Whether you should use V-Key to replace a hardware token depends on your specific needs and circumstances. Here are a few factors to consider:
Convenience: V-Key is a software solution that turns your device into a One Time Password generator. This can be more convenient than carrying around a separate hardware token.
Cost: Hardware tokens can be expensive to replace if lost or damaged. A software solution like V-Key could potentially be more cost-effective.
Security: V-Key's solution is built on the V-OS Virtual Secure Element, which provides a high level of security. However, some might argue that hardware tokens are less vulnerable to certain types of attacks, such as malware on the user's device.
User Experience: Some users might find a software solution like V-Key easier to use, while others might prefer the tangibility of a hardware token.
Compatibility: V-Key can be used with a wide range of devices and services, which might not be the case with certain hardware tokens.
In conclusion, V-Key could be a good replacement for a hardware token, but it ultimately depends on your specific needs and circumstances. It's always a good idea to consult with a security professional or conduct a thorough risk assessment before making such a decision.