Topic: Unleashing the Power of Cold Wallets! (Read 13 times)

Unleashing the Power of Cold Wallets!
      In the realm of cryptocurrencies, where developments have reached unprecedented levels, protecting the security of wallet private keys and secret recovery phrases has become a top concern for all crypto users. In this edition, we introduce the “Cold Wallet” feature within TokenPocket, which provides users with an alternative option to safeguard their cryptos.

What is a Cold Wallet?
Wallets created through internet-connected mobile wallets or browser extension wallets are commonly referred to as “hot wallets.” These wallets carry a risk of exposing private keys and secret recovery phrases to the internet.
Under normal circumstances, if the device is not compromised by downloading malicious software and the user does not save the private keys or secret recovery phrases in vulnerable locations such as the photo gallery or third-party internet-connected applications, the private keys and secret recovery phrases of the wallet are stored on the user’s relatively secure personal device.

A cold wallet refers to a type of blockchain wallet that is offline or disconnected from the internet, also known as an offline wallet. In contrast to hot wallets, which are created through internet-connected mobile wallets or browser extension wallets, cold wallets offer increased security by keeping private keys and secret recovery phrases offline. Cold wallets, on the other hand, rely on “cold” devices such as offline computers or phones to ensure the security of wallet private keys. Additionally, cold wallets need to be paired with a watch wallet. The watch wallet is used to control the assets inside the wallet by transferring signature information through QR codes.

How to import a cold wallet on TokenPocket?
TokenPocket supports users to create cold wallets offline, and all you need is an offline mobile phone. (You can use an old phone as an offline phone)

Here is the creation process:
1. Prepare an offline mobile phone.
2. Open TokenPocket and tap on the wallet icon in the top right corner.
3. Select the network.
4. Tap on “Create Wallet” and proceed to the [Creation way] page.
5. Select “Cold Wallet” to begin creating an offline cold wallet.

Here is the import process:
Tap on the wallet icon in the top right corner and select the network.

2. Select [Import Wallet], and select [Cold Wallet].

3. To import your cold wallet, enter your wallet’s private key or secret recovery phrases, check the service agreement, and click on “Confirm Import” to complete the import of the cold wallet.
On the cold wallet assets page, you can see the cold wallet identifier. To confirm transaction signing information with the watch wallet through scanning, click on “Scan to Sign”.

How to use the Cold wallet and the Watch wallet?
The watch wallet is primarily used to monitor the asset status of the target wallet and needs to be paired with the cold wallet to complete asset transfers and other operations.

1. When initiating a transfer operation using the watch wallet, obtain the QR code from the watch wallet. Then, use the cold wallet on the offline device to scan the QR code and perform the signature.

2. After completing the signature on the cold wallet, you will receive a QR code with signature information. Use the watch wallet on a connected device to scan the QR code and successfully send the transaction.

TokenPocket currently supports dynamic QR codes and encrypted scanning protocols, greatly enhancing the security of transmitting encrypted information through QR codes.

Conclusion
Protecting wallet assets and securing private keys and secret recovery phrases is always the most important task for crypto users. Cold wallets, as a secure cryptocurrency storage solution, provide a secure fortress that can withstand hacker attacks and other online security threats. While cold wallets may not be as convenient as hot wallets in everyday use, they are undoubtedly a better choice for protecting large amounts of assets and long-term storage.