Hi,

Here are my own ideas about strategy/theory of choosing a hardware wallet.
It is not an advice for users, it is not to teach somebody and it is not an article like "how to....".
I am a newbie, I am asking questions and I am reading a lot what Big Smart Guys on this forum tell and I think about it. I am also doing  my own researches.
So this topic is theoretical, I wrote it in order to share conclusions I could draw based on what I know about hardware wallets today.

And  you guys please write what you think and feel free to critisize my post in order to update this strategy.

The strategy (or theory) of choosing a wallet depending on purposes and user's situation.

Situation 1.

You have amount of btc (or other crypto) which is close to the price of a hardware wallet. Like 50$ - 100$ current value.
May be you don't need a hardware wallet at all if you are not going to receive more coins.
Then a good software wallet would be may be the best choice.
But if you plan to get more coins in the nearest future then probably you should go to situation (3) and buy a hardware wallet anyway. To have it ready to accept coins!

Situation 2.

You have a some Capital for trading and for short-term (max 1 month) investments into altcoins, new coins, not reliable coins, shitcoins (LOL) etc. May be for transferring forks after you claimed them if you didn't sell them immediately after having got them.
In this situation you need a convenient hardware wallet which enables you to do everything you need to do very quickly and very easy way (in order not to mess up with something and to be able to buy and sell instantly).
You should choose the most convenient, quick and easy operated hardware wallet, preferably with large touch screen, and it is OK if it is closed source. This wallet is not for holding your savings and not for long-term investments and not for holding bitcoins.
Convenient, quick, easy - these are the requirements. For example SecuX (probably).

Situation 3.

You use bitcoins in your life. Receiving them, sending them, paying with bitcoins for goods and services.
Then best choice is a reliable, well known, well tested open source hardware wallet like Trezor or Bitbox.

Situation 4.

Your consider your btc a short-term investment. You are waiting for bitcoin exchange rate to raise to some level and then you are intending to exchange your btc for ordinary currency like USD or EUR or your local currency if it is other than those .
You definitely need a well tested open source hardware wallet like Trezor or Bitbox.
May be even 2 wallets. If 1 get damaged or broken you can instantly switch to another one. Or one wallet is for investment and another one for everyday use (if situation 3 is also actual).
But I am not sure about necessity to have 2 wallets in such a situation when it is possible to order and get a new wallet quickly.

Situation 5.

The amount of bitcoins you own and the cost of living in your country make it possible for you to live completely on your bitcoins.
So you exchange some bitcoins for ordinary  currency from time to time and you spend this money for living.

You definitely need a reliable, secure, well tested wallet like Trezor or Bitbox.
May be even 2 hardware wallets. To switch between them quickly if one of them get broken/damaged/ out of order. Though I am not sure if it is really necessary to have the second one in such situation when you can order and receive a new one quickly.

Situation 6.

Your bitcoins is a long term investment. You are not going to sell it this year, next year, 5 or 10 or 20 years more. And you don't care about its current exchange rate.
Then you don't need any hardware wallet at all to hold you bitcoins. Though you need one for set up.
Set up a hardware wallet, transfer you investment there, make good safe secure  backups of your seed and passphrase (if you use passphrase). Then wipe/reset your hardware wallet. The backups (on SD, paper, metal or all of them) is the best way to hold long term investment. Without hardware wallet.



For now those are all situations and purposes that I can imagine. Of course there can be more different situations and more different purposes.
But I am an unexperienced newbie, so this  strategy (or theory) of choosing hardware wallets is limited by those purposes and situations which I can imagine.

I think it is always good to know "Why? What for?" if you buy something.

What do you think?
Can you add more situations/purposes/solutions?
Also please feel free to critisize and disagree and write about this!
Your experienced opinion is extremely valuable!