The holder for the keys that move your crypto
A wallet does not hold coins; it holds the private keys that move them. A hot wallet stays connected to the internet and is convenient, while a cold wallet is kept offline and is harder to steal from. Lose the key and the balance cannot be retrieved, because no one can reissue it. If you leave assets with an exchange, the exchange holds the keys instead.
A recovery phrase is 12 to 24 words; lose it without a written copy and the balance stays out of reach.
For learning, not investment advice. Decisions are your own.
StockFit · TrueNorthLabs Inc.