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Hot storage is a wallet that is accessible online, eg, n wallet used by the "bank" to transfer coins from their own account to a customer that wants to be paid
by bitJericho 13y ago
Hot storage is a wallet that is accessible online, eg, n wallet used by the "bank" to transfer coins from their own account to a customer that wants to be paid out.
A cold wallet is one where the keys are kept offline and not plugged into anything, eg, a printout, or a USB key.
- slaxman 13y agoSo, is keeping a majority of bitcoins (>98%) bitcoins in cold storage the only way to keep them safe?
- infinii 13y agoIf they secured their servers (from hacking), they could theoretically leave everything in hot storage (although it's not necessary for normal operations as others have stated).