Hot Wallet

A Hot Wallet is when your seed phrase is stored in a wallet that connects to the internet. This usually looks like a browser extension, such as MetaMask, or it can be stored in your browser, an example being the Near Wallet which we will explore later.

Using this method you usually want to backup your seed phrase somewhere else, usually as a paper wallet. A blockchain called Near allows you to save this backup in your email. This is very convenient allowing you easy access to your wallet.

The risk of using a hot wallet is that it's possible for someone to steal your money if they hack your computer. Your wallet is only as secure as your backup so if someone can find the paper you wrote it on or get into your email they can steal your money. PLEASE BE AWARE before putting your seed phrase in any wallet make sure the website you are connected to is valid.

Hot Wallets are easy to access and convinient for traveling but hackers can potentially hack the server you are using and steal your funds, or is someone finds your password they can access your account.
Make sure the website is using https:// url prefix and has an SSL certificate (lock icon next to url). This DOES NOT guarantee that the website is real but it is good to know. link with lock icon next to it.