{"id":1874,"date":"2019-05-22T01:32:00","date_gmt":"2019-05-21T17:32:00","guid":{"rendered":"https:\/\/www.coincola.com\/blog\/?p=1874"},"modified":"2019-06-14T19:11:30","modified_gmt":"2019-06-14T11:11:30","slug":"3-types-of-crypto-wallets-you-should-know-about","status":"publish","type":"post","link":"\/blog\/3-types-of-crypto-wallets-you-should-know-about\/","title":{"rendered":"3 Types of Crypto Wallets You should Know about"},"content":{"rendered":"

If you\u2019re reading this, you already know about cryptocurrencies like Bitcoin. What you may <\/span>not<\/span><\/i> know is that there are 3 main ways to store your crypto tokens, or coins, after acquiring them. In this article, we\u2019ll cover all of them starting with..<\/span><\/p>\n

Hot Wallets<\/span><\/h2>\n

A hot wallet is connected to an Internet. It\u2019s where your crypto ends up if you buy via an OTC marketplace, an exchange, or get via a transfer. It\u2019s very convenient in that making a transaction or receiving payment is instant and uncomplicated. <\/span><\/p>\n

There are several ways to get a hot wallet. If you open an account with CoinCola, whether it\u2019s for our OTC marketplace or exchange, we give you a hot wallet. You can then use it to trade on our platforms – or to store your money. <\/span><\/p>\n

Alternatively, you may choose to get a software wallet that lets you retain complete control of ownership. The downside to that is if you lose access, you won’t be able to restore it via a \u201cForgot My Password\u201d procedure as you would with CoinCola. <\/span><\/p>\n

The main upside too hot wallets is that they\u2019re convenient and easy to make. An important downside is that you can lose your money easily via: <\/span><\/p>\n

    \n
  1. Loss of access, wherein you forget or lose ownership of your wallet and can\u2019t recover it. <\/span><\/li>\n
  2. Loss of funds, wherein someone accesses your hot wallet and siphons money out of it.<\/span><\/li>\n
  3. And other mechanisms<\/span><\/li>\n<\/ol>\n

    Cold Wallets<\/span><\/h2>\n

    A cold wallet is one that\u2019s not connected to the Internet. Itt can come in the form of a piece of paper with a code on it, a USB drive, etc. Cold storage is what CoinCola uses to keep the bulk of customers\u2019 funds – and here\u2019s why. <\/span><\/p>\n

    A cold wallet tis a lot harder to lose access to than a hot one. Provided you keep the physical or digital carrier itt\u2019s linked to – e.g. the piece of paper a Bitcoin cold wallet was printed to – you can\u2019t lose your money. <\/span><\/p>\n

    The concern with cold wallets is that if you <\/span>do<\/span><\/i> lose them, they are 100% impossible to recover – even more so than hot wallets. That\u2019s why many CoinCola users prefer to use our hot wallet, knowing that <\/span>we<\/span><\/i> keep a lot of users\u2019 funds in cold storage. <\/span><\/p>\n

    Last but not least, there are…<\/span><\/p>\n

    Warm Wallets<\/span><\/h2>\n

    Warm wallets are the newest category in our list. They\u2019re experimental and new, to the point that they work with few exchanges, marketplaces, and cryptocurrencies. Here\u2019s how they work. <\/span><\/p>\n

    Anytime you want to make a transaction or payment, you make an \u201cintent to move\u201d block that registers your impending action. Afterwards, there\u2019s a time period within which your transaction can be cancelled. <\/span><\/p>\n

    This means that warm wallets work like hot wallets with an \u201cundo\u201d button: an important feature that helps prevent fraud, theft, mismanagement, and more. <\/span><\/p>\n

    Warm wallets may not be as secure as cold storage – but they\u2019re a good way to improve on hot wallets, which aren\u2019t always secure. <\/span><\/p>\n

     <\/p>\n

    —-<\/span><\/p>\n

    Now, the truth is that for now, you\u2019re unlikely to get a warm wallet. Instead, what you may want to do is find a reliable cold wallet for large amounts and a convenient hot wallet for smaller transactions. <\/span><\/p>\n

    For the latter, consider checking out our platform: CoinCola.com. We use multiple security mechanisms, like SSL certificates and cold storage for users\u2019 funds, to protect your crypto assets – and all you need to do to get started is visit <\/span>www.coincola.com<\/span><\/a>. <\/span><\/p>\n

    \n
    \"sign<\/a><\/figure>\n<\/div>\n

    Follow CoinCola on Social Media<\/strong><\/h3>\n

    Twitter: https:\/\/twitter.com\/CoinCola_Global<\/a>
    \nFacebook:     https:\/\/www.facebook.com\/CoinCola\/<\/a>
    \nInstagram:     https:\/\/www.instagram.com\/CoinCola\/<\/a>
    \nLinkedIn:     https:\/\/www.linkedin.com\/company\/coincola\/<\/a><\/p>\n

    About CoinCola<\/strong><\/h3>\n

    Founded in 2016, CoinCola is a Hong Kong based company offering both over-the-counter<\/a> cryptocurrency trading and crypto-to-crypto pair trading exchange<\/a>. CoinCola now serves millions of users from over 150 countries with our fast, secure, and reliable trading services. We support BTC, ETH, BCH, LTC, USDT, DASH, and XRP. Visit www.coincola.com<\/a> to invest in digital assets.<\/p>\n

    Disclaimer: Trading and investing in cryptocurrencies, also called digital currencies, crypto assets, and so on) involves substantial risk of loss. All informations are used at your own risk, and any content on this site should not be relied upon as advice or construed as providing recommendation of any kind.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    If you\u2019re reading this, you already know about cryptocu…<\/p>\n","protected":false},"author":12,"featured_media":1882,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false},"categories":[87],"tags":[215,214],"yoast_head":"\n3 Types of Crypto Wallets You should Know about - CoinCola Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coincola.com\/blog\/3-types-of-crypto-wallets-you-should-know-about\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Types of Crypto Wallets You should Know about - CoinCola Blog\" \/>\n<meta property=\"og:description\" content=\"If you\u2019re reading this, you already know about cryptocu...\" \/>\n<meta property=\"og:url\" content=\"\/blog\/3-types-of-crypto-wallets-you-should-know-about\/\" \/>\n<meta property=\"og:site_name\" content=\"CoinCola Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CoinColaGlobal\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-21T17:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-14T11:11:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.coincola.com\/blog\/wp-content\/uploads\/2019\/05\/Screen-Shot-2019-05-14-at-1.36.58-PM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"597\" \/>\n\t<meta property=\"og:image:height\" content=\"307\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"January\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CoinCola_Global\" \/>\n<meta name=\"twitter:site\" content=\"@CoinCola_Global\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"January\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4\" \/>\n\t<meta name=\"twitter:data2\" content=\"4\u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"\/blog\/3-types-of-crypto-wallets-you-should-know-about\/\",\"url\":\"https:\/\/www.coincola.com\/blog\/3-types-of-crypto-wallets-you-should-know-about\/\",\"name\":\"3 Types of Crypto Wallets You should Know about - CoinCola Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.coincola.com\/blog\/#website\"},\"datePublished\":\"2019-05-21T17:32:00+00:00\",\"dateModified\":\"2019-06-14T11:11:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.coincola.com\/blog\/#\/schema\/person\/6dcc2d959cf696f451f1ca8dfa54494b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.coincola.com\/blog\/3-types-of-crypto-wallets-you-should-know-about\/#breadcrumb\"},\"inLanguage\":\"zh-CN\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.coincola.com\/blog\/3-types-of-crypto-wallets-you-should-know-about\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.coincola.com\/blog\/3-types-of-crypto-wallets-you-should-know-about\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.coincola.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"3 Types of Crypto Wallets You should Know about\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.coincola.com\/blog\/#website\",\"url\":\"https:\/\/www.coincola.com\/blog\/\",\"name\":\"CoinCola Blog\",\"description\":\"Buy and Sell Bitcoin\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.coincola.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"zh-CN\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.coincola.com\/blog\/#\/schema\/person\/6dcc2d959cf696f451f1ca8dfa54494b\",\"name\":\"January\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-CN\",\"@id\":\"https:\/\/www.coincola.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/37f0f8d44bd541ca0a57797bea700179?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/37f0f8d44bd541ca0a57797bea700179?s=96&d=mm&r=g\",\"caption\":\"January\"},\"description\":\"Yo, I'm all about that sweet spot where finance and tech collide. 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