Hot Wallet

A hot wallet is any crypto wallet with an active internet connection: MetaMask, Coinbase Wallet, Phantom, or an exchange's custodial wallet. The upside is speed — you can send, swap, or connect to dapps in seconds.

The downside is exposure. Hot wallets are targets for phishing, malware, and exchange hacks. Best practice is to keep only what you actively spend in hot storage and move long-term holdings to a cold wallet.

Why it matters for Milo customers

Milo doesn't hold collateral in hot wallets. For day-to-day crypto management as a borrower, hot wallets are fine for small balances — but anything you plan to pledge as collateral should move to cold storage or a qualified custodian.

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