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Understanding these distinctions is essential for making informed choices about managing cryptocurrency assets. Hardware wallets provide a high level of security while allowing interaction with the blockchain, but users should remain cautious about signing malicious contracts. Cold wallets offer maximum security for long-term storage by limiting exposure and interaction, but they lack the flexibility needed for active trading or complex web3 activities.
By knowing the differences and proper usage, users can better tailor their security strategies to balance convenience and safety.