1) Hot storage - involves a custodial operator (for example, an exchange) storing the private keys of its users or access credentials for cryptocurrencies on devices that are actively connected to the Internet.
Hot storage does not have to be an exchange. It can also be a non custodian wallet which is used to transact very often and always remains connected to the internet. A cold wallet on the other hand is ideally offline.
• Are you advertising a crypto wallet or an exchange?
• Is your service open source?
• There are already reputable alternatives, why should customers switch to your service?