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Think of a hot wallet like your checking account. It’s connected to the internet and meant for everyday use—fast, easy, and convenient. But because it’s online, it’s more exposed to risks like hacking or device failure.
A hot wallet is an app you install on your phone or computer. Before you start using it, you must create a backup. This backup allows you to recover your wallet if your phone is lost, stolen, or broken.
The backup comes in two possible forms:
Private Key: a long, complicated string of letters and numbers.
Seed Phrase: a set of 12 (sometimes more) simple words that act as your master password.
👉 Pro tip: A seed phrase is easier to write down and remember. Never share it with anyone. If someone gets it, they can take all your crypto.
TEXITcoin’s hot wallet is made just for TXC. With it, you can:
Send and receive TXC.
View your transaction history.
Check the “watch only” value of your Cold Storage Coin.
Move TXC from your Cold Storage Coin into your hot wallet when you’re ready to cash out.
You can even create multiple hot wallets—each one will have its own address and unique backup phrase.
⚠️ Remember: Hot wallets introduce “digital risk.” Mistakes like a lost password, hack, or sending to the wrong address can mean your crypto is gone forever. Start small—practice backing up, sending, and receiving before moving larger amounts.
