We recommend using a mobile/desktop wallet if you hold less than $1000 AUD of bitcoin.
Pros
- Free, and really easy to set up
- Accessible as your money lives directly on your smartphone or laptop
- Convenient. Using bitcoin mobile wallets allows you to send and receive bitcoins by simply scanning a QR code
Cons
- Security. Mobile and Desktop wallets are not secure enough to store large amounts of bitcoins.
Recommendations
For mobile, we recommend using Breadwallet or Blockchain Wallet for iPhone and Android users. They're quick and really easy to set up for beginners. Simply download the app from your App store and you'll be ready to go in minutes.
For desktop, we recommend Exodus as a wallet. It's one of the most secure and convenient software wallets.