Is it okay to store most of my crypto in non-custodial phone wallets vs hardware wallets?

- Is it okay to store most of my crypto in non-custodial phone wallets versus hardware wallets? It's okay, but it's not safe. It really isn't safe.

Mobile wallets compared to desktop

Software wallets and mobile devices, while much more secure than desktops, are nowhere near as secure as a hardware wallet. So there is a very good chance that due to a bug in the software, even in non-custodial systems, due to a bug in the software or due to a compromise of your device, or for a dozen other reasons that your funds can be stolen. I would basically look at the situation as follows.

The tears test for hardware wallets

Once I have enough crypto where I would literally cry if it was stolen from me, then it is worth spending $35 to get a hardware wallet, or even $100 or even $150 to get a hardware wallet to protect that crypto. If your financial situation doesn't reflect that, you make your own analysis based on those facts. But for the most part, I would jump in to the hardware wallet space much sooner, and I wouldn't put too much money on a mobile device. (gentle music) - [Andreas] If you enjoyed this video, please subscribe, like, and share. All my work is shared for free. So if you wanna support it, join me on Patreon.