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.
I think you the safest keep bitcoins option is a hardware wallet which you keep offline, in a secure place. Because there are several different types of wallets you can use to store and manage your digital assets. Method of cold storage include keeping bitcoins. On a USB drive or other storage media. On a paper wallet . Use a offline bitcoin hardware wallet is the best bitcoin wallet.
Yup! Offline wallets are better for keeping and storing your money for a long term.