So Bitcoin hardware wallet is slower for daily transactions

[YellowSwap]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

[Cookdata]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

The question is do you prefer convenience or saftety?
The purpose of hardware wallet is to keep your private keys completely offline, you can use it to run hundreds of transactions but it's not safe to take around anywhere you go, you can be completely offline but you can get attack physically.
Software wallet are convenient, you can have them on your phone and take them anywhere you want but just for safety, use it for small transactions of hundred of dollars.

Electrum isn't the only mobile wallets available, I use Blue wallet too and it's available for Ios and Android primarily for only small transaction, there are more Bitcoin mobile wallets available apart from electrum.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

This statement is a time bomb, it's may be true that the person that made the comment does it but it's a poor practice to have large amount of money on any software wallets. Even centralized exchanges that send in and out thousands of transactions daily don't keep all their assets on software wallets/hot wallets, they are kept on cold wallet. This is to avoid any attack on their customers assets.

[hd49728]

Electrum isn't the only mobile wallets available, I use Blue wallet too and it's available for Ios and Android primarily for only small transaction.

There are many Bitcoin wallets for mobile and Electrum is only one of them.

There is a filter for wallets from Bitcoin.org website.
https://bitcoin.org/en/choose-your-wallet?step=1

What are recommended mobile wallets?
https://learnmeabitcoin.com/beginners/wallets/#mobile-wallets
BlueWallet, Electrum, Blockstream Green, and Mycelium are recommended wallets on mobile devices.

[Botnake]

Hardware wallets are mainly for security, that’s why people keep them cold and offline so the risk of getting hacked is very low. But for everyday spending, especially small amounts, a mobile wallet is just way easier to use.

Both have their own strengths and weaknesses. If someone values convenience and speed, they’ll probably rely on a hot wallet. If security is the priority, then obviously a cold wallet makes more sense. That’s why a lot of users split it up, keep the big balance in the hardware wallet, and the day-to-day stuff in a mobile wallet.

[sokani]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

I do not agree with you. I understand that when using a hardware wallet, it might take you a little time to connect your device to a PC or mobile phone in order to approve the transaction, but that does not mean it's slower than online wallets. The speed of a transaction is dependent on the blockchain network and not the device. Once the transaction is signed, it's the same speed it uses whether you use a HW device or an online wallet.

[Ruttoshi]

The process to make a transaction with your hardware wallet takes more time compared to a software wallet. Hardware wallets can easily be stolen when you move around with it because people know that it's a hardware wallet unlike, a software wallet that is downloaded in your device. Everybody moves around with their phones and no one will suspect that you have a bitcoin wallet installed in your phone without access to your phone.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this.

No it's the opposite. People use a hardware wallet to store majority of their bitcoin holdings for the future while hot wallets for only their daily transactions. Hardware wallets gives a better security and good to keep large amount of bitcoin since it's always offline.

[Floxynice]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

You need to read more about wallets so you'd know the choices of wallet you should go for. Hardware wallets are not for everyday use, although you can still use it everyday if you want to, but you would be defeating the purpose for which it was made. Hardware wallets are made primarily for security purposes. If you have large amount of bitcoins you do not intend to use immediately, the hardware wallet is recommended to keep it safe. If you want to save bitcoins for long term, you'll need a hardware wallet for that. It is meant to remain offline and not to be carried about everywhere. You can go for the electrum wallet if you need a wallet you can spend from everyday.

In a nutshell, you need the software/mobile wallet like electrum for small bitcoin holdings and everyday transactions
You need the hardware wallet for large amount of bitcoins and long term savings

[Hatchy]

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

I'll choose safety over convince anytime. People store valuables in bank vaults due to the fact that such precious items are meant to be kept safe and away from the reach of anyone. Same with bitcoin, for large amount of coins, you should be wise enough to avoid storing them on your mobile devices. We get in contact with alot of unknown malwares everyday and you don't want such devices to hold your coins, we know what happens next. So to play safe over convince, store your coins on hardware or a cold storage and leave a few on your mobile wallet just for your everyday use.

[BitMaxz]

I don't know why everyone said that it is slower to make transactions with a hardware wallet. For me, the process of making a transaction with a hardware wallet won't take much time.
There's an additional step, but I don't think it would take 15 minutes to make an unsigned and signed transaction and then broadcast it.
If you are planning to use Electrum, mobile hardware should be supported via OTG like Trezor, so making an unsigned transaction and signing it with Trezor should not take more than 15 minutes to make.

Plus, you have a security advantage over just using Electrum as a hot wallet.
I agree that making transactions with a hot wallet is direct, but if you want an extra layer of security, adding 5 minutes or less won't hurt much to create a transaction with a hardware wallet. It is actually much better for daily transactions because your keys are much safer.

[Z-tight]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

Isn't this very easy to understand, you don't want to carry your hardware wallet with you in order to sign tx's, just because you want to pay for coffeee or you want to buy grocery. Your hardware wallet stores your keys offline and it is usually for long term storage. If you want to spend BTC often, then you should have an online software wallet for spending on the go. Such a wallet would hold a small amount in BTC, probably less than $200, depending on how much you can afford to lose.

You also don't want to spend $20 in BTC from an address that holds ~0.5 BTC. It would expose your holdings to your local merchant and you could be a target of a $5 wrench attack.

[Potato Chips]

There are hardware wallets out there that have good balance of security and convenience. One example are trezors which I would consider beginner friendly and convenient actually. In fact, if you like electrum, you could even use trezors HW with electrum PC—not possible with the mobile version last I checked— and other compatible wallets.

Ultimately, hardware wallets are a good investment for security. Plus, you shouldn't be only considering convenience alone in crypto because you could get burned in the end. There are lots of super convenient ways out there that sacrifices huge on security, and you wouldn't want that.

[Zaguru12]

Plus, you have a security advantage over just using Electrum as a hot wallet.
I agree that making transactions with a hot wallet is direct, but if you want an extra layer of security, adding 5 minutes or less won't hurt much to create a transaction with a hardware wallet. It is actually much better for daily transactions because your keys are much safer.

It definitely not that much of a difference in my opinion since the hardware wallet transaction can simply varies that of an any of the hot wallet with just a little time variation most especially this new hardware wallets that are been made similar to the a mobile phone of recent. But for me I still think the only hindrance will most definitely come for a daily user of bitcoin for almost every time transaction. I think moving around this kind of time with an hardware wallet with all bitcoin locked there is simply risky, for me this where it’s usually ok even though not the best to have a very little amount of bitcoin on an hot wallet, most probably a mobile wallet like electrum such that you can make transactions easy and wouldn’t need to have hardware wallet around

[tabas]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

It's not actually hard, you just have to put that HW in the computer as you do the transaction and confirm it from there. It's not convenient because you'll have to insert that from time to time if that's where you're pulling out your funds. I'm just curious what kind of transactions or business that requires you to do business that everyday. Well, so that you won't have any difficulty in doing transactions. Use hardware wallets as an actual long term storage and you'll rarely touch the funds there. And if you're doing transactions often, use wallets that have been suggested to you like Electrum so, you just have to access that without the need of the hardware.

[noorman0]

-snip-
They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this?

Not true, a large of money is relative. The amount in their mobile's Electrum probably doesn't even reach 1% of their total holdings. While hardware wallets aren't designed for daily use, they're worth the security they offer.
However, hot wallet is a dangerous area. That's why even centralized exchanges occasionally move large funds to multiple cold wallets. Those more security-conscious use a risk-stratification strategy.

[MusaMohamed]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

Electrum is a SPV wallet that does not require huge storage space and it's main reason people like Electrum wallet. This wallet software is available for mobile too, and it is another reason people like Electrum.

You must know that people can use Electrum as a cold storage wallet too.
How to create a cold storage wallet in Electrum.

Hardware wallet only need you to create your transaction offline on one device, and sign it on another device, it does not make your transaction broadcasting too lower than using hot wallets.

[X-ray]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

I don't think there's any significant difference for daily transaction. With hardware wallet you kinda just need to connect it and press some button to confirm the tx.

But if you just want portability and convenience, simply set up a wallet in your phone and treat it like a hot wallet. There's no stopping you to do that.

I usually only used hardware wallet to store crypto and never daily transaction.

[Outhue]

The process.

Unlock the phone or the hardware wallet.
Copy paste address or scan using QR code scanner, same on software and hardware wallet.
Then click on send...

Tell me how this is different, I have owned few hardware wallets and I have used different software wallets too, you process the transactions the same way, there is no significant time saved when using one over the other, people should stop saying nonsense.
The only difference between these two that needs to be discussed is, hardware wallet can't follow you around like your smartphone does, if you are running a business it's better to leave your hardware wallet at home in a safe, this is the reason it was created.

Anyone can spot a hardware wallet in your hand but smartphone is general, everyone has it, a stranger still needs to unlock your phone to know that you are into crypto.

[dkbit98]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient?

This nonsense you heard is not true.
Hardware wallets are just signing transactions, so it doesn't really matter what type of wallet you used to send bitcoin.
More important thing is what fees you used, or if you used more complex multisig setup for sending your coins.

[₿itcoin]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

They also said that this is why people have large amount of money in their software wallets, I means those who do business around Bitcoin , but how true is this? Are they saying that there is no Bitcoin hardware wallet today that's snapier for making payment? Even if you want to spend Bitcoin everyday.

The point is that hardware wallet  are able to keep our private key super secure by keeping it offline. It is very beneficial for security. However using it usually requires you to connect the device, unlock it &  manually authorize transactions, which can be very cumbersome at times. If you make frequent small transactions  then simply opening the phone app &   clicking the send button is much easier &  more convenient than this process. Wallets on your phone or computer are instantly available for payments &  quick transactions, which is very convenient for everyday spending. However  if your private keys are on an internet  enabled device  they can be vulnerable to attacks such as malware, phishing  or theft

Of course  using hardware wallets for everyday transactions can be a bit of a hassle &  this is why many people avoid them. However  if you store a lot of Bitcoin or are concerned about security   it can be a reasonable solution to keep most of your assets in a hardware wallet &  transfer some money to a software wallet for small expenses. With this method   you will enjoy other benefits along with security

[melinoe]

Is it true that using hardware wallet to do everyday transactions are hard and not convenient? I have read from comments several times that people would rather use electrum wallet as payment solutions for everyday spending because it's a mobile wallet and very faste r to use.

I do not agree with you. I understand that when using a hardware wallet, it might take you a little time to connect your device to a PC or mobile phone in order to approve the transaction, but that does not mean it's slower than online wallets. The speed of a transaction is dependent on the blockchain network and not the device. Once the transaction is signed, it's the same speed it uses whether you use a HW device or an online wallet.

Agreed.

The ability to have a more secure way for your operations is a choice everybody makes, as well as OP have to.