Crypto Terms: Letter H

What is Hosted Wallet?

Hosted Wallet MEANING:
Hosted Wallet - a digital account for the storage of cryptocurrency which is managed by third-party financial institutions.
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Let's find out Hosted Wallet meaning, definition in crypto, what is Hosted Wallet, and all other detailed facts.

A hosted wallet is a digital account that allows users to store, send, and receive cryptocurrency. When you purchase cryptocurrency through an app like Coinbase, for example, your funds are automatically sent to a hosted wallet. It's called hosted because your crypto is kept for you by a third party. It is kept in the same way that a bank stores your money in a checking or savings account.