cold wallet


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cold wallet

A cryptocurrency wallet that cannot be compromised because it is not connected to the Internet. Also called a "hardware wallet" and "offline wallet," the cold wallet stores the user's address and private key and works in conjunction with compatible software in the computer. Contrast with "hot wallet," which resides in the user's desktop or mobile device or in a cloud-based service, all of which are online to the Internet and can be hacked. See Bitcoin wallet.

Trezor Wallet - Only Hot for a Few Minutes
This cryptocurrency hardware wallet is only "hot" while it is plugged into the computer to make a transaction. When unplugged, it is "cold" and safe from eavesdropping. (Image courtesy of SatoshiLabs, www.trezor.io)
References in periodicals archive ?
cold wallet is one that is disconnected from the internet.
The company added that it has already sourced technologies for both payment platforms and the Cold Wallet and expects to have a working model in the coming weeks.
The Taiwan based smartphone manufacturer is also planning to soon launch a new blockchain-based smartphone called 'Exodus ', which is said to be the "world's first major blockchain phone." HTC says that the phone will be revealed sometime in Q3, 2018 and ahead of the launch, the company has teamed up with a blockchain-based title called CryptoKitties, which is the "world's biggest game to be built on blockchain technology." Exodus is said to be "The first cold wallet phone with key recovery" and HTC has promised to share some more information on the blockchain phone in the coming months.
For these reasons, many cryptocurrency investors recommend storing your coins not in a wallet that's controlled by an exchange, but rather in a cold wallet that you control.
Coinsuper will adopt BitUN's leading multi-layer technology solution for hot and cold wallet separation, thereby ensuring investor transaction and digital asset security.
"Currently, the safest means for cryptocurrency transactions is a cold wallet that cannot work without a laptop.
The stolen Coincheck money is thought to have been kept in a "hot wallet" in the internet - as opposed to a cold wallet where funds are stored offline.
Users' fiat deposits are kept in segregated client bank accounts, while their digital currencies are stored on a multisig cold wallet and the system is continuously monitored and audited by an external IT security firm.
The report on the trademark filings was then followed by a report from (https://www.sammobile.com/2018/12/11/exclusive-samsung-bitcoin-app-cold-wallet-cryptocurrencies/?_ga=2.159188857.2106621891.1544505488-1760868200.1543328132) SamMobile , claiming that Samsung is preparing a service that would allow users to save cryptocurrency, like bitcoin, in a cold wallet. The service would also allegedly allow users to have public and private keys and they would have the ability to sign private keys for transferring cryptocurrency.
The firm had showed its cold wallet address to prove that is solvent.
Meanwhile, the htcexodus.com website dedicated to the device has gone live and it states that Exodus is "The first cold wallet phone with key recovery."
Bithumb immediately transferred 70 percent of virtual coins into a cold wallet following the attempts,' a Bithumb official told The Korea Times.