A few days ago, I saw a friend on the square asking about cold wallet. I would like to spend some time introducing it today. It is mainly divided into two articles to share. This article mainly talks about what is cold wallet? Without further ado, let’s read on~
A Cold Wallet is a cryptocurrency wallet designed to provide the highest level of security, protecting crypto assets from cyberattacks and hackers through offline storage. The following is a detailed introduction to cold wallets:
1. **Basic Definition**
- A cold wallet is a tool for storing cryptocurrency private keys offline.
- Contrary to hot wallets, cold wallets are not connected to the Internet, thus reducing the risk of being hacked.
2. **Type**
- **Hardware wallet**: such as Ledger Nano S, Trezor. These devices are usually specially designed USB devices for secure storage of private keys.
- **Paper Wallet**: Print the public and private keys on paper and keep them safely.
- **cold storage device**: such as a USB flash drive or other offline storage device, specially used to store the private key of cryptocurrency.
3. **Main Features**
- **Offline Storage**: Not connected to the Internet, greatly reducing the risk of being hacked.
- **HIGH SECURITY**: Avoid phishing and malware attacks since you are not connected to the Internet.
- **Physical Security**: Requires physical access to device or paper, avoiding remote attacks.
4. **How to use**
- Set up a hardware wallet: After purchase, follow the instructions to set up and generate new private and public keys.
- Create a paper wallet: generate and print private and public keys using reliable online or offline tools.
- Store private keys: Store private keys offline on a USB device or other physical media.