Does That Mean Hot Wallets Are Not Safe?

[Sapna kanwal 118]

My dear all the wallets are not trustworthy ,in case of hot wallets they are easily hacked by hackers these are not much secure for storeing coins .It is good to use hardware wallet or saoftware wallet to store your coins.Using hot wallet can be a risk for you.

[David84 1191]

I would not say that they are not safe , but I will tell you that they will keep your money on line , and if you have a lot of cryptocurrency you will be targeted by all sorts of hackers who steal people's money, but on the other hand cold wallets keep your money off line, you only use the network when you have something to do , like trading or transferring and all the other time your currencies will be away from all cyber attacks.

[JanBomCrypto 494]

On 1/6/2021 at 11:22 AM, Rimsha Kanwal 636 said:

Not all the hot wallets are unsafe. Few are not safe and are vulnerable to the hacking. So you first check out other people views about that specific hot wallet then download it and transfer money into that wallet....

@Rimsha Kanwal 636 Not few but all hot wallets can be attacked, even cold wallet can be attacked but attackers make use of malware. If we can avoid these malware, our hot wallet will be safe. But due to online activities, this make our device prone to malware download and installed. Also, like what you said, there are some wallet that are just vulnerable to attack. That is why we should use good reputed wallets. 

[SuperCrypto 7193]

In fact, there is a very easy solution in order to protect the large balance, you can distribute your balance to several wallets, so no one will try to penetrate one of these wallets, knowing that hacking a wallet is not easy at all, but distributing the balance helps you avoid this risk.

[Rida nasir 801]

Generally hot wallets are easier to set up, access, and accept more tokens. But, hot wallets are also more susceptible to hackers, possible regulation, and other technical vulnerabilities.Many people here are saying that no hot wallets are not  at risk we used them but majority is authority i read many traders that not to keep large amount of crypto coins in hot wallet.

[Momo_064 1281]

On 1/27/2020 at 1:59 PM, Sami balta said:

For determining how secure a hot wallet is, one will have to study the reputation and behavior of the third parties and individuals who are connected to the hot wallet. Anything that is linked online is prone to hacking and attacks. So, miners usually prefer keeping a small amount in their hot wallets, as an attacker will not waste his/her resources just to get hold of a small amount.

Hot wallets are linked with the online so it can be attacked by the hackers. But we should be very careful about the security and privacy of these wallets. Cold wallets aren't linked with the online, these wallets are offline wallets and these wallets can't be attacked by the hackers so I think cold wallets are more safe than hot wallets. 

[Malikjnb 1235]

I don't use hot wallet therefore I don't know about this. I only use web wallets . I personally use payeer wallet. This wallet is very safe and secure wallet. It is very trusted wallet. It's transection fee is very low and it's security is very high. I suggest you to use it.

[MisbahJam 801]

Mostly hot wallet are secure and safe our Crypto assets remains safe and secure in these platforms.these provide us good opportunities and services more these are the most important source of income for us .We can easily send, receive and exchange our Crypto assets.these have good transaction system with low charges thousand of people use these platforms.these have simple interface and easily understand by beginners without facing any problems.These possess excellent remarkable, splendid features.

[Jawad Nazeer 131]

Now a days lot of wallets introduce and most are scam. So we should be careful and use most popular wallets. Hot wallet may or may not be a good wallet but I can't believe new coming wallets. I use coinbase and blockchain wallets.

[Jawad Nazeer 131]

People choose those wallets that are Old and most popular and not easily choose new and common wallets. But this wallet may be good

[Mhwiish 403]

Not at all all the hot wallets are not hacked easily.some of the hot wallets are safe and secure you can save your crypto currencies here without any problem and can not saccamed by saccamers.but some hot wallet arenot too good and can not provide good security.

[Umair12345 127]

I think there is a probability conditions for the hot wallets either they are much safe or not. The main important thing is the hot wallets security depends on how much you have made it secure by providing PIN key characters features. Otherwise every wallet could be the vulnerable in its working. 

[Waniya 87]

Definitely not. All wallets are not same as we all know there are alot of wallets in crypto market thus it became very difficult to choose a secure wallet among so many options as some of them are really not safe and if you guys try any unsafe wallet and if you lose your money then you think all hot wallets are not safe that's why one must choose a  wallet after Complete research about Its security system.

[Ali Rao 161]

Well dear mate i will never say that but I say that not every wallet are trusted now a days. There are lots of scammers who can hack our account easily so use coinbase wallet. Thanks

[Tandolker786 200]

There are many wallets in the market which are not all wallets are safe in the wallets market. Some wallets are not trustable. So always should select such wallets which are safe and secure and gives the guarantee. Many wallets are present in the market which supports the cryptocurrency and the BTC tokens. 

[Nurhosen2021 3]

If a person wants to live in a society, then he has to continue exchanging transactions.  Because people can never walk alone in society, if they want to walk in society, it should have cooperation.  Then that person can be happy in social life. So people have to face transactions.  Because no one can walk alone in the life of society, people face transactions with people.

[teebasas 3018]

While our security can lag and we may be easily hacked on a hot wallet if our system is compromised, I don't recall reading about a hot wallet being hacked. If we keep our cryptocurrency in a cold wallet, I'd say they're much more safe.

[Balqees555 214]

Yes, hot wallets are not safe because many wallets are present on the Google play store which are scam. And many scammers are hacked such wallets and you lost all your money by this. So always choose such wallets which are secure and which provides all the security guarantee. Blockchain wallets and trust wallet are best for containing the bitcoins safely. 

[Whited35 15285]

10 hours ago, Balqees555 said:

Yes, hot wallets are not safe because many wallets are present on the Google play store which are scam. And many scammers are hacked such wallets and you lost all your money by this. So always choose such wallets which are secure and which provides all the security guarantee. Blockchain wallets and trust wallet are best for containing the bitcoins safely. 

Hey nope, all hot wallets are not the scam. So you said, Blockchain wallet, do you know what sort of Blockchain wallet really is? It can be advised to choose the non-custodial Cold wallets but it does not mean all hot wallets should be completely neglected. Trusted hot wallets can offer some exceptional features that we can not get from cold wallets.

[azbah imran3 125]

As the hot wallet are online they can be attacked by the prone of hackers.They will hack and steal all your money .To choes a hot wallet is similar to trying luck .I will never suggest you to use a hot wallet if you want to try then keep a little amount in the wallet to save yourself from big lose

[Burhan12 287]

In some cases hot wallets can be hacked because these are connected to the net and having their private keys in different servers.Hot wallets are not good security wallets and having a risk of stealing money and don't make our transactions fully safe and secure .I advised you to use paper wallets which have cold storages are best to store our crypto currencies very well.

[Sanam jung 395]

Yes many of them are not safe.They are fake by scammers so we should only use and trust on the popular ones.I wish you good luck.

[azbah imran3 125]

I'm also using trusted wallet protect my privacy and secure my wallet they have high security system in which store money save and other that hardware wallet is one the best wallet in which you save money

[ammarkhkkh 753]

I don't know much about hot wallets, but I think you should research them and develop your knowledge of them.

[MrSpasybo 1049]

Compared to a cold wallet, a hot wallet is not as secure because when you store crypto in an account on the internet, at any given time, hackers can attack and steal your assets.
For cold wallets, only when you connect your device to the internet can you move your assets directly.
However, the advantage of a hot wallet is that it is cheap, simple, free and widely used.