Hi Guys, what's your view on using a brand new Android phone with Blue wallet as a cold storage/hardware wallet for Bitcoin?
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Buy a brand new low cost Android phone - Don't add a sim - Install blue wallet using wifi - - Disable/forget wifi - Put in Airplane mode (phone will never go back online)
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Generate seed - add passphrase - Scan QR of xpub thro regular phone - Receive funds through regular phone - send funds by signing transactions using the wallet phone using QR codes.
The entire process looks clean and easy.
Video help available here: https://youtu.be/f-8elm8xCLs?si=405XltHi63ydFQJW
Ben in the video talks about two disadvantages:
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Phone doesn't have a secure element chip. So physical access to the phone by an expert may expose the keys. True. But we are anyway safe guarding the seed. We can as well safe guard the phone. Isn't it?
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The phone may have already been infested - yes, if we are using an old phone for this. But if we buy a brand new phone from a reputed maker (like Samsung), we don't have this issue.
So you guys see any other drawbacks here?
Now to the advantages, why should we do this, if we already have hardware wallets in the Market?