#CryptoSecurity101

Hot wallets are cryptocurrency wallets connected to the internet, allowing users to easily transact or access their assets.

Characteristics of hot wallets:

• Online connection: Operates when your device (computer, phone) has internet.

• Convenient:

• Easy to transact quickly.

• Suitable for frequent activities like trading, staking, or participating in DeFi projects.

• Common examples:

• Wallet applications: MetaMask, Trust Wallet, Coin98 Wallet.

• Exchange wallets: Binance, Coinbase, KuCoin.

Advantages:

• Fast, convenient, easy to use.

• Suitable for frequent traders.

Disadvantages:

• High risk of being hacked: Due to constant internet connection, easy to be attacked if you are tricked by phishing emails or other security flaws.

• Dependent on the system: If the hot wallet platform has a flaw or the exchange is hacked, you may lose your assets.