Titans of the hardware wallet field Is "Cold Storage" Different Than Using A Cold Wallet? If the power goes out, then so does your hot wallet.įor example the popular mobile wallet BRD is an example of a hot wallet. Hot wallets derive their name from the fact that they need electricity to work. The phrase "hot wallet" refers to any bitcoin wallet that requires the internet to function properly. Generally speaking, Bitcoin wallets come in two main types: Hot wallets
All of this begs the question, however, of how many different types of bitcoin wallets there actually are.