Quote from: Xenophoto on September 17, 2018, 10:33:20 PM

Quote from: pinoyden on September 17, 2018, 10:23:47 AM

Quote from: Nasonn on September 17, 2018, 09:05:09 AM

There are a number of software wallets for Bitcoin, but I believe the best way to store your Bitcoin is through a hardware wallet. Most times why people's wallet get hacked is as a result of poor handling of their keys, so to make sure you stay safe, try as much as to keep your keys safe from they prying eyes of the internet by either using a cold storage.

even if you are using a hardware wallet there is still a chance that you can experience a problem. Like for example what of you did loose your hardware wallet ? Or what if it is get damage by water, fire , sand or you accidentally drop it and it got shocked resulting for you to loose all you data inside it .

you can also get hacked or phihsed whenever you insert your usb ( hardware wallet ) and paste your private keys to any exchange .

See? Almost every action do still have a risk . so whether you use hardware or online wallet , their security are both the same .

It is supposed to save your private keys offline which means it's somewhere out there in its memory. Honestly, I'm not going to spend a hundred dollar for a hardware wallet when I can just make my computer totally secure. To me, hardware wallets are for those who are insecure with their computer skills. Insecure enough to not think that their computers aren't free from virus. I really think that hardware wallets will be one of the focus of hackers since successfully finding out how to hack one would mean that you're able to hack all of them. But maybe I'm wrong. Maybe these hardware wallets costs so much because there's something special in its technology. But to me, writing down your seed or private keys on a paper is much safer than having a device. Paper wallet to me is the best way to go.

Plus, if someone finds your hardware wallet, they can just steal it. There might be a program in the future that hacks hardware wallets by connecting them to a computer, they might not be. But when someone gets your hardware wallet, they already gained $100 from the hardware wallet itself so it's still prone to getting stolen even when they can't steal what's inside.

Yes this point must be considered. You are right if someone steals our hardware wallet then we will not be able to recover our coins. So it is an important point for those who are using this wallet to keep it in such locker which is not reachable e.g. Bank lockers.