When you're first getting started with Bitcoin, it's important to choose a wallet that will be safe and easy to use. There are several different types of wallets available, and each has its own set of pros and cons. In this blog post, we'll take a look at three of the most popular types of wallets: software wallets, hardware wallets, and paper wallets.

Software Wallets
There are a few open source mobile options out there that are great starting points for beginners, such as Blue Wallet and Muun Wallet. Desktop versions like Electrum are also an option. Software wallets are hot wallets, which means they are always connected to the internet. This can be convenient for day-to-day use, but it also makes them more vulnerable to hacking attempts. If you decide to go with a software wallet, be sure to take extra security precautions such as using a strong password and two-factor authentication whenever possible.

Hardware Wallets
Hardware wallets are the most straightforward and popular form of offline cold storage. These wallets securely contain your private keys and typically come in the form of a flash drive-like device (popular ones include the Ledger Nano S or the Coldcard). The devices themselves are protected with a PIN so that your private key will still be somewhat safe even if your hardware wallet is stolen. Because your hardware is not connected to the internet, it is considered “cold” and a much safer method of private key storage than online “hot” wallets. These physical devices allow you to store your Bitcoin offline in what is known as “cold storage.” This makes hardware wallets an ideal option for large amounts of Bitcoin or for those who are particularly security-conscious.

Paper Wallets
A paper wallet is simply a printout of your public and private keys. It is considered one of the safest ways to store your Bitcoin because it eliminates the risks associated with digital storage devices (hacking, malware, etc.). Paper wallets can be generated for free using services like BitAddress or Bitcoinpaperwallet. Once you have generated your paper wallet, you will need to store it in a safe place until you're ready to use it. Be aware that if your paper wallet is lost or damaged, your Bitcoin will be gone forever!

When choosing a Bitcoin wallet, it's important to consider what type of user you are and what level of security you need. For beginners, we recommend starting with a software wallet like Blue Wallet or Muun Wallet. If you're looking for extra security, consider using a hardware wallet like the Ledger Nano S or the Coldcard. And for the absolute highest level of security, go with a paper wallet from BitAddress or Bitcoinpaperwallet. Whichever type of wallet you choose, be sure to take extra precautions such as using strong passwords and two-factor authentication whenever possible.