Re:Bitcoin wallets (Score 1)

Bitcoin is a poor comparison. A better comparison is your identity documents. You have a birth certificate, you have a passport. These documents you control and keep in your home. Someone, somewhere else doesn't keep them on your behalf.

If your wallet becomes compromised, just like in real life it sucks, but you re-apply to the issuing agencies and get new copies of your ID documents.

A bitcoin cannot be reissued.

Here is a good explainer https://bitsonblocks.net/2017/05/17/gentle-introduction-self-sovereign-identity/