Hot Storage
| Hot Storage - any crypto wallet that is connected to the internet and provides users with quick access to cryptocurrencies. Hot storage, also known as a hot wallet, is a cryptocurrency wallet that is connected to the internet. This provides users with quick access to their cryptocurrencies. However, it also means that the wallet is more vulnerable to hacking. A hot wallet can be a software wallet, such as an online wallet or a mobile wallet. It can also be a hardware wallet, which is a physical device that stores the user's private keys. Hardware wallets are considered to be more secure than software wallets, as they are not connected to the internet and are therefore less vulnerable to hacking. While hot storage is convenient and easy to use, it is not the most secure option for storing cryptocurrencies. For this reason, it is important to only keep a small amount of cryptocurrencies in a hot wallet. The majority of your cryptocurrencies should be stored in a cold wallet, which is a wallet that is not connected to the internet and is therefore more secure. |
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