A cold storage wallet is an offline cryptocurrency wallet designed to securely store digital assets away from internet access, reducing the risk of hacking or unauthorized access.
Bitbuy uses cold storage by keeping 95% of its users’ cryptocurrency assets offline in highly secure environments, protected from internet-based threats like hacking. These offline wallets are managed using industry-leading security practices and are insured, ensuring that user funds remain safe even in the unlikely event of a breach.
While hot wallets provide convenience for frequent transactions, cold wallets are ideal for long-term storage and safeguarding large amounts of crypto assets.
Once you buy Ethereum Classic on Bitbuy, you can transfer your Ethereum Classic from the Bitbuy platform to your own hardware wallet. This allows you to take full advantage of the self-custody capabilities of cryptocurrency if you feel comfortable enough to do so. To transfer your crypto to your hardware wallet from your Bitbuy account, click the “Withdraw” option and select “Withdraw crypto.” Select the token you would like to withdraw, followed by the amount, and then paste your hard wallet address as the recipient wallet.
