I am confused on how cold wallets and hot wallets differ. To make any transaction we still need to get access to internet. Then how are they different?
Being connected to the internet makes the wallet hot and every wallet needs to connect to the internet for any transactions.
COLD WALLETS: Are not permanently connected to a network (the internet).
HOT WALLETS: Always connected to the internet.
The delineation is the ability to be able to remove the Crypto from the internet.
We have a detailed explanation of wallets and their advantages/disadvantages here:
https://midcrypto.com/pages/cryptopedia