Part 7/16:
Security of Cryptocurrencies and Wallets
Shifting focus to the security realm, the speaker examined the reputation of different cryptocurrency wallets, specifically critiquing the recently launched BC Vault hardware wallet. Through detailed analysis, the speaker identified multiple red flags:
Lack of comprehensive documentation
Use of non-standard seed phrase procedures
No open-source code or transparent security audits
Questionable backup methods, such as microSD cards and QR code printing
Endorsements from non-expert influencers rather than security authorities