Dad: Son, what is "Cold Storage" exactly?

Son: Hi Dad,

"Cold storage" is a general term for different ways of securing bitcoins offline. Your signing keys are disconnected from the internet.

Dad: So "BlueWallet" must be a hot wallet?

Son: Yes. It's connected to the internet. This is perfectly fine for daily transactions and smaller amounts.

For storing funds long term, use a dedicated hardware wallet like the "Coldcard" or the "Passport". However, multisig – a "signing combination" of various wallet – would be the best solution.

#Bitcoin