CryptoURANUS Economics: Cold Storage: Defined in CryptoCurrency

Anti-AdBlocker

Sunday, August 5, 2018

Cold Storage: Defined in CryptoCurrency

Cold Storage: Defined in CryptoCurrency

Cold storage is defined as digital data storage that takes longer to access and quite often is not connected to the Internet. Also known as a “cold wallet”.


Unlike hot storage, cold storage is typically not connected to any computer, network, or the Internet. Cold storage always has longer access times than hot storage. Longer access times means greater control and security.

There are many ways to set up cold storage. The common techniques include:
  • Putting the data in an unplugged computer.
  • Purchasing and using a designed and secure USB known as a “hardware wallet”.
  • Storing the access codes on a piece of paper known as a “paper wallet”.

No comments: