Short answer
It depends on whether you hold crypto at all. A hardware wallet keeps your keys offline, which matters for protecting savings. If you auto-convert every sale to dollars, you may never need one. Once you hold a balance large enough that losing it would hurt, it is worth the modest cost.
A simple rule
- Settle to dollars, hold nothing: a hardware wallet is optional.
- Hold a growing crypto balance: a hardware wallet is worth it.
Compare in depth
See hot wallet vs. hardware wallet for when the upgrade earns its cost.
Common misconceptions
- That a hardware wallet is needed to accept payments. It protects stored funds, not the act of receiving.
Things to avoid
- Buying a used hardware wallet. Only buy new, from the manufacturer.