Some of the wallets are designed for coins of only one type. Others can be used for more than one coin; other wallets can be managed independently (not custodial). The latter — such as on some cryptocurrency exchanges — will be custodial.
Each type of wallet is somewhat different, but in general, any of them will work with one or more crypto-currencies. They will be able to store one or more public addresses.
Full Node Wallet, aka a wallet with a full node, hosts a full copy of the blockchain. Private key management is independent.
Custodial: some of them allow the owner to manage their private keys. For others — the keys are stored with the custodian. The second is the practice of centralized exchanges such as Coinbase, WhiteBit, and Binance. This method of storing funds is more practical. If you lose the keys, access can be quickly restored. Such sites do not contain funds in hot wallets, and the bulk of their users ‘ assets are stored in cold ones.
Desktop Wallet: An application that connects directly to the coin client.
Mobile: in fact, the same software, but with the ability to run from a mobile or tablet.
Online wallet: a network wallet that does not require an app download, and the data is hosted on a real or virtual server. Some of them may be hybrid, allowing you to encrypt personal data before sending it to an online server. To make it more transparent how it works: For example, to top up the Bitcoin Global crypto wallet, you need to have an account on the site, an automatic wallet is created immediately, but at the same time, you need to have a cryptocurrency on another wallet.
Software: any software wallet.
Hardware: a remarkable degree of security, available on a medium. This may include USB devices, a flashcard that connects to the Internet for a while, sends and receive data, and then disconnect. We know Ledger, trezor.
Paper: This is a QR code printed on paper. Applicable for public/private keys. It is considered a bad idea because this paper is easy to lose.
Universal: a wallet that can simultaneously store addresses for several coins. It is worth considering that there is no single wallet for all cryptocurrencies. If you are tempted, for example, to download a similar one — most likely, these are scammers.
