The coldkey is your wallet on the chain. It is used for tao storage and transferring tao to and from others. Coldkeys can have hotkeys for performing tasks on chain.

Coldkey uses

• Funds in your coldkey can be transferred in and out of your coldkey.
• Subnets are registered on a coldkey, using the funds on that coldkey.
• Delegation to validators. The tao on your coldkey can be delegated to the hotkey of a validator.

Create a coldkey wallet

In the btcli:btcli wallet create

Using Polkadot JS extension:

1. Create new account

   

In all cases, you will be provided with a 12 word mnemonic phrase. it is very important to keep this phrase in a safe place.

🚧

NEVER, EVER provide your mnemonic phrase to "support." This is 100% a scam, and they will drain your wallet.

3. This will generate a coldkey public hash/public key that looks like 5E6yV6xPjFrYv167nXaMhdmZUwMR5QM1M9jJhL85QPhi2DYc. For Bittensor, all keys will begin with a 5.

Coldkey security

Your coldkey public key (5E6yV6xPjFrYv167nXaMhdmZUwMR5QM1M9jJhL85QPhi2DYc) is public and can be searched on taostats to display you your balance, transactions, etc. Who owns the coldkey is anonymous.

Your mnemonic phrase allows you to add your coldkey into wallet applications. You can import existing coldkeys into wallet apps, etc. However, anyone can add a wallet with the 12 word phrase, including scammers. If you believe your coldkey has been compromised, you can perform a coldkey swap.

Coldkey swap

A coldkey swap will lock the funds on your coldkey for 5 days, and after 5 days, the funds will be available on a new coldkey. The delay prevents bad actors from swapping coldkey access away from existing users. This will be available in the btcli soon.

Hotkeys

Hotkeys are connected to the cold key, and used for performaing transactions on chain. See Hotkeys for details.