I am confused on how cold wallets and hot wallets differ. To make any transaction we still need to get access to internet. Then how are they different?
Being connected to the internet makes the wallet hot and every wallet needs to connect to the internet for any transactions.
Cold wallet is for storing your bitcoins in offline mode..It prevents unauthorized access and also from hacking when you have more number of bitcoins !!Being connected to the internet makes the wallet hot and every wallet needs to connect to the internet for any transactions.
