Not necessarily. As long as the device is YOURS, you can unlock it with your face, thumbprint etc. That is how iPhones and Android security has been managed for a long time.

Perhaps to unlock even more valuable transactions, you’d want to bring an external key, like a Yubikey or Ledger Nano wallet etc.

Lengthy passwords that you enter are not very secure. Anyone can capture your keystrokes, look over your shoulder with a camera, or even look at heat signatures on your phone after you left to the bathroom and locked it: https://www.zdnet.com/google-amp/article/this-thermal-attack...