DEFINITION
A cryptocurrency wallet connected to the internet, used for active transactions.
IN DEPTH
Casinos keep a small percentage of funds in hot wallets to process withdrawals instantly. The remainder should be in cold storage.
WHY THIS MATTERS
Why Hot Wallet Matters When Choosing a Crypto Casino
A casino keeping large funds in a hot wallet is a security risk. If the casino is compromised, hot wallet funds can be drained immediately. Reputable casinos hold operational funds in hot wallets and the majority in cold storage. This distinction separates well-run operations from risky ones.
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