Ethereum founder Vitalik Buterin does not use hardware wallets

In a new Twitter post, Ethereum founder Vitalik Buterin comments on the heated debate over secure storage options for crypto. But single-signature wallets are apparently not his preferred security tool.

Vitalik explains that he stores 90 percent of his crypto assets in a multi-sig wallet: "M-of-N, you have some keys yourself (but not enough to block recovery), the rest is in the hands of other people you trust." And further, "Do not disclose who these other people are, even to each other."

The "M-of-N" mentioned by Vitalik describes one of the ways that multi-signature wallets can be set up. The first variable refers to the minimum number of signatures required to transfer crypto from the wallet. The second variable refers to the total number of possible signatories that exist for the wallet.

Vitalik's comment is part of a broader discussion on crypto security involving several leading figures in the Ethereum ecosystem. The Twitter discussion was started by Kofi of gasfees.io, who recommended, "Buy a hardware wallet today and use it as soon as possible. [...] Then move most of your assets to your hardware wallet."

In contrast, Peter Watts, founder of Reservoir, pointed out the risks of hardware wallets. He emphasized the potential personal errors that can undermine the security of such devices. Vitalik apparently sees it the same way. Vitalik's multiple-signature approach spreads the risk and reduces the chance of theft or loss due to a single point of failure.