pull down to refresh

Hot Wallet - Cold Wallet - Hardware Wallet (what's the right name?)
184 sats \ 7 comments \ @_Bubble_2009 26 May AskSN
Recently, I managed to create a Reddit account that wasn't immediately Shadowbanned.
Reading some posts on Reddit, I had doubts about the correct nomenclature and so I wanted to discuss it with you.
I have always used these terms:
  • Cold Wallet: for a wallet with few found for small end minor transactions
  • Hot Wallet: for a wallet with the bulk of the capital
  • Hardware Wallet: a hardware device with which to sign transactions and on which to store the seed
On Reddit, however, they call what I call Hardware Wallet with the term Hot Wallet and this confuses me.
The point is that with a hardware wallet, I can store even more than one seed and, indeed, it is highly recommended to have a Cold and a Hot wallet on your Hardware Wallet.
How do you use these terms? Are there any other terms you use other than these?
write
preview
related posts
10 sats \ 3 replies \ @Alice_and_the_Wonderland 26 May
the term Cold refers to something that it never touches internet at all. You create seed directly on the cold wallet(usually Cold Card or Jade like Hardware Wallet) and leave it as airgapped state.
Hot refers something that it always connects to internet like your full node, which you can sign the txn and broadcast to the mempool right away.
People usually store large sum on Cold wallet, but amount doesn't matter. Checkout Darthcoin's 3 level stash guide
reply
0 sats \ 2 replies \ @_Bubble_2009 OP 26 May
I've make a mistake in my post:
  • Hot Wallet: for a wallet with few found for small end minor transactions
  • Cold Wallet: for a wallet with the bulk of the capital
  • Hardware Wallet: a hardware device with which to sign transactions and on which to store the seed
the term Cold refers to something that it never touches internet at all. You create seed directly on the cold wallet(usually Cold Card or Jade like Hardware Wallet) and leave it as airgapped state. Hot refers something that it always connects to internet like your full node, which you can sign the txn and broadcast to the mempool right away.
This is exactly my opinion, but in similar topic: https://www.reddit.com/r/Bitcoin/s/s7MQmfWVVN
People refer to the Hardware Wallet and not the actual wallet when it comes to the Cold Wallet.
reply
0 sats \ 1 reply \ @Alice_and_the_Wonderland 26 May
Cold Wallet
Hardware Wallet
this is what I believe.
cold wallet can be anything as long as it signs transaction in airgapped state.
not the actual wallet when it comes to the Cold Wallet
Could you clarify what you mean by "actual wallet"?
reply
0 sats \ 0 replies \ @_Bubble_2009 OP 26 May
If we consider the operation of a Hardware Wallet, this is used to sign transactions and keep the seed safe. So what we call a hardware wallet is mostly a signature device.
For this reason, a hardware wallet relies on a Cold wallet or perhaps both a Cold wallet and a Lukewarm Wallet
(this is my opinion)
reply
0 sats \ 2 replies \ @realBitcoinDog 26 May
Hardware wallet
Just cuz u use hardware (iPhone) for your hot wallet doesn’t mean it’s hw. I don’t care if it’s a secure chip. Phone is online. Anyone watching your screen sees everything
reply
10 sats \ 1 reply \ @_Bubble_2009 OP 27 May
Hardware wallet Just cuz u use hardware (iPhone) for your hot wallet doesn’t mean it’s hw. I don’t care if it’s a secure chip. Phone is online. Anyone watching your screen sees everything
In fact, by hardware wallet I mean a hardware with or without secure elements, but disconnected from the internet. For this reason, I continue to maintain that a Cold Wallet and a Hardware Wallet are two very different things.
Just to point out, I would never trust Apple's secure element, I would prefer that of a Pixel with a FOSS system such as LineageOS or GrapheneOS on it
reply
0 sats \ 0 replies \ @realBitcoinDog 19h
💯
reply