Hot wallets basic information.

[Ashu]

Hot wallets are basically those wallets that allows a user to send and receive crptocurency and hold a crptocurency in that particular space. Hot wallets are basically connected to internet. A person can send and receive crptocurency through these wallets globally. Hot wallets are secured wallets. There are proper transaction record. Private keys and public keys play a important part in these wallets. There are different hot wallets like software hot wallets, some application wallets that are free to use and some of them you have to buy. Softwares wallets are downloadable wallets that aren't link to any particular exchanges. You maintain the public and private keys so that the crptocurency stored in that remain in your own hold. Besides all these facts your crptocurency is still vulnerable and a hacker might hack your computer, your public and private keys and all your crptocurency currency will be lost then. So be careful.

 

[Sheyemanu]

As you have said well about hot wallets, I would have to recommend you use trust wallet, safe and reliable, trustworthy even, lol. I've been using it for Quite some months and it's been great using it. I love the fact that it lists a lot of coins on itself and it's very easy and safe to use. I can recommend it for anyone to start using. Trust wallet is very good and user friendly, the two you mentioned are great, but you should try trust wallet

 

[Emma Aneni]

Hot wallets are basically those wallets that allows a user to send and receive crptocurency and hold a crptocurency in that particular space. Hot wallets are basically connected to internet. A person can send and receive crptocurency through these wallets globally.

 

[Onachukwu]

A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent. Every Bitcoin wallet contains one or more private keys, which are saved in the wallet file. The private keys are mathematically related to all Bitcoin addresses generated for the wallet.

 

[Mawome]

If you are talking about hot wallet then luno wallet is just the number one wallet you should be talking of, becouse it the facility where you can send and receive crypto currencies and convert it to your local currency, withdraw to your bank account immediately without stress.

 

[Asma]

For a hot wallets i will never use any type of this wallets but listen about trust wallet which is popular and its popularity and use is increased day by day because of method, Because its necessary to use those wallets who have a simple and easy method for cashout cryptocurrency.

 

[Shigobad2020]

A hot wallet is stored online through platform that offers a storage services , a good example is luno wallet , in luno account wallet you are allowed to have multiple wallet accounts like bitcoin wallet account, bitcoin cash account , ethereum wallet, litecoin wallet account and so on.

 

[Suba]

Thanks for sharing, a very useful thread for identifying hot wallets, because they are always connected to the internet, hot wallets are very vulnerable to being hacked, so hot wallet users are not recommended to store large amounts of crypto or preferably over $ 500 stored in cold wallets. And always use hot wallets for small daily transactions.

 

[Nurudeen]

Hot wallet is very essential and important in crypto currency exchange Business because without the wallet you won't have any where to store your coins into. However, as an investor or trader in this business one need to be very careful with the wallet they use and check their security system if it's strong enough because of hackers

 

[Nomad]

I am glad that someone explained this to me. I never knew about hot wallet and how they function, or what are the benefits of using these wallets. I am fin with web wallet

 

[mcjerry]

The best way to secure our crypto currency is to always use different address for our transactions. We can generate many address and receive to a wallet one after the other. And whenever we send from a wallet we should never use it again

 

[Yusuf]

This is a good information and highlight from you about hot wallet. However, I think the crypto currency exchange platform using this hot wallet for customers really need to upgrade on their security system because of hacking

 

[harrypaul]

It is always wise to keep your private logiin safe from online bugs.
When an hacker has access to your login details it is very easy to get hacked

 

[Ub40]

First, I want to commend you for taking your time to put up such a long and useful information above, though I was expecting some examples of hot wallets. Or can all crypto currency wallets be regarded as hot wallets. I am just wondering. But so far, I have really learnt from the above write up. Thanks for sharing.

 

[Aaron625]

As you have said well about hot wallets, I would have to recommend you use trust wallet, safe and reliable, trustworthy even, lol. I've been using it for Quite some months and it's been great using it. I love the fact that it lists a lot of coins on itself and it's very easy and safe to use. I can recommend it for anyone to start using. Trust wallet is very good and user friendly, the two you mentioned are great, but you should try trust wallet

Trust wallet is a very simple wallet with a simple user interface and yes it supports most of the coins , but not all of them. For those who wish to have even more security towards their crypto assets , they can try core wallets like bitcoin or litecoin core wallets. It requires little knowledge on how to download and install the softwares.

 

[Justin]

Hot wallets is the term used for wallets that are connected to the internet, for example, online wallet or smart phone wallet. These wallets are best if you frequently send and receive cryptos.

 

[Bookwormlux]

I try as much as possible to use unique and complicated passwords every now and then as this helps a lot to avoid losing to SCAMMERS.

 

[joy101]

I have never use this hot wallets but trust is very good to use that is the wallet I am using for now, is recommendable to use to save your money also have strong password.

 

[Nomad]

There is a risk of using hot wallet if you are a long term investor. Since you don't own the security keys, your coins can be lost any moment if you store in hot wallets.

 

[Kaffyfolla]

A hot wallet is a wallet that is always connected to the internet; they allow you to store, send, and receive tokens. Hot wallets are linked with the public and private keys that help facilitate transactions and act as security measures