We use both hot and cold storage for crypto assets. As a payments company, we typically hold customer funds only for a short time while they’re on the way to their destination. Because of this we primarily use hot storage.
What is the difference between cold and hot storage?
Hot storage, also known as a ‘hot wallet’ refers to an internet-connected online wallet that can only be accessed via an online connection.
Cold storage or a ‘cold wallet’, on the other hand, refers to an offline wallet where the cryptocurrency stored is not accessible on the web server or any other online device.