Intro to Ethereum Wallets
Wallets allow Ethereum users to both store and use Ether. There are many different ways to accomplish this. Below is a list of each option and a high level overview of what each option is best for.
Desktop wallets are downloadable apps capable of operating on Windows, MacOS, or Linux that allow users to interact with their funds.
Web wallets are wallets hosted on a website, they may be custodial or act as an interface for users to generate and interact with their accounts.
Phone and other mobile device-based wallets are mobile alternatives to desktop and web wallets.
Hardware wallets are the most-secure method for accessing your funds while online, as they do not expose your private key to the internet when signing transactions.
Multisignature Wallets are wallets created with signatures from several private keys. Multisignatures require signatures from a majority of the original signing keys (commonly referred to as n-of-m keys) in order to interact with the wallet. Ideally, the signing keys of a multisignature wallet should be comprised of several different types of wallets in order to reduce the risk of any one key from compromising the security of the multi-signature wallet. Multisignature wallets where the keys are properly distributd also reduce the risk of losing the keys to your funds due to unforeseen circumstances. For example, if a multisignature wallet included keys stored on a hardware wallet, a mobile wallet, and a desktop wallet and your mobile phone is stolen, you could still access your multisignature wallet using the hardware and desktop wallets.