Sense

Crypto Lesson with /sense 

What is a crypto hot wallet ? 

A crypto hot wallet is a cryptocurrency wallet that is connected to the internet, making it easy and convenient for users to send and receive digital assets quickly.

Key Features of a Hot Wallet:
🔗 Internet-connected: Always or often online.
💼 Convenient: Good for active users or day traders.
🔐 Software-based: Usually comes in the form of mobile apps, desktop applications, or browser extensions.
🔓 Less secure than cold wallets: More exposed to cyberattacks, phishing, and malware.

Common Types of Hot Wallets:
Mobile wallets (e.g., Trust Wallet, MetaMask mobile)
Desktop wallets (e.g., Exodus, Electrum)
Web wallets (e.g., Blockchain.com, wallets hosted by exchanges like Coinbase or Binance)
Browser extension wallets (e.g., MetaMask for Chrome/Firefox)

Crypto hot wallets offer convenience, but they also come with increased risks due to their internet connectivity. Hot wallets are NOT meant to hold large amounts of crypto !

Crypto Quiz with /sense 

Which of the following statements are not true about hot wallets ?

A - Hot wallets are convenient 

B - Hot wallets are insured against loss

C - Hot wallets are connected to the internet

Hodler exploring web3. Solana airdrop farmer, bitcoin solo miner, Helium network miner, and Medium blogger. 🎭🎭🎭