HOT vs COLD Wallet CryptoCurrency?


 

Security is still the main concern in Crypto Industry, during the past couple of years we saw various Hacking, Theft or Even Exchange Shuts Down.

For an individual is keeping funds on exchanges or internet-connected wallets is no safer, we must have to know what is COLD & HOT Wallets are?

HOT Wallet: The Wallet which is connected to the internet is HOT Wallet, such as Exchanges, Web Wallet, MEW, etc. The main issue with these wallets is that these are highly accessible due to that chances of hacking are much.

COLD Wallet: The Wallet which is not connected to internet is COLD Wallet, you can say these are offline wallets, you can store your funds offline, such as LEDGER Wallet, Trezor Or Paper Wallet. Due to their offline nature funds are more secure in the respective ways.

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