冷钱包

🔸What is a cold wallet?

Cold wallet in English is "Cold Wallet", which means an "offline wallet" that is not connected to the Internet. It stores assets such as cryptocurrencies and NFTs in an offline physical device USB, such as withdrawing assets from an account and locking them in a safe. middle. The advantage is that it is stored in a personal wallet, which is safer; the disadvantage is that there is a purchase cost, and the transaction requires USB authentication, which is a cumbersome process.

🔸Why use cold wallet: Stay away from risks

Cryptocurrency investors all know that using cold wallets is the best way to protect crypto assets. Regulation of the cryptocurrency industry has not yet been implemented, and there is no guarantee that there will not be a black swan event like the bankruptcy of FTX.

For those in the currency circle, wallets are certainly no stranger to this matter. I believe that the wallet most people come into contact with is the hot wallet Metamask (also known as the little fox)
But as wallets increase in number, the issue of keeping private keys has become a worry for many people.
Even if they keep private keys, mnemonic phrases, etc., many people forget or have them stolen due to poor management, resulting in the loss of cryptocurrency assets.
Because of this, people's demand for cold wallets has increased sharply, and they want to store crypto assets through cold wallets.
However, there are many different cold wallets on the market, how should we choose?

In the world of cryptocurrency, wallets are used to store, send, and receive digital assets. They are mainly divided into cold wallets and hot wallets based on whether they are connected to the internet.

Cold Wallet: Offline storage, security first

Cold wallets refer to cryptocurrency storage methods that are not connected to the internet, typically including hardware wallets, paper wallets, and offline computers. Because they cannot be directly attacked by hackers, cold wallets are suitable for long-term storage of large assets, but require extra steps when used, such as connecting devices and manually confirming transactions.

Common types of cold wallets:

Hardware Wallets (e.g., Ledger, Trezor): Secure chip stores private keys, supports multiple cryptocurrencies.