Hot Wallet
A cryptocurrency wallet that is connected to the internet, enabling quick and convenient access for sending, receiving, and interacting with dApps. Browser extension wallets (Phantom, Backpack, Solflare) and mobile wallets are hot wallets. They offer the best user experience for daily transactions and DeFi activity but are more vulnerable to phishing, malware, and remote attacks compared to cold storage. Best practice is to keep only actively used funds in a hot wallet.
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