What Are the Risks of Hardware Device Wallets?

What Are the Risks of Hardware Device Wallets?
1) The storage and care of the hardware device itself.
The Private Keys are stored on the hardware device itself. The Private Keys manage all of the different coin wallets that the device handles.
Special care must be taken to protect the device from theft, water and fire damage.
2) The next level of risk is in the choice of your access PIN for the hardware device. The PIN is used to access your hardware device. It can be as short as 4 digits or as long as 8 or 9 digits. Do not use easily guessed numbers like your phone number or birth dates.
3) Finally and most importantly, is the storage and care of the Mnemonic Backup Phrase. The Mnemonic Backup Phrase is the only way to restore or recover your wallet if you should lose access to the hardware device due to damage or loss.

To be the most secure with your mnemonic backup phrase:
a) Never take a screenshot, photo, or store a digital copy of the mnemonic backup phrase on the internet.
b) Store the backup phrase on a physical sheet of paper or card.
c) Print the mnemonic backup in ALL CAPS, so there a fewer chances of misreading the words when it comes time to restore the wallet.
d) Clearly label the backup sheet, to distinguish it from other backups.
Laminate the paper or card to protect it from water damage. Store it in a fire resistant safe to protect it from fire and unauthorized viewing.

Remember. if you lose your Mnemonic Backup, you have lost your means of recovering your wallet!