There are two main types of Bitcoin wallets most people use they are Software and hardware wallets. The best option for people new to Bitcoin is to play with small amounts in software wallets until you feel comfortable. Then if your ready to invest a larger amount consider using a good hardware wallet.
- are just that, a physical piece of hardware built specifically to store your coins in an offline environment. What this means is Hardware Wallets are one of the safest ways to store your Bitcoin but can cost anywhere from $50 - $100 plus.
- are free and the most convenient option. You can use them on pretty much any device (smart phones, computers, tablets). But the trade off is security, for instance you wouldn't want to hold much coin value on your phone as these devices are known to be insecure. You could hold a larger value on a software wallet installed on a computer that you know has limited internet access and is safe for example.