Is cold wallet better

[MAHICO]

Could you please clarify for me what a cold wallet actually is?

You have to learn about cold wallets and hot wallets at the same time in order to be able to differentiate these wallets.

• What are the different types of wallets?
• You will have information about software wallets aka. hot wallets, and hardware wallets aka. cold wallets.

From your link I read and understand that Cold wallet is basically called hardware wallet. Where it is offline. It is like a device. Which is much more secure. I understood this much. If there is no internet then how do bitcoin transactions take place?
Since this is more secure then do those who hold a lot of bitcoin use it?
If you keep bitcoin in a normal wallet then how can this wallet be hacked? As far as I know, bitcoin wallets cannot be hacked.

[hosemary]

From your link I read and understand that Cold wallet is basically called hardware wallet.

A cold wallet isn't necessarily a hardware wallet.
If you generate your private keys on an air-gapped device and keep them offline, you have a cold wallet.

If there is no internet then how do bitcoin transactions take place?

In a cold wallet, you sign your transaction your offline and you still need internet connection for broadcasting the signed transaction.

Since this is more secure then do those who hold a lot of bitcoin use it?

It's always recommnded to use a cold wallet, especially if you have large amount of funds.

If you keep bitcoin in a normal wallet then how can this wallet be hacked? As far as I know, bitcoin wallets cannot be hacked.

Any online device is always prone to hacking and many people have lost their funds in that way.