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AlienRobot • today at 12:07 AM • 1 reply • view on HN

The words you are using are very confusing.

You can't "move money into an offline crypto wallet that is not online at all."

If "money" i.e. crypto "currency" is in a crypto "wallet" then it is online. Anyone with the key and an Internet connection can transfer it at any time.

The wording is confusing because to someone who doesn't know how cryptocurrencies work it sounds like you can simply "take the crypto offline and put it into a physical device" as if it was a file. But that's not how it works. The physical key merely contains the actual key for the always-online wallet.


Replies

nostrademons • today at 1:05 AM

It's true that anyone with the key and an Internet connection can move money out of a crypto wallet at any time, but the point of the cold wallet is that they don't get the key because it's kept on a computer (or other storage medium) that is physically offline and disconnected from the Internet. Same reason government intelligence agencies use a SCIF for any important information work: you keep the information physically disconnected from the Internet.