The Sweat Wallet is a hot wallet.
In general, a hot wallet is a digital safe place where you can receive, send, and store cryptocurrencies or tokens. Different hot wallets have different functionalities, such as exchanging one currency/token for another, withdrawals, staking, liquidity provision and more. For details and definitions of these functions, visit our $SWEAT specific FAQ.
A cold wallet, sometimes referred to as “cold storage”. It is a physical object, often resembling a USB memory stick, that holds your cryptocurrency safely offline.
Note: hardware-wallet (Ledger / cold storage) support is not yet available in Sweat Wallet. For higher security you can upgrade your Magic Key to a seed phrase in the app (setting it up costs a small gas fee in $SWEAT).