What is a Bybit cold wallet?

A Bybit cold wallet refers to a secure storage method used by the cryptocurrency exchange platform Bybit to keep the majority of its users' digital assets offline. This type of wallet is disconnected from the internet, which significantly reduces the risk of unauthorized access, hacking attempts, and other cyber threats. By employing cold wallets, Bybit ensures enhanced security for the cryptocurrencies entrusted to them by their customers. The funds in these cold wallets are not as quickly accessible as those in hot wallets (which are connected to the internet), but they provide a higher level of protection because they are less exposed to potential online vulnerabilities.