As far as I believe the idea behind HODLER it to take step forward and bring cryptocurrency payments to everyday life. If you only use hardware wallet as a storage that is fine. HODLER has got a vision where you can go to any shop and pay securely for your groceries with cryptocurrency of your choice. This would finally allow us to live without the influence of greedy bankers and central banks. Bringing the power back to normal people.
Following that an additional functionality is needed, without compromising security. HODLER is a hardware wallet meaning it is offline most of the time. Only about 1 sec connection is needed when you are sending payment. Your phone on the other hand, is online 24/7 and you have got many apps installed on it, each being a potential threat to your cryptoassets. Many of us are guilty of trying games apps or playing Quizzes on Facebook or similar. All of them require to accept T&C's which no one bothers to read. This is the main reason why your wallet needs to be separate/independent from your phone, or even computer.
I have written an article explaining the gaps in security of hardware wallets that HODLER team addressed: https://steemit.com/cryptocurrency/@alesa/do-you-think-your-hardware-wallet-is-safe
More detailed description of the security features of HODLER can be found on the website and specially in this document: https://hodler.tech/docs/SecurityDescription.pdf
Thanks interesting perspective. I wonder how many people would use a hardware wallet like that. Then again we are all very different.
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You are right, we are all very different so we will build the most universal wallet - cheap, secure, easy to pay, with almost all cryptocurrencies supported and with feature for high street retailers. Thank you for your essential opinion.
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Thank you for clarifying issues raised. All the best with the project. I'll be watching closely and should get one when its ready. Ho do you determine which coin to put on your hardware wallet?
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Alesa thank you for explanation the HODLER idea.
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Great answer. I'm going to investigate further. Small shops are screaming out for crypto payments. Especially for things like buying gas/electricity where the customer really notices the fee...
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