Managing cryptocurrency assets can be done in a custodial or non-custodial way. Those who opt for the latter often use a hardware wallet, which provides many benefits but also has a steep learning curve. Even then, the question remains: are these devices 100% secure? There are many good reasons why so many crypto users rely on hardware wallets to protect their assets. Unlike a software wallet, the hardware unit doesn’t connect to the internet directly. Instead, it often requires a computer or mobile device connection, introducing an extra security layer. Moreover, the private keys and seed phrases are only stored locally. That means no one can access them without physical access to the device and the necessary credentials to use funds. Although hardware wallets may seem a bit cumbersome initially, they also provide peace of mind. Users do not need to worry about hackers infiltrating their computer or mobile device and stealing their crypto assets in a software wallet. Instead, wallet apps can interface with the hardware unit but not access funds directly. Spending money requires confirmation on the hardware wallet and may require additional two-factor authentication. There is a small upfront cost when buying a hardware wallet. Numerous manufacturers sell these products at affordable prices. A Ledger device can be had starting at 78 euros, whereas the Satochip costs 25 euros. There are also units by Trezor (starting at 69 euros) and SafePal, which has never been hacked or involved in any hack-related claims, priced at $50.

Full story : Can hardware wallets be hacked?