Trezor

Best Wallet for Security

Trezor is a physical device that plugs into your desktop, tablet or phone to access your coins. The Trezor wallet works with multiple crypto currencies and works as a password manager and two-factor authentication device.

Trezor wallet offers backup options when setting up your device, but the recovery process is not necessarily easy.

Electrum

Best Desktop Wallet

The big benefit is that you can quickly get up and running and store your Bitcoin on your own computer. But if that computer crashes, is lost in a house fire, or ends up hacked or corrupted, you could lose your coins. The app does support a recovery process and allows you to create a physical “cold storage” with a printed or handwritten set of keys.

Blockchain

Best Web Wallet

If you prefer a webbased approach when it comes to your wallet, blockchain.info is a very good option. They have been around for a long time without any serious security issues. The userbase is quite large and the UI very nice to use.

Mycelium

Best Mobile Wallet

My personal favorite when it comes to a wallet for bitcoin is definitly mycelium. It's a bit retro and hacker-style with its dark design but is has still a nice look and feel. Most important the people behind this wallet are experts and it is well maintained and can be trusted. Obviously however you should not store your life savings in a mobile wallet. Reason: Imagine loosing your phone or it gets stolen, even with a backup from your keys, you risk that someone starts to try to hack your wallet. Your wallet is protected by an extra PIN code but how long will this stop the attacker? Now you need to be quick enough, restore from your backup and move funds to a new wallet. This scenario is okay if you keep a couple of hundreds or thousand bucks in your wallet. But this is no good for your life savings. People who heavily invested in bitcoin generally use a hardware-wallet or cold storage solution for their life savings. Mycelium is perfect for everyday use, when buying stuff online or ording a coffee at starbucks.