The Tears Test: Mobile Cryptocurrency Wallets vs Hardware Wallets
It is okay to store most of your cryptcurrency (including bitcoin) in a non-custodial mobile wallet? Not really. How much crypto should you store on your phone? Apply the tears test! 😢 Save yourself some tears and watch this video.
0:00 Is it okay to store most of my crypto in non-custodial phone wallets vs hardware wallets?
0:15 Mobile wallets compared to desktop
0:41 The tears test for hardware wallets
Where to store my cryptocurrency is a common question and honestly a constant struggle for most people. We want our bitcoin to be 100% safe but also we want to have access. In this video, Andreas quickly explains why phones are great for small amounts of crypto but not so great for larger amounts. He applies what we’re calling the tears test, which is if you would cry if you lost that amount of cryptocurrency, then it’s probably too much crypto to hold on your mobile device.
Andreas workshop Choose Your Cryptocurrency Wallet will teach you all about mobile, desktop, software, and hardware wallets. Most importantly, he’ll teach you how to stop relying on others and learn how to choose your own wallet for yourself. Learn more and watch a video preview: https://aantonop.com/workshops
This question is from the bonus livestream on Key Management which took place on May 23rd, 2020. Watch the entire video here: https://www.youtube.com/watch?v=bc3HQqCSl7A. If you want to ask questions early (before the live event), become a Community Builder on Patreon: https://www.patreon.com/aantonop Patrons get early access to ask questions, view talks, behind-the-scenes content, and much more.
Bitcoin Q&A: Climbing the sovereignty staircase – https://youtu.be/pOVm8YK3A_0
Bitcoin Q&A: Is it safe to use one seed for all your wallets? – https://youtu.be/q_T7BR6zD1I
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About aantonop: Andreas isn’t promoting a company or an organization; he’s paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com
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