Cold Storage Cryptocurrency Wallet. The idea that cold wallets hold crypto is a common misconception all over the internet. Cold storage, in this case, refers to storing your cryptocurrency offline.
First of all, cryptocurrency cold storage tends to be expensive. Holding on an exchange vs. A cold wallet is a cryptocurrency wallet that is not connected to the internet.
Another huge drawback is that cold wallets have a very limited variety of cryptocurrencies they can store.
Your cryptocurrency is now in deep cold storage, safely stored offline away from hackers and other types of digital risk! First of all, cryptocurrency cold storage tends to be expensive. It involves storing bitcoins offline—that is, entirely separate from any internet access. Cold storage simply means taking your cryptocurrency and transferring it into an offline storage vehicle.