Cold Storage
By CoinGecko | Updated on Mar 03, 2020
In contrast to hot storage which are typically online to allow for fast deposit/withdrawal, cold storage refers to the offline storage of cryptocurrencies through the use of hardware non-custodial wallets, wallet files stored in USB or offline computers, as well as paper wallets.
Related Terms
Bagholder
A person who is holding a large quantity of cryptocurrency which is declining in value or becoming worthless
Cold Wallet
Wallets that are offline and require physical access to certain devices (eg. hardware wallet, paper wallets)
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
MicroBitcoin (uBTC)
One millionth of a bitcoin or 0.000001 of a bitcoin. Microbitcoin is the abbreviation of uBTC and often misunderstood as the fork of Bitcoin.
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