Bike hall effect sensor

I got a Bell F20 bike computer years ago and didn't really use it much. I have since learned that it is a piece of garbage. The controls don't match the manual and you can't reset trip distance or ride time without reentering the tire size, time, rider weight etc.

It's wired to the wheel sensor with two contacts. I've never used a hall effect sensor, I was wondering if it is likely that I can just hook it straight up to an atmega chip and make my own computer for it. Or will the sensor likely have a very specific reading conditions? The F20 uses a 3v cr2032. I was thinking about using an attiny85 or 84 at 3.3v if I can get them working with a nokia 5110.

But anyway, should I try to just hook the contacts up to my arduino? I don't want to bother removing everything to work on it unless it seems possible.

You should be able to connect a hall effect switch straight up to the arduino. You can even use the digital inputs of a 5V arduino as there should be enough signal to trigger one.

Now that I'm reading about hall effect sensors I see that they require 3 leads. This only has two contacts, could it be a reed switch?

could it be a reed switch?

Yes.

Sorry, I should ask more specifically... Is it most likely a reed switch? And in that case will it work just like a regular switch?

The answer is still yes, yes.

Excellent, thanks