Hot wallets are cryptocurrency wallets that are connected to the internet. Various types are available to cryptocurrency owners. They are accessible via the web and on mobile and desktop applications.
Hot wallets attract less experienced traders because of their ease of use. In addition, regular traders may opt to utilize hot wallets to make faster transactions. However, they are more vulnerable to cyberattacks than cold storage alternatives. To prevent hacking, safety features such as two-factor authentication are often employed.
Q: What is a Hot Wallet?
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