Crypto Custody: Cold Storage vs. Hot Wallets

This is a news story, published by CNBC, that relates primarily to Casa news.

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crypto custody debate

CNBC

•

Business

Business & Economics

For bitcoin bulls who self-custody crypto, the global risks are growing

Summary

Nutrition label

78% Informative

Some cryptocurrency investors prefer to custody their own digital assets with private keys stored on hardware wallets in "cold storage" The standard third -party platform "hot wallet" is constantly connected to the internet.

Cold storage and "cold wallets" include hardware devices (like a USB stick) that holds private keys offline, or even just a seed phrase (a master recovery code) on paper/metal).

Best practices that we use in other areas of personal life should apply to cryptocurrency, expert says.

Companies like Casa and Block offer products that try to merge some of these ideas, creating a more secure version of a crypto wallet that remains convenient to use.

Casa 's five -key approach should significantly limit the potential for all of the devices to be lost in an event like a natural disaster.

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informal

Language

English

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not offensive

Hate speech