Decentralized Finance and the crypto space has brought so many exciting opportunities that we were only available to the rich in Traditional Finance. With the increasing adoption of Cryptocurrency also comes the increase of hackers entering the space looking to steal your gains.
Your risk of being compromised with the web3 or hot wallet are significantly greater than using a hardware or cold wallet.
Hot wallets which are so much easier to access with mobile devices and laptops but also the ideal targets for hackers. If your computer or smartphone gets hacked your funds are at risk.
Cold wallets are the most secure way to store your private keys only downside is that it's less convenient in terms of accessibility. But that's a small price to pay for security. They're usually a small hardware device in which you can store your private key.
My favorite hardware wallet is the Ledger Nano X. Protect your assets today.