Cold Storage Is Not Enough

[Die_empty]

I guess I've talked about this before on one of my post, that the responsibility of a bitcoin user who owns a cold storage don't ends there. Most people often think that ones they are able to purchase a cold storage they are free from losses. But the focus shifts from accessing funds by hackers to protecting your keys from being lost as a result of carelessness. Most people don't back up their keys thinking that the cold storage is meant to do all that job for them. What they have forgotten is that we shouldn't rely on these devices as they have short life spans. They can develop electrical faults and if you haven't backed up your keys, you are most likely going to regret it..

It's like buying an armoured vehicle in an insecure location and relaxing that you are totally protected. These secured vehicles will not protect you if you keep doors or windows open during an attack. The safety of our wallets depends more on us than the device. It might be safer to use online wallets and apply the necessary precautions, than to own a hardware wallet without taking the right safety measures. Backing up your wallet is like having a spare key to a vault.  It's essential to have more than one option since nothing is certain.

[promise444c5]

If they use custodial wallets, they don't have any private key, and that means they don't control and own any bitcoin.

Some companies have tried to expand the definition of a self-custodial wallet, too. For example, their "multi-sig" wallet where the company holds 1 key, the user holds another, and then they send 1 key to a backup (which is controlled by the company itself). They argued this is better than relying on 1 backup or something.

Has to be ledger, seen some other services too but not as popular as ledger. Whatever argument is attached to that is non-valid..It might help some subscribers though but that doesn’t change the fact that it holds a wrong definition for self-custody.

As always, make sure to research and compare information. Don't rely on a single source, especially from companies who're trying to sell their products to you.

The problem is they  need to understand/know the right information before a research about something related will workout . Without that,  an individual would still be sold same lies if they don’t end up getting confused which one is actually true from the research.

[KiaKia]

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For example, if we connect our hardware wallet to a computer or laptop that has malware or viruses on its mobile or laptop. If we connect it to all these laptops or computers, we can lose all our holdings or bitcoins.

What?  How is this possible?  If what you are saying is true, hardware wallets are completely useless.

It is possible that Im missing some information, but since you brought this up, I would like if you could elaborate a bit.  Do you have any  examples or sources you can cite?

Any hardware wallet that still requires you to connect the device to a laptop for any reasons isn't good enough, you should be able to do transfer or update the device without plugging to any computer.

I am using keystone, to maintain this device airgapped idea you need to update using SD card, and I meant to keep it this way, but normally you have to give access to something before malicious attempts can be successful either by virus or malware or others.

I still don't believe that connect a hardware wallet to a infected PC will result into draining of the wallet balance, it's not enough to make it happen.

[SilverCryptoBullet]

I still don't believe that connect a hardware wallet to a infected PC will result into draining of the wallet balance, it's not enough to make it happen.

Hardware wallets are designed and programmed to avoid private key exposure directly to the Internet so that hackers can steal your private keys and access your coins. This means with hardware wallets, your wallets and your bitcoin funds won't be stolen even if you plug the wallets to infected devices.

Hardware wallets.

A hardware wallet is a device used solely for storing bitcoin.

These devices are not connected to the Internet, which means they're protected from the attacks that software wallets are vulnerable to.

A hardware wallet stores all of your private keys on the device. So when you connect the hardware wallet to a computer to make a transaction, all of the signing takes place on the device and your private keys are never exposed to the Internet.

But people need to know and choose good hardware wallet to buy and buy it with a proper way.
[LIST] Open Source Hardware Wallets.
[GUIDE] How to buy a Hardware Wallet the right way.