Know the wallet types

In escrow accounts, the service provider manages the private key and recovery process; in self-hosted wallets, the user saves the recovery phrase or private key. Hardware, mobile, desktop, and web wallets vary in convenience, attack surface, and recovery liability. Either choice requires an understanding of the backup and recovery process.

Checklist for this step

• Recovery phrases and private keys should be saved offline and never entered into unfamiliar websites.
• Before storing large amounts for a long time, first understand the backup and recovery test methods of the wallet.
• Only download the installer from the official channel of the wallet.

Official further readingBitcoin.org Wallet SelectorOpen in new tab ↗