You should use a secure wallet to store valuable cryptocurrencies. There are many wallets, but the most secure wallets are hardware wallets (offline) and software wallets (online). Each has its advantages. Sometimes people think that hardware wallets are not risky, but hardware wallets have their own risks. You may lose your hardware wallet or get damaged by impact. That's why you should always take care of your hardware wallet.
Hardware Wallet vs Software Wallet
- Thread starter Bango
- Start date
Well to me it is better to have both than to have just one but as for now I only have a software wallet which I make use of all the time but if I have the chance and time to create a hardware wallet then I will also make it but to me the best to use is software wallet which is easily understandable and user friendly.
Which hardware and software wallet is best depends on your needs, if you need daily and continuous crypto transactions you should use a software wallet, but if you are going to store crypto for the long term and in large quantities it is better to store it in a hardware wallet.
Of course the both kinds of wallet have their various advantages and disadvantages, one just have to be careful and constantly checking his or her assets in any kind of wallet,and always keep staying updated with the latest news.
It is true that the hardware and software wallet has their benefits and one should look at these benefits before choosing.
It is true that the convenience in using the hardware and the software wallet makes it very outstanding.
Not only are they profitable and fun, hardware and software wallets also have some drawbacks, so we have to be careful with them, so it's best not to store large amounts of crypto in hardware wallets.
It's great if you already use a hardware wallet to store your crypto, although in general people use hardware wallets for the long term not for day-to-day transactions, so don't often connect the hardware wallet with your device.
Trust wallet is a type of hot wallet or online wallet because it is always connected to the internet, Trust wallet is a safe and reliable wallet that can store lots of coins and tokens, you can also participate in staking coins so that it will generate passive income.
I definitely prefer hardware wallets, but not everyone can afford them or many prefer to use hot wallets or browser wallets too, it all depends on the user, but if you have important money in crypto, hardware wallets are better for security.
Hardware wallets and software wallets have different purposes, software wallets are very practical to use for daily transactions, especially if you are a businessman, and then you can transfer them to a hardware wallet for the long term.
Thanks for your reply. I'll try to learn more about it and and will soon try staking
In my country, hardware wallets are shamefully expensive. Maybe, the reason is due to importations (If I don't mistake, they come from USA or Europe, so there are custom duties). Hardware wallets are worth the purchase only if we reach our cryptocurrencies value of thousands (considering our FIAT currency). If not, a software wallet should be good enough, if we own discreet/good online security knowledge.
For information, you can compare hardware wallet prices in your country with online stores. (not a recommendation to buy) is it true that hardware wallets are more expensive. if it's only less than 10% different I consider it reasonable. In fact, hardware wallets are only intended for storing large amounts of crypto or worth more than $1000, and are only used for long-term crypto storage, not for day-to-day transactions. Currently there are many hot wallets that are good, reliable and safe, be it web wallets, browser extensions, mobile and desktop applications. You only need to choose, all hot wallets are free.
Did you expect that someone who keeps 1000 $ on Binance needs two or three wallets for storage like the split between Gate and Kucoin and then Binance one because more wallets mean more KYC and more head ache?
A few years ago, I received a warning from Coinbase when my crypto balance exceeded $1000, and I bought a hardware wallet, but until now I also keep a lot of crypto even if only in small amounts around $100 in several wallets like Atomic, Holytransaction etc., I also save crypto on several exchanges for trading. A hardware wallet is a necessity for long-term storage so you don't have to deposit and withdraw every day.