Cold Wallet
A cold wallet is a type of cryptocurrency wallet that stores assets offline, typically without an internet connection. Due to its offline nature, cold wallets offer high security, effectively preventing hacking and online theft. Common forms of cold wallets include hardware wallets and paper wallets (where private keys are printed on paper). When you download the CoinEx Vault App on your mobile device, you need to keep the device offline at all times, as your device is equivalent to a hardware wallet.
Cold wallets are suitable for long-term storage of large amounts of cryptocurrency, but transactions require manual operations, making them less convenient.
Hot Wallet
A hot wallet is a wallet that stores cryptocurrencies online, always connected to the internet. Hot wallets facilitate quick transactions and everyday use, but are less secure than cold wallets. Common forms of hot wallets include exchange wallets, mobile wallets (e.g., CoinEx Wallet), and desktop wallets.
Hot wallets are suitable for frequent transactions and experiencing DeFi interaction with higher convenience.
CoinEx Vault innovatively combines on-chain wallets (official website) + off-chain approval (app) to maximize the security of your assets.