Anyone new to blockchain and crypto can kickstart by understanding the terms and the nuts and bolts of the ecosystem. The following list will tell you what to pick and choose to set up so that you can see how the different spokes in the wheel are connected to each other and the tools available in the market.
Wallets do not store coins or tokens in the blockchain world; wallets store the private keys that grant access to the coins or tokens on the blockchain. A Bitcoin wallet is as simple as a single pairing of a Bitcoin address with its corresponding Bitcoin private key, and we can check our balance by going to blockchain.info or blockexplorer.com and entering our Bitcoin address. Examples are Custodial Wallets (Coinbase Wallet, Binance Wallet), Non-Custodial Wallets (MetaMask, Trust Wallet), Hot Wallets (Exodus, MetaMask, Phantom), Cold Wallets (Ledger Nano S/X, Trezor), Hardware Wallets (Ledger, Trezor, KeepKey), Software Wallets (Electrum, Atomic Wallet, MyEtherWallet), Mobile Wallets (Trust Wallet, Coinomi, MetaMask (mobile version)), Web Wallets (MetaMask (browser extension), Binance Wallet), Multi-Signature Wallets (Multi-Sig) (Gnosis Safe, BitGo), Brain Wallets (keys via algorithms), Decentralized Wallets (MetaMask, Rainbow Wallet), Paper Wallets (manually on paper, bitaddress.org).
