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What Exactly Are Crypto Hot and Cold Wallets?



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So-called Hot and Cold Crypto Wallets seem to cause a lot of confusion to a lot of people, perhaps because they are so badly named?
In this video I try and analogise these devices for reporting blockchain balances and authorising blockchain transactions via a couple of simply analogies that I personally found useful in structuring my own understanding.

00:00 Introduction
02:16 What ISN'T a Hot Wallet?
04:11 So what IS a Hot Wallet then?
05:17 Extending the analogy to public and private keys
07:56 Why Cold Wallets are even LESS wallets than Hot Wallets!
08:28 A great way to simply visualise how Hot and Cold Wallets work
13:03 How a Hot Wallet signs a transaction using the joke/punchline analogy
14:15 How a Cold Wallet protects your "comedian"
16:30 Summing Up

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Category
Cryptocurrencies
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