- *Hot wallets* (online, like MetaMask or Trust Wallet) are easy for daily use and quick trades, but less secure ‘cause they’re internet-connected.
- *Cold wallets* (offline, like Ledger or Trezor hardware wallets) are super secure for long-term hodling, ‘cause they’re not online, but pricier and less handy for quick moves.
- *Custodial wallets* (like on Binance) are managed by exchanges, chill for beginners, but you don’t fully control the keys.
- *Non-custodial* (like MetaMask) give you full control, but you gotta safeguard your seed phrase (12-24 words).
*Fits*: Hot for active traders, cold for long-term investors, custodial for newbies, non-custodial for control freaks (like me, lol).
*Setup in minutes*:
1. Pick a wallet (e.g., MetaMask for hot, Ledger for cold).
2. Download from official site/app store.
3. Create account, write down seed phrase on paper (not digital!), and store it safe.
4. Set a password, and you’re good to go! For hot wallets, add crypto by copying your address; for cold, transfer via a computer.