0

Cold wallets are those that have never been connected to the internet, and are safer than hot ones, which have been exposed to it.

If I connect my HW wallet to a computer which is connected to the internet, I'm exposing my HW wallet to the internet. Does it stop being a cold wallet? Am I losing security by doing this?

0

2 Answers 2

0

Think we should probably start by stating the basics here:

  • Cold wallets are those that have never been connected to the internet, and are safer than hot ones, which have been exposed to it. | ** The Concept of and AirGapped Computer or a Completely Cold Wallet which has never been exposed (either directly or indirectly) to some kind of network is extremely rare [especially these days].**

In other words, if you're not using at least a couple ColdCards from (Coinkite)[https://coinkite.com] CORRECTLY(read the docs) | then we're not really talking about an air-gapped system which is completely immune to anything. It's cold storage : Offline, plain and simple.

To whit, the context of separating devices into

  • "Safe"
  • "Not Safe" is one where, 99.8675% of times the distinction settles within the most common of all flaws within systems : "The Human Factor"

If I connect my HW wallet to a computer which is connected to the internet, I'm exposing my HW wallet to the internet. Does it stop being a cold wallet? Am I losing security by doing this?

In, a nut-shell : yes. (I get where you're going with this and what you're actually trying to ask; the answer here however is a bit more complex).

  • assuming it was ever cold in the first place (I mean - you did have to fund it at some point right?).
  • are you losing security | The answer to this question depends upon your threat model. Meaning: What is security to you? Who are you trying to secure your funds from? What device are you using? Are you actually talking about security or annonimity ?

(Security, Privacy and Annonymity are entirely different Concepts)

In all honesty the best advice I can give you is own multiple Wallets, look into the ColdCard by CoinKite (link provided above) and please be sure to read the documentation so that you fully understand what you're doing and what't you're trying to ask.

On a personal note: I've got a hardware wallet which stays online 24/7 (the lattice1 by gridplus [i've cripled my entire device so that it only works via an rj45 ethernet jack connection | are my funds less secure? no.])

My advice: Buy a couple coldcard kits, microsd's and read the documentation. Personally I'd stray away from ledger's, trezors and the likes ... then again - we're talking about your funds not mine.

0

According to this article, HW wallets keep the private keys always offline. That is better than a normal pendriver, but still it's not pure cold storage.

2
  • 1
    Although it is true that some HWs keep the private keys offline ex: Blockstream Jade, Coldcard. Others like ledger are still technically in a class called hardware wallet but as of recently added firmware that keeps your seed phrase on centralized servers which are absolutely not offline news.yahoo.com/finance/news/…
    – Poseidon
    May 22, 2023 at 1:53
  • adding details to answer
    – Poseidon
    May 22, 2023 at 1:55

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.