Recent security incidents involving Ledger and Coldcard hardware wallets have revived debate over whether self-custody suits beginners. Safe Labs CEO Rahul Rumalla argues self-custody was always meant for everyone, while Onramp CEO Michael Tanguma says it was never designed with newcomers in mind. Multisig wallets improve security but add complexity in signer coordination and recovery, and several signers can still approve a malicious transaction if all are deceived by the same compromised interface. Tangem's seedless design removes the recovery phrase, but losing every device permanently locks users out of their funds, and Foundation CEO Zach Herbert criticized the lack of a built-in screen for verifying transactions.
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