Hardware wallet is also risky. It could get stolen, confiscated, broken, destroyed, or simply lost. Without the hardware wallet, your money is gone, if I understand correctly. For a software wallet, you could memorize the password, mnemonic, and codes; and while that takes effort and has a chance of loss, it isn't in anyone else's hands but your own. If a hardware wallet gets stolen, it might not be your fault. If you forget the pass to your wallet, that one is totally on you (unless you have brain damage or die and don't have it backed up).
You are wrong and spreading misinformation.
There is no problem in losing your hardware wallet. Your funds are not really there.
There is also no problem if someone steals it because if the pin fails 3 times it will reset. Hardware wallets are the best way for newbies to store their bitcoin, even for advanced users as well.
When you set up a hardware wallet you note down the seed in a paper. With the seed you can recover your coins anywhere: electrum, other hardware wallet... it is 100% compatible with any other wallet.
Well it was both a statement and a question. "If I understand correctly". I wasn't spreading misinformation. I'm still learning. I crossed out that paragraph; please tell me if you lose your hardware wallet or it is destroyed, how you will ever get access to your crypto again? It's my understanding that the whole security of it is that it's linked to that ONE key. If you could simply replace it, then any criminal could get a similar one and steal it.
Please help me understand this.