RE: Question for the experts re Wallets8 Mar 2021 08:16
Depends on what you intend to do with it. If looking to trade reguarly, just keep it on a reputable exchange. Bitstamp, Kraken and Coinbase are reputable and have never been hacked if memory serves correctly.
Generally there's two different types of wallets: hot and cold. Hot wallets are typically ones downloaded to your computer or phone. They are considered hot because they are on a device connected to the internet which can be a security risk. For example if you're browsing a dodgy bike porn website your device may be affected by a virus which deliberately targets crypto users. Hot wallets should be treated like your normal everyday wallet/purse - good for smaller amounts.
Then there's cold wallets which typically are not connected to the internet, therefore reducing risk of any viruses. There are hardware wallets like Trezor and Ledger which connect to your device via USB cable and are supposed to be isolated, so when you sign a transaction any viruses on your computer should (technically) not be able to interfere. Some argue these wallets are not true cold wallets since they still have to connect to a device. True cold wallets require a process known as "airgapping" and usually this involves having a second device which is never connected to the internet at all. It's a bit of a faff but should be considered if dealing with significant sums.
Like with all security, the higher the security, the less convenient the process. Personally I would suggest starting with researching the most secure way to hold your crypto. If we are going to "be our own bank" as they say, it's best to learn the most secure and correct procedures to protect our assets.
Some wallets here:
https://bitcoin.org/en/choose-your-wallet
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