Are Hardware wallets better than Software wallets? Let's talk.
He everybody hope you are all good and enjoying your sunday. Today i am going to explain the difference between the software wallets and hardware wallets.
Software wallets like METAMASK are free to use while on the other side you will have to pay to buy a hardware wallets. But why people use hardware wallets instead of software. The big reason is that software wallets aren't safe enough. You use them inside your mobile or computer and hacker can access it through damaging your mobile phone or computer with virus. In present time with so much advance hacking softwares it's a very easy for them. It's okay if you're keeping small amount but for large amount you must buy a hardware wallet. So These software wallets can be hacked while the risk of it in hardware wallets is much more lesser than software wallets.
The reason is the key phrase that a software wallets gave to you can be accessible by hackers. On the other hand the key phrase in the hardware wallets is encrypted inside the hardware wallets and you have a pin code on it. Even if you out it in hacked computer you need to press the button on the hardware wallets to confirm the transition. This makes it almost unhackable wallets.
The other benefits are like sometime software wallets stops the withdrawal process. It happens a lot and if you need an urgent withdraw you have to wait. On the other hand you can easily withdraw from hardware wallet that you Carrey in your pocket.
There also some small disadvantage using hardware wallets like you can't do direct trade with these wallets. But in not all hardware wallets this problem came some hardware wallets came with their own apps like LEDGER wallets where you can use it was exchange and for shopping too. But as we say you are buying the hardware wallets for the huge money so it's a long term save. That's just a little disadvantage of using it but comparing it to its benefits it's like nothing.
