What is a cold wallet?

With a cold wallet, also originally known as cold storage, the digital wallet is stored on a platform not connected to the internet, thereby protecting the wallet from unauthorized access, cyber hacks, and other vulnerabilities that a system connected to the internet is susceptible to.

How to store crypto in a cold wallet?

Individual crypto owners can also store crypto in cold wallets as well. One of the most secure forms of cold wallet is a paper wallet. A paper wallet is a cold wallet that you can generate from specific websites which support this feature. The website produces both public and private keys that you print out on a piece of paper.

What are the different types of crypto wallets?

Crypto wallets are divided mainly into two types: hot wallets and cold wallets. Hot wallets use keys (a type of cryptography, like a password). They are created or stored on a connected device and are considered less secure compared to cold wallets. A cold wallet is a cryptocurrency storage solution that is not connected to the Internet.

What is cryptocurrency cold storage?

Cold storage is removing your cryptocurrency keys from your wallet and storing them somewhere that is not connected to the network or internet.