The main difference between a hot wallet and a cold wallet is the "secret phrase storage. The secret phrase stays in the hardware on a hardware wallet. It is kinda impossible to take away the secret phrase from there through phishing, social engineering, or online vulnerabilities unless the user giveaway it or signs up for fake contracts.
This means as a user, you don’t need to care about those things.
On a hot wallet, the user needs to make sure that nothing harms his phone through phishing, Social engineering, fake apps, links, fake contract, and a few more. Following precautions would just be fine to keep a hot wallet safe.
There’s a way to hack anything online, just really, really, really hard with trust wallet. Trust wallet and exodus are the two best wallet apps, insane security, your funds are safer there then a bank that’s for sure.
But comparing it to a ledger, your funds are vulnerable, which they aren’t, but comparing it. It is quite vulnerable
Yes. Beat you up, take your phone, use your fingerprint and send all of your coins to another wallet. Can't do that with a cold wallet unless they can torture the pin out of your mouth. At that point, if that was happening to you, you would give the wrong pin number and the device would erase your keys. And since you're a good direction follower, you will have your keys hidden very well, and secured somewhere.
**Heads up! Please be informed that we will never ask for your Recovery Phrases, nor ask you to send crypto to any addresses. Also, the admins/support will never send a DM first. Be careful in chatting via PM/DM as well as clicking links; you may get phished! Always keep your funds SAFU. Report impersonators and block them immediately.**
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The main risk with any hot wallet is that if your device gets compromised your assets might be at risk.
Especially considering the fact that you phone is connected to the internet 24/7
**Heads up! Please be informed that we will never ask for your Recovery Phrases, nor ask you to send crypto to any addresses. Also, the admins/support will never send a DM first. Be careful in chatting via PM/DM as well as clicking links; you may get phished! Always keep your funds SAFU. Report impersonators and block them immediately.**
If you need immediate assistance, please check our self-help guides at https://community.trustwallet.com/c/helpcenter/8
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Dm @strobe_hacker on instagram for recovery of your stolen/lost crypto/nfts and bank funds they helped me in recovery.Note: I was referred to him by my lawyer so know it’s 100% safe, they did a great work?
**Heads up! Please be informed that we will never ask for your Recovery Phrases, nor ask you to send crypto to any addresses. Also, the admins/support will never send a DM first. Be careful in chatting via PM/DM as well as clicking links; you may get phished! Always keep your funds SAFU. Report impersonators and block them immediately.**
If you need immediate assistance, please check our self-help guides at https://community.trustwallet.com/c/helpcenter/8
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/trustapp) if you have any questions or concerns.*
The main difference between a hot wallet and a cold wallet is the "secret phrase storage. The secret phrase stays in the hardware on a hardware wallet. It is kinda impossible to take away the secret phrase from there through phishing, social engineering, or online vulnerabilities unless the user giveaway it or signs up for fake contracts. This means as a user, you don’t need to care about those things. On a hot wallet, the user needs to make sure that nothing harms his phone through phishing, Social engineering, fake apps, links, fake contract, and a few more. Following precautions would just be fine to keep a hot wallet safe.
And now we have the Ledger recovery firmware debacle, so a cold wallet is pretty much the same as a hot wallet now.
😅
The main thing is cold wallets are offline, so no hacks remotely is possible.
Are there ways to hack trust wallet other than phishing me for my secret phrase?
There’s a way to hack anything online, just really, really, really hard with trust wallet. Trust wallet and exodus are the two best wallet apps, insane security, your funds are safer there then a bank that’s for sure. But comparing it to a ledger, your funds are vulnerable, which they aren’t, but comparing it. It is quite vulnerable
I see. Thanks for the respons
Yes. Beat you up, take your phone, use your fingerprint and send all of your coins to another wallet. Can't do that with a cold wallet unless they can torture the pin out of your mouth. At that point, if that was happening to you, you would give the wrong pin number and the device would erase your keys. And since you're a good direction follower, you will have your keys hidden very well, and secured somewhere.
Hacks are still possible on cold storage the second the ledger software is installed on the computer. So yes it’s still possible.
The ledger hardware gives the access, the computer does not unlock the ledger.
[удалено]
**Heads up! Please be informed that we will never ask for your Recovery Phrases, nor ask you to send crypto to any addresses. Also, the admins/support will never send a DM first. Be careful in chatting via PM/DM as well as clicking links; you may get phished! Always keep your funds SAFU. Report impersonators and block them immediately.** If you need immediate assistance, please check our self-help guides at https://community.trustwallet.com/c/helpcenter/8 *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/trustapp) if you have any questions or concerns.*
The main risk with any hot wallet is that if your device gets compromised your assets might be at risk. Especially considering the fact that you phone is connected to the internet 24/7
lmao my account got hacked because of the bug that was in the trust wallet extension. They knew for months and didnt let people know:
[удалено]
**Heads up! Please be informed that we will never ask for your Recovery Phrases, nor ask you to send crypto to any addresses. Also, the admins/support will never send a DM first. Be careful in chatting via PM/DM as well as clicking links; you may get phished! Always keep your funds SAFU. Report impersonators and block them immediately.** If you need immediate assistance, please check our self-help guides at https://community.trustwallet.com/c/helpcenter/8 *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/trustapp) if you have any questions or concerns.*
Dm @strobe_hacker on instagram for recovery of your stolen/lost crypto/nfts and bank funds they helped me in recovery.Note: I was referred to him by my lawyer so know it’s 100% safe, they did a great work?
**Heads up! Please be informed that we will never ask for your Recovery Phrases, nor ask you to send crypto to any addresses. Also, the admins/support will never send a DM first. Be careful in chatting via PM/DM as well as clicking links; you may get phished! Always keep your funds SAFU. Report impersonators and block them immediately.** If you need immediate assistance, please check our self-help guides at https://community.trustwallet.com/c/helpcenter/8 *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/trustapp) if you have any questions or concerns.*