What is a Hot wallet

cherry123

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• Feb 5, 2023

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A hot wallet can be described as a device that is connected to the internet. Which are free to use it has add-on services like trading or staking in exchange for fees. A hot wallet can easily be hacked over the internet.

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Suba

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Hot wallets can be websites, desktop/mobile applications, browser extensions, hot wallets will always be connected to the internet, easy to use, very suitable for beginners.

 

flower

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Hot wallet are wallet that are readily available on the internet like the wallet we obtained from cryptocurrency exchange.

 

Chibson

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flower said:

Hot wallet are wallet that are readily available on the internet like the wallet we obtained from cryptocurrency exchange.

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Yeah, wallets like trust wallet, metamask safepal are hotwallets because they are readily available. It is also very important to be careful whenever you are making use of them because there are hackable.