Hot Wallet vs Software Wallet

A hot wallet is any cryptocurrency wallet that maintains a constant or regular connection to the internet, including mobile apps, desktop software, browser extensions, and exchange wallets, prioritizing convenience and quick access over maximum security. See also: Hot Storage.

A software wallet is a cryptocurrency wallet application running on your computer, smartphone, or web browser that stores encrypted private keys digitally on internet-connected devices, offering convenience and free access but requiring careful device security.