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Lilly Wilson
Lilly Wilson

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What is Hot Wallet?

Cryptocurrency wallets which store your private keys on the internet are called "hot wallets". It allows you to access your crypto on your phone or computer.

Hot wallets are a great way to manage and visualize your assets, sign transaction and communicate with blockchain.

They are also more popular because they're free, easy to use and have a simpler setup than cold wallet.

Hot wallets are classified either as non-custodial, or custodial. Custodial wallets are those that give you no direct access to the blockchain addresses. Your private keys will be given to a third-party.

When you create a non-custodial Wallet, you are given a Seed phrase. This means that you always have direct control and possession of your private keys.

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