Transferring Funds from Cold to Hot Wallets
Explains the steps involved in transferring funds from cold and frozen wallets
- 1.Only a certain percentage of Bitcoin at the custodian is made available for withdrawal each day as the BTC in cold storage are out of reach for the protocol. The BTC must be moved to the hot wallet for redemptions to occur.
- 2.Movement of BTC from Cold to Hot requires a multisig protocol that needs M of N authorizations in the Authy app.
- 3.Hex Trust performs identity verification.
- 4.The Transaction is signed in an air-gap environment.
- 5.Funds will be transferred.