Hot or cold? Guide to self-custodial wallets

馃敟鉂勶笍 Wallet showdown: convenience vs security

By Bebop
Oct 10, 2024, 2:02 PM
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This article provides an overview of hot and cold self-custodial wallets for crypto assets:

  • Hot wallets are connected to the internet, offering convenience for frequent transactions
  • Cold wallets are offline hardware devices, prioritizing security for long-term storage
  • Key differences:
    • Hot: Easy setup, free, vulnerable to online threats
    • Cold: Offline security, physical device required, higher cost

The guide emphasizes the importance of proper security practices, regardless of wallet type:

  • Store keys/phrases offline
  • Never share private information
  • Double-check transactions
  • Keep software updated
  • Use secure networks

Choose based on your trading frequency and security needs.​

Sources
Twitter
Twitter
https://twitter.com/bebop_dex/status/1843609826276061586
https://medium.com/bebop-dex/hot-wallet-vs-cold-wallet-keeping-it-fast-or-safe-eb9ca6ac068a?source=rss----bd4f08378cd0---4
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