Coldcard/CoinKit have been in this space for few market cycles now and don't have major leaks/issues (unlike their major competitors who both leaked cusotmer data, putting their customers at risk considering the product).
I'd say for hardware wallets they are as trustworthy as it gets. And they open sourced both their firmware and hardware schematics so it's easier/possible to verify what you are using, if you have the abilities to do it.
The PSBT format isn't human readable (binary), it's following a BIP standard and open source tools exist to decrypt it... or simply use reputable wallets which support this format. And yes before signing a transaction you get a summary of the transaction/fees decoded by the ColdCard device. You then reconfirm it in the wallet you use to broadcast it before sending it on Bitcoin's network.
> I almost feel like crypto bros are all into HODL because spending coins is just too much effort!
A hot wallet is really no hassle to maintain and use, keep whatever you are willing to lose in it (like you would do in your real world physical wallet with cash... if you still have one of these). For larger amounts HW are more of a hassle... like it's more of a hassle to go to the bank to deposit/withdraw large sums. The differences are that Bitcoin is open 24/7, doesn't tell you what you can/can't do with your money, doesn't add/charge more fees each month for service you didn't ask for and most importantly isn't at the mercy of a single political actor deciding to devalue it more by increasing the national debt. It will be affected by markets like all things, but its total supply is quote certain at least.
I'd say for hardware wallets they are as trustworthy as it gets. And they open sourced both their firmware and hardware schematics so it's easier/possible to verify what you are using, if you have the abilities to do it.
The PSBT format isn't human readable (binary), it's following a BIP standard and open source tools exist to decrypt it... or simply use reputable wallets which support this format. And yes before signing a transaction you get a summary of the transaction/fees decoded by the ColdCard device. You then reconfirm it in the wallet you use to broadcast it before sending it on Bitcoin's network.
> I almost feel like crypto bros are all into HODL because spending coins is just too much effort!
A hot wallet is really no hassle to maintain and use, keep whatever you are willing to lose in it (like you would do in your real world physical wallet with cash... if you still have one of these). For larger amounts HW are more of a hassle... like it's more of a hassle to go to the bank to deposit/withdraw large sums. The differences are that Bitcoin is open 24/7, doesn't tell you what you can/can't do with your money, doesn't add/charge more fees each month for service you didn't ask for and most importantly isn't at the mercy of a single political actor deciding to devalue it more by increasing the national debt. It will be affected by markets like all things, but its total supply is quote certain at least.