People often say, “Keep large amounts in a cold wallet.” So what exactly is the difference between cold and hot wallets?
First, the definition: coins are always recorded on the blockchain; a wallet only holds the private keys that control the assets.
Here’s the logic: hot wallets are convenient, but the devices holding their private keys are always connected to the internet, so malware and phishing pages could access those keys.
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. The current price is 75799.96.
Don’t take photos of your recovery phrase, and definitely don’t store it in cloud storage.
#BTC
First, the definition: coins are always recorded on the blockchain; a wallet only holds the private keys that control the assets.
Here’s the logic: hot wallets are convenient, but the devices holding their private keys are always connected to the internet, so malware and phishing pages could access those keys.
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. The current price is 75799.96.
Don’t take photos of your recovery phrase, and definitely don’t store it in cloud storage.
#BTC