Anthony R144_ Gonzalez#39

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What is a hot wallet vs a cold wallet?

A hot wallet is a cryptocurrency wallet connected to the internet, such as mobile apps, desktop wallets, or exchange accounts. It offers convenience for frequent trading but is more vulnerable to hacking and phishing attacks. Cold wallets, such as hardware wallets or paper wallets, are offline storage solutions, making them far safer for long-term holding. The trade-off is convenience versus security: hot wallets are best for small amounts and daily use, while cold wallets are recommended for storing large sums. Many traders combine both, using hot wallets for transactions and cold wallets for secure savings.