Replying to Avatar Leo Wandersleb

Tough question as you would first have to define what constitutes a hardware wallet.

I would argue that a hardware wallet needs to let the user add entropy at key creation, ideally supporting dice ware, allow writing down a backup (which requires a screen), use open standards so experts can verify if the entropy also gets used according to these standards, it needs to be able to display transactions for confirmation on the device and it needs to follow standards again to avoid key exfiltration.

If you settle for anything less, you might be paying for hardware that still is vulnerable to a rug pull by a compromised provider.
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faisal 1y ago 💬 2

Agreed with every word. I wanted it simpler though for friends who don't hold much and new to this.

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Leo Wandersleb 1y ago

What a friend are you? Friends don't let friends use rugable toys. Give them Phoenix or some other high quality mobile wallet for small amounts and set a timer to remind them to move funds to a real hardware wallet once Bitcoin goes x10 again.

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faisal 1y ago 💬 1

Of course not ruggabale. I disagree on putting funds in LN for the sake of just parking them there.

But I agree on utilizing good mobile wallets.

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Leo Wandersleb 1y ago

Well ... depends on how low these friends want to go with their stack. When they want to start with $1 or so, I occasionally even point them to custodial wallets as it makes no sense to pay $5 to get started with $1. But LN is just more fun to add more sats to the stack than with on-chain.