Hot Wallet
A crypto wallet connected to the internet: handy for quick spending, but more exposed to hackers.
In plain English
A crypto wallet connected to the internet: handy for quick spending, but more exposed to hackers.
A hot wallet is any wallet whose keys live on an internet-connected device: a phone app, a browser extension, a desktop program, or an exchange account. It's "hot" because it's plugged in and ready to go.
That's great for everyday use and for connecting to DeFi apps. It also means malware, phishing sites and bad clicks can reach it. Treat it like the cash in your pocket: fine for spending money, not for your life savings, which belong in a cold wallet.
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