What are the differences between hot wallets and cold wallets for storing bitcoin?

1 answers

• Elite Mobile RVSep 04, 2023 · 2 years ago
  Hot wallets and cold wallets are two different approaches to storing bitcoin. Hot wallets are like keeping your bitcoin in your pocket - easily accessible but also more prone to being stolen. Cold wallets, on the other hand, are like keeping your bitcoin in a safe deposit box - they provide a higher level of security but are less convenient to access. At BYDFi, we recommend using a combination of both hot and cold wallets. Keep a small amount of bitcoin in a hot wallet for everyday use and store the majority of your bitcoin in a cold wallet for long-term security. This way, you can enjoy the best of both worlds - convenience and peace of mind.
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