Nowadays, most people really mainly use their mobile phones to install apps related about their finances. Apps such as digital banking, investment, trading, NFTs and the likes are now usually stored in a mobile device. This is because it is more convenient to have it stored in a portable device that you could take with you anywhere and anytime. This is really beneficial because you could access your accounts wherever and whenever you are. You could easily monitor the flow of your funds: deposit and withdrawal, in a snap of your fingers. However, this has its risks too.

Despite having the convenience as an advantage. Mobile phones being mainly used for your finances possess disadvantages too. Mobile devices could be easily stolen by someone. It could be misplaced and never be found again. And it could be broken in just a snap as well because of accidents and the likes. Hence, if you store all of the finances related things in your mobile device, you are also putting at risk the funds you worked hard for. This is why most people prefer to use an additional security aside from pin and pass codes of their phones to make their accounts and funds safer. Most people invest in hardware wallets that could give them the assurance they need in terms of securing their money. These hardware wallets protect the accounts from the hackers because every transaction that would be made would need an authorization and verification on the end of the user's hardware wallet. They have to confirm the transactions first before it push through which makes their accounts in different financial aspects safer compared to those people who don't have one. But this type of security also have its weaknesses of course. The user must still be the one responsible of his actions. If the user would not be careful enough and will be easily deceived by scammers, their funds would still be at risk (if they will give them the information they need such as email, password, and seedphrase).