You must have a cold wallet to keep your cryptocurrency safe
In February 2014, Mt.Gox, the largest bitcoin exchange in the world at the time, suffered a hacking attack, and the exchange lost about 650,000 bitcoins. Mt.Gox collapsed overnight, filed for bankruptcy, and investors suffered heavy losses.
In 2015, about 120,000 bitcoins were stolen from the bitcoin exchange Bitfinex, which shocked all bitcoin investors, and everyone was worried about the safety of their digital currency.
In August 2021, Poly Network, a cross-chain decentralized finance (DeFi) platform, was attacked by hackers, and about $611 million worth of cryptocurrencies including ETH and BSC were “looted”.
These three incidents of theft of cryptocurrencies all have one common feature. The cryptocurrencies are all stored on the networked cryptocurrency exchange platform, and the platform was successfully invaded by hackers, resulting in heavy losses.
In fact, all major exchanges are the same, always facing the threat of being attacked by hackers. Various incidents show that there is a need for a relatively safe storage and transaction method to ensure the safety of users’ digital currency, and this relatively safe option is to use cold wallets .
A cold wallet is a wallet that stores digital currency off the Internet. There are professional hardware wallets, and you can also make cold wallets by yourself using devices that are not connected to the Internet.
Speaking of cold wallets, I have to mention saletone, which is the world’s largest and most secure cold wallet device provider.
The Salletone cold wallet consists of two parts: a hardware cold wallet device and an app. The storage function of the hardware cold wallet is similar to that of a hard drive. When conducting cryptocurrency transactions, each transaction requires a cold wallet for digital signature verification; the APP needs to be used in conjunction with the hardware wallet, which is mainly used to view the amount and value of assets in the hardware wallet, collet and transfer, automaticly detect transaction confirmation, and view the latest cryptocurrency prices at any time. open and transparent information, APP never touches the private key.
The biggest pro of cold wallets is that the security of digital currency is greatly improved. However, the con is also obvious, the deposit and withdrawal of cryptocurrency assets has become relatively troublesome. In terms of security alone, this is acceptable since security is always the top priority after all when it comes to cryptocurrency storage.
Salletone Website and purchase address: https://www.salletone.com/?r=front/product
