A cold wallet is essentially any way to store your cryptocurrency offline. Hardware wallets like Trezor and Ledger are actually perfect examples of cold wallets. They keep your private keys offline and only connect to the internet when you need to make a transaction.
Exodus, on the other hand, is primarily a software wallet that's usually connected to the internet, making it︀ a "hot wallet." However, Exodus can be used with hardware wallets for added security.
The main types of cold wallets are hardware wallets, paper wallets (where you print out your︁ keys), and software wallets on completely offline (air gapped) computers.
The big advantage of cold wallets is that︅ they're much harder to hack since they're not continuously connected to the internet. This is︆ why they can't be easily touched, there's no online connection for anyone to interfere with.︇
Importantly, if you're using a cold wallet correctly, you're the sole custodian of your funds.︈ This means you alone determine who gets access to your wallet and your crypto.
Exodus, on the other hand, is primarily a software wallet that's usually connected to the internet, making it︀ a "hot wallet." However, Exodus can be used with hardware wallets for added security.
The main types of cold wallets are hardware wallets, paper wallets (where you print out your︁ keys), and software wallets on completely offline (air gapped) computers.
The big advantage of cold wallets is that︅ they're much harder to hack since they're not continuously connected to the internet. This is︆ why they can't be easily touched, there's no online connection for anyone to interfere with.︇
Importantly, if you're using a cold wallet correctly, you're the sole custodian of your funds.︈ This means you alone determine who gets access to your wallet and your crypto.