A hardware wallet is a device used to safely store cryptocurrencies and is considered to have a higher level of security than online wallets. Such wallets take the form of a USB device and contain a special chip that stores the currency.
One of the most important security features of hardware wallets is the offline signing feature, which allows you to sign transactions without having access to the wallet from a networked computer, thus eliminating the need for direct access to the wallet and protecting it from hacker attacks.
Additionally, hardware wallets feature two-factor authentication, meaning that to access the wallet you must first enter your password and then authorize the transaction on the wallet itself, ensuring that even if an unauthorized person gains access to your wallet they cannot carry out any transactions.
However, hardware wallets are not completely secure either. For example, the wallet can be physically stolen or lost. Furthermore, the wallet's firmware can be tampered with, which could allow the wallet to perform fraudulent transactions.
Therefore, if you use a hardware wallet, you should check the latest information on security measures and make sure you are using the latest version of the firmware. You should also create a backup and set up your wallet correctly before using it. It is also important to keep your wallet PIN code and recovery phrase in a safe place so that you do not lose them.