Cold storage and why it is safer for longer time holding

[Moreno233]

I always know say anything wey dey connected to the internet no dey safe like the one wey no near Internet.  Na the same reason e be say cold storage dey safer than hot storage. I never use cold storage before but e get where I go reach, I go get am make I for see how e dey work. Na only time e go take make I teach the stage we I go need cold storage to take keep my Bitcoin wey I no wan wan touch for a very long time.

[Mia Chloe]

~snip

Getting a cold storage is good for long term Hodling obviously but I think one of the most important things people barely discuss is actually keeping that storage safe. Having a cold storage only isolates your wallet from the internet which is fine because of the many risks we are exposed to online.

However it doesn't automatically make you safe from offline threats. That aside I always advise people to have a written backup at all times sometimes electronic devices can be very unpredictable.

[Grace333]

Sure cold wallet is good but alot of us have been using self custodial hot wallet and it has been doing pretty fine. I'm not disputing the fact that is it's not the best choice of wallet for long term, but then if you know what you're doing self custodial wouldn't be a problem for you besides it's more secure than the way you put it to be in term of being vulnerable to hack or phishing scams. If you download the apps from their official site or from your trusted app store like playstore, apple store... you won't experience phishing scam.

[Out of mind]

Thanks again for this wonderful teaching Because many of us that is using cold and hot wallet they don't know before but with this your teachings you have exposed many things telling people that they should be indeed careful with their transactions when they are using the both wallets so that you can sleep very well and never to think of anything going wrong with your wallets, I think this your thread is a very good one and many people should learn from this, this is my first time hearing about this , I will take a quick check on my wallet if it cold or hot that I'm using.

Wallet-related issues are always important. When you make an investment in Bitcoin, you must first have good knowledge and experience about the wallet. It is important to always be careful about the security of transactions while using both cold wallets and hot wallets. Since you have heard these issues for the first time and you need to know and analyze them in more detail before investing. The more secure the wallet, the safer your money will be, so for the safety of your money, you must first know about the wallet and about the transaction. You must keep the wallets that you use safe, especially keeping the wallet keys in a safe place is the most important.