noun

hot wallet

HOT WOL-it

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Hot wallet (noun) means a cryptocurrency wallet whose secret keys are held on a device connected to the internet, such as a phone app, a browser extension or an exchange account, making it quick to use and reachable by online attackers. Example: “She keeps a hot wallet on her phone for small everyday payments.”

noun

A cryptocurrency wallet whose secret keys are held on a device connected to the internet, such as a phone app, a browser extension or an exchange account, making it quick to use and reachable by online attackers.

"She keeps a hot wallet on her phone for small everyday payments."

"The exchange said only its hot wallet was affected by the breach."

How to use hot wallet

Learner’s notes

In plain EnglishA crypto wallet that lives on a connected device like your phone, easy to use but easier to attack.

When to use it

Standard industry term, neutral in tone. Exchanges use it specifically for the connected portion of customer funds they keep ready for withdrawals.

Memory tip

Hot and cold describe connectivity, not who controls the keys. A wallet can be hot and still be entirely under your own control.

Trace the full origin ↓

Easily confused with

cold wallet → custodial wallet non-custodial wallet seed phrase →

Common pairings

hot wallet balance exchange hot wallet hot wallet breach keep funds in a hot wallet

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C2 · Advanced serendipity Fortunate discoveries made entirely by accident.

Gen Z slang rizz Charm — the ability to attract a romantic interest.

B2 · Intermediate empathy The capacity to share another person’s feelings.

C1 · Advanced nonchalant Casually calm and relaxed; unconcerned.

Internet slang delulu Delusional — believing something against the odds.

Etymology nostalgia Greek nostos “return home” + algos “pain”.

C2 · Advanced serendipity Fortunate discoveries made entirely by accident.

Gen Z slang rizz Charm — the ability to attract a romantic interest.

B2 · Intermediate empathy The capacity to share another person’s feelings.

C1 · Advanced nonchalant Casually calm and relaxed; unconcerned.

Internet slang delulu Delusional — believing something against the odds.

Etymology nostalgia Greek nostos “return home” + algos “pain”.

Test yourself on “hot wallet” A quick quiz — meaning, synonyms & usage →

Fill the gap

Can you complete this real example?

She keeps a _____ on her phone for small everyday payments.

Etymology

From hot in the sense of live or connected, contrasted with cold storage kept offline.

Origin: English

Synonyms

View more →

online wallet software wallet browser wallet connected wallet

Antonyms

cold wallet cold storage offline wallet

Related words

freezer cold wallet

Rhymes for hot wallet

mallet wallet ballet pallet

See all rhymes for hot wallet →

Frequently asked questions

What is the difference between a hot wallet and a cold wallet?

The difference is whether the keys sit on something connected to the internet. Hot wallets are convenient for regular transactions but exposed to online threats; cold wallets keep the keys offline, which is more awkward to use and much harder to reach remotely.

What is the difference between a custodial and a non-custodial wallet?

In a custodial wallet, such as an exchange account, the company holds the keys and you hold a claim against them. In a non-custodial wallet you hold the keys yourself, which means no one else can move your funds and no one can restore access if you lose your recovery phrase.

Is a browser extension wallet a hot wallet?

Yes. Extension wallets keep keys on a machine connected to the internet, so they count as hot even though the keys are yours rather than a company's. Many can also be paired with a hardware wallet, so the extension handles the interface while the keys stay offline.

What is the meaning of hot wallet?

"hot wallet" (noun) means a cryptocurrency wallet whose secret keys are held on a device connected to the internet, such as a phone app, a browser extension or an exchange account, making it quick to use and reachable by online attackers.

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