teachin_bitcoin on Nostr: https://www.teach-me-bitcoin-son.com/media//generated/what-cold-storage.png Dad: Son, ...
Dad: Son, what is "Cold Storage" exactly?
Son: Hi Dad,
"Cold storage" is a general term for different ways of securing bitcoins offline. Your signing keys are disconnected from the internet.
Dad: So "BlueWallet" must be a hot wallet?
Son: Yes. It's connected to the internet. This is perfectly fine for daily transactions and smaller amounts.
For storing funds long term, use a dedicated hardware wallet like the "Coldcard" or the "Passport". However, multisig – a "signing combination" of various wallet – would be the best solution.
#Bitcoin
Published at
2024-11-04 10:27:43Event JSON
{
"id": "06ed6a23ea2627c77f6bb9caae8723e2116a16103cd512241eca732d22eea1f6",
"pubkey": "e0893162d4045dd1113c6e1c29f70c47bb7461abed042b6c33308fe7d96d2502",
"created_at": 1730716063,
"kind": 1,
"tags": [],
"content": "https://www.teach-me-bitcoin-son.com/media//generated/what-cold-storage.png\n\nDad: Son, what is \"Cold Storage\" exactly?\nSon: Hi Dad,\n\"Cold storage\" is a general term for different ways of securing bitcoins offline. Your signing keys are disconnected from the internet.\nDad: So \"BlueWallet\" must be a hot wallet?\nSon: Yes. It's connected to the internet. This is perfectly fine for daily transactions and smaller amounts.\nFor storing funds long term, use a dedicated hardware wallet like the \"Coldcard\" or the \"Passport\". However, multisig – a \"signing combination\" of various wallet – would be the best solution.\n\n\n#Bitcoin",
"sig": "82f3592424c66e32b25d0b325427cac1f64b07e428564248126041e6064443a8ec94bf4809b21a457c9446ce3b02168c77b5834d699d84f649e30a021439c939"
}
