What is the difference between a hot and cold blockchain wallet?
Curious about blockchain wallet
The main difference between a hot and cold blockchain wallet is their level of connectivity to the internet.
A hot wallet is connected to the internet and can be accessed through an online platform or mobile application. It is convenient for frequent transactions and immediate access to funds, but it is also more vulnerable to hacking and cyber attacks since it is connected to the internet.
On the other hand, a cold wallet is not connected to the internet and is usually stored offline, such as on a hardware device or a piece of paper. This type of wallet provides a higher level of security against hacking and cyber attacks, but it is less convenient for frequent transactions and requires more steps to access the funds.
In summary, a hot wallet is more accessible and convenient but less secure, while a cold wallet is less accessible and less convenient but more secure.