Does Blockrise offer hot, cold or warm storage?

To hold any form of crypto, you need a crypto wallet. However, your crypto assets are not stored in the wallet, but rather on the blockchain. What's stored in your crypto wallet is your private key, which grants access to your crypto assets on the blockchain.

Crypto wallets are categorized based on the storage of the private key. Hot storage refers to wallets stored online, while cold storage refers to offline wallets. Warm storage is a type of wallet that combines aspects of both hot and cold storage.

Types of storage

Hot wallets, or online wallets, are connected to the internet, making them easily accessible from any device with an internet connection. However, because they are online, they are vulnerable to hacks and cyberattacks. Cold wallets, or hardware wallets, are offline and physically store private keys, making them highly secure but less practical for trading. Warm wallets, or software wallets, are connected to the internet, but private keys are stored on the hardware of your own device or elsewhere, providing a balance between accessibility and security.

Warm storage with Blockrise

The Blockrise Wallet is a special kind of warm wallet, as the wallet is connected to the internet while your private key is kept securely offline, stored on banking-grade hardware in Switzerland. Offering banking-grade storage for crypto wallets is unique in the crypto market, while clients are still able to quickly perform transactions and rebalance their portfolios. Their wallet is protected by the best hardware security in the banking sector and is exclusively accessible to them.

The Blockrise Seed

Instead of their private key, clients at Blockrise use their Blockrise Seed to conduct transactions. This is a 24-word phrase that is randomly generated and only known to you. It authorizes Blockrise to make transactions in your name, granting limited access to your private key to move your assets on the blockchain. You have absolute ownership over your crypto assets, and Blockrise cannot move any funds without your explicit permission.

Without explicit permission, Blockrise cannot move any client funds. The Blockrise Seed is in the exclusive possession of the client and gives them absolute ownership over their crypto assets. Losing your Blockrise Seed means losing access to your crypto assets, so make sure to keep it safe at all times.