Topic: Risk only what you can afford to lose (Read 577 times)

The bottom line is, we all need to be ready for the worst-case scenario that could happen anytime. And this isn't just about crypto; it applies in general. Any plan, if you have contingencies for both the worst and best situations, I believe it will still run smoothly. It won't be as bad as we think.

If you're holding crypto, whether it's in a non-custodial wallet or a custodian wallet, you still have to prepare for the worst risk (if it happen suddenly) losing your assets. None of us knows how far hackers can breach our defenses... there are no trial sessions in the hacking world. If you fall victim to a hack, you'll bear the loss of the assets taken from you.

Efforts to secure assets are a must, and as for the ultimate outcome, whether issues will arise in the future or not, no one can guarantee.

We do get the idea of putting our seed phrases safe but there are just instances wherein in some instances even if you avoid the don'ts you'd be still a victim by chance. Point here is to be more vigilant of your wallets. On the other hand, there are many users here in this industry for years who haven't encountered any problem with such concern. I too myself, fortunately never experienced problems with wallet private keys. So maybe, being preventive could guarantee securitu over your funds. FOMOs just take place which causes panic to some users. At the end of the day, isolated cases of hacking related stories won't give us assurance of the details on which should be specifically avoided unless it happened to us on the actual.

That is why there is not method that is absolutely perfect to secure our coins, if that was the case then every single one of us will be using that method already, we need need to take into account a lot of factors when deciding which solution is the best for us, and while stamping our seed words on a piece of metal do secure it against many dangers, it is also true that it makes our seed words more susceptible to be thought as important to any thief that may enter our house, and if they know anything about this market they could easily steal our coins.

You've raised some crucial points about the security aspects of airgapped hardware wallets, highlighting that while they are one of the safer options, they're not infallible. Let's delve into each of your points to add some more depth:

Cord Connection: Indeed, any physical connection, like a USB cord, introduces a potential vulnerability. Data transfer, even in a supposedly secure environment, can be a weak point. It's essential to use trusted and verified cables and ensure your computer's security when connecting.

SD Cards: You're right about the vulnerabilities of SD cards. They can be compromised and are susceptible to physical wear and tear. The best practice is, as you mentioned, using a new SD card solely for wallet updates and keeping it in a secure location. Also, downloading updates only from the official source minimizes risks.

QR Codes: The inability to read QR codes directly is indeed a limitation. It's crucial to generate or scan QR codes from trusted sources only. One mitigation strategy could be using a secondary device to verify the content of a QR code, although this might not be feasible for everyone.

Reliance on Company Updates: This is perhaps the most significant concern. Firmware updates are necessary for security, but they also present a risk if a company's systems are compromised. Diversifying the types of wallets used and regularly monitoring news and updates from the wallet provider can help mitigate this risk.

Your conclusion about there being no absolute guarantee in crypto security is spot-on. It's about managing and minimizing risks, not eliminating them. Educating oneself, staying updated with security practices, and being cautious with updates and data transfers are key. Your advice on using SD cards and being cautious with QR codes is particularly valuable.

As for updates from companies, apart from praying, actively following their security protocols and community feedback can offer some reassurance. Many wallet companies have robust security measures and are quick to respond to vulnerabilities.

Your emphasis on understanding the inherent risks in crypto and only investing what one can afford to lose is sage advice. In the world of digital currencies, staying informed and vigilant is the best defense. Happy holidays to you too, and stay safe in your crypto endeavors!

As far as storing things in a safe lace goes, getting to stamp your seed phrase on metals and all that, it doesn’t really seem like the best of ideas to security for me. Yeah, it might ensure that it never gets lost, washed up, have some wear and tear taking it’s strolls on it but, you might end up presenting it’s importance to just anyone that could come across it at first glance. That’s in the event of any invading of your safe spot of course.

I think some of the ideas to making something relatively safe is by making it as common as it would seem to anyone. In a way, it could be something that would be less attractive and can be handled anyone by someone who wouldn’t even know the value attached to that which is before them on in their possession.
This doesn’t mean you don’t keep it in a safe place, of course you would put it away in some place safe but, I don’t think you have to make it look so important.

No offense but I’m trying to connect your response to my actual message, and wondering what you are trying to communicate. Yes, crypto investments are risky and one is prone to lose money, but i think the angle of the conversation here is on keeping your Bitcoin safe, and what could go wrong too irrespective of the procedure and process you take to backup your wallet info or keep it discreet.

Your security is only as strong as your weakest point of failure but if you are taking all of the necessary steps, you can protect your stack as well as it is possible to protect any physical asset here on earth.

If you are generating your own seed phrases, stamping into metal, and storing it somewhere safe, you have the highest level of security that an average person can reasonably have.

When a hacker really knows his stuff and understands how to target your machine and your wallet, setting up a little bit of code that initiates procedure calls to find out when your wallet comes online should not be a problem at all. But I think it might still not be worth the effort as hackers could probably find other addresses that are more or less guaranteed online frequently a million times easier. A lot of people share a lot of stuff, including PKs and their locations. There is probably no good incentive to use tech to target you, unless you now let us know that the wallet contains 100,000 BTC.  

I don't know why people are fixated on the thought of using only one wallet for everything. Hardware wallet, yes that's the best thing and that's why it should be used for storing Bitcoin for the long run. Keep it safe and don't connect it to anything until you are happy with your investment and you want to convert it into profit. So there will be nothing to worry about with that particular wallet. But we usually use other things too. Transferring crypto from exchanges to private wallet etc. for that I think it is somewhat good to use software wallets. It doesn't cost anything and you can easily create another wallet at any given time.
If you see any suspicious activity with your wallet, you can simply create another one and transfer your coins to that wallet. You can't afford hardware wallets? Just buy a cheap PC, install a clean OS then install the wallet you want for this and before doing everything make sure you make that device air gapped.

Let's not be too paranoid. You can set up devices in such way that they read a qr code and display what was read without taking any action. This means that you can get malicious code, but will have to confirm it on the device for that code to execute. If you decide to scan a code with an address and get a bunch of strange code instead, just do nothing, cancel the whole process and flag this QR as scam attempt.
I use an offline wallet that isn't truly airgapped because it goes online from time to time when I transact, but for an attacker to be able to target me they'd have to know the IP of that machine and be there waiting when it comes online, which is literally impossible since last time I used it was months ago.

that is true, even if we say we are already being meticulous with our things, we can't guarantee that we won't encounter any hiccup along the way. but to avoid potential risks, we should always check our wallet and other things surrounding it.

we can avoid simple mistakes or troubles by observing the following practices :
- checking if the hardware wallet is free from any fracture and other damages
- keep up to date with the softwares you are using, and how they are being updated
- avoid phishing links and other malware sources
- don't disclose your activity to the public by not posting to your any social media channels (as much as possible being discreet with your crypto dealings so you won't be the target of these scammers)
- read news and other happenings surrounding this market, so you can easily discard coins that you think is in danger of exiting the market

Perhaps, we're just human and often commit mistakes even if we are too careful. There is no need to be perfect here but what is the most important is that we did the right thing.

Crypto investment is quite risky and we know that already which is why we don't need to rush but rather think twice before investing because there is no turning back. That is why we have to assess ourselves if we can take the risk as well and of course, the willingness we have in this way, we can't blame anyone and never feel regrets when we lose our money.

Well, a happy holiday everyone, and on this note, I still will like to let us all know that, we are still our own security, which ever way we try to look at it, we are still our own security.

So, if you are using a hardware wallet, the company does have the responsibility of making sure that all security features and updates are made available to their users, and we the users also have to responsibility of applying those security features, and at the same time, scanning every security or software updates coming from the company to make sure they are free from error codes, malicious codes and so on, this is a knowledge we owe ourselves for our own security.

In the end though, I will say that, the best strategy still is to not depend on just one hardware wallet for all your crypto transactions and so one, have multiple of it, and set one or two aside as the wallet that hold your long term crypto investments, and this one(s) should only connect to the internet not more than once or twice in a year if need be, else, just keep it off the internet and only connect when you are ready to move the coins and sell it.

You'll probably get lost if you dont have a map (a plan) and a flashlight (knowledge). Truth be told, buying isnt just a way to get rich quick; its a test of your strategy, patience, and knowledge. For those who arent rich, every deal is a big choice. Rich people may have more freedom to try new things and get back on their feet after loses, but for middle-class families, the stakes are very high. Losses can make them not want to trade again, which makes them too careful.

This isnt a sad story, though. A level playing field can be reached through education and careful planning. Strategies based on facts can work even if you dont have a lot of money. Remember this important fact: investing can be profitable, but its not a surefire way to get rich. It takes understanding, strategy, and smart money management, especially for people who dont have a lot of money. Its important to be careful, keep learning, and not depend on trading alone for your financial protection.

Not sure what your title has to do with the actual post. Was expecting you to talk about risking money that you won't need in the future. But it looks more like you are talking about how hardware wallets can be risky in different way. Fixing the title would be better. As for the risk associated with the hardware ware wallets, we can't deny any of those, but it is still better than using any software wallets. True, all hardwares might eventually fail, but modern technologies have extended the hardware lifecycles and we can use it for decades without any issue. Just make sure to make multiple backed after few years to be on the safer side. And you also seem to be worried about some "malicious" software update that might compromise your wallet. As far as I know most of the hardware wallets uses open source software and firmwares. So if something fishy is going on, people will know.

I agree with you, about nothing that can be guaranteed to be 100% safe when storing bitcoins. Because basically all methods have loopholes or weaknesses. So there is no absolute perfection. However, all of this is just minimizing it, and this must be done. So at least we must have the desire or effort to be able to secure the bitcoin assets we have as well as possible. If we have tried our best, at least we will feel calmer.

People are considering trading as just enhancing mechanism but they forget about its risk therefore if use their knowledge and know which type of strategy to be use according to situations then may be they find trading as quick rich mechanism but if their concept is only sticked to earning without knowing anything then it will be a worse decision for them to participate in trading with little or no experience.

Individuals are not wealthy so if they trade according to strategies then they can win large sum to make their situation better but if they fails then it is their financial weakness towards trading. Trading requires knowledge but without money you cannot use your precious learning for trading. Those who are rich people find more chances to earn but middle class families will either stop trading if they loss once so they will be very conscious about their money.

How to protect any coin is a personal opinion and thought, but the safe method should be communicated to others as well as yourself. You keep it on an exchange or in a personal wallet. It is up to you whether you store your bitcoins in a hard wallet or keep them in a soft wallet. People who prefer soft wallets instead of hard wallets are definitely taking more risk.

Cryptocurrencies have risks, but in softwallets.We we always have more risks and often hackers easily target softwallets.We cannot say that only hard wallet is not 100 % safe, but any business or investment, even a bank, is not 100 % safe,but still we should use all our efforts to protect our bitcoins or assets. Therefore, if people do not know, it is important to inform them about good security systems and their usage.

Of course it must be correct and must also be understood well. A reserve budget must be prepared regardless of how much you have invested - and of course the reserve budget is intended so that you do not damage your ongoing investment plans.

Sometimes some investors forget that they have to set aside a few percent of their budget for a reserve budget - some may not know what the purpose is, but the best investors are very wise to set aside a few percent for a reserve budget.

The stages for making an investment should be studied – it includes planning, investment objectives and management. So it's true - investing without basic knowledge is a waste of time and money.

First of all, your thread subject doesn't quite introduce your message, I was expecting to see something else that related to the subject.

But then again, choosing the safest way to store your Bitcoin is a personal decision, depends on different people's preferences and of course certain factors may also contribute. For you the safest way to store your Bitcoin is via a Hardware wallet, but there are also people out there who believe using a highly secured software wallet is the best and they have their reasons why they think so. Does it mean that they're wrong? Or does it mean they're outdated? No. Everyone sticks to what they believe is best for them and works more effective for them.

But whatever storage method you ever decide to choose, we should have in mind that it's not 100% safe and anything can go wrong at anytime if you're not careful enough.

Sadly newbies tend to listen to crypto influencers. And all they speak about is that crypto will make them rich and all that stuff. I think it's the worst thing about crypto right now. Then goes memecoins.

Their is no guarantee that cryptocurrency can make people to be rich, and this is the mistake most beginners usually fall into. Beginners are so quick in making money, so they fail to have time to learn and have understanding about crypto. Crypto is very risky and the market is very volatile that is why when one without understanding of crypto goes into they end up losing everything they have because because their is no two ways about crypto to trade or invest In with shallow understanding.

It is indeed very important to really understand well the investments we make so that what we invest can get satisfactory results and we can enjoy it, and also in making investments we must really use the money we have and not need it for other needs so that It doesn't interfere with the investment we make while it's underway because if we don't prepare it then we have to take it before the investment we make makes a profit.

In making an investment, we must make the right decision in investing because if we make the wrong decision, this will have a bad impact on the investment we make.

And if an unexpected disaster occurs, like a flood or a tree falling on your diary and, coincidentally, damaging the paper you used to print the private key or seed phrase... and you end up losing it all. Going back to the commonly heard phrase, "nothing is 100% secure."

It's better to prepare a backup for storing the private key... there are many ways to do it. You can store it online after encrypting it first. Or you can also write it on a disaster resistant object, so it can last even longer in your secret box that you can pass on in the future. There are still many ways to secure our seed and key.

To keep your Bitcoin safe, use hardware wallets for cold storage, enable two-factor authentication on exchanges, regularly update software, and keep private keys offline. Consider using reputable wallets and staying informed about security best practices.

Absolutely true. No matter how one tries to be perfect, there’s still always flaws. And this applies everywhere. Even the best wallet with the most expensive price can even have an error that isn’t related to hackers and you lose all your money. I generallly think that for wallet, it is based on how you manage yours. If you create a normal wallet address in trust wallet for example, you’re safe unless you do some connection to your wallet that compromises your funds or carelessly gave the private keys/ phrase away somewhere, it’s not like it is magically prone to getting hacked.

There is no 100% security even in technical terms because every now and then, an exploit is created to breach such security.  Aside from that personal negligence is one great factor why security degrades.  We all know that a fix comes only after an exploit, and an exploit is done when there are security lapses.

Even internet security providers cannot claim 100% security because there is always a malicious file somewhere on the internet that is lurking to hack or hijack our system.

I highly agree that since there is no perfect security we should try to get close as much as possible.  Like applying multiple layers of security to our pc system where we insert our hardware wallet and having the back up file encrypted with a very good password so that hackers will have difficulty in decoding them.

Everyone should need to learn many things so that their investments produce returns - this is done so that their efforts to make money are not in vain. Of course - only invest an amount you can afford to lose, that is one way to be a responsible investor. It is a difficult thing to accept if an investor has to lose all his money - so learning to earn while being a responsible investor is best instead of just resigning himself to what will happen.

Definitely agree into this point, taking up risks isnt really just only pertaining about money but also in other typical things like decision making or similar scenarios on which it is really just that involving those possibilities of those kind of outcomes basing up on the things that you had made out but since we are really talking about investment then it would really be that always a primary rule that we should really be just that investing on the money that we can afford to lose. Everything should really be in moderation and in control because we know that there would really be no guarantees when it comes to investment.
Make yourself prepared for the risks involved and if you arent that something that could be able to bare on then it would really be that your choice on what you should gonna do.
Its impossible that we cant really be able to assess things basing up on what we are really that seeing or experiencing.

There is no guarantee on anything in this life, not even our lives are guaranteed, we can sleep and fail to wake up the next day, but I pray it will never be our potion.

This is why sometimes going extra miles to invest your money is not worth it, life do end when we don't expect it, and anything can also happen too, take risks when you can but don't go extra miles for anything.

To invest conveniently you need to start making good amount of money, this will make investment easier for you, still there is a risk of losing everything but it's better than not taking risks at all because no risk no reward.

due to the pandemic, we were all forced to sign in wherever we go as to make contact tracing easier i think this has made a lot of people more vulnerable putting out your contact information out there is a bait for scammers and hackers not only that but since then people in my country has been receiving so much spams

Yup, I know people that have been telling that they like doing these especially those products that has them. While with such products it can be genuine and safe because they've got physical entities. But you'll never know here this curiosity or practice will bring you. Much better to just stop doing so since it's not mandatory at all.

IMO, if you're going to scan QRs and you want to send it to someone. The best thing to do this is to do it face to face, when you can actually see that the QR code generate came from the actual wallet of the receiver.

Can you guarantee your life? So how can you guarantee cryptocurrency?  Business, job, other invest, crypto invest these are many risks nothing can be guaranteed. The safety of everything depends on how you keep them safe. So in every field where financial matters are involved, you should invest according to your ability so that you can keep yourself in control if you lose them. And later you have enough backup to invest elsewhere. And using them you can later recover your losses and manage your future with profits

I don't think that anyone that understand security on his wallet, will use his wallet that has his bitcoin to play with by scanning any how QR code because the only time that a QR code is to be scanned is when you want to transfer your bitcoin to another wallet address, this is when you are to scan, so I don't see why someone will use his bitcoin wallet to start scanning anything online.

The hardware wallet is safe but the safety of your bitcoin lies in your hands, if you take precautions to keep your wallet safe, your hardware wallet will be safe but if you lose guard your hardware wallet, then you wallet will be compromise.

Holders will take all reasonable guidelines to ensure the security of their wallet and their assets, and from the limited information I have seen, many people discuss how airgapped hardware wallets are not completely immune to hackers, that there will always be a connection, and that data transfers using cords or SD cards leave them vulnerable to connections. The adage "invest what you can afford" is also observed, as many people enter the cryptocurrency space without first learning how to safely store their assets or even purchase items they cannot can handle. When it comes to security.

Since the halving of Bitcoin is almost imminent, hackers and scammers will be pursuing this opportunity to steal from people. Therefore, be sure to properly save your seed phrase and secure any essential information before losing everything to the air. Some people will lose their assets as a result of their negligence.

Well, we can't blame people for having trust issues, especially in these kinds of stuff since you can even make your own QR code online, and then paste it as payment to scam people. Any kind of transactions that can be done online are most likely prone to scams and hacks as people are knowledgeable enough to code something that can access your private data as well as your funds. Sometimes your knowledge of this kind of thing is already behind to new kinds of techniques for scamming, just imagine the first person who got scammed with the use of a QR code, for sure they are not aware of that kind of modus, so from that experience he would prefer to use cash, if you let know people this story they would prefer to use cash. We would never know if one day someone could access your wallets and Bitcoin to whatever thing you have clicked online, so every action would literally need caution.

I don't get the appeal with Airgapped crypto wallets and it might just be because I don't really care for too much security and decentralization but at the same time, each and everyone of us here moves our money every once in a while, sometimes to a different network especially if a detrimental issue comes around. The problem with airgapped crypto is that, as soon as you give it a sliver of access to the internet it's already moot, and all that work you put in to secure your wallet will be put to waste.

I say secure your wallet as much as possible, and I'm not saying not to airgap your wallet, but at the same time if you are someone who moves their assets every now and again, I say you look into other options.

You are on a forum about Bitcoin and you advise to pay only in cash, but what about Bitcoin?

In fact, there are a lot of tricks of scammers, that user falls for every day, so caution will definitely not be superfluous. If we decide to invest in Bitcoin, we must understand that the responsibility for its safety lies only with us, we are our own bank and if something happens to our coins, we cannot change anything, everything depends only on our knowledge and decisions.

There is nothing which is 100% safe. But you should add something more in you points which can make you more secure.

When you connect the hardware wallet to your computer data can still send. That why it is important to make sure your computer is secure and doesn't have any viruses or malware.

Using an SD card to update your hardware wallet can be risky. It is important to be careful and only use a new SD card that you only use for updating your hardware wallet. Do not use it for anything else to reduce this will make you more secure.

QR codes can be hard to read and understand. It's important to aware when scanning QR codes especially one you find online. Only scan QR codes from those sources which you trust like when you are making a payment to another crypto wallet or selling your BTC on a  exchange.

Depending on the company for software updates mean you are rely on them. It is important to choose a hardware wallet provider that is trusted and regularly updates their software for security.

This is actually a good tip for those who want to hold their bitcoins for the long term because you cannot afford to lose it when the price is currently rising like what we are witnessing today. Other people fail to understand the importance of these instructions and often jeopardize their chance to safely secure their bitcoins. Along with buying some bitcoins, you also need such knowledge to prevent hackers from infiltrating your crypto wallet whichever it is and also it could be the way to preserve your bitcoins until the bull runs come in the future or even next year after the bitcoin halvings.

When I started here in the Bitcoin industry, it wasn't really easy to learn, and I learned it honestly. That's why, no matter what cryptocurrency other than Bitcoin, every investor should know what is called risk and what they can't afford to lose.

Because if they don't understand this, it's only guaranteed that the capital investment they will use in cryptocurrencies will be wasted when they make a mistake in choosing these assets that they think can provide income.

The safest cryptocurrency wallet is an air-gapped hardware wallet, but its drawback is that it requires technical expertise to use, making it unsuitable for novices looking for a simple wallet that isn't too advanced for them.

Hardware wallets are protected from online attacks when they are not connected to an internet-connected computer, however even though they are the safest wallet, they can still be physically attacked. One way that hardware wallets can be compromised is if someone receives a phoney hardware wallet with flaws that allow hackers to access your wallet and private key.


There are some measures to be taken to protect air gapped hardware wallet from attacks else it can get compromise. Air gapped Hardware wallets are designed for offline purposes and are not meant to be connected to an online computer. Connecting to an online computer/network is so risky that it is even advised to always use a phone USB charger to power it up and not use an online USB connection to power it up so it doesn’t get exposed.


This is a major concern as well since it is very possible to receive a fake hardware wallet or receive a wallet that contains malware from a wrong company Despite being the safest wallet option we still need to put into consideration some security measures so we don’t risk losing our assets or private keys.

Cryptocurrency in general is very risky because we make use of wallets that are being designed and developed by other people and the majority of us lack knowledge about programming and software development but we still trust and use wallets designed by others. There is no guarantee in crypto but it is always worth the risk.

I am not scared of everything you write up about hardware wallet safety but there is one that I think is a big problem, that's software update, I wish hardware wallet don't need them, but I also believe that its one of the ways to make the wallet security gets stronger, after thinking about it all I still believe that paper wallet is the best, there is no wallet update needed and it's completely offline, in this case paper wallet beats hardware wallet.

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But I still trust Air-gapped wallets because they don't need the internet to make a transaction, the only way hackers can get people is to have access to a software update and make people download and install on the hardware somehow, that will be hard to do but people are still stupid anyway, they can get confused on way or another.

Be careful of hardware wallet apps too, I believe that hackers can create a fake one and make it available on play store or other online app stores, you need the app from the official website, never download apps from any online app stores.

Correct. Finally someone is getting it. Nothing is 100% safe and we need to make our coins safe ourselves by getting the necessary information needed.

When I talked about the exchanges I use for trading and investing Bitget and Binance particularly what I checked are the Reserve ratio and protection fund to guarantee my fund safety

The advice not to scan QR codes found online is wise. I myself am also very careful in this regard because threats can come at any time from unknown QR codes. The best solution is that I only pay cash although other options are also available using the QR code payment menu.

Downloading the software from official site or google play etc aren't always 100% safe, you need to verify the signature.

When you want to print your private key/seed phrase, you need to know if printers might store your private key/seed phrase. Similar to converting your private key/seedphrase, you're need to use tools and they might compromise your wallet.

Uninstalling the wallet from your phone aren't necessary means your cell phone completely delete every data about the wallet.

So it's not only me right? There are others that just like scanning QR codes just to see what's behind it. 
That has been one thing I liked doing in the past, don't know how I managed to stop doing it, but I still get attracted (maybe "fascinated" is the word) by QR codes.


I was leaning towards scanning codes when I found out (thanks to this forum) that there are malicious software that can change the address you copied to send Bitcoin to and make it look very similar. Somehow I also found out about the risk of QR codes so I decided to stick to the address but take more time to verify the address.

Indeed what we have to , because the risk is unstoppable in terms of online using at some time or another we  will taste this to learn and to lose.

this is the perfect solution actually and expect no Guarantee 100% , just do what you can to make it safe.
Never that I use QR code , instead I will choose sending directly to the addresses or manually typing and need to check multiple times at least I maintain my safeties .

[Guide] Secure air-gapped crypto wallet storage method

If you can not have an air-gap computer, you can use either cold storage or multisig wallet that will be more secured than a single signature hot wallet.

Creating a multisig wallet in Electrum
Creating a cold storage wallet in Electrum
Old phone as cold storage?

Nothing is 100% safe in life and practice so you must store your bitcoin on different devices, in multiple wallets. In case you lose one of your wallets or one of them is compromised, you will not lose all your bitcoins.

I tend to agree with this, through knowledge and skills, this will be attained.
Technically, I often hear people who have been scammed as their cold wallets, most of them successfully store their coins safely because they know how to minimize the risk of keeping their assets in the virtual world.

But yes, there's no 100% safe in crypto space.
Everything valuable can be hackable even online or offline, the best thing you can do is minimize the risk.

Hardware wallets are not as safe as the manufacturers would like for use to think and one of the issues is that I think manufacturers of these devices have a hand in  over complicating this issue. I have to repeat this that all we want is a device that stores our keys cryptographically and that no 3rd party apps or the manufacturer themselves can have access to our keys. If the manufacturer goes beyond these basic specs then, in my opinion they are not providing the secure service we demand.

It is certainly true but atleast using something like hardware wallets or anything that will increase the security even though it isn't 100% safe we want it to. I guess that the advice that is given is quite incomplete since many people did say that if you have money to spend or can afford to buy then it is recommended to do so since it is secured (you know I won't say it is 100% safe) but they didn't include that it isn't 100% safe. Honestly, I also did tell post about it when someone created a thread about wanting a wallet that is safe, legit and secured.

Those traders who have money but can't have some knowledge about the risk management, as it is also the part of risk management in trading. Knowledge about the risk management is also important. I have seen those users who are not going to manage well but they have their own strategies through well in their last some month which they made from the previous losses they have ever made.

And now they are doing  really well by investing and earning from the same coins in which they made loss.

That is how it works, because if there was a way to make your coins 100% secure then that would mean that not even you, their owner, will be able to access them, but since this is undesirable for obvious reasons then we need to have a way to be able to get to our coins, a method that could be used by an adversary to get to your coins as well, so this idea that we can somehow protect our coins from any eventuality is mistaken, and we have to get by with imperfect methods that secure our coins to a level we can be satisfied with.

100% agree

Any time possible to phishing or malicious attacks on any wallet on your using device, I see many people face the problem.

1. download the app.
2. create the wallet.
3. save your wallet address.
4. save private key/seed. (on your dairy or print it.)
5. possible to convert QR on key/seed. (then print)
6. When you run out of needs. Then uninstall the wallet app.

*In this case, even if your device is damaged/phishing/malicious attacks, your money will remain intact.

These are my personal opinions, I have read some such blogs and watched some videos, which now I can't remember properly.

This may be a good way of saving your Bitcoin to you but personally I think it's complicated and hectic and in my own opinion complications has its own risk.
But you must understand it's best to do what you understand and what works for you. I am using electrum and I have an online and offline wallet. My online wallet is for view only and transactions are done by broadcasting the offline transaction on the online wallet. It's safe, easy and very effective because it's hard to penetrate a wallet that is offline.

You can guide yourself and understand more about electrum cold storage by checking out this
https://electrum.readthedocs.io/en/latest/coldstorage.html

Yeah, you got it! Nothing in this life is a guaranteed slam dunk, not even those fancy hardware wallets. Every option out there has its own set of risks and things to think about. The best we can do is try our best to keep our money safe, even if it's never gonna be 100% secure. It's kinda like building a fortress - you can make it super tough, but there's always the possibility of someone finding a way in.

It's not just crypto either, the same goes for everything we own. Even stuff like cash, gold, or even that house you just bought - they all come with their own risks. Cash can get lost or snatched, gold can get swiped or lose its value, and that house? Well, it could get hit by a hurricane or just plummet in price.

So, really, "safe" is just a way of saying "not totally screwed." What's safe in one situation might not be safe in another. It's all about understanding the risks and doing what you can to protect yourself.

As they say, there's no perfect system but a continuous development is a must to maintain its safety and security. In fairness to these updates that we're getting with the hardware wallet companies, not all of them are bad at all. The obvious is there with a certain brand but still, if we're going to survey what type of wallet is the trusted one, many are still saying about hardware wallets.

The curious ones should just stop scanning all of the QR codes that they see. 
I still prefer to send and receive Bitcoins through giving the address than giving and asking for an address' QR code.

In a proper airgapped wallet you should not be scanning any QR codes not related to a transaction detail, when switching from a watch only to the wallet for signing the transaction. You should not even be sending out from the wallet cause it should be a cold wallet.

100% security exists technically, but is difficult to attain, but we should try to get as close as possible.

I liked your suggestions but are they not obvious like in airgapped wallets you dedicate the device to either its wallet or a computer for wallet purposes and do not use it for personal uses. While in your suggestions you said, we should avoid SD cards to connect them to another device and should not scan QR codes from the hardware wallet (which are air-gapped). Don't you think using an SD card for other purposes while it should be dedicated to your air-gapped device will make your device not an air-gapped one?

This means your air-gapped device is not air-gapped if connected with the outside world, directly or indirectly. Never connect it to the outside world using an SD card, QR codes, or data cables, dedicate the whole setup for wallet activities and never open or update this wallet frequently, and talk about the updated files that you receive from the company, only prefer that company that has open source software like electrum or any other. Then you can also verify the authenticity of that update released by the company.

I guess that software wallet in linux VM without internet (only when sending) is still and option. If you use it as cold wallet you may not send anytinhg in years

This is the most realistic assertions herein, the truth is, whether hardware wallets or airgapped wallets, in as much as it has a mode of transfering files or documents, being in online or offline, it can not be hundred percent safe. And the truth is, there's nothing like having something that is 100% safe. Not in real life, not in human inventories. There can always be breach to information when you try to transfer something out or into the device, the only truth about it is that, the more you try to stay away from unnecessary exposure of the secret files from online connection, the better it is safe and secure.

For instance, even your paper can not be safe. Mind you, you got the private key somewhere and from that moment which you acquired your private key, it becomes more exposed and vulnerable to attacks or hacks. However, being extremely careful and learning to improve on your security system will help a lot into security your private wallets. As for risking only what you can afford, I don't think it's always the case because as a human being, the nature is that we need to store our assets for so many reasons a few which includes theft, spending and others. It is because of this reason that we all store our assets. So you can not run away from storing your assets, but always work towards Ha mb protecting them.

I think it’s actually a bad idea of just checking the funds on your address from the airgapped device it is stored on either hardware wallet or a PC/mobile device, you can actually do this by setting up a watch only wallet on another device to track transactions on an address.

We can continuously be warning of a clipboard malware or others like QR code or SD card/USB but is not hard to use just some seconds to check to the address on the transaction details before progressing to send. As for the drives like SD card/USB use it only for the purpose of transferring transaction data only and not for storage, Also be cautious of the device holding the watch only wallet it can also have malware that can affect the USB and that’s why the use of QR code is actually much better although it doesn’t eliminate the problem of malware fully.

QR code malware are mostly gotten from the software where it is created or the device use yo scan it, so a proper QR code generated not from maybe a websites can be considered safe.

You're right, even if you already secured your coins in a trusted hardware wallet, it will not guarantee you a 100% safe because there's a pros and cons of securing your assets on it. The best thing you can do is to check and monitor your holding daily so you can see if there's any changes like lossing some of it. But hardware wallet is the safest way rather than software wallet which is exposed by using internet and prone to hacking incident.

Apart from investing only what you can risk to lose, this is why you don't put all your eggs in one basket, hardware wallets should be use for storing our Bitcoin definitely but you shouldn't use the same wallet that you use for hodling for your daily transaction if you're very active in the market and not just a hodler. When you do this you don't risk losing all your Bitcoin if the wallet get compromised with the scenarios you have given. I still fully recommend using a wallets like electrum for your daily transaction irrespective of it been an online wallet while we keep our Bitcoin we allocated for hodling in a hardware wallet to be touch once in a while.

MK4 has hit the nail on the head, no matter what we do we can't be 100% safe so we should always take extra precautions to keep our Bitcoin safe as the constodial of our Bitcoin is in our hands and not that of any centralized body when we use non constodial wallets.

According to the majority, hardware wallets are the safest place to keep your assets, as well as air-gapped wallets. Since you are exchanging data in the computer even if you didn't use internet connection there's still a risk.

We can't read the QR Codes by the eye but it can easily be converted to text, so we have to avoid exposing our QR Codes anywhere in social medias.

There is no such thing as "100% safe" with hardware wallets or literally anything anyway. Everything has risk tradeoffs. All we can do is to make our coins as secure as possible, to the point that it's not 100% safe, but virtually almost impossible to break.

Let's talk about the king solution of keeping your Bitcoin safe, which to me is the airgapped hardware wallets but is it safe to say that they are 100% safe? I think the answer is no..

What and what is likely to go wrong with airgapped hardware wallets?

1. Cord connection: data can still be transmitted when connecting the hardware wallet to your PC.

2. SD Card: some comes with Sd card option for updating the hardware wallet, but I am not sure that using Sd card can always be safe either, I remember those days where I use to buy lots of Sd card because they have issues easily and also they get viruses easily. Old Symbian and Android users here?

3. QR Codes: honesty, QR codes are not readable by the eye, they comes with blocks like figures, there is no way to know what's written in that QR code anyway, there is no way to read it and know what kind of data is inside it.

4. You still have to rely on the company for future safetiness of the hardware wallet in terms of software updates, if someone hackers find a way to alter the upcoming update file you know what could happen.

The only healthy solution is to understand that there is no guarantee in crypto, risk only what you can afford to lose, even after every thing, something can still always go wrong.

You can limit the risk by choosing to not connect your hardware wallet to your PC or any PC for updates, use sdcards instead, but make sure you use a brand new Sdcard for your updates, once you use one for update today, store in a safe place simply for your hardware wallet updates only, do not use for saving files or downloading.

Do not scan QR code you find online, only scan when paying to another crypto wallet or you want to sell your BTC on an exchange, QR codes can come with malicious things too.

As for the software update from the companies, pray that nothing bad comes up from their side, I still strongly believe that they are the only thing that can easily messed up hardware wallet security.

Stay safe out there kings and happy holiday 🎅