Noel Plum | What Exactly Are Crypto Hot and Cold Wallets? @noelplum99 | Uploaded 1 year ago | Updated 2 minutes ago
So-called Hot and Cold Crypto Wallets seem to cause a lot of confusion to a lot of people, perhaps because they are so badly named?
In this video I try and analogise these devices for reporting blockchain balances and authorising blockchain transactions via a couple of simply analogies that I personally found useful in structuring my own understanding.
00:00 Introduction
02:16 What ISN'T a Hot Wallet?
04:11 So what IS a Hot Wallet then?
05:17 Extending the analogy to public and private keys
07:56 Why Cold Wallets are even LESS wallets than Hot Wallets!
08:28 A great way to simply visualise how Hot and Cold Wallets work
13:03 How a Hot Wallet signs a transaction using the joke/punchline analogy
14:15 How a Cold Wallet protects your "comedian"
16:30 Summing Up
My Patreon account for anyone enjoying my content and so motivated to support my videos here on YouTube:
patreon.com/noelplum99
My twitter account, in case any of you wish to follow or engage with me there:
twitter.com/noelplum
So-called Hot and Cold Crypto Wallets seem to cause a lot of confusion to a lot of people, perhaps because they are so badly named?
In this video I try and analogise these devices for reporting blockchain balances and authorising blockchain transactions via a couple of simply analogies that I personally found useful in structuring my own understanding.
00:00 Introduction
02:16 What ISN'T a Hot Wallet?
04:11 So what IS a Hot Wallet then?
05:17 Extending the analogy to public and private keys
07:56 Why Cold Wallets are even LESS wallets than Hot Wallets!
08:28 A great way to simply visualise how Hot and Cold Wallets work
13:03 How a Hot Wallet signs a transaction using the joke/punchline analogy
14:15 How a Cold Wallet protects your "comedian"
16:30 Summing Up
My Patreon account for anyone enjoying my content and so motivated to support my videos here on YouTube:
patreon.com/noelplum99
My twitter account, in case any of you wish to follow or engage with me there:
twitter.com/noelplum