Short answer
No, not for everyone. Whether to buy a hardware wallet depends on three factors — position size, frequency of use, and whether you sign smart contracts — not on whether you're a "crypto veteran." For a US holder with under $5,000 in crypto, kept for long-term hold, the friction of a hardware wallet usually exceeds the marginal security gain. Above $25,000, it's the highest-ROI security upgrade available.
The three dimensions
Position size. Under $5K, a clean phone wallet with strong passcode is reasonable. $5K-25K, hardware wallet becomes worth considering. Above $25K, mandatory. Above $250K, multisig with multiple hardware wallets.
Frequency of use. If you sign 10+ transactions per week (active DeFi, NFT minting, day trading), the friction of a hardware wallet eats into operational discipline — people quietly drift back to hot wallets. Better setup: small hot-wallet "float" for daily, hardware wallet for the bulk position.
Contract signing. Every approval, every setApprovalForAll, every Permit signature is a place an attacker can drain your wallet. Hardware wallets force you to physically read the destination and approve on-device — this single property catches a huge fraction of approval-phishing attempts.
What $79 buys you
Ledger Nano S Plus or Trezor Safe 3, both at $79 on official storefronts, give you the full secure-element threat model. The difference from a phone wallet is roughly two orders of magnitude in attack resistance. If your stack is above $5K and you can spare $79, the math is straightforward.
When not to buy
Three cases. First, you genuinely hold under $1K and don't plan to add — friction outweighs gain. Second, you're testing crypto for the first month — learn the basics first, then upgrade. Third, you only hold via spot ETF or institutional custody (Coinbase Prime, etc.) — no on-chain exposure means no key to protect.
Further reading: Hardware wallet, Hardware wallet comparison.