I'm moving things around regularly and I'm wondering wether the security benefit is worth it over the increased friction of having to use a physical device every time I need to sign a transaction. Is there a safer middle ground or something?
If I'm only holding 2k in BTC, is a hardware wallet worth it?
byu/The-Real-Recruit inBitcoinBeginners
Posted by The-Real-Recruit
9 Comments
Would you be mad/sad if you lost the 2k tomorrow?
No
> to use a physical device every time I need to sign a transaction.
Thats exactly when you would need a hardware wallet ideally, if you are constantly sending outgoing transactions. If you are mainly just savings you can skip a hardware wallet if you prefer and create your own cold storage. Another exception is if 2k usd of btc is a small spending balance for you instead of a major investment. Its all relative
Is it the monetary cost of the hardware wallet or the process of learning and using it that is the reason you ask this question?
hardware wallet always worth it, u can resell and get some of the money back
but is unnecessary u can store ur bitcoin mounting a node
Yes. Trezor Safe 3 is less than $100
Is $2K a significant amount to you? What if it were frozen? Do you plan on accumulating more?
No*
* but a Trezor Model One is $49 so why not get it and learn self custody and more about Bitcoin because hopefully you will have more one day.
YES IT IS! Cold storage is the revolution!
That is when the satoshis are truly yours. If you have them on an Exchange, THE SATOSHIS ARE NOT YOURS.
NYKNYC