0 sats \ 2 replies \ @satoshisat OP 12 Oct 2022 \ parent \ on: PSA: When choosing a cold wallet realize that some require software be installed bitcoin
Storing keys alone is not the reason to use a HW wallet. The real reason one would benefit from a hardware wallet vs other methods of key storage is the ability to sign transactions when you want to spend bitcoin. If all you're doing is holding bitcoin then agreed, a hardware wallet is not necessary.
I'm sure you're spending bitcoin as well so I'm curious what these "better ways to store my keys" are that still allow you to spend your bitcoin without too much hassle.
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0 sats \ 1 reply \ @DarthCoin 12 Oct 2022
LN is only for spending. Onchain is only for holding.
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0 sats \ 0 replies \ @satoshisat OP 12 Oct 2022
That makes sense and it's how I handle it as well. That said, sometimes my transaction wallet gets low and I transfer some sats from my holding wallet to my spending wallet and for those instances, having a HW wallet is convenient. I guess if you stay on top of your transaction wallet balance and never let it get low, then this is not an issue.
A good analog would be checking vs savings account although even in those traditional accounts I end up having to transfer funds from savings to checking to keep checking funded.
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