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Cold Wallet

Cold Wallet Crypto - What is It?

A cold wallet is designed for keeping bitcoins or other cryptocurrencies offline. The digital wallet is kept on a platform that is not connected to the internet with a cold wallet, which was traditionally known as cold storage. By employing a cold wallet, cryptocurrency investors attempt to stop hackers from accessing their money through traditional means.

Cold storage strategies are advantageous for individual investors. But they are also used by bitcoin exchanges and other industry players. Furthermore, the phrase “cold storage” can be used more broadly to refer to various methods for keeping track of inactive data, including backup files, movies, pictures, and information required for regulatory compliance.