TEACH ME BITCOIN, SON. on Nostr: Dad: Son, what is "Cold Storage" exactly? Son: Hi Dad, "Cold storage" is a general ...
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
2024-06-17 07:05:41Event JSON
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"pubkey": "e0893162d4045dd1113c6e1c29f70c47bb7461abed042b6c33308fe7d96d2502",
"created_at": 1718607941,
"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": "97255e7366425ebf51eeb9a2fb3eb16435578b0f28fd0d57b10ddb8d492824daf02e1b25fe29ed38dc28d1726011b2d2adf5cb25322c54d4ad9652317497e03e"
}
