1. Are there any disadvantages of using a hardware wallet?
I have heard they make private key extraction difficult.
2. In what circumstances would you need a private key? What are private keys purpose?
3. What happens when lose a hardware wallet?
Thanks in advance.
I personally use a Nano S Ledger and I am very satisfied with it. It is very important to write down the recovery phrase, that could be used in case of stolen or lost.The private key is used to access your wallet.Before storing your cryptocurrencies, please
get very well informed about it.