Thank you for attending the lecture in Steemit-Crypto-Academy & doing the homework task-3.

Personally I think that hardware wallets offer the greatest security advantages, but on the other hand they are expensive and for many people it may be more expensive to buy the hardware wallet than the value of the cryptocurrencies that could be stored there.

Yes, if security is the predominent criteria for you and you are whale/orcas who usually deals with large amount of crypto assets, then Hardware wallet is the best option.

If you deal with less amount of crypto, a hardware wallet may not be economical. Further from usability point of view, software wallets are convenient and easy for the general users.

they have a big disadvantage compared to decentralised wallets and that is that we lose control of our private wallets and we are at the mercy of the security measures taken by the central authority to ensure the ownership of our money.

Yes, they are vulnerable to a common threat like single point failure.

when we keep our money in a centralised exchange, we are breaking the principle that Satoshi Nakamoto mentioned in that white paper.

Conflict of interest! I strongly feel that down the line, it will get better. We have already seen how the AMM-based model DEXs have already solved the liquidity issue of DEX.

CEXs have better volume, low latency. So I would say for short term purpose, they till have their relevance. However, a non-custodial wallet is a true digital home for your crypto asset.

Today these wallets tend to be very dynamic, open to change and offer us a lot of dApps, and smart contracts from which we can get great benefits. In 2020 we saw a huge proliferation of DeFi, making the market much more attractive and helping the massive adaptability of cryptocurrency in our day to day lives.

That's correct. I would love to see your own web 3.0 experience(e.g. How you interact with DeFi applications using your web 3.0 wallet)

Thank you.

Homework Task -3
[6]