Providers of online wallets include Exodus, Electrum and Mycelium. A hot wallet (also called an online wallet) is stored by an exchange or a provider in the cloud.
This might be what’s called a hot wallet or a cold wallet.
Regardless of where you buy your Bitcoin, you’ll need a digital wallet in which to store it. You can also buy Bitcoin at a broker like Robinhood. Major exchanges include Coinbase, Kraken, and Gemini. Exchanges allow you to buy, sell and hold cryptocurrency, and setting up an account is similar to opening a brokerage account-you’ll need to verify your identity and provide some kind of funding source, such as a bank account or debit card. Most people buy Bitcoin via exchanges, such as Coinbase.
