I can move the cursor by pressing and holding the spacebar or 3D touching anywhere on the keyboard. I can then 3D touch harder in the same movement to select a word and drag to select more. One tap on that selecting brings up the menu. Double tapping selects a word, double tap and drag lets you select more. Here the menu appears instantly.
And the proficient users can even three finger pinch to copy and three finger zoom to paste. Or three finger tap to get a special menu.
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This one might be specific to me but I can type on mobile nearly as fast as I can on my keyboard (I might just be a slow typer). I also sometimes feel like I’m the only one who highly appreciates autocorrect. It rarely makes mistakes (great, now I get roasted for every typo).
Still, editing on the computer is much better. I use a lot of shortcuts and vi modes where I can. But I don’t think this can be emulated on mobile. Please prove me wrong.
