If you've ever used a cryptocurrency exchange then you might have come across the term "Hot Wallet." You may also have heard how risky they can be and, if you've looked into it any further, read horror stories about hackers stealing silly amounts of cryptocurrencies straight from exchanges.
So what exactly is a hot wallet? And what distinguishes it from its opposite number: a cold wallet? What are they used for and, if you already own any cryptocurrency, is it currently stored in a hot wallet? You might, if you've just stumbled across this article, be wondering what temperature has to do with wallets in the first place!
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