Hot Wallet, What does it mean?

Hot Wallet is a term used in the cryptocurrencies field. It is key to understand it in order to fully understand this world

Definition of Hot Wallet

A software-based cryptocurrency wallet connected to the Internet. While more convenient for quickly accessing your crypto, these wallets are a bit more susceptible to hacking and cybersecurity attacks than offline wallets — just as files you store in the cloud may be more easily hacked than those locked in a safe in your home.

See more: Cryptonyms glossary