noun Internet Slang

hot wallet

HOT WOL-it · noun · informal

An internet-connected wallet, convenient but more exposed.

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Definitions

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A wallet connected to the internet (a mobile app, browser extension, or exchange account) that's convenient for spending and trading but more vulnerable to hacks than cold storage.

“I keep a little in a hot wallet for gas and DeFi, the rest stays cold.”
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hot wallet In A Sentence

I keep a little in a hot wallet for gas and DeFi, the rest stays cold.

Origin & Usage

Crypto security term for online, readily-accessible wallets.

Tags #crypto#web3#security#wallet#custody

People Also Ask

What is a hot wallet?

A hot wallet is a crypto wallet connected to the internet — like a mobile app, browser extension, or exchange account — that's convenient for spending and trading but more vulnerable to hacks.

Is a hot wallet safe?

It's fine for small, everyday amounts, but because it's online it carries more risk than cold storage, so large holdings are best kept offline.

Why use a hot wallet instead of cold storage?

Hot wallets are quick and easy for gas fees, DeFi, and active trading, whereas cold storage prioritises security over convenience.

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