The Inner World of Cryptocurrency Exchanges: wallets

14 MAR 2020 14:11

The Orion Finance team continues to reveal the secret of the cryptocurrency exchange mechanism. Today we will devote a few words to hot and cold wallets.

A cryptocurrency wallet is a program that stores public and / or private keys and is necessary to track the ownership, receipt or expense of cryptocurrencies.

A cold wallet at Orion Finance is reliable storage with multi-level protection. It is used to save the main assets of the exchange and user funds. The cold wallet is not connected to the Network, therefore, if hackers attack, all funds will be saved.

The hot wallet on Orion Finance is used to deposit funds to the balance of traders, as well as to deposit and withdraw assets. A hot wallet stores a relatively small amount of funds needed for daily settlements.

The Orion Finance team always monitors the correct operation of software, including wallets, thereby guaranteeing a high level of security.

Welcome to our warm, cosy and reliable place:)