Hot storage is a type of device used to keep cryptocurrencies which is directly connected to the internet. This is the most common type of wallet because it’s convenient and users can access the wallet as long as the device is powered on or has access to the internet. This connection and ease of access is what makes the device “hot”. However, they are hackable, since the wallet or software is always online. Hackers may find the vulnerability of the system and steal your coin.
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