The past few years have witnessed an explosive growth in the use of wireless mobile handheld devices as the enabling technology for accessing Internet-based services, as well as for personal communication needs in ad hoc networking environments. Most studies indicate that it is impossible to utilize strong cryptographic functions for implementing security protocols on handheld devices. Our work refutes this. Specifically, we present a performance analysis focused on three of the most commonly used security protocols for networking applications, namely SSL, S/MIME and IPsec. Our results show that the time taken to perform cryptographic functions is small enough not to significantly impact real-time mobile transactions and that there is no obstacle to the use of quite sophisticated cryptographic protocols on handheld mobile devices.