Types of wallets: hardware, software, wallet
Hardware wallet
A special "U-key" for storing private keys, not connected to the internet, signing transactions occurs on the device.
Advantages: private keys are stored offline, security is very high.
Disadvantages: purchasing the device requires expenses, for each transaction the device needs to be connected and a PIN code entered, not suitable for high-frequency trading.
Suitable for: investors who hold large assets for a long time and have very high security requirements.
Software wallet (hot wallet)
Applications installed on smartphones, computers, or in browsers, such as Trust Wallet, Metamask.
Advantages: free, convenient, the ability to make transfers at any time, suitable for daily transactions.
Disadvantages: private keys are stored on network-connected devices, viruses, trojans, and phishing sites can be harmful.
Suitable for: frequent operations with small amounts, beginners.