Desktop-based wallets remain one of the securest ways to store coins.
Encrypted private keys never leave the computer, keeping them away from
untrusted third parties. It is advisable to choose a dedicated machine
for storage, and
be aware that in case of a hardware failure, your wallet may not be
recoverable. Some wallets allow you to generate a recovery phrase, or
generate a multi-sig wallet, which can alleviate this issue.
An offline document which contains all of the information needed to
generate a wallets private keys. This often refers to any documented,
offline storage of coins,
including physical Bitcoins sold online. Paper wallets are not always
secure, and must be generated offline with strict security in mind.
Refunding and reuse of a paper wallet is considered to be discouraged,
as is the general reuse of addresses.
A physical, external device used to store a part of a users wallet
offline. There is a great security benefit to using this type of
wallet. Private keys are secured in the device itself, and can not be
transferred into plaintext. Devices can not be written to and are
therefore not susceptible to malware.
A web-based account that allows for the storage of digital currency.
They are faster than the traditional desktop client,
because users are not required to download the blockchains entire
The trade off is that it often requires you to trust a third party to
keep your coins safe. Choose a provider that gives access to your
private key, and utilizes advanced security features such as multi-sig.
Memorizing a string of words, users can generate private keys to access
their Bitcoin. It is best to use randomly generated phrases, as humans
are not a good source of entropy. There is also a high probability of
misremembering your passphrase, so it may be a good idea to keep a
hardcopy somewhere safe.