A crypto wallet whose private key is kept entirely offline, never touching the internet — commonly a hardware wallet or paper wallet. Because the key is never exposed to a networked environment, hackers can't steal it remotely, giving very high security ideal for long-term storage of large assets, at the cost of less convenience.

A crypto wallet that's connected to the internet and ready to use anytime, with its private key stored on an online device (phone, browser extension, exchange). It's fast and convenient, ideal for everyday small transactions and interactions, but because the key is exposed to a networked environment, its hacking and theft risk is far higher than a cold wallet.

A randomly generated secret number that is the sole proof of control over the assets at a blockchain address. Whoever holds the private key can move those assets — and unlike a bank password, it cannot be reset: lose it or leak it and the assets are permanently lost or stolen.

A sequence of usually 12 or 24 English words that serves as a human-readable backup of your private keys. It can fully restore every private key in your wallet, so holding the seed phrase equals holding the entire wallet — anyone who gets it can move all your assets away.