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surabhi4
10 months ago  Karma: 10
What's the difference between hot and cold wallets?

Why are hot and cold wallets required in the cryptocurrency blockchain implmentations? I'd like to know the security implications.

cryptocurrency
blockchain
wallets
Users img
surabhi4
10 months ago  Karma: 10
What's the difference between hot and cold wallets?

Why are hot and cold wallets required in the cryptocurrency blockchain implmentations? I'd like to know the security implications.

cryptocurrency
blockchain
wallets

3 ANSWERS
ultradm2
9 months ago Karma: 80

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)

jbdiwan02
2 months ago Karma: 10

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.

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