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.
