People often say, “Keep large amounts in cold wallets.” What exactly do “cold” and “hot” mean?
It’s worth understanding the difference between cold and hot wallets.
The distinction between “cold” and “hot” isn’t about the wallet’s form, but whether the private key has ever been connected to the internet.
Revoke contract approvals you no longer need promptly, and avoid keeping unlimited approvals on your account.
Many people put the $BTC they plan to hold long-term in a cold wallet, and keep what they need for everyday use in a hot wallet.
#BTC
It’s worth understanding the difference between cold and hot wallets.
The distinction between “cold” and “hot” isn’t about the wallet’s form, but whether the private key has ever been connected to the internet.
Revoke contract approvals you no longer need promptly, and avoid keeping unlimited approvals on your account.
Many people put the $BTC they plan to hold long-term in a cold wallet, and keep what they need for everyday use in a hot wallet.
#BTC