One should think about how they want to access their wallet first! Are a full time mobile user or a desktop users? Do you want to log into a website, or use hardware which stores your keys offline? Some wallets do not work across all platforms, so this is important to bear in mind.
Then do some research on the wallet to know whether the wallet you're planning to use supports the desired cryptocurrency that you invest in.
Also make sure that it's reputable and trustworthy. Mostly the wallet providers offer a step by step guide for using their app, and the process isn't too dissimilar from setting up an email address. It's worth creating a back-up of your password private and storing it safely.
When ever necessary use cold storage options, especially when you are using cryptocurrency for a rainy day. Hot storage is ideal when you are trying to create a “checking” account where funds can easily be accessed for transactions.
This a huge tip to be on guard for malicious software which can compromise security on your laptop or phone.
If you are using a hosted wallet provider, always be vigilant about the mails that you receive. Sometimes it may act up against you.
If you genuinely wish to create your own customized wallet. Get in touch with the experts who can provide you solutions for cryptocurrency wallet development. Since our experts are very much experienced providing cryptocurrency exchange development solutions, they can easily solve all your queries.