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A Dummy Question | What Does Crypto Cold Wallet And Crypto Hot Wallet Actually Mean by hironakamura

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· @hironakamura ·
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A Dummy Question | What Does Crypto Cold Wallet And Crypto Hot Wallet Actually Mean
Hot wallet and Cold wallet are phrases that are typically used in the cryptocurrency ecosystem, so for some of us who are new to the crypto ecosystem you will find out these phrases being used in crypto news, bulletins and news flash. So on todays write up I am going touch briefly on this try to break it down to your understanding as possible as I can.

![C391673A95D4417BBCAA3C24636DE11C.jpeg](https://i.imgur.com/xAcQaOU.jpg)
[source](https://phemex.com/blogs/cold-wallet-vs-hot-wallet)


So Hot wallets has do with web-base wallets, mobile wallets and desktop wallets are typically grouped under hot wallets. 
The fact that this wallets are online has ultimately made them vulnerable to cyber/ online attacks, as from findings it is said that web- wallets are the least vulnerable to these attacks. 
One of the advantages which the hot wallet has over the cold wallet it the ease of crypto transactions, base of the fact it’s online you can practically easy to make any crypto transactions. It’s not advice to keep bulk of digital assets on hot wallets, if your are deep pocket investor is advisable to make use of the cold wallet to store for [assets](https://www.gemini.com/cryptopedia/crypto-wallets-hot-cold#section-hot-wallets-pros-and-cons). 

The fact that cold wallets are not connected to the internet in any way makes them more secure, for a theft to take place you have an access such as pins, passwords to these wallets which will require your physical presence or possession of these device. 
Cold wallets usually comes in USB like stick which requires a computer before any transaction can be carried out. 
Well when you take about security, the cold wallet is fairly secured.

If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;
>LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral [link](https://peakd.com/register?ref=hironakamura)

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
[Twitter](https://twitter.com):Hironakamura 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@hironakamura/a-dummy-question-or-what-does-crypto-cold-wallet-and-crypto-hot-wallet-actually-mean)
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