Hot wallets are Bitcoin wallets that run on Internet-connected devices such as computers, mobile phones or tablets. Private keys are secret codes. Because hot wallets generate their private keys on an Internet-connected device, they can not be considered 100% secure.
Consider a hot wallet like your wallet: you use it to keep money, but not all of your savings. Hot wallets are good for making regular payments, but not good for storing Bitcoins safely. Jordan Tuwiner Founder, Buy Bitcoin Worldwide