Difference between blockchain.info and cold storage

Question

I have a wallet on Blockchain.info, but I don't really understand how it works.

They say that they don't store my password nor have access to my funds. Does it mean that it's somehow a cold storage? I have had my coins for quite a while, so I was wondering if I could get Bitcoin Cash. However, I see that I should export my private key, but this is only possible from imported addresses.

So what is the difference between having my coins at Blockchain.info compared to having the stored on my own computer? Will it be possible to export a private key from Blockchain.info if I simply have a normal wallet at their website?

Answer 1

Does it mean that it's somehow a cold storage?

No. Cold storage means that the private keys for your Bitcoin are held in an offline machine and are never online. Using blockchain.info means that you are online, and the private keys are held in your browser. Furthermore, cold storage means that you have sole control of your private keys; with blockchain.info, you don't. Blockchain.info (or a malicious man-in-the-middle) can control your private keys by giving you bad javascript on the web page which steals your private keys.

So what is the difference between having my coins at Blockchain.info compared to having the stored on my own computer?

When you store your private keys on your own devices, that means that you have full control of the private keys. That means that if you need the private keys for something like cashing out your BCH, then you are able to do so. It also means that your coins are less likely to be stolen by someone.