Exactly What Are Hot & Cold Wallets?
Cold storage refers to storing your cryptocurrency in physical objects that are not connected to the internet. Because the storage device you’re using isn’t connected to the internet, it can’t be hacked. These devices are protected by powerful security codes that encrypt your currencies completely. Consider Cold Storage if you’re looking for the safest option to store your cryptocurrencies. For advanced cold storage security, we recommend the following items below.
On the other hand, any storage that allows you to send and receive digital assets is known as hot storage. Hot storage, unlike cold storage, is always connected to the Internet (to allow transmitting and receiving) and never a physical device. Hot storage is provided by online crypto wallets, or wallets connected to your computer or phone.