# Cold Storage (wallet) 1. The offline safekeeping of [[Private Key|private keys]] which allow for access to [[Crypto (cryptocurrency)|cryptocurrency]] funds. Typically this is done through [[Hardware Wallet|hardware wallets]], USB drives, and [[Paper Wallet|paper wallets]]. 2. Cold storage refers to the offline storage of a [[Crypto (cryptocurrency)]] wallet. "Offline" means that the [[wallet]] is disconnected from the internet, preventing hackers from accessing it. Cold storage is considered to be the most secure way to hold [[Crypto|crypto]] assets. 4. The process of moving [[Crypto (cryptocurrency)|crypto-currency]] ‘offline’, as a way of safekeeping your crypto-currency from hacking. There are a variety of ways to do this, but some methods most commonly used: - Printing out the [[QR Code]] of a [[Software wallet|software wallet]] and storing it somewhere safe, such as a safety deposit box. - Moving the files of a software wallet onto a USB drive and storing it somewhere safe. - Using a [[Hardware Wallet|hardware wallet]]. 4. A cold storage entity is an offline crypto [[wallet]] that has minimal contact with devices that are connected to the internet 24/7. As a result of this, these devices are able to offer their owners with a high level of asset security and privacy. 5. A way to hold or store a digital asset offline—without connection to the internet. Typical [[Cold Storage (wallet)|cold storage]] includes USB drives, offline computers, or [[Paper Wallet|paper wallets]]. Cold storage is the safest method of storing your [[Crypto (cryptocurrency)|cryptocurrency]] especially for wallet balances that you plan to keep untouched for a significant period of time. 6. A cold wallet is a [[Crypto (cryptocurrency)]] [[wallet]] that is not connected to the internet. Cold wallets most often come in the form of hardware wallets, which are physical devices that store[[Private Key| private keys]]. Cold wallets stand in contrast to hot wallets, which are connected to the internet. 8. [[Crypto (cryptocurrency)|Cryptocurrencies]] are un-hackable when [[Private Key|private keys]] remain offline. A cold [[Wallet|wallet]] is not connected to the internet and its data is irretrievable by any hacker or malicious entity. It may be a hardware wallet resembling a USB device or simply a [[Paper Wallet|paper-wallet]] which is a paper with a [[QR code]] and a private key on it. 9. The cold [[Wallet|wallet]] or cold storage in [[blockchain]] points out to an [[Offline Storage|offline wallet]] that is not connected to the internet ever. The cold wallets are helpful in safeguarding [[Crypto (cryptocurrency)|cryptocurrencies]] from online [[Attack (hack)|hacking attacks]]. 10. Cold wallets, also known as cold storage, refers to the method of storing virtual [[Crypto (cryptocurrency)|currencies]] such as [[bitcoin (BTC)|Bitcoin]] offline. This is the most safe and secure method of storing virtual currencies. It plays the role of a [[Wallet|wallet]] by keeping a reserve of Bitcoin or other virtual currencies. Since it is completely separated from the Internet, the risk of having one’s virtual currency stolen due to unauthorized access is greatly reduced. On the other hand, there are some wallets which remain connected to the Internet. These are called [[Hot Storage (wallet)|hot wallets]]. Types of cold wallets include[[Paper Wallet| paper wallets]] and [[Hardware Wallet|hardware wallets]]. Paper wallets are a printed form of wallet whereas hardware wallets are a tamper-proof electronic device used to store coins in an offline setting. [[Paper Wallet|Paper wallets]], as the name suggests, are pieces of paper on which important information like addresses and private keys are printed. Since they are offline, it is a very secure method of storage. Therefore, the chance of being hacked is significantly decreased. One potential downside of this method is the risk of becoming illegible due to the ink fading over time. [[Hardware Wallet|Hardware wallets]] are a type of [[Offline Storage|offline wallet ]]which stores users’ [[Private Key|private keys]] in a more secure hardware device. Since cold [[Wallet|wallets]] are not connected to the Internet, they are safeguarded from hacking. However, it is not suitable for frequently making deposits and withdrawals from them. Proper care must be given to avoid loss and theft. --- ![[Pasted image 20210430202754.png]] ![[Pasted image 20210430202805.png]] ![[Pasted image 20210430202821.png]]