# Hot Wallet

> A wallet connected to the internet, like a phone app. Convenient for everyday use, less safe for big balances.

Canonical URL: https://fudfomo.co/glossary/hot-wallet
Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co.

## Definition

A hot wallet is any wallet that is connected to the internet, such as a mobile app, a browser extension, or a wallet built into an exchange.

Hot wallets are easy to use and good for the money you spend or trade often. Because they are online, they are also more exposed to phishing, malware, and scams, so most people pair a hot wallet for daily use with cold storage for larger holdings.

## Related terms

- [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto.
- [Cold Storage](https://fudfomo.co/glossary/cold-storage): Keeping crypto on a device that is not connected to the internet. Safer for long-term holding.
- [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does.

## See the full catalogue

What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co