Are coins stored in a wallet on a phone secure enough?
My understanding: The distinction between hot and cold wallets isn't about what the wallet looks like, but whether the private key has ever been exposed to the internet.
A cold wallet can also initiate transfers: the transaction is signed on an offline device, then sent to the blockchain by an internet-connected device.
My current habit: Before confirming a transaction with a cold wallet, I check the recipient address and amount on the device screen item by item.
Many people keep $BTC in a cold wallet for the long term, and keep what they need for everyday use in a hot wallet. Currently: 75637.78.
My understanding: The distinction between hot and cold wallets isn't about what the wallet looks like, but whether the private key has ever been exposed to the internet.
A cold wallet can also initiate transfers: the transaction is signed on an offline device, then sent to the blockchain by an internet-connected device.
My current habit: Before confirming a transaction with a cold wallet, I check the recipient address and amount on the device screen item by item.
Many people keep $BTC in a cold wallet for the long term, and keep what they need for everyday use in a hot wallet. Currently: 75637.78.
