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@TheDINO edited

Hot Wallet vs Cold Wallet

Well Hello read.cash Readers I am writing this because I kept getting prompted by read.cash to backup my wallet😃 (thank you @read.cash for reminding me of your "beta status" and helping me watch out for my few dollars of BitcoinCash on this platform🙂) I appreciate that read.cash was transparent and prompted me to backup my earnings

Now comes the question? How do I do that??? 😆 I realize that I sound completely ignorant (which I admit I am) but I did some research and thought I'd post the results for those who may find themselves receiving the same reminders from read.cash. Hope this helps a bit 🙂 So when I looked at wallets - there are MANY to choose from Of course there is the **read.cash wallet**, but when researching this is just a sample below of results when "googling" ⬇️ crypto wallet ⬇️ , AND I kept seeing the phrase **"hot wallet"** and **"cold wallet"** **WTH Does this mean?** 🤔

other wallets - Coinbase, Blockchain, Binance Chain, Paxful Wallet, Atomic Wallet, Robinhood Exodus, Electrum, Monero, Edge, Mycelium, GreenAddress, Lumi Wallet, Wallet, BRD, Paper Wallet, Bitcoin Armory - the choice is yours 🤓 I was interested though, in the terms **"hot wallet"** and **"cold wallet"** A **"hot wallet"** is a wallet that is connected to the internet. This type of wallet allows you to store coins / tokens as well as conduct transactions and send / receive cryptocurrency.

If you are going to be using your Bitcoin for payments or basic transactions it seems you need to have a hot wallet to accomplish this. It is considered less secure (obviously **anything** connected to the internet has possible security risks) However, most of my research claims that hot wallets are not unsafe, just more vulnerable. On the other side a **"cold wallet"** is completely offline.

It is a physical cryptocurrency storage device that you keep and is not connected to the internet. (I was unable to find a "cold wallet" photo on Unsplash, but they look **KINDA** like a flash drive) This is supposed to be a most secure way to store crypto, but from my research it seems that taking funds in and out is a bit of a task. So, what will I (personally) do? I don't have a significant crypto investment at this point so I will be using a "hot wallet" then I will likely get a "cold wallet" later (once I have some money saved😂 ) I am still learning and want to be able to see what transactions I can and cannot do. I am not giving anyone advice, just sharing what I learned so far. 🤓 Cheers

Thank for the photos https://pixabay.com/photos/banknote-coin-euro-cash-currency-1396351/ https://pixabay.com/photos/credit-squeeze-taxation-purse-tax-522549/ https://www.pexels.com/photo/photo-of-man-touching-his-head-3752834/ https://www.pexels.com/photo/person-holding-coin-1602726/ https://unsplash.com/photos/4_41-79dHvE

12¢

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