PROS AND CONS - HOT & COLD WALLET
Hot Wallet Pros and Cons
⚪ Advantages
Internet-based so they allow easy access and perform several activities efficiently and from a range of devices.
Primarily free to use; some also require paying interest on the stored crypto.
⚪ Disadvantages
Unencrypted hot wallets are vulnerable to hacks because they are internet-enabled.
Unauthorized parties target these because they contain both public and private keys.
Some are accepted and accessible only in specified locations due to legal restrictions.
Cold Wallet Pros and Cons
⚪ Advantages
Enhanced security benefits mean there is no way to get hacked.
Full possession of your tokens because the private and public keys are in your control.
Portable.
⚪ Disadvantages
Easily lost.
Expensive, with the typical price range from $50 to $200.
Complex to use.
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