Overview
Heat Wallet launched in 2016 by Heat Ledger Ltd in Finland. It's a combination of a non-custodial desktop or mobile wallet and a basic decentralized exchange built on the Waves blockchain. Despite its long tenure, trading activity has dropped to near zero - now labeled inactive on most tracking platforms - making it a niche tool for crypto hobbyists.
Wallet features and security
Heat Wallet supports Windows, macOS, Linux and mobile platforms on iOS and Android. It offers AES-256 encryption and two-factor authentication to secure private keys, which are stored locally and never online. Additional tools include a built-in blockchain explorer, token creation features, and email-alias messaging. These features provide flexibility but are rarely updated today.
DEX and trading pairs
The integrated DEX supports only three trading pairs - Bitcoin, XRP and Bitcoin Cash - and spot trading only. Trades incur a 0.01 HEAT flat fee. However, the exchange shows no daily volume and is considered inactive by most platforms. Liquidity is essentially nonexistent.
Activity, liquidity and user trust
Heat Wallet's trading platform has no visible liquidity or reported trading activity. The user base appears dormant, and there are no recent updates, community discussions, or active development. Wallet usability receives moderate user ratings, but the DEX itself is likely unused. GitHub repositories and documentation have not been maintained.
Pros and cons
- Non-custodial architecture with full local control
- AES-256 encryption and two-factor security
- Available across desktop and mobile platforms
- Includes tools like explorer and messaging
- No meaningful trading activity or volume
- Only three supported assets
- No fiat support or modern trading tools
- No community, no updates, and no developer activity
Who it fits and who it doesn’t
Suitable for:
- Users who want to store crypto locally with a simple UI
- Developers or hobbyists testing older blockchain systems
Not suitable for:
- Anyone wanting liquidity or active trading
- Users needing fiat gateways, support or timely updates
- Those concerned with platform reliability or longevity
Final verdict
Heat Wallet may still function as a basic non-custodial wallet for those who value self-custody and basic encryption. But as an exchange, it is effectively obsolete - with no volume, support, or community. The DEX may have been ahead of its time in 2016, but today it's mostly a relic. Use it only if you know what you're getting into and have no expectations of service or liquidity.