Your wallet is where you receive, store, and send bitcoins. There is essentially two types of bitcoin wallets: a software wallet and a web wallet. Both wallets have their pros and cons, and the decision will depend on your needs for a bitcoin wallet. The software wallet was the original bitcoin wallet created.
There are different types of software wallets. You’re in complete control over the security of your coins with the software. The bigger hassles of the software wallet is installing and maintaining it. Some people claim that the original bitcoin wallet, Bitcoin Core, is the best. It has been scrutinized and evolved since its creation. Once you install the software, the bitcoin client will attempt to establish a network and begin downloading the bitcoin block chain. There are plenty of similar wallets that all have their own drawbacks and specific functions.