A hot wallet is a crypto wallet that has access to the internet and the crypto network at all times. You can see how many tokens you have available for use and transfer and receive cryptocurrencies using hot wallets.
An internet-connected wallet known as a “hot wallet” enables you to store, transmit, and receive tokens. Public and private keys that are connected to hot wallets assist in transaction facilitation and serve as security safeguards.
Hot wallets are connected to the internet, making them slightly more vulnerable to theft and hacking than compared to cold storage wallet type.