A hot wallet is a type of cryptocurrency wallet that stores private keys in an online environment. This puts the keys at greater risk of being hacked or stolen. Coinbase Wallet is a hot wallet. While it does have some security features, such as 2-factor authentication and a built-in exchange, it is not as secure as a cold wallet.
Cold wallets store private keys offline, making them much more difficult to hack. If security is your top priority, you should use a cold wallet.