Hot Wallet

A hot wallet is a cryptocurrency wallet that is connected to the internet, either directly or indirectly, meaning its private keys are accessible online. These wallets are typically software-based, existing as mobile apps, desktop applications, or browser extensions, and are designed for convenience, allowing users to send, receive, and manage cryptocurrencies with relative ease and speed. Their always-online nature makes them ideal for frequent transactions, active trading, or interacting with decentralized applications (dApps).