and it's a smart investment.

In terms of keeping your coins safe; simple, free, secure. Pick two.
Mobile wallets are simple and free.
Hardware wallets are simple and secure.

In addition, locking smartphones with a fingerprint is very risky, because anyone can use it while you sleep or are in another unconscious state.

They don't even need access to you. Fingerprints can be lifted from anything you touch, including your phone itself, the very thing you are trying to use your fingerprints to control access to. Unless you wear gloves 24/7, fingerprints are a risk. And many facial recognition or iris scanners have been fooled with a simple photograph. Biometrics are not secure.

[dkbit98]

I have noticed people do not recommend wallets on phone, but in reality, some people do not have money to buy hardware wallet and do not have computer but having it in mind to buy it later when they have money.

So they have money to purchase smartphones and change them every few years or less, but they don't have money to purchase hardware wallet.
I find that hard to believe, but nobody is forcing you to buy it, you can also use old airgapped computer if you know what you are doing, or some old phone without sim card and internet connection.
Using your regular every day phone for storing keys for Bitcoin is just a nightmare scenario waiting to happen.

Is there a way the password can be bypassed to access the wallet. Phone password are not long, is it possible for the pilferer to hack the phone password to have access to the phone.

All smartphones have backdoors (demanded by governments) and they can be hacked easily by someone who knows what they are doing (read government agencies).
You can protect your phone from tiny criminals with strong passwords and encryption, but all that falls if they blackmail you or do $5 wrench attack on you.
Using your phone you are sending your location and behavior non-stop and I don't want to have that combined with my bitcoin addresses ever.

[SquirrelJulietGarden]

One of bad practice people usually do is they do multiple things on a same phone.

- Install bitcoin or crypto wallet
- Install exchange applications
- Install 2FA application
- Log in email which they use to create account on exchange

So what will happen if they lose that phone by any reason? They will lose their coins because bad people who get that phone, will have full access to their account, email, 2FA, etc.

Only hope that they won't get access to Bitcoin or crypto wallet.

[Findingnemo]

Electrum is available for Android platform as well so if you're going to store only the bitcoin then just use electrum which also allows you to have a password/pin to enter into the Electrum application so which is extra safety even though if someone stole your mobile and brute forced the pin/password/pattern lock.

If your device is stolen you can immediately import your Electrum wallet on any ither device and just send all the funds remaining there to a newly created wallet.

We wallets are okay if you are going to store less than $500 but using Electrum is a lot better than we wallet because it gives you private key so there will be no hassle like email Authorization needed when you try to login from a new device which is a big problem with coinbase or blockchain like wallet.

[_act_]

Android and IOS controlled the device they produce and they are very centralized with the App you upload on their store, it undergoes series of test before they publicly published for the masses, you see the stress and that's why developers don't waste time on Android and IOS due to their centralized nature.

They are centralized, I am using Android, may be this what I want to say is possible on iOS too. They are centralized but there are fake apps on playstore, I have seen fake electrum and some other fake android wallets before on playstore. But there are ways you can easily know original apps on playstore but someone that is new may make mistake.

For your security, avoid paper wallet, this is 2022.

I use electrum with tor enabled, I change it also from one country to another for each connection. If I want to connect and make another transaction or accessing the wallet for whatever reason, I change the country again. Even if I want to change to another wallet, I change the country again. What is most important is the way you handle the wallet, I am good with electrum.

First, app stores are filled with fake and malicious apps. Even if you find the "right" wallet, most are closed source.

I use electrum and I do not download it from playstore, I download it from electrum.org which is the official site. There are ways to know original apps on google but what is I do not like is that most apps nowadays are close source.

One of bad practice people usually do is they do multiple things on a same phone.

- Install bitcoin or crypto wallet
- Install exchange applications
- Install 2FA application
- Log in email which they use to create account on exchange

So what will happen if they lose that phone by any reason? They will lose their coins because bad people who get that phone, will have full access to their account, email, 2FA, etc.

I can not have my 2fa app on the phone I use for wallet or exchange and for other secure connections, that is foolishness, it has to be on different device. But this is a common mistake from people that are using wallets and exchanges now.

[nakamura12]

There are reasons why using a wallet that can be installed on phone is not recommended but it doesn't mean that you can't use it. It's up to you if you want to use mobile wallets or not as long as you keep it safe. I myself is using Trustwallet on my mobile phone and also electrum and I didn't have any problems with my wallet. I have been using these wallets starting from 2018 until now but I also have another wallet in laptop. The wallet I used is for receiving btc and i'll send the funds to my main wallet later on.

[o_e_l_e_o]

They are centralized but there are fake apps on playstore

Even if you find the correct app on the Google play store, you are still inserting an unnecessary middle man in to your download process. Who is to say that someone at Google hasn't tampered with the file they received or even replaced it with their own before uploading it to the play store for download? The correct method to download Electrum for Android is to download the .apk file directly from electrum.org on to your computer, verify its signatures, and then transfer it to your phone for installation.

I use electrum with tor enabled, I change it also from one country to another for each connection.

This is certainly far better than how most users use Electrum, but there is still a risk to your privacy. Every time you open your Electrum wallet, you are querying the server you connect to for the balance of every address in your wallet. If you use Tor then the server might not be able to see your true IP address, but they can certainly link all the addresses in your wallet together since you are querying all their balances simultaneously.