Interest in Cold Wallets Increases

The sudden collapse of FTX, one of the favorite crypto exchanges of recent years, caused a great shock to crypto investors. The crypto community has lost confidence in centralized cryptocurrency exchanges, questioning the collateral held by companies. Although the leading exchanges announced their crypto reserves to quell the panic, the lost trust was not completely compensated.

SimilarWeb discovered in its new research that interest in cold crypto wallets increased after the collapse of FTX. According to the researchers’ post, after the shock in the crypto market, investors searched the internet for the keyword “cold wallet” 4 times more.

The number of daily visits to the website of Ledger, the largest cold wallet manufacturer for cryptocurrencies, was around 100,000 last month. According to SimilarWeb data, with the bankruptcy of the FTX exchange, this figure increased by 200% to 300,000 daily visitors.

According to the source reached by the researchers, almost all visits to the Ledger website are from real users. There is no artificial increase in the number of visits.

Cold wallets are technological devices that allow cryptocurrencies to be stored on a hardware device that is not connected to the internet. Cold wallets are much more secure than hot wallets as they are not connected to the internet network.

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