What is an Offline Cold Wallet (Offline Wallet Experience Program)
What is an Offline Cold Wallet? Why create an offline cold wallet? In traditiona
What is an Offline Cold Wallet? Why create an offline cold wallet? In traditional internet applications, users can store and transfer digital currency using smartphones without the need for third-party involvement in network services. Therefore, we call it a “non-contact secure hardware wallet” because it connects to the network through IoT devices and computers.
However, since encrypted assets are anonymous and cannot be stolen, it is necessary to keep the coins on one’s own computer to prevent loss or information leakage. In addition, offline wallets can also be managed physically, such as through USB, Bluetooth, and other technologies to securely store funds. Alternatively, other media can be used to manage funds, such as password recovery and mnemonic word backup.
Offline Wallet Experience Program
According to official news, the offline wallet experience program has been launched today to show everyone how to securely manage Bitcoin through offline devices. This event invites BitGo’s CTO David Chaum, Binance’s CEO Jay Hao, and Binance founder Zhao Changpeng to participate. A total of 100 people will participate and receive over $10,000 in cash rewards and a $10,000 bonus! For more details, click on the original link.
Users can download a wallet that supports various Layer2 solutions such as the Lightning Network and Ethereum 2.0. At the same time, when using hardware accelerated software (ASIC) for mining operations on this platform, it is necessary to back up the hard drive, and the private key can be encrypted and stored on a mobile phone or computer. In addition, a one-click offline storage solution, Swift, will be provided, eliminating the need for internet connection or any third-party services.
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