Cold storage is an offline wallet used for storing crypto assets. With cold storage, the digital wallet is stored on a platform that is not connected to the internet, thereby protecting the wallet from unauthorized access, cyber hacks and other vulnerabilities to which a system that is connected to the internet is susceptible.
Comparison between multisignature and cold storage for security
Cold storage aims to reducing the chance of failure due to hackers or malware. Multisignature aims to avoid a single point of failure. It is entirely possible to combine the two techniques, and create cold storage multisignature wallets.