Since I have shared a cold wallet with you readers, I should also introduce what a hot wallet is🤔 for you to make your own choices~ This content is also divided into two chapters, let’s learn together~
A Hot Wallet is a cryptocurrency wallet designed to store and manage crypto assets online for easy trading and use. The following is a detailed introduction to hot wallets:
1. **Basic Definition**
- A hot wallet is an internet-connected cryptocurrency wallet.
- Used for instant access and management of crypto assets, suitable for daily transactions and payments.
2. **Type**
- **Web Wallet**: accessed through a browser, such as MyEtherWallet, MetaMask.
- **Mobile Wallet**: Smartphone applications such as Trust Wallet, Coinbase Wallet.
- **Desktop Wallet**: Applications installed on your computer, such as Electrum, Exodus.
- **Exchange Wallet**: Wallet services provided by cryptocurrency trading platforms, such as Binance and Coinbase.
3. **Main Features**
- **Online Storage**: Private keys are stored on an Internet-connected device or platform.
- **CONVENIENCE**: Suitable for quick transactions and daily use.
- **Easy to Access**: Access and manage assets via the internet anytime, anywhere.
4. **How to use**
- **Create Account**: Register an account on the wallet provider platform or application and generate private and public keys.
- **Deposit Funds**: Transfer cryptocurrencies to a hot wallet address.
- **Make Transactions**: Send and receive cryptocurrencies via hot wallets at any time.
