Let’s say I invest in a physical Bitcoin wallet. They aren’t exactly free, so it’s going to cost me money, effort, time and energy (to set it up and put coins on it).
It’s not like I can actually use it in physical stores. And if I’m supposed to use it as a secure storage device for all my coins, doesn’t it just scream “STEAL/SEIZE ME!” to burglars and the cops? And if I keep it hidden in my fireproof safe, why buy such a hardware wallet instead of just an encrypted USB stick with a wallet.dat on it? Much cheaper and the convenience of a hardware wallet is gone if it’s physically tucked away in my safe anyway.
Basically every way I look at it, it seems like a bad idea.
The only situation I can think of where it would be good is if I were to meet up with a person physically to buy something from them with Bitcoin. I wouldn’t want to take a computer with me, even a laptop, so then that hardware wallet would come in handy, if I “load it up” from my Bitcoin Core before leaving my home.
But that’s a pretty specific and rare (to me) scenario. It’s never happened, in fact.
As nice as it first sounds to have a dedicated hardware device which in theory allows me to easily pay people Bitcoin “on the go”, I don’t see the actual use of this in this world as it is now. Is this only useful in some theoretical future when Bitcoin has taken over? If so, is it really a good idea to buy a hardware wallet today and risk it becoming obsolete by the time Bitcoin ever takes off?
Is there something I’m missing?