this post was submitted on 30 Oct 2026
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Binance targeted in $6.3 billion crypto heist, the largest ever (www.nbcnews.com)
submitted 1 day ago by return2ozma@lemmy.world to c/technology@lemmy.world
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[โ€“] 9488fcea02a9@sh.itjust.works 1 points 20 hours ago* (last edited 20 hours ago) (1 children)

they're not that useful in your own wallet because then you constantly need to move them in/out of the exchange and pay all the fees related to those transactions.

Hot wallets are for small amounts for daily spending

It's the same as constantly going to the ATM to get cash in your wallet....

Nobody carries around their whole net worth in their pockets

[โ€“] ExcessShiv@lemmy.dbzer0.com 2 points 19 hours ago

What that statement ment was, that you can't use it to invest and diversify you portfolio if its not in an exchange. So unless you keep the majority in the exchange, you can't trade it without paying the transaction fees every time.