Perhaps a bit too easy to lose?
ha ha, yeah that is the only problem with Bitcoin/Crypto in general. Lose the key or device the key is stored on and you're screwed.
Although I think a ledger is pretty easy to secure. If you have millions $ of BTC then it can be put in a safety dpst box or safe. Other options are to buy a fire proof/water proof strong box and bury it somewhere. When you get a ledger and use it for the first time you create a seed phrase and that is actually what you need to keep safe. If someone steals the ledger, or you lose it, as long as you have the piece of paper with the seed phrase you can recover the crypto. So in truth it is important to keep that seed phrase stored on paper in a few secure locations.
Thank you rowan! So it looks like I order a device to get started. Do you recommend one? I doubt I'll be doing much trading, but ya never know.
I can only speak about the ledger nano X which I bought about a year ago. This is basically a hardware wallet that also has an app on your phone which shows how much crypto you have stored on the device.
This device has worked fine for me, and it is relatively easy to use. As I said before though, the most important thing to remember is that if you loose the seed phrase that is created when you first set up your bitcoin wallet you will loose the crypto. This is essentially what keeps the BTC (and other crypto if you store anything else on the device) safe and offline. It is basically a paper wallet connected to a device so that it's easier to transfer to and from exchanges.
See this video below which is the one I used to initially set up my BTC wallet on my ledger and transfer BTC to it. Hope all this helps 🙂
https://youtu.be/R0YWdw2AOCgTHIS IS GREAT!!!! Thanks!