Coinsdo Documentation
English
English
  • 👋Getting started
  • General
    • 📚CoinsDo Open API
      • 📗General
        • API URL
        • Supported networks
        • Supported Tokens
        • How to make API request
      • 📘CoinSend
        • Get device info
        • Adding a new approval device
        • Dispatch/Withdrawal
      • 📙CoinGet
        • Get deposit address
        • Callback notification
        • Convert BCH address
        • Manual Collection
        • Get address balance
    • 🖥️(Deprecated) Run on Windows Subsystem for Android
    • 🖥️Run on Ubuntu Desktop Environment
    • 🖥️Run on Google Cloud Platform (GCP) using QEMU
  • CoinWallet
    • Introduction
    • Setup
      • Creating a wallet
      • How to setup custom TEE
      • Import wallet
      • Exporting private keys
      • Add wallet addresses
    • How to
      • Recovering assets sent wrongly to another EVM-compatible network
      • Address Book
      • Add new token
      • Sending and receiving crypto currencies
      • Activity
      • How to activate EOS account
      • How to manually set gas fee?
      • What is Advanced Mode and how to turn on?
      • Reset wallet password
      • Add NFT
      • Send NFT
      • Delete Private Key
      • How to convert Ethereum's MATIC to POL?
    • FAQ
      • What is cold wallet?
      • What are gas fee?
      • What is inactive address/account on TRX?
      • What if I send crypto to a wrong address?
      • What is 'The address TRX balance is less than the gas fee required'?
      • How to recover assets wrongly transferred to the same address on different blockchain?
      • Why do I need to approve token?
  • CoinGet
    • About CoinGet
    • Setup
      • Add CoinGet Client
      • Configure Collection Address
      • Currency control
      • Receiving address
    • How to
      • Manual collection
      • Add receiving record
      • Add NFT project
      • Open EOS account
      • Activate Link for EVM-Compatible Networks
    • FAQ
  • CoinSend
    • About CoinSend
    • Setup
      • Add CoinSend Client
      • Setup Sub-Account and CoinSign
      • Authorize Sub-Account to approve transactions
      • Currency control
      • Add dispatch record
      • Approving dispatch record
    • How to
      • Dispatching record
      • Receiving record
      • Robot account
      • Reset password
      • Change sub-account password
      • Open EOS account
    • FAQ
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  1. CoinWallet
  2. FAQ

What is cold wallet?

A cold wallet, in the context of cryptocurrency and blockchain technology, refers to a type of digital wallet where the private keys required to access and manage cryptocurrency assets are stored offline, typically on a device that is not connected to the internet. Often misunderstood as hardware wallets, it's important to note that any device including an old mobile phone can serve as a cold wallet as long as it remains disconnected from the internet.

Unlike hot wallets, which are connected to the internet and provide convenient access for frequent transactions, cold wallets are kept offline for most of the time. This isolation helps protect the private keys from being compromised by hackers or malware.

Cold wallets can take various forms, including hardware wallets, paper wallets, and even memorized passphrases (known as brain wallets). They are often used for storing large amounts of cryptocurrency that users do not intend to access frequently. Despite their enhanced security features, cold wallets may require additional steps for transactions, such as manually signing transactions offline before broadcasting them to the blockchain network.

CoinWallet offers support for creating cold wallets across various major blockchains. It's crucial to use these cold wallets on offline devices to maintain their effectiveness; otherwise, their security benefits become moot.

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Last updated 1 year ago