What is a Hot Wallet? A hot wallet is a cryptocurrency wallet that remains consistently connected to the internet or another networked device. These wallets serve as temporary storage for cryptographic keys and facilitate sending and receiving cryptocurrency. Typically, their interfaces also provide users with a real-time overview of their token balance.
Key Takeaways A hot wallet is always online and allows users to store, send, and receive tokens. Hot wallets store private keys that provide exclusive access to your cryptocurrency.