Why do we trust hardware wallet manufacturers?

[bosshyip]

I have recently bought a hardware wallet. (Ledger Nano S)

This made me think about the reasons why I should trust my life savings
to these companies? They write software that I cannot understand and I
trust other people to verify that the software that they wrote is 100% safe.

Why do I trust the people who "verified" that code? I have no idea what
their motivation is and if I can trust them.

The only answer that I could get, was that the honesty and the trust
would benefit the group and the community that was using this
technology.

[husanchaika]

I have recently bought a hardware wallet. (Ledger Nano S)

This made me think about the reasons why I should trust my life savings
to these companies? They write software that I cannot understand and I
trust other people to verify that the software that they wrote is 100% safe.

Why do I trust the people who "verified" that code? I have no idea what
their motivation is and if I can trust them.

The only answer that I could get, was that the honesty and the trust
would benefit the group and the community that was using this
technology.

Today hardware wallets are the most safe ones, because no one can enter your ledger and it's cannot be hacked as long as you don't link it to the internet. And mostly hardware companies have a good reputation and they don't need to deceive you.

[CryptoZenWorld]

This really interesting topic. I agree with you. We should not trust hundred per cent to any software. I have good logic behind this statement.

For example, just talk about famous application name facebook. We all trust facebook but when we come to know that our information is not safe there, Then our awareness raised.

So, If the hardware company do some code, like after a definite time all balance we be removed or transferred anyhow. What we will do then.
To whom we will report. Do our govt or your govt take any responsibility?
No.

If it was a central bank of govt, then there could be a chance for reporting on the issue.

So, it is really very important not to depend on any software without govt authorisation. Because our money is safe in govt bank only.

We shouldn't put all our earnings in the hard wallet.

Thanks.

[Crypto Guard]

In my opinion, the hardware wallet is much safer than the online wallet. This kind of wallet can hold more coins to save. Additionally, it is save enough to avoid the hacker. But, it is much pricier.

[rightway]

I have recently bought a hardware wallet. (Ledger Nano S)

This made me think about the reasons why I should trust my life savings
to these companies? They write software that I cannot understand and I
trust other people to verify that the software that they wrote is 100% safe.

Why do I trust the people who "verified" that code? I have no idea what
their motivation is and if I can trust them.

The only answer that I could get, was that the honesty and the trust
would benefit the group and the community that was using this
technology.

We need to trust them because they are the one who keeps our cryptocurrency investment safe from hackers.

[jet]

Hardware wallet are the safest wallet to use because it's work offline. Manufacturer has nothing to do with your keys so don't worry.

[sugarchrisp]

At some point you just have to trust manufacturers.  Larger manufacturers especially have had their products scrutinized by millions of people across the globe, if a flaw or vulnerability is found in a product usually it becomes wide knowledge right away.  The same reason you trust the companies that sell you TVs or microwaves or refrigerators, you trust because everyone else does.  If a company has only a few people buying their products then I'd say that's cause to be more skeptical, but anything that sells globally is pretty much safe.

[santawarrior]

I have recently bought a hardware wallet. (Ledger Nano S)

This made me think about the reasons why I should trust my life savings
to these companies? They write software that I cannot understand and I
trust other people to verify that the software that they wrote is 100% safe.

Why do I trust the people who "verified" that code? I have no idea what
their motivation is and if I can trust them.

The only answer that I could get, was that the honesty and the trust
would benefit the group and the community that was using this
technology.

We need to trust them because they are the one who manufacture the wallet,