TERM: Cold Storage

Cold Storage

When cryptocurrency is stored offline, as in not on any device that is interconnected with any other devices (computer, web server, phone, etc.).

This is done as a safety precaution to eliminate potential attack vectors such as someone hacking a computer/server and gaining access to funds.

EXAMPLE USAGE:

Tod holds his cryptocurrency in cold storage, by writing down his private keys on a piece of paper and keeping them in a bank vault.

James C. doesn't have a picture.
James C.
Posted on March 15th, 2019
Other Definitions