It provides an electronic and secure mechanism to store your private keys and sign transactions, while retaining confidence that your private keys will not be compromised while using the device. Think of it like a YubiKey. It’s not all that different.
It also enables you to export those private keys so that you can keep a backup in the event of a hardware failure, because all hardware eventually fails.
It doesn’t lock you into their platform / ecosystem exclusively. It doesn’t prevent you from using that backup elsewhere.
It also enables you to export those private keys so that you can keep a backup in the event of a hardware failure, because all hardware eventually fails.
It doesn’t lock you into their platform / ecosystem exclusively. It doesn’t prevent you from using that backup elsewhere.