How Do Bitcoin Wallets Work? | Protecting Your BITCOIN | Public Key Vs. Private Key
About this episode
On today's episode, Darren and Christina are back for part 4 of their Bitcoin series. They compare how bitcoin works in comparison to online banking as well as the difference between a cold wallet and a hot wallet, and of course the steps you need to take to make sure your bitcoin is protected and secure. Tune in now!
Show notes:
00:00 - Introduction
3:00 - Bitcoin vs. online banking
6:45 - Hot wallet vs. cold wallet
15:20 - How secure are cold wallets compared to hot wallets?
16:05 - What happens if hardware becomes obsolete?
17:10 - Can a cold wallet be used for daily transactions?
17:35 - How do you recover funds if you use a cold wallet?
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