Hot wallet
Software wallet · Online wallet
A hot wallet is a wallet whose private keys are kept on a device connected to the internet, such as a phone or computer app, which makes it convenient for spending and more exposed to malware.
Hot wallets sign transactions on the same device that browses the web and runs other apps. Operating systems isolate apps from each other, but the keys are still within reach of anything that compromises the device.
They suit small, everyday amounts and learning. Many people pair a hot wallet for spending with a hardware wallet or cold storage for savings.
Exchange accounts are sometimes called hot wallets too, but there the exchange, not the user, holds the keys.
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