Crypto Terms:
Letter H
Jun 19, 2023 |
updated Apr 02, 2024
What is Hot Storage?
Hot Storage -
any crypto wallet that is connected to the internet and provides users with quick access to cryptocurrencies.
easy
1 minute
Let's find out Hot Storage meaning, definition in crypto, what is Hot Storage, and all other detailed facts.
Any crypto wallet that is run through an internet-connected system is referred to as hot storage (also known as a hot wallet). Hot wallets can be used on a desktop, a mobile device, or the cloud. The user may or may not have control over their private keys, depending on the system. A hot wallet can give users a quick and easy way to access their crypto assets on the go, as well as make transferring and receiving crypto easy.