Hot Wallets vs Cold Wallets

When looking into which wallet to store your coins, it's extraordinarily useful to know the difference between a cold wallet and a hot wallet. I'll explain the difference, and the pros and cons of both.

What's a Hot Wallet?

A hot storage wallet is a cryptocurrency wallet that is connected to the Internet. These are often free and easy to use, but there are have their negatives as well.

Pros

• Free
• Easy to get
• Easy to use for trading

Cons

• Lighter security than cold wallet
• Not as useful for storing large amounts
• In some cases they are custodial wallets

There are many examples of hot wallets, including mobile crypto wallets and exchange wallets. Here's 3 examples:

• Binance - Exchange
• Bittrex - Exchange
• Voyager - Mobile

Summary...

Read the rest of the article...