As someone who is fairly new to cryptocurrency there is one thing that really frustrates and annoys me above everything else, and that I imagine is a big hurdle to cryptocurrency becoming really mainstream and that is the big confusion and vague nature around wallets and safe storage of coins.
One thing you always hear is that you should not store your coins on exchanges and that you risk losing them in a hack. And most people, even those who do not buy cryptocurrency know about the big hacks in the past and how people lost a lot of coins. Something that naturally scare away a lot of potential buyers.
Then there is us who want to buy some coins anyway, but is it so damn frustrating to know where to store the coins you actually buy. Is there not some big guide out there that is updated on a continual basis with the best and safest method to store different coins? That would be an invaluable source. A place you can go to look up the coin you just bought and look up the best way right now that is available to store that coin in regards to security and that you can trust is legit etc. If the coin has a dedicated wallet, if it supported by some hard wallet like Trezor or Ledger etc, if there is a trusted paper wallet generator and how to do it by step in step instructions etc.
Do anyone know of anything like this?
You can find out coins supported by Trezor
here and by Ledger Nano S
here. All it took me was a minute with Google to find that info. It never hurts to start out right by using a hardware wallet for coins you are interested in. You never have to worry about having your coins stolen by malware. Some coins like Monero do not have hardware wallet support yet.
If you are going to store more than a few hundred dollars worth of bitcoin on a phone you might want to use Mycelium Android wallet with either a Trezor or Ledger Nano S hardware wallet managing the private keys. All it takes is an OTG cable and a newer Android phone.
Safety is relative. If you have possession of your private keys on a desktop wallet that is always safer than an online wallet and probably most exchanges. However you do have to worry about malware stealing your bitcoin, even with a password protected wallet. That is why hardware wallets are so popular and Trezor and Ledger often sell out.