Hi thanks for the interview. I understand the issue of self custody, what I don't understand is why to have a digital money and then store it on a hardware wallet, on a non digital hardware. it's a bit contradictory.
The hardware wallet gives you a secure place to store your keys that can be disconnected from the internet. A software wallet is more vulnerable to hacking. Note that the hardware is still digital, as it has firmware, a secure chip for storing the keys, etc.
You don't store the digital money on a hardware wallet, for example Bitcoin is always online and on-chain, the only thing that hardware wallets do is to allow to sign transactions from your wallet. Hope that makes sense now.
Hi thanks for the interview. I understand the issue of self custody, what I don't understand is why to have a digital money and then store it on a hardware wallet, on a non digital hardware. it's a bit contradictory.
The hardware wallet gives you a secure place to store your keys that can be disconnected from the internet. A software wallet is more vulnerable to hacking. Note that the hardware is still digital, as it has firmware, a secure chip for storing the keys, etc.
@@theaugur1373 the explanation to why a hardware wallet exist isn't solving the contradiction.
You don't store the digital money on a hardware wallet, for example Bitcoin is always online and on-chain, the only thing that hardware wallets do is to allow to sign transactions from your wallet. Hope that makes sense now.
@@bogdanmaslesa3427 thanks for the answer, though it doesn't solve the contradiction.