Should you buy a hardware wallet? The real answer
A hardware wallet costs between โฌ50 and โฌ150. So the question is: is it really worth it?
Hereโs how I break it down:
If you have less than โฌ200 in crypto:
โ Staying on a reputable exchange is reasonable. The risk is low. No rush to invest in a hardware wallet.
If you have between โฌ200 and โฌ1,000 in crypto:
โ Nowโs the time to think about it. A โฌ70 hardware wallet to secure โฌ500 โ itโs worth it.
If you have more than โฌ1,000 in crypto:
โ Itโs essential. You wouldnโt leave โฌ1,000 in cash on a table in a public place.
The concrete benefits:
โ
Your cryptos survive the collapse of an exchange.
โ
No hacker can access it remotely.
โ
Youโre the sole owner โ no accounts to freeze.
๐ Exercise: calculate the total amount of your cryptos today. Which category do you fall into? Is your current security adequate for that amount?
Reply in the comments โ Iโm curious to see where you all stand. ๐
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