Comparing security of cryptoexchanges, with software, hardware wallets

[neku]

I have heard some people complain that their software, hardware wallet was hacked and the money stolen. How secure are the software wallets like Metamask compared to an exchange account at Binance or other exchange , does the exchange account have better security?

 

[Suba]

Until now I have never heard of any hardware wallet such as Trezor, Ledger, KeepKey etc. having been hacked, and hardware wallets or cold wallets are still considered the most secure wallets. Metamask is a type of non-custodial wallet so security and control is in your hands, while Binance is a CEX, so you have no control over the crypto you store.

 

[magnus2022]

I have heard some people complain that their software, hardware wallet was hacked and the money stolen. How secure are the software wallets like Metamask compared to an exchange account at Binance or other exchange , does the exchange account have better security?

It is difficult to hack hardware wallets because the stored coins is no more visibly online. You can hack what you can't see! Well, a lot of exchange have increased their security and make it near impossible to hack. But we are living in a time where everything is possible. I mean everything is possible!