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Hot Wallet
Web3 infrastructure • tools • interfaces
Hot wallet is a cryptocurrency wallet that is connected to the internet, allowing for quick and convenient access to digital assets. Common types include browser wallets, mobile wallets, and desktop wallets. While hot wallets are ideal for frequent transactions and dApp interactions, they are more vulnerable to hacking and malware compared to cold wallets, which remain offline.
Use Case: A trader uses a mobile hot wallet for daily swaps, staking, and QR payments while keeping long-term silver holdings secured in a cold wallet.
Key Concepts:
- Browser Wallet — Online extension or app for dApps and DeFi.
- Mobile Wallet — Smartphone wallet for QR payments and portability.
- Desktop Wallet — Software wallet on PC, often with node syncing.
- Custodial Wallet — Third-party controlled wallet requiring trust.
- Hardware Wallet — Physical cold storage for maximum security.
- Cold Wallet — Wallet kept offline for long-term storage.
- Watch-Only Wallet — Monitoring wallet without private keys.
- Paper Wallet — Offline printed keys for cold storage.
- Air-Gapped Wallet — Fully isolated from networks.
- Multisig Wallet — Wallet requiring multiple signatures for access.
- Seed Phrase — Backup words securing wallet recovery.
- WalletConnect — Protocol linking hot wallets to dApps.
- Private Keys — Core cryptographic keys controlling access.
- Self-Custody — Direct ownership and control of assets.
- Crypto Wallets — General category of wallet types.