Cold wallet connect to Web3, a lot of confusion, what is to occurred?
Cold wallet connect to Web3, a lot of confusion, what is to occurred?
I keep seeing on TikTok to connect your cold wallet to a Web3 wallet. So you do not get whitelisted and/or loss in case of any cyberattacks. They’re not doing a good job explaining further regarding this subject matter. I understand that the SEC just drop the lawsuit so big changes are going to happen. Assuming the exchanges continue freezing and stealing assets on accounts.
- Why connect if cold wallet is supposed to be offline? Isn’t this counter active to the idea of the cold wallet?
- What is whitelisting? And how do cyberattacks play a role to cold wallets?
- If needing to connect, what is the best Web3 wallet? As each platform differs and is confusing. Please and thank you I’m advance.
The idea that connecting your cold wallet to a web3 wallet or anything else somehow protects you from hacks, white listing, government or anything else is just plain stupid. These people are probably using this sort of fear mongering to get you to do something that allows them to drain your cold wallet, just ignore all the stupid things they are saying – they are scammers.
I’m talking from my own experience here so not sure if this is how everyone uses crypto.
My cold wallet is never connected to anything except my Ledger desktop app. I only use it to store crypto and to move it to an exchange when I need a cashout or something.
I use my hot wallet for everything else. I interacted with thousands of protocols and one of my hot wallets got drained because of that, so I would say that it is NEVER a good idea to connect your cold wallet to anything online. It’s called a cold wallet for a reason.