The Secret Spacebar Trick on iPhone and Android That Lets You Move the Typing Cursor
I once sent a work email that said "teh" in the second sentence, on purpose, because I had tried four times to get the cursor between those two letters and kept landing two characters off, and at some point I decided a typo was less embarrassing than continuing to poke at my own screen like a man trying to pick up a coin with oven mitts.
That was my normal. Tap, magnifying glass appears, cursor lands in the wrong place, tap again, worse, give up, hold backspace and delete the entire rest of the sentence, retype it. I did that several times a day for years.
Then someone watching over my shoulder said "just hold the spacebar." I held the spacebar. The letters on the keyboard faded out and my thumb was suddenly driving the cursor around like a laptop trackpad. I had owned iPhones for the better part of a decade.
Why nobody finds this
It's a hidden gesture on an invisible control, and neither platform tells you about it. There's no icon, no tooltip, and no moment in setup where anyone mentions it: you either see someone else do it, or you don't.
Which is a shame, because it solves the single most annoying interaction on a touchscreen. Tapping to place a cursor asks you to hit a target a couple of pixels wide with a fingertip about forty pixels wide, while your own finger covers the thing you're aiming at. It was never going to work well. The trackpad gesture sidesteps the whole problem: you're no longer touching where you want the cursor, you're steering it from somewhere else entirely.
Both platforms have a version. They work slightly differently, and the iPhone one has a second half that almost nobody knows about.
Step 1: On iPhone, press and hold the spacebar
Press and hold the spacebar until the letters on the keyboard fade to blank, then slide your thumb around without lifting it. The whole keyboard becomes a trackpad and the cursor follows your thumb anywhere in the text: up lines, down paragraphs, wherever. Lift your finger to drop the cursor. It takes about a second to trigger, and the fading letters are the confirmation that you're in. Works in every app that has a keyboard.

My Expert Tip: Once you're in trackpad mode on an iPhone, tap with a second finger to start selecting. Keep the first thumb steering and the text highlights as you go: that's how you grab an exact phrase without ever touching those horrible little blue drag handles. A second tap extends the selection word by word. This is the half of the feature nobody demonstrates, and it's the part that actually replaced a task I hated: selecting three words in the middle of a paragraph used to take me four attempts and now takes one gesture. If two fingers is awkward, pressing and holding anywhere on the keyboard with two fingers at once also drops you straight into trackpad mode.
Step 2: On Android, slide along the spacebar
Put your finger on the spacebar and slide left or right: the cursor moves with it, one character per bit of travel. No long press needed on Gboard; it's a straight slide. It's more precise and less free-roaming than the iPhone version, which makes it excellent for nudging a cursor a few characters and less useful for crossing a whole paragraph. If nothing happens, check your keyboard's gesture settings, since some manufacturer keyboards ship with cursor control switched off.

Step 3: Learn the backspace swipe too
On Gboard, swipe left from the backspace key to delete whole words at a time. Drag further to take out more, and, the bit worth knowing, if you go too far, slide back to the right before lifting your finger and the greyed-out text comes back. It's an undo built into the gesture itself. Between the spacebar slide and this, most of my mid-sentence repairs stopped involving any deletion of correct words.

Step 4: Practice it once in a notes app
Open a notes app, paste in a couple of paragraphs, and spend two minutes deliberately moving the cursor around and selecting things. This is the step people skip, and it's why they read about this trick three times and still never use it. Two minutes of deliberate practice is what turns it into something your thumb does automatically at the exact moment you need it, rather than something you remember existed after you've already deleted the sentence.

Step 5: Pick up the neighboring shortcuts while you're here
Double-tap the spacebar to get a full stop and a space in one move, and on an iPhone swipe left with three fingers to undo and right to redo. The three-finger undo is the other one people gasp at: it beats shaking the phone, which is the older gesture and makes you look unwell in public. Double-tap-for-period is enabled by default on both platforms and is the single biggest saver of thumb travel in ordinary typing.

Step 6: Stop tapping to place the cursor entirely
Make a rule for a week: never tap to position the cursor, always use the gesture. The tap habit is deeply worn in and it'll reassert itself the first time you're in a hurry. A week of forcing the gesture is what makes it stick permanently. After that you'll do it without deciding to, which is the point, and you'll start noticing everyone around you doing the magnifying-glass poke and getting it wrong.

What this changed
I used to delete and retype whole sentences maybe ten times a day rather than fight with the cursor: call it a few minutes daily, and a low-level irritation every single time. Now a mid-sentence fix takes about two seconds and no swearing.
The thing I find slightly maddening is that this has existed on my phone for years and cost nothing, and I only got it because somebody happened to be sitting next to me. Which is a reasonable argument for watching how other people use their phones: most of the genuinely good shortcuts are undocumented and spread purely by someone saying "wait, what did you just do?"
Go open any message box and hold the spacebar right now: then hit the share buttons below and send this to the friend you've watched poke at their screen five times trying to fix one letter.