Online storage, or ‘hot storage’, is a method of storing cryptocurrency private keys on an internet-connected device, allowing for easy access but increasing the risk of cyber threats.

Understanding Online Storage in Cryptocurrency

Imagine a vault that’s always connected to the internet — that’s online storage in the crypto world. It’s a digital space where you store the keys to your crypto kingdom. These keys, essential for accessing your digital assets, remain within reach through the web.

Every coin has two sides, and so does online storage. While it offers convenience, it also opens doors to risks like hacking. This is due to the perpetual internet connection, even when you’re not actively trading.

There’s a choice to make — custodial or non-custodial. Trust a third party with your keys, or keep them under your personal watch. The decision shapes your security and control over your digital treasures.