- Hardware wallet – this is a hardware device where you can keep your Bitcoin offline. This wallet type is the best choice for those who consider safety a priority.
- Online wallet – this is a cloud-based wallet provided by a Web-based service. It is clear that you can access the wallet through a browser.
- Software wallet – this type of wallet is more secure than the previous one. You should download a PC or mobile application to operate with it.
- Paper wallet – it resembles a credit card, and it has the Bitcoin addresses and keys printed on it. You can build a paper wallet on your own.
If you haven't already, I would suggest setting up one of the above wallets and getting your coins off your exchange!! (Coinbase)
Question to you all to see if anyone reads even this far.... when would you NOT want to have your cryptocurrency on a wallet?
I would say if your day trading, then it would not be a good idea to use a wallet. Any others?