How to integrate Cold Wallet in Cryptocurrency Exchange? - ICO App Factory
What is the difference between a Hot Wallet & a Cold Wallet Storage? Hot Wallets are the ones that reside online connected to the other blockchains or is under an exchange. Unprotected Hot wallets are prone to attack and the exchange owner may lose access to the wallet or might lose the cryptocurrencies belonging to their users. In the recent times, even popular cryptocurrency wallets like Coinbase have been hacked. Cold Wallets: Cold Wallets are physical hardware wallets that are are password protected, air gapped from the internet and the data is encrypted.All you have to do is transfer the cryptocurrencies to the cold wallet and they are safely stored and with you all the time. Cold wallets are safe and cannot be attacked since it is not connected to the internet. What Cold Wallets are supported? Trezor is supported out of the box, but we are working to bring in connectivity to other Cold Wallets as well. Top 3 reasons to own this Cold Wallet Integration...