What a hardware wallet is and how it is different from a software wallet

While most individuals who own cryptocurrencies utilize centralized exchanges like Coinbase or Binance, there are ways to own your coins on a physical wallet. A hardware wallet holds your private keys away from the internet, this way you can interact with the blockchain without having to worry about the risk of malware or phishing. A hardware wallet can interact with most blockchains, and can be accessed at any time. Custodial services like Binance and Coinbase may allow you to own crypto, but they don't give you access to your private key. A hardware wallet is non-custodial and allows owners of crypto to feel secure knowing only they have possession over their private keys. If a centralized exchange like Binance were to be hacked (god forbid) anyone who had their money on it would be out of luck. Contrast this with the safety of mind that comes from owning a hardware wallet, and the choice is easy to make. While a hardware wallet like this might seem like an unnecessary hurdle, it is actually a precaution that everyone should take advantage of. As more enter the crypto space, it’s important they’re aware of the option of a hardware wallet, as crypto doesn’t optimize for security as much as traditional banks and exchanges do. It’s important to keep your money - and your private keys - safe, so a hardware wallet is definitely something to keep on your radar.