/biz/ - Business & Finance

>>54527405
The risks inherent to using the Monero GUI on desktop, or a mobile wallet such as Cake wallet, is that in the event your PC or mobile device succumb to keylogging software / malware at some point, your private spend key is at risk of exposure / theft. Using a hardware wallet isn't just keeping your key on a USB storage device, a hardware wallet allows for a transaction to be signed with your private / spend key using a dedicated chip ON the hardware wallet device, and then sends the signed transaction over USB. This means that in the event your workstation or phone are compromised by malware, the malicious party only gains access to a signed transaction, which does them no good as they still don't have access to your private key.