Can someone point me to a guide explaining all the different types of wallets that exist and the pro/cons of each?
- Full client: The client downloads and manages the blockchain
Examples: Bitcoin-Qt, bitcoind,
- Simplified Payments Verification (SPV):
Examples: MultiBit, Bitcoin Wallet for Android
- Mobile client to a back-end server.
Examples: Bitcoin Spinner
- Mobile hybrid client with a back end, but the wallet is stored locally.
Examples: Blockchain for Android, iOS
- Hosted (shared) E-Wallet: Users have accounts with the service. All private keys are owned and stored by the service provider. There is a high risk without two-factor authentication. InstaWallet, EasyWallet, and BitcoinVideoPoker.com all offer "low security wallets" where simply knowing the URL is all that is needed to spend the funds. Others require a username / password or other authentication credentials.
Examples: InstaWallet.org, Coinbase, Mt. Gox, etc. and even services that provide walleting for customer funds -- like bitZino.
- Hybrid E-Wallet: Only an encrypted form of the private keys are stored with the service. The wallet is accessed from a local data store.
Examples: Blockchain.info/wallet and StrongCoin
- Physical wallet. Private key travels with a physical object.
Example: Casascius physical bitcoins, BitAddress paper wallet.
Some more information on several of these:
-
http://bitcoinmagazine.com/bitcoin-wallet-options/
