Crypto 101: The difference between hot and cold wallets – Naples FL

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There are different kinds of cryptocurrency wallets, and the four terms to keep in mind when purchasing one are hot, cold, custodial, and non-custodial. Here’s what they all mean.

Bitcoin transfer on iPhone

A cryptocurrency wallet is an app or device used to access cryptocurrency coins and tokens. Unlike a traditional wallet, a crypto wallet does not store coins. Cryptocurrency stays on a blockchain and is accessed with a private key.