INSUBCONTINENT EXCLUSIVE:
Hot wallets are online wallets and remain connected to the Internet most of the timeYes, cryptocurrency is the talk of the town but there
remains so much to learn about it
Simply speaking, custody services are storage solutions for your cryptocurrency
This is a safe and secure storage for the much-valued asset
cryptocurrency, it's on the vulnerability of digital tokens
And, while there already are so many solutions, including hot and cold wallets, to address the safety concerns, cryptocurrency custody
providers take everything a notch up
offer the same services as a crypto wallet does, what's the difference? While the wallets are for one and all, the cryptocurrency custody
services are primarily intended for institutional investors, including hedge funds, and those holding large amounts of bitcoin or other
digital tokens.Hot wallets are online wallets and remain connected to the Internet most of the time, making them prone to hacks, while cold
wallets store your crypto funds offline, which automatically makes them more secure
According to a report in ULAM Labs, to offer the highest level of security, the best crypto custodians often utilise a combination of hot
and cold wallets.What's the most important thing to keep in mind as far as the security of your crypto funds is concerned?Well, the
primary responsibility, no matter how small or large your funds, is to protect your private keys and backups
Not just that, the private keys and backs must be kept separately to protect them from any harm internally as well as externally
And that's where professional crypto custodians may help a great deal
They deploy special security measures against the d risk concerning the confidentiality, availability and integrity of the private keys and
