Secure Hardware Wallet on the Cheap

Storing your cryptocurrencies on your computer, cellphone, or any other device is not as secure as you may think. It's fairly easy for your devices to get hacked, and chances are the hacker knows how to use cryptocurrencies and find your wallets. The solution is hardware wallets. Many people suggest dedicated hardware wallets like a Trezor or Ledger, but the good ones can cost upwards of $100, and in almost all cases you need separate device to even use your cryptocurrencies making the actual usage of these hardware wallets often inconvenient. My solution? Getting a cheap Android device and throwing Jaxx on it, and when not in use shut it down... you can't hack a device that isn't even turned on.

Having a dedicated Android device to house all of your cryptocurrencies is, IMO, way better than any dedicated hardware wallet. You only need ONE device, the phone, you don't have to wait for the developers of said hardware wallet to add support for a specific coin as long as someone makes an app for it (typically happens faster), and it's still quite secure. Albeit, if security is the only thing you care about, go with a Trezor. But for the average cryptocurrency user who just wants to keep their coins safe, a cheap Android device is definitely the way to go. Here's what I did:

Step 1: The Device
Get a cheap Android device. It can be an old phone you already have, or it can be something off of Ebay, as long as it has Android Lollipop 5.0 or up due to security patches. I suggest a used LG Leon, I got mine for $37 and it's perfect.

Step 2: Reset
Factory reset the phone. This is easy enough to do, on most Android devices it will be in the settings somewhere. On the LG Leon you want to hold the power button and the volume down key at the same time, when the LG logo pops up let go of the power key, use the volume down key to select "Yes" and then press the power button.

Step 2.5: Root (Optional)
If you know how to or are up for a challenge, I suggest rooting the device (will only work with the Metro PCS version of the LG Leon) and then flashing an AOSP ROM with no GApps, and then uninstalling any unnecessary system applications with a root uninstaller like Titanium Backup. This will up your security quite a bit but is only for advanced users.

Step 3: Setup
After this is done, you'll want to go through the setup process. I suggest signing into NO ACCOUNTS, yes not even Google. Skip all of them, this will keep your device much safer.

Step 4: Jaxx

Since you don't have a Google account on the device, you can't use the Play Store. So you'll need to download the Jaxx APK from this link (https://apkplz.com/android-apps/jaxx-bitcoin-amp-ethereum-wallet), or any reputable APK mirror site. Once it's downloaded on the device, open and install. It will likely prompt you to enable unknown sources, it will take you to a settings menu where you can scroll down until you see "Unknown Sources" just check the box and try installing Jaxx this time, it should work. Once you've done that you'll want to open Jaxx and either import an old wallet (not suggested) or create a completely new one and then later send all of your coins to that wallet (highly suggested). This means the wallet was never on any other device and will be extremely safe. You'll definitely want to backup your memoric phrase/seed somehwere. I suggest putting it in an encrypted text document accessible in multiple places on the internet. If you don't know what I'm talking about, learn how to use VeraCrypt. Make sure you set a secure device PIN or pattern.

Step 5: Encryption (Optional)

This step is definitely optional, but is very easy to do and will increase your security by a lot. Make sure the device is charged to 90% and stays plugged in, go into the security settings, and click encrypt device. It should take 10-20 minutes to complete.

Step 6: Profit
Now that your new device is setup, hold the power button and shut it down, now it's essentially unhackable. Whenever you want to use it just turn it on, connect to a Wi-Fi network (I use my main phone's hotspot) and spend away!

With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.
-Satoshi Nakamoto