Have you hard Hot Wallet and Cold wallet?

Have you hard Hot Wallet and Cold wallet?

This word is very important to protect your digital asset like crypto and NFT.

What is  Hot Wallet and Cold wallet?

Hot Wallet: Online wallet (wallets such as exchanges and Metamask)

Cold wallet: Offline vault (such as a hardware wallet)

Digging deeper, whether the secret key is online or offline determines the type of wallet.

The secret key is a random alphanumeric character, and with the private key, you have the authority to move crypto assets , or it is proof of possession. For example, is it like a bank PIN.

Hackers will use various means to steal this secret key. As long as you have the secret key, they can freely steal crypto and NFT from your wallet.

Therefore, cold wallets, in which the secret key is blocked from the internet and stored, are less susceptible to hacking and have a higher defense.

What kind of cold wallet?

Yes, cold wallet are two kinds mainly.

Paper wallet - secret key written on paper

Hardware wallet - Manage with special device

→ Connect via USB or Bluetooth

The most popular of these are the hardware wallets known for Ledger and Trezor. The reason for its popularity is that it is more convenient and defensive than the other two.

The secret key is stored in such a device, and it is used by connecting it to a computer or smartphone via USB or Bluetooth.

The secret key can be physically blocked when not connected to a computer or smartphone,  impregnable defense. At present, this is the strongest possible safety measure.