Does anybody know how cold is the Coinbase cold storage?
I'm not really into Coinbase but when I read about their cold storage I become a little bit skeptical: for example, how do they process withdrawals in a cold storage system?
And what does this mean?
Up to 97% of customer funds are stored offline.
Do they store X BTC in Y wallets, and then store private keys in a cold storage (shouldn't this approach make several transaction fees pop out when withdrawing)?