I occasionally see people saying hodling your BTC on a dedicated phone using Bluewallet or Samurai is just as secure as using a hardware wallet. Thoughts?
Discussion
Cold wallets are always more secure than hot wallets.
A phone that’s turned off most of the time is pretty much a cold wallet though. Granted you have to connect when you want to make a transfer etc
If you do not have the private key in a device that you own, or that device has been plugged in to a network where any other devices have access, you should make the assumption that key is comprised. Now, your play sats, that’s fine. Meaning you HODL so much you don’t mind losing those sats. I am cheap and hold only a few sats in my #[2]​ lightning wallet so I can #zap some #plebs. (Yes, I should build my ln-node… bla, bla, bla)
What do you think?
Using your old phone as a hardware wallet.
Create private key on it offline and never again connect it to the internet.
Sign transactions using QR codes.
Not sure one can trust standard hardware - see here, about a a chipset 'phoning home' and compromising privacy, no matter what's is used 😕