The underlying synthesis (oscillators, filters, envelopes) can be implemented as dedicated physical hardware or as software running on a computer - the sound-generating principles are the same, but the practical experience differs quite a bit.
Hardware advantages
- Dedicated physical knobs and sliders for direct, tactile, one-parameter-per-control access, versus navigating menus or an on-screen interface.
- Works standalone, without needing a computer running - useful for live performance reliability.
- Often holds resale value better than software licenses, which typically have no resale market at all.
Software/VST advantages
- Far lower cost of entry, and no risk of component aging or physical wear.
- Deep integration with a DAW for recording, automation and recall of exact settings.
- Can run many instances at once, limited mainly by computer processing power rather than owning multiple physical units.
On the used market
This matters for buyers because a used hardware synth is being evaluated on its own physical condition and electronics, while "buying used" software generally isn't really possible in the same way - most software licenses are non-transferable or restricted, which is worth checking before assuming a private secondhand software sale is even valid.
