Hot Wallet / Hot Storage

What is a hot wallet or hot storage?

Hot Wallet / Hot Storage Definition: A hot wallet or hot storage refers to a cryptocurrency wallet that stores your digital assets online so that you’ll always have access to them on the internet. These are useful for sending and receiving cryptocurrencies and allow you to see your account balance, transactional history, and what you have available to use.

Hot wallets are protected with private and public keys to enjoying security when trading, storing, and receiving tokens. Hot storage also presents a higher risk of hacks because they are consistently online and connected to the internet.

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