Tag: cold wallet
"Hot" wallets are another term for online wallets. Hot wallets are digital wallets that operate on internet-connected devices like PCs, smartphones, and tablets. Cold wallets are the next type of wallet and the safest alternative for storage. A cold wallet is simply a wallet that is not linked to the internet and so has a lower chance of getting hacked. These wallets are also known as hardware wallets or offline wallets. These wallets save a user's address and private key on a device that isn't connected to the internet, and they usually come with software that runs in the background so that the user may see their portfolio without risking their private key.