Basically hot wallet helps to store the keys of your assets online by software. It could be a mobile application, desktop application, exchange platform or website based tool. Hot wallets are the most practical types of crypto wallets in the ecosystem, therefore hot wallets are the most preferred type of crypto wallet. But they have to be used by equipment which is connected to the internet. The fact that devices are connected to the internet means that hot wallets are more vulnerable to cyber attacks than alternatives.
