Desktop wallets, mobile wallets, and web-based are forms of hot wallets. An example of this includes the popular wallet, MetaMask. All crypto hot wallets are susceptible to online attacks. This can come from hacking or phishing scams in regards to crypto.  

Hot wallets are easy to use because there is no need for any transactions between the offline and online account. The wallet is perpetually online. Crypto trades can be done from anywhere as long as you have a mobile or computer device with access to the internet. 

However, most users who hold a large amount of cryptocurrency would usually not keep a sizable amount in their hot wallets. If we compare it to our normal wallets, we would not carry most of our savings in it all at once. We would usually keep the bulk of it in the ATM. Likewise, most people keep their spending amount in their hot wallets and the majority of it in their cold wallets. In the case of exchange platforms, many of them keep their customers’ funds offline and keep a designated amount of funds in the hot wallet for withdrawals.