Categories of Wallets

1. Custodial Wallets: These wallets offer a user-friendly entry point into the crypto space, relieving users of the complexities of managing private keys. Platforms like centralised exchanges provide custodial wallets, ensuring seamless transactions while prioritizing robust security measures (hopefully). Can be Hot or Cold wallets

2. Web Wallets: Web-based platforms equipped with software to facilitate transactions with blockchain networks. It's actually a web hosted application. While convenient, web wallets store private keys online, posing security risks for larger transactions. They are the definition of a Hot wallet.

3. Mobile Wallets: Smartphone apps that enable users to manage their crypto assets on the go. Leveraging QR code technology, mobile wallets offer convenience but may expose users to potential theft or loss of funds. They are all Hot wallets

4. Desktop Wallets: Software programs granting direct access to blockchain networks, with private keys stored locally. Desktop wallets offer enhanced security compared to web wallets but they're prone to unauthorized access. Being Hot or Cold wallets, depends on the networking access of the machine they're installed. If the machine is connected to the internet (even once), they're Hot wallets, while if it's always offline we can assume they're Cold wallets

5. Hardware Wallets: Physical devices storing private keys offline, providing really good protection against online threats. While offering great security, hardware wallets may come with a higher cost and limitations on transaction mobility. They are Cold wallets.

6. Paper and Metal Wallets: Offline storage solutions represented by physical copies of private and public keys. While offering secure cold storage, paper and metal wallets require meticulous safeguarding to prevent unauthorized access. They are the definition of a Cold wallet.

Each type of blockchain wallet presents a balance of convenience and security, based on the preferences and priorities of users.