Hot vs Cold wallet

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You might hear the terms ‘hot and cold‘ wallets when it comes to Bitcoin and cryptocurrencies wallets. The difference between the two is that a hot wallets is connected to the Internet and ‘online’. While cold wallets are not and completely kept ‘offline’.

Usually big exchanges like Binance, Coinbase, OKEx both keep hot and cold wallets for their users’s cryptocurrencies.

Other example of cold wallets, are paper wallets and hardware wallets. The latter which can be both a form of hot and cold wallet. By connecting and disconnecting it to your computer and the internet.

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