The author of Mastering Bitcoin, Andreas Antonopoulos, a well-known Bitcoin influencer, spoke about whether it is safe to store cryptocurrency in hardware wallets. He also elucidated on hardware wallet back-up and whether users should have additional layers of security.
According to the author, storing cryptocurrency on a hardware wallet is a “relatively” high-level of security. This was followed by the author speaking about the storage of the hardware wallet. Here, he quoted the example of a wallet with a PIN, wherein the keys are secure, but the device is vulnerable to physical attacks and a user needs to secure the location of the wallet. This was followed with Andreas speaking about the seed backups, the twenty-four characteristics, which also has to be protected by the user.
He considered the biggest risk as losing the seed, forgetting it and not making a back-up for the same. Furthermore, he spoke about how to prevent the risks. He said:
“Step one: Create another layer of…
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