Differences between COLD and HOT backups

What are the differences between COLD and HOT backup? And the benefits associated with each?

S.NO	HOT backup	COLD backup
1	HOT backup is taken while database is in up and running state	COLD backup is taken while the database is in graceful  shut down state
2	For HOT backup database must be in archive log mode	For COLD backup database need not be in archive log mode
3	Using HOT backup we can recover the database till any point in case of disasters	Using COLD backup we can recover the database till the point where we took backup only. Later changes will be unavailable
4	Excessive redo is generated during HOT backup	Since the database need not be in archive log mode we can gain slight  performance
5	It is online backup	It is offline backup
6	HOT backup is inconsistent backup	It is Consistent backup
7	Since HOT backup don’t need downtime we can use this for a database that performs 24*7 operations	Since COLD backup needs downtime we can’t afford to use it for a database that performs 24*7 operations
8	Using HOT backup we will take Control, Redo (optional), Data files for backup.	During COLD backup we will take Control, Redo (optional), Data files for backup same as hot backup.

Related links:

Taking COLD backup:  http://orcl11gdba.blogspot.in/2014/04/recovering-database-using-cold-backup.html

Tanking HOT backup:  http://orcl11gdba.blogspot.in/2014/03/taking-hot-bakcup-database-in-begin.html