RE: The Layers Of Bitcoin
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For me Bitcoin is a Bitcoin - before reading this post...
What is Hot and cold storage - in simple language please..
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A hot wallet is a piece of software you download either on your computer or mobile phone that allows you to interact with the blockchain via their node/service. So like the wallet Jaxx, So you can create a wallet and have ownership of the keys and can move that wallet to any device and only you have access to the keys, but you're still using a device that can be hacked like a computer of a phone
A cold wallet is a device that is ONLY used to store cryptocurrency like a ledger hardware wallet or Trezor wallets. These small flash drive looking wallets allow for an additional level of safety since their software and hardware is only designed to store crypto that's it