Bitcoin
Using old iPhone as crypto wallet draws mixed industry response
A blockchain investigator proposed using a dedicated iPhone for cryptocurrency transactions, sparking debate over hardware wallet security.
Following heightened security concerns around quantum computing threats and the Coldcard exploit, blockchain investigator ZachXBT argued that a dedicated old iPhone would serve as a superior alternative to dedicated hardware wallets for signing transactions and storing funds.
Key Tornado Cash developer Roman Storm responded positively to the concept but identified a critical limitation: the absence of a mobile application offering BIP39 passphrase support, an optional security layer that lets users add words to their seed phrase to create hidden wallets. Storm also noted that switching devices does not address the fundamental risk of compromise from people within a user's household.
Other industry participants countered the proposal, pointing out that major hardware wallet manufacturers including Trezor, Keystone, BitBox, Ledger, and Coldcard already support BIP39 functionality. Commentators from Keystone and Trezor highlighted that general-purpose devices like iPhones lack the specialised security features of dedicated hardware wallets, making dedicated devices generally superior under current conditions.
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