Today, an uninformed and biased YouTuber made a video declaring that hardware wallets are scams. I beg to differ. Hardware wallets are one of the most secure ways to keep your cryptocurrency safe. He stated that you can use a USB drive to hold your private keys and that other YouTubers are just promoting hardware wallets, such as the Ledger, only to receive the commission pay. What he doesn't understand is that using a USB drive to hold onto your private keys isn't secure at all. The USB drive is just as vulnerable to viruses and malware attacks as a computer. Plus, when you use a USB drive, you will also need to back up your private key on yet another unsecured drive or write it down or print it out. This leaves yourself even more vulnerable to theft, loss, and attacks.
I promote Ledger because it is the hardware wallet that I use and is the one that I am most familiar with. It is nice receiving a kick back from someone purchasing a Ledger under my referral link, but the main reason I promote a hardware wallet is because I give a shit about the people in our community and their investments. We are all in this together and spreading the knowledge is key to everyone's success.
He also suggests that USB ports will become obsolete. From what I can tell, USBs are becoming supported more and more with every new piece of technology that comes out. It is one of the most used, go to things that are being implemented in today's new technology. USBs are being upgraded more and more, and will only continue to be improved upon. Even if USBs were to be phased out, it would be a gradual transition and there would be adapters to accommodate and implement them into future technology.
In the video, he also said that there is a chance that the Chrome app for Ledger could no longer be supported. If this were to happen, you would still have access to your coins via another wallet with your seed key. If the company were to go out of business, the same applies. I don't see either of these situations happening in the near future, but if they were to happen, there are solutions.
I tell people that it is important to secure your wealth with a hardware wallet, and I don't care which one you use. It could be a Ledger, Keep Key, Trezor, or an old cell phone. I don't care which you use, just secure your coins. I say this because I give a shit about the like minded people in the crypto community. This person has a lot of followers both newbies and experienced people. It is important that this person do his research before spreading misleading information. Keep your coins safe.
Ledger Hardware Wallet: https://www.ledgerwallet.com/r/b877
