Hot Account

Short Description:

A hot account, or hot wallet, is a type of cryptocurrency wallet that is connected to the internet and is readily accessible for everyday spending, trading on exchanges, and facilitating quick transfers of cryptocurrency.

Main Description:

A hot wallet, also known as a hot account, is a type of cryptocurrency wallet that is connected to the internet and readily accessible for online transactions.
Hot wallets are often used for everyday spending, trading on exchanges, and facilitating quick transfers of cryptocurrency.

They are convenient and user-friendly but are considered less secure than cold wallets because they are exposed to online risks, such as hacking, malware, and phishing attacks.
Examples of hot wallets include software wallets (desktop, mobile, or online wallets) and cryptocurrency wallets provided by cryptocurrency exchanges for trading.