Hot Wallet

The term hot wallet refers to a cryptocurrency wallet (also called CryptoWallets) that is connected to the web and cryptocurrency network. Hot / crypto wallets are used to send and receive diverse cryptocurrencies as well as monitor how many crypto tokens a user has available in this wallet. There are hot wallets which allow you to manage only one currency and others that allow you to integrate and transfer multiple currencies. An example of a hot wallet is Metamask.