Quote from: Abiky on Today at 01:01:40 PM

Quote from: invo on February 09, 2024, 07:19:44 PM

Purchasing a hardware wallet is a viable option for safeguarding your cryptocurrency, but it may not be feasible for new investors who prioritize earning profits from their initial investment. This may change if they have a substantial investment and surplus funds to allocate towards a hardware wallet.

Hardware wallets are available at an affordable price. For instance, you can get the Blockstream Jade for only $64.99. There's no excuse for leaving your Bitcoins unprotected. If you're in a very tight financial situation, you can simply make your own paper wallet and hide it from prying eyes. Self-custody of your coins is a must these days. Especially when centralized exchanges are a constant target of hacks. Some exchanges even went down the hill in an instant due to mismanagement of funds (FTX, Mt. Gox).

By maintaining custody of your coins (by holding the private key or seed), no one will ever be able to steal your BTC (assuming you follow the necessary security precautions). Hopefully, the number of hacks will decline as more people use non-custodial wallets and/or services. As long as Bitcoin stays decentralized, there should be nothing to worry about. Cheesy

Yeah Hardware wallet is more safer by overall I guess it only has one weakness, when you lose it Tongue

. People may be unwilling to spend more money on wallets instead they will choose a free wallet with a good reputation, If we never become a victim of a hacked exchange we never think that a Hardware wallet will be a priority. If we still want to store our funds in exchange at least we can use a few top exchanges to store our funds to prevent something like the FTX incident happen to us.