What’s the difference between a hot and cold wallet?Hot wallets act like checking accounts whereas cold wallets act like savings accounts. As the name suggests, hot wallets are used for the everyday spending of cryptocurrencies and typically only hold small amounts of any token, very similar to real wallets that people keep with them on a day-to-day basis.Cold wallets, on the other hand, are used for long-term secure storage of cryptocurrencies and typically holds large amounts of money that are not intended to be touched very frequently. Hot wallets are usually always connected to the internet to be readily usable while cold wallets are only ever connected to the internet to make a transaction. At KryptiWallet we store your private key in a way that makes us a cold wallet, but we allow you to use it like a hot wallet.