Hot Wallet
A cryptocurrency wallet connected to the internet, allowing quick transactions but with higher security risk compared to cold wallets. MetaMask, Trust Wallet, and exchange wallets are common hot wallets. Poker players typically use hot wallets for active deposits and withdrawals due to their convenience and speed.
Example
Your poker room balance of 0.1 BTC sits in their hot wallet, connected to the internet for instant deposits and withdrawals. It is convenient but less secure than cold storage.
Where this matters
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Related Terms
See Also
- Gas Fee- The transaction fee paid to blockchain validators for processing a cryptocurrency transaction. Gas f...
- Network Fee- The fee charged by the blockchain network to process a cryptocurrency transaction. Network fees vary...