The difference between a Hot Wallet and Cold Storage Hot wallet refers to any cryptocurrency wallet that is connected to the internet. Generally hot wallets are easier to set up, access, and accept more tokens. But, hot wallets are also more susceptible to hackers, possible regulation, and other technical vulnerabilities. Cold storage refers to any cryptocurrency wallet that IS NOT connected to the internet. Generally cold storage is more secure, but they don’t accept as many cryptocurrencies as do many of the hot wallets. Cold storage devices (aka. Trezor, Ledger) also cost close to $80 USD, whereas hot wallets are free. Learn more here: https://learn.onemonth.com/hot-wallet-vs-cold-storage/#:~:text=Hot%20wallet%20refers%20to%20any,is%20connected%20to%20the%20internet.&text=Cold%20storage%20refers%20to%20any,many%20of%20the%20hot%20wallets. #CryptoAwareness #SpreadBCH #BitcoinCash
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