Is it safe to keep coins in a wallet on your phone?
Here’s how I understand it: the difference between hot and cold wallets isn’t their form, but whether the private key has ever been exposed to an internet-connected environment.
You can make transfers with a cold wallet too: sign the transaction on an offline device, then send it to the blockchain using an internet-connected device.
My current habit: even when using a cold wallet, I write down the recovery phrase. If I lose the device, I can restore access with the phrase.
Many people put $BTC , which they plan to hold long term, in a cold wallet and keep what they need for everyday use in a hot wallet.
#BTC
The data comes from public sources. Please verify it yourself.
Here’s how I understand it: the difference between hot and cold wallets isn’t their form, but whether the private key has ever been exposed to an internet-connected environment.
You can make transfers with a cold wallet too: sign the transaction on an offline device, then send it to the blockchain using an internet-connected device.
My current habit: even when using a cold wallet, I write down the recovery phrase. If I lose the device, I can restore access with the phrase.
Many people put $BTC , which they plan to hold long term, in a cold wallet and keep what they need for everyday use in a hot wallet.
#BTC
The data comes from public sources. Please verify it yourself.