Replying to Avatar Diesel

What does the average bitcoiner mean when they say ‘cold storage’? Is it just the fact that I’m holding my own keys? Is it something more? Genuinely curious at some responses here #asknostr
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utxo the webmaster 🧑‍💻 2y ago

You hold your keys offline, either on paper or a hardware wallet/signing device

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Diesel 2y ago

Simple enough, so by definition my Muun wallet is cold storage if I have my recovery code written down somewhere, not saved in the cloud, yeah?

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utxo the webmaster 🧑‍💻 2y ago

No, your keys are on the phone which is connected to the Internet, so it's a hot wallet

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Diesel 2y ago

I misunderstood initially. Basically then it’s cold if the device is not always connected to the internet, obviously like a Trezor, cold card, jade, etc.