Have you ever dreamed about a product that will be highly secure as a cold crypto wallet, but with fast transaction speed and high accessibility like hot wallets have? Well, then you need to pay attention to the warm crypto wallets.

Positioned between cold storage and hot wallets, warm wallets offer a unique balance of convenience and security that is transforming how users engage with blockchain networks.

Today, we will break down the uniqueness of warm crypto wallets, what they take from cold and hot ones, and why it is the future of Web3 services.

Just a small remark before we get to the main part – contact Evercode Lab’s team today to learn more about the possibilities to develop warm, hot, or even cold wallets, which will perfectly suit your business!

What is a Warm Crypto Wallet?

Warm wallet is a service that allows you to interact with a cryptocurrency wallet without having access to the wallet’s private keys.

Unlike hot wallets, which are always connected to the Internet, and cold wallets, which are completely offline, warm wallets maintain limited online connectivity. This allows users to interact with the Web3 ecosystem while reducing exposure to potential hacks.

Moreover, this type of crypto wallet provides fast transactions from wallets to designated addresses and amounts by authorized users of the service. More about the main difference between hot, cold, and warm wallets you can find in our article. 

Talking about security, warm crypto wallets have taken the high security level from cold wallets. For that reason, none of the service’s users have access to the wallet’s private key. Also, the wallet allows conducting only authorized operations from a wallet, which means there are strictly defined routes for the movement of funds. 

Warm wallets are especially useful for users who want regular access to their digital assets without compromising too much on security. They are ideal for signing smart contracts, managing NFTs, and engaging in DeFi, where interaction speed matters but full-time internet exposure is too risky.

Why Warm Wallets Matter in Web3

The rise of Web3 wallets has brought about a surge in demand for more flexible solutions. Now, the warm crypto wallets seem like a perfect service.

Taking a closer look at the wallet, we can say that it is designed to solve the eternal problem of reaching “the perfect compromise solution”, because, as we used to think, the greatest security for the safety of funds in a wallet can be achieved if absolutely no one has access to the wallet.

If we regard hot wallets as a hot asset, transactions from which can be accessed by many users, and the recipient can be anyone, while cold wallets are the most restricted, with only a limited number of people having access to any type of transaction, then warm wallets fall in the middle.

Many Web3 users are now seeking alternatives that provide better key management, customizable access levels, and seamless integration with dApps. Warm wallets deliver on all these fronts, becoming a vital tool for developers and users alike.

A Game-Changer for User Experience

From onboarding newcomers to managing high-value assets, warm wallets are shaping the future of crypto wallet UX. The service itself has a lot of necessary functions in its core:

  • Sending transactions from a wallet registered in the service strictly to pre-approved addresses;
  • Work with ETH, BTC, TRX, and other essential networks + any EVM networks;
  • Managing a flexible system of users and permissions within the service, with zero access of any user to the private key;
  • A simple UI for working with the service for users;
  • Work entirely on the user’s infrastructure, without the risk of hacking smart contracts.

As more Web3 platforms, such as crypto exchanges, loan services, investment services, etc., adopt warm wallet technology, users gain better control over their assets with reduced friction. This improved usability is helping to bridge the gap between Web2 familiarity and Web3 functionality.

How Evercode Lab Can Help You

At Evercode Lab, we understand the evolving demands of Web3 products and provide tailored solutions to support your growth:

  • A boxed service with step-by-step instructions for setting up your warm wallet;
  • Initial support for the use of the solution for several months;
  • The ability to manage and configure user roles based on business needs;
  • Prioritization of adding new blockchain networks to ensure compatibility and scalability.

Whether you’re launching a new dApp or enhancing an existing product, our warm wallet solutions offer the flexibility, support, and innovation you need to stay ahead. Contact us today to discuss the warm wallet development in more detail!