Cold Wallet

Digital asset trust and security company BitGo has announced to offer custodial services to India’s leading crypto exchange CoinDCX, through a recent partnership. According to the recent announcement, BitGo has started storing digital assets held by CoinDCX crypto exchange. With BitGo’s protection, CoinDCX believes that the users’ funds with them are completely safe and makes the exchange one of the safest crypto trading platforms in the world. CoinDCX claims that their utmost priority is to ensure that all the security…

The HODL Gang There is no shortage of malpractices in the crypto market. Plus, the amassing greed, negligence of fundamentals, and other types of human errors all contribute to the constant loss of funds. For example, Fortune Magazine reported that about 4 million Bitcoins had been lost forever. This happened because many people who held bitcoin in their wallets either forgot their passwords or lost their backup phrases. HODL is what we in the market keep telling each other about…

The annals of the crypto industry are flooded with numerous security breaches, which led to the loss of vast amounts of money. Mention a few cases of Mt. Gox, Coinrail, Cryptopia, etc., which have contributed to the slow mass adoption of cryptocurrencies. Storing private keys on online computers or interacting with websites are some routes through which hackers steal the funds of crypto users, hence the need to keep private keys offline or in a cold state. On the other…

With exchange wallets being the least secure and total air-gapped devices (cold wallets) or paper wallets being the most secure, hardware wallets come in between. Hardware wallets are devices that create and store your private keys. It is safer than other wallets because the keys are only stored inside the device, which is kept offline. In most cases, when a transaction has to be made, the device will be physically connected to online software, usually through Bluetooth or USB. The…