Pros:
*Very good answer to security issues.
*You are only the one who can open your device if its lock.
*Used by giant companies in the world like facebook, google etc. that makes it more legit.
*Uses advanced security for encryption of datas.
Cons:
*No tracking if the device is lost.
*How to open my device if my yubikey is lost?
*Must keep in hand or put in a vault to keep it safe.