When dealing with crypto assets, there are two main types of wallets you can use to store cryptocurrencies: hot wallets and cold wallets.
Hot wallets are essentially stored on online websites and crypto exchanges. Hot wallets are accessible and easily set up, which make them a very ideal choice for beginners just starting out with cryptocurrencies.
You can easily find hot wallets that work on your browser like MyEtherWallet or Metamask. It is advised not to store too many funds on hot wallets at one time, as these are more susceptible to malicious attacks since they are connected to the Internet.
Cold wallets are stored offline and the most common types are hardware and paper wallets. Whenever you want to trade or make a transaction with hardware wallets, you have to use your account keys and disconnect them afterwards.
Paper wallets are physical printouts of a private key and public address, which you can use for your transactions. However, these are known to be quite risky, as the paper may be easy to lose.
While hot wallets are more common, the type of wallet you choose completely depends on your needs. Hardware wallets are arguably the best choice if you want a perfect balance between security and accessibility when handling crypto assets. Hardware wallets like Nano Ledger S/X, Trezor, and others are strongly recommended.