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A "hot wallet" is a cryptic currency wallet that is kept online and connected to the internet, which stores the public and/or private keys for cryptic currency transactions.

In addition to hot wallets, there are also "cold wallets".

A "cryptic currency wallet" is a device, program or a service which stores the public and/or private keys for cryptic currency transactions. In addition to this basic function of storing the keys, a cryptic currency wallet more often also offers the functionality of encrypting and/or signing information (ie semi-smart contracts, cryptic currency transactions etc.)

Wallets can be "cold wallets" or "hot wallets".