The special thing about Bitcoin is of course that it is a financial asset that you can fully manage yourself. You can hold Bitcoin in your own wallet, rather than leaving it on a centralized exchange platform, and according to Ledger’s Jean-Francois Rochet, that’s becoming increasingly popular.
It is not surprising that he has that opinion, because Ledger is a company that builds hardware wallets. Devices you can use for this.
More than $3 billion in hacks and scams by 2024
In 2024, we saw more than $3 billion worth of hacks and scams in the crypto world. According to Ledger’s vice president of customer service, this has led to a growing number of investors opting for hardware wallets, rather than relying on centralized exchange platforms.
For example, in July 2024, a major hack on the WazirX crypto exchange caused a loss of $235 million and affected 4 million Indian users.
According to Rochet, these are mainly signals that it is important to provide the masses with education on this front.
“The Indian market needs to understand the benefits of crypto and self-management, and of course the importance of digital security,” Rochet said.
Ledger’s ultimate goal
Ledger’s ultimate goal is of course to make the devices as user-friendly as possible, while also keeping security in mind.
However, you could argue that having your own wallet is not the best way for everyone to manage Bitcoin.
For example, if you are not very technical, it may be dangerous to keep your savings in your own wallet. The same goes for people who are well known in the Bitcoin world.
Fortunately, there are plenty of options for that. Ultimately, everyone has to decide for themselves what works and what doesn’t. The most important thing is that the opportunity remains to make choices: do you want your own wallet? Are you going for an exchange? Or do you place your Bitcoin with an administrator?
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Source: https://newsbit.nl/ledger-topman-steeds-meer-mensen-nemen-bitcoin-in-eigen-beheer/
