an offline wallet works very similar to a hardware wallet. so it’s nothing revolutionary.
When you use an offline wallet you keep your seed on a wallet installed on a pc offline that never got and never will be connected to the internet.
How do you make a transaction?
You use another wallet on your smartphone in watch only mode. It means it can “watch” the wallet but can’t move funds! Because it doesn’t have the seed stored to sign transactions. So you see balance, all the addresses, transactions history but you aren’t able to move funds outside.
You will use this wallet that is connected online to create a transaction. This transaction lacks of the sign, this wallet can’t sign it not knowing the seed.
So after the transaction is created, it can be in the form of a file or a QR code, you move this transaction to the Wallet offline and you sign it.
Now the transaction is signed and can start! But your computer is offline, so you move again the transaction signed to the wallet on your smartphone that doesn’t know the seed, and this wallet will send the transaction now that it’s signed.
This kind of configuration can be done using electrum desktop offline and BlueWallet on your smartphone or again electrum on an another online pc.
To increase the security you should use electrum that comes will tails operating system.
All this process is not revolutionary but the same thing done smoothly by any hardware wallet.
The pro of doing this way is:
you don’t have to buy a hardware wallet
you trust your hardware and the electrum you use offline, not the hardware wallet
I would suggest a solution like this only to expert users. If you aren’t an expert user don’t try this and keep going on with your hardware wallet. But if it’s done by an expert user it could have the same security or even higher than using a hardware wallet
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