Is a wallet app on your phone a hot wallet or a cold wallet?
First, what are they? Exchanges usually also manage custodied assets in two categories: hot wallets and cold wallets. Most everyday withdrawals are paid from hot wallets.
Why the distinction? The difference between “cold” and “hot” isn’t what the wallet looks like, but whether the private key has ever been exposed to an internet-connected environment.
Many people put $BTC , which they plan to hold for the long term, in a cold wallet, and keep what they need for everyday use in a hot wallet.
Don’t rush to click unfamiliar links, and check what you’re authorizing before signing.
#BTC
First, what are they? Exchanges usually also manage custodied assets in two categories: hot wallets and cold wallets. Most everyday withdrawals are paid from hot wallets.
Why the distinction? The difference between “cold” and “hot” isn’t what the wallet looks like, but whether the private key has ever been exposed to an internet-connected environment.
Many people put $BTC , which they plan to hold for the long term, in a cold wallet, and keep what they need for everyday use in a hot wallet.
Don’t rush to click unfamiliar links, and check what you’re authorizing before signing.
#BTC