Quote from: Maher92 on March 09, 2018, 07:44:00 PM

Hi every one !

I'm new in cryptocurrency, I'm trying to understand it but there still one thing I didn't understand about wallets!

At first , I know there is cold and worm wallet.
The cold is a hardware that store coins in it
And the warm is a software or a site on internet that store coins on internet or in the laptop or mobile ( is what I already know right ?)

But what I'm trying to know about soft wallets like Bitpay, Enjin or BitCoin Core wallets , do they store bitcoins on the device or on internet ?

So if l have bitcoins in my mobile wallet and the mobile drop in water and gone!, did the coins gone too or I can get them back in a new mobile by the recovery key?

And I'm sorry for my weak English Roll Eyes

Yes that is correct if you dropped cold wallet in water, or worst case lost it as long as you have your 12-24 random seed then you will be able to recover your coins by entering that info in and retrieving what was on that wallet. That's why when you buy a cold storage wallet they provide you the paper to write down your private key seed words as a backup. Whatever you do DON'T STORE ON THE EXCHANGE. This is how ppl. get hacked or exchanges like mt gox disappear and go under. Here is an ICO I believe in bc they allow you to hold your private keys yourself which protects you just like a cold wallet but with the access to arbitrage trade across the price differences that exist in world-wide crypto markets. They will bring in the masses into crypto I believe with this idea coupled with a really simple User interface.
https://bitcointalk.org/index.php?topic=3085831.msg31823480#msg31823480