Cold storage, really?

full image - Repost: Cold storage, really? (from Reddit.com, Cold storage, really?)

Why is cold storage / hardware wallet so important in Bitcoin community?If you have a self custody app on your iphone, what is the fear here? That someone will hack your iphone? That govt will make a deal with Apple to force an iOS update that has a backdoor into our phones?I find it all a bit doomsday prepper-ish... Change my mind?

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