Cut videos on external hard drive?

I have a laptop with i5 7200u nvidia 940mx and would like to cut 4k video material on premiere with it.
I have some questions with cutting on an external hard drive:

Which one is best for that? SSD or HDD? Should I premiere install on the external hard drive or is it enough to have the program on the laptop? Does that make a difference in terms of speed?

An SSD would be only for faster load times, you can calmly use an external hard drive. Crucial here is the CPU, here the i5-7200U, this does the job of rendering the video, the speed of the hard drive should not be a major problem, if even USB 3.0 is used, USB 2.0 could be too slow.

Oh really I've always read that an SSD should always be much faster / better. What faster loading times do you mean? Is there an HDD you would recommend?

The bottleneck could be the interface of the external disk to the laptop.
It should therefore be a volume that is at least "SuperSpeed" or better "SuperSpeed +" certified.
Of course, your laptop must have an appropriate USB 3.0 or 3.1 interface.

If you only have USB2 available, so beat you with a video cut from the head. Way too slow.

I have the 3.0 interface. Is everything else really matter? Does not the speed have anything to do with using an SSD or HDD?

The advantage of SSDs is the access speed. This is noticeable in many small files.

At the maximum, sequential read / write speed you have to pay close attention to the specs of the SSD in question, which is in there.
But generally one can already say that SSDs are faster here as well.

But what good is a fast SSD, which may be faster than superspeed if the USB port slows down?

SSDs are faster, but they do not affect the speed with which a video is rendered. Because SSDs, unlike HDDs, have no mechanical parts, they have much faster access times (with HDDs, the read / write head must always drive to the position first). As a result, SSDs influence e.g. The start time of Windows or the start of installed programs (here Adobe Premier). Just as mchawk777 said, but also does not use an SSD, if USB 2.0 is used. Make sure that there's a USB 3.0 port, a USB 3.0 cable is used, and that the external hard drive also supports USB 3.0.

An SSD is also faster and therefore better, you're right but this speed is nice when you boot up or when you work with a PC. When it comes to data, that just often does not make sense. So it's better if the pictures or videos load a few seconds faster, but can be quite expensive from a certain amount of memory.
I use for pictures, videos, etc. Synonymous for video editing an 8TB Seagate Barracuda in an external 3.1 Gen 1 housing. I can always take them everywhere and everything cost 250 euro. Now imagine how much that would have cost in SSD variant…
The other advantage of HDD besides the price is the longevity. SSDs simply do not last as long as HDDs.

This does not mean that I absolutely do not recommend SSDs. Anyone who does not boot from an SSD in 2019 does not have to wonder about the long time at startup. And who still buys / builds a PC or laptop without SSD has simply no idea. SSDs are not that expensive either

The advantage is USB 3.0 or better.

But that's almost irrelevant anyway because the CPU takes forever. This is a DualCore with ~ 3GHz.

Yes 3.0 interface I have. Do you mean it does not matter if HDD or SSD? Could you recommend a model for me?

This really does not matter, because your CPU would not manage to send so much data that the HDD or SSD is busy.

Can you recommend me one?

This is not possible, you have a notebook and this one can't swap the CPU.

Otherwise, the AMD Ryzen are predestined for video editing.

I mean an external hard drive

No. Since it almost does not matter which you take, even the simplest HDD will not exhaust you. So you should buy a simple low-cost model. However, if there are many write operations, the WD Purple is not wrong.

https://idomix.de/wd-black-blue-red-purple-was-die-farben-bei-western-digital-bedeuten