A hot wallet is a type of digital wallet used to store cryptocurrencies that is connected to the internet. This makes it easy for users to access and manage their digital assets quickly. Hot wallets are often used for everyday transactions and trading because they allow for fast transfers and convenience. However, being online also makes hot wallets more vulnerable to cyber attacks and hacking. Users should be cautious and consider security measures, such as two-factor authentication, to protect their funds. Popular examples of hot wallets include software applications and web-based platforms like Coinbase and MetaMask.