๐ Crypto Trading Series โ Lesson 11: Hot vs Cold Wallets
๐ก What is a Wallet?
A crypto wallet is where you store your digital assets safely. Think of it like your bank account, but you control the keys ๐.
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๐ฅ Hot Wallets โ Connected to the internet ๐
Instant access for trading ๐ป
Examples: Binance Wallet, MetaMask, Trust Wallet
Convenient but more vulnerable to hacks โ ๏ธ
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โ๏ธ Cold Wallets โ Offline storage ๐ก๏ธ
Not connected to the internet ๐
Examples: Ledger, Trezor, paper wallets ๐
Safer for long-term storage, harder for hackers to access ๐ช
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๐ฏ Key Takeaways:
Use hot wallets for active trading and small amounts ๐ผ
Use cold wallets for long-term holdings and large sums ๐ฐ
Never keep all your crypto in one wallet โ diversification is safety ๐
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๐ก Pro Tip:
Even if you are an active trader, keeping the bulk of your crypto offline ensures your assets survive hacks or exchange downtime.
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