I am very sure that it's no longer news for us on how many individuals and organizations have fell victims to hackers and bankruptcy,most crypto wallet are connected to the internet via either a centralized or decentralized crypto exchnge.this has given a lot of hackers the opportunity to be able to steal or hack into peoples wallet why because they are connected to the internet,when hacker gets into your wallet you automatically loose your cryptos because you are left with nothing.
Apart from this, bankruptcy is another problem that has been rocking the face of the cryptocurrencys market recently especially the during this bear market,so many crypto organization went bankrupt .a good example is the terra Luna, many people that has investment with terra Luna lost their invest due to crash,they were a left with nothing but loss of investment,UST and three arrow are also some crypto organizations that went bankrupt,so imagine the number of people that have loss their investment with this crypto exchanges.
LEDGER OR COLD WALLET OFFERS A SOLUTION TO HACKS AND BANKRUPTCY.
The most common way people store their crypto is usually through online crypto wallet where you have an account with a particular crypto exchange,but with the way hacking and bankruptcy are becoming rampant it is clear that online wallet are really not too safe.but one solution to this is the use of legers or cold wallets.both are not connected to the internet so as result of this it saves you from being hacked and you have nothing to worry about when it comes to the safety of your crypto.we have had many news on how thousand of wallet were been compromised,the latest is that of Solana which took place few weeks ago.so with this compromise that means that all the people on Solana Blockchain that were compromise will loose their cryptos.
Now imagine that all those accounts been compromised are using ledger or cold wallet,they will have nothing to worry about,why ,because there is no way hackers can hack ledgers or cold wallet since they are not connected to the internet,I think with time people will get to realize that ledger or cold wallet saves alot and start using them more. This way your crypto is more protected.
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STOPThank you so much hivebuzz,the notification has been helpful,you are really doing a good job.thanks alot
You're welcome @brainstommer! Have a nice day 😊👍