Your Bitcoin wallet is the equivalent of a bank account. You can receive, store and transfer Bitcoins to and from your wallet.

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Wallet TypeIs it a hardware wallet or a software wallet?
Soft Soft Soft Soft Soft Soft Soft Hard Hard
Web InterfaceCan you access this wallet through a browser or an internet connection?
Yes Yes No No Yes No No Yes Yes
Mobile AppDoes this platform have a mobile interface?
Yes Yes No No Yes No Yes Yes No
Desktop ClientAre you required to download software to access the wallet?
No No Yes Yes Yes Yes No Yes Yes
Independent Wallet PrivacyWill your funds be controlled by the wallet manufacturer?
No No Yes Yes Yes Yes Yes Yes Yes
PrivacyCan transactions be traced back to your identity?
Moderate Weak Good Good Good Moderate Good Good Good
SecurityHow difficult is it to hack into your wallet?
Good Good Good Good Good Good Good Good Good
Easy for New Users?How simple is it for new, non-technical users to pick up?
Yes Yes Yes No Yes Yes No Yes Yes
Pro’s Beginner friendly
You can add funds from within the wallet
Established and respectable company
Established company
Friendly interface
Available on mobile and web
Easy to use
You can trade Cryptos from within the interface
Great support
Many security and privacy features
Stable system
Good security measures
Great user design
Supports multiple devices
Easy to set up
Respected brand
Safe, secure system
Easy to use, Multiple Password for Multiple Accounts, Extra Security and Verification, Affordable Hardware Wallet with Screen Multi-Currency Support, Second Screen Capability, Affordable
Cons Company has some control over your funds
Depending if you’re using Vault.
Not worldwide yet.
3 rd party trust required
Anonymous payments are difficult to make.
Limited to desktop at the moment
Relatively new company
No mobile app
No web interface
Requires own PC on hand
Requires a lot of free space to store the Blockchain
No support
Can be tough for beginners
Weak privacy features
Average security features
Can be tough for new users
Only available online
Requires an Android or Blackberry phone
Some Coins Can’t Be Stored Can’t Be Used on Mobile Devices, Slightly Lower Security Levels
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As with all forms of money, your wallet should be secured. Bitcoin enables you to transfer value anywhere in a simple manner, allowing you to be control of your money. This requires great security measures and this level of protection is available but do remember it is your responsibility to adopt good practices to safeguard your money.

Disclaimer: Bitcoin is new to you and therefore you should take serious precautions before starting any serious transactions. Remember it is your responsibility to choose your wallet carefully and protect your money.