What are Hot Wallets?

A hot wallet is a cryptocurrency wallet that is connected to the internet. Because they are connected to the internet, hot wallets are more vulnerable to hacking and theft than cold wallets, which are not connected to the internet and are therefore considered more secure. However, hot wallets are more convenient to use than cold wallets because they can be accessed from any device with an internet connection. Some examples of hot wallets include software wallets installed on a computer…