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A hot wallet is a type of cryptocurrency wallet that is connected to the internet, allowing for quick and easy access to funds. Hot wallets are commonly used for day-to-day transactions and trading due to their convenience. However, their constant connection to the internet makes them more vulnerable to hacking, phishing, and other cyber threats compared to cold wallets, which are stored offline. Hot wallets can be software-based, such as mobile or desktop apps, or web-based, hosted by online platforms. Users should take precautions, such as enabling two-factor authentication, to enhance the security of their hot wallets.
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Plena Finance's Smart Wallet functions as a hot wallet, providing users with instant access to their assets while connected to the internet. This mobile-first wallet emphasizes security through self-custody and Account Abstraction (AA) technology, ensuring that while users have easy and real-time access to their crypto for DeFi activities, their assets remain protected. With features like seamless multi-chain support and the ability to pay gas fees in any token, Plena is designed to offer the convenience and flexibility expected from a top-tier hot wallet.
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