Can you explain the concept of "hot" and "cold" wallets in the context of cryptocurrency storage?
» Wallets and Exchanges- Hot wallets are connected to the internet, offering convenient access for daily transactions.
- Cold wallets are offline storage methods, providing enhanced security for long-term asset holding.
- Users often balance both wallet types, using hot wallets for liquidity and cold wallets for savings.
Hey, can someone break down the difference between 'hot' and 'cold' wallets for storing crypto? Need to know which is safer for keeping my coins without getting all technical. Cheers!
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