Phone and desktop wallets are hot: great for spending, dangerous for savings, because anything that compromises the device can reach the keys. Every exchange balance is effectively someone else’s hot wallet with your name on a ledger.
The rule from our reviews: a hot wallet holds what a physical wallet holds. Salary-sized amounts belong in cold storage. Our hot wallet picks (
Blockstream Green,
BlueWallet,
Phoenix) are chosen for making that split easy.