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"they get a hold of your private keys, you lose everything." Hardware wallets solve this (Trezor, Keepkey, etc.) This makes Bitcoin more secure than cash. Most
by mrb 10y ago
"they get a hold of your private keys, you lose everything."
Hardware wallets solve this (Trezor, Keepkey, etc.) This makes Bitcoin more secure than cash. Most people accept the (imperfect) level of security of cash, so they would be OK with the higher level of security of hw wallets.
- rtpg 10y agoSerious question: if you're using a hardware wallet, can people accept payment from you without worrying about double spends?
- guard-of-terra 10y agoHow is it any different compared to software wallet?
- hueving 10y agoThey would be okay with higher security, but not higher risk of it breaking. Cash doesn't rely on advanced circuitry so I don't have to risk losing $50,000 because of some static electricity.
- mrb 10y agoHardware wallets can be backed up. You can even have 2 hardware wallets using the same cryptographic seed and both able to spend the same BTC. You won't lose any BTC if a wallet gets destroyed.