Hot wallet

A type of cryptocurrency wallet that is connected to the internet, allowing for easy and quick access to digital assets. These wallets are designed for convenience, enabling users to send, receive, and manage their cryptocurrencies efficiently. Hot wallets can be accessed through various forms, including desktop applications, mobile apps, and web-based platforms.

While hot wallets offer high accessibility and ease of use, they are more vulnerable to cyber attacks, hacking, and other online threats compared to cold wallets, which are kept offline. Therefore, hot wallets are typically used for day-to-day transactions and storing smaller amounts of cryptocurrency, while larger amounts are often kept in more secure cold wallets.