Hot wallet
Plain definition. A hot wallet is a crypto wallet that connects to the internet through software on your phone or computer, FINRA explains in its investor guide on storing crypto assets.
Technical definition. FINRA describes wallets connected by a phone or computer via software to the web as hot wallets, in contrast to cold wallets, which are paper or hardware generally kept off the internet. Hot wallets offer the means to receive, store, use or transfer crypto assets and validate ownership of them. Access to them is usually through a traditional password that doesn’t involve keys, and like any internet-connected service they are vulnerable to hackers and malicious code.
On this site
On this site, Hot wallet comes up in Where should I keep my XRP: on the exchange or in my own wallet?, How do crypto exchanges actually get hacked if they use cold wallets?, What’s the difference between a hot wallet, a cold wallet and a paper wallet?, What happened in the September 2026 Bitget theft, and were customers’ funds affected? and How much should I keep in a hot wallet versus cold storage?.
Source
Storing Crypto Assets | FINRA.org (finra.org), read October 1, 2026.
Pages that cover Hot wallet
- What's the difference between a hot wallet, a cold wallet and a paper wallet?
- How much should I keep in a hot wallet versus cold storage?
- How do crypto exchanges actually get hacked if they use cold wallets?
- Where should I keep my XRP: on the exchange or in my own wallet?
- What happened in the September 2026 Bitget theft, and were customers' funds affected?