a hot wallet is a wallet that is unlocked on a machine that has a kind of network connectivity - think of the wallets the exchange sites use, or the wallet you use on you phone or computer
a cold wallet is stored "offline" on a paper or on a computer that is not having a network connection (the term comes from cold storage in fact)
a hot wallet is a wallet that is unlocked on a machine that has a kind of network connectivity - think of the wallets the exchange sites use, or the wallet you use on you phone or computer
a cold wallet is stored "offline" on a paper or on a computer that is not having a network connection (the term comes from cold storage in fact)
i want to keep it simple ,so : Hot wallet is your wallet on an exchange ,and a cold wallet is your private wallet wich is not on an exchange ,and is most secured way to keep your coins safe !
i want to keep it simple ,so : Hot wallet is your wallet on an exchange ,and a cold wallet is your private wallet wich is not on an exchange ,and is most secured way to keep your coins safe !
It's a matter of speed, the hot wallet immediately has the possibility of exchanging for flat money (in many cases depending on the app used) in the case of cold wallets, the security of the funds is the main thing.
It's a matter of speed, the hot wallet immediately has the possibility of exchanging for flat money (in many cases depending on the app used) in the case of cold wallets, the security of the funds is the main thing.
