Twitter user @uniswap12 advises against retail investors using hardware wallets, citing multiple fatal flaws

According to Twitter user @uniswap12, hardware wallets have several fatal flaws and are not recommended for retail investors, who should instead store their assets on major exchanges. Firstly, users may forget their passwords, and exceeding the maximum number of incorrect attempts can lead to the private key being wiped; for example, the Ledger hardware wallet resets after three incorrect attempts, while the Trezor does so after sixteen. Secondly, hardware wallets are prone to loss, similar to mobile phones. Thirdly, hardware wallets can become bricked due to damage or upgrade errors, with common scenarios including devices falling into water or being affected by fire. Finally, while hardware wallets are considered secure, there is still a risk of being hacked. @uniswap12 believes that hardware wallets are more suitable for institutional users with security guarantees, while individual users are safer storing assets on exchanges, where they can seek customer service assistance if stolen, and even apply pressure through social media for compensation.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.