Store your crypto

Hot wallets vs cold wallets

3 years ago

Cryptocurrency wallets fall into two brackets: hot wallets and cold wallets — but which should you use? Well, that depends.

Hot Wallets

— “A hot wallet is any crypto wallet that’s somehow connected to the internet.”

It could be an account on an exchange like BitMart or Stex that you use to store the EUM you want to trade. This kind of wallet is the exchange’s hot wallet. And hot wallets are both easy to access and easy to use — making them a convenient option for traders or spenders who want easy access to their balance.

Cold Wallets

— “A cold wallet is any crypto wallet that is entirely offline with no internet connectivity.”

Cold wallets typically use a physical device to store crypto, which makes them more secure than their hot counterparts as there are fewer ways to hack such devices. Most prefer cold wallets as a storage option: Hodlers, in particular, tend to use cold storage devices like hardware wallets.

How does Elitium store crypto?

Elitium prizes security above all else. As such, we keep users’ funds secure by using cold storage wherever possible — meaning you can have full confidence your funds are safe when stored or staked with Elitium. That said, you can store EUM on any Ethereum-compatible wallet, so feel free to use your preferred solution.

Keep your cryptocurrency secure — store EUM in a recommended wallet.