Why Nostr? What is Njump?
2024-06-17 07:05:41

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
Author Public Key
npub1uzynzck5q3wazyfudcwznacvg7ahgcdta5zzkmpnxz870ktdy5pqr7y7g3