Hot wallet
An internet-connected wallet used for convenient spending or dApp access, with higher exposure to online threats.
- Also known as
- software walletmobile walletdesktop walletbrowser wallet
A hot wallet stores or uses private keys on an internet-connected device such as a phone, browser, or desktop. It is convenient for frequent payments and app interactions, but the connection increases exposure to malware, phishing, and device compromise.
Hot wallet risks include malware, clipboard address replacement, phishing, weak device locks, malicious approvals, and SIM-swap attacks against account recovery. Basic hygiene reduces but does not eliminate these risks.
Hot wallets are useful for small balances, frequent payments, testing, and dApp sessions. For savings or treasuries, cold storage, multisig, or hardware signing is usually more appropriate.
Related terms
4 linkedExplore connected entries beyond the alphabetical index.
Hardware wallet
→A physical signing device that keeps private keys isolated while approving cryptocurrency transactions.
Cold Storage
→Keeping private keys offline to reduce risk of remote compromise.
Custodial Wallet
→A wallet where a third party controls the private keys on your behalf.
Deterministic Wallet
→A wallet that derives all keys and addresses from a single seed phrase, enabling easy backup and recovery.
All terms and definitions may update as the Cryptionary improves.
