PANews reported on August 17 that according to CryptoSlate, the German Federal Office for Information Security (BSI) recommends that crypto users use hardware wallets to protect their digital assets, claiming that hardware wallets are the safest way to store digital assets, and explaining that these devices can help keep users' private encryption keys in offline or "cold" storage. This offline storage ensures that the keys are safe until they are needed for transactions. BSI warned that although exchange-based custody is more convenient, it is vulnerable to hacker attacks. In contrast, the agency pointed out that self-protection wallets on mobile phones or personal computers also have major security vulnerabilities. In view of these risks, BSI recommends using hardware wallets as the best option for protecting cryptocurrencies. Passwords protect these wallets and allow users to create secure backups.