Hot wallet
A wallet that is always connected to the internet (an app or browser extension). Convenient for frequent transactions, but more vulnerable to hacking than a cold wallet.
See also
TRC-20
An equivalent of the ERC-20 standard, but on the TRON network. It is widely used for USDT transfers — fees on TRON are typically much lower than on Ethereum.
BEP-20
A token standard on the BNB Smart Chain (BSC), structurally compatible with ERC-20 but with lower transaction fees.
Cold wallet
A wallet whose private keys are stored offline (for example, on a dedicated device). It is considered the safest way to hold large amounts long-term.
Custodial wallet
A wallet whose private keys are held by a third party (such as an exchange) rather than the user. The principle "not your keys, not your coins" applies.
Non-custodial wallet
A wallet in which the private keys are fully controlled by the user, with no intermediary. It carries more responsibility, but also more control over the funds.
KYC
Know Your Customer — an identity-verification procedure that users complete on regulated exchanges to comply with the law.