The coins are not inside the app.
Why it matters
Good wallet choice begins with purpose and loss tolerance, not a universal ranking.
Four different things called a wallet
A browser extension signs near web applications; a mobile wallet uses phone security; a custodian signs for an account holder; a smart account puts authorization logic in contracts. Each moves the trust boundary.
Real examples, not endorsements
MetaMask and Phantom are representative self-custodial hot-wallet interfaces. Coinbase and Kraken represent custodial account access. Features, supported networks and recovery models change; verify at official destinations.
A safer operating pattern
Keep routine value separate from long-term holdings, inspect domain and transaction intent, revoke obsolete approvals, test recovery without exposing secrets, and treat unsolicited support as hostile.
When hot is the wrong model
Large, infrequently moved or organizational assets may justify hardware isolation, multiple approvers, policy engines or qualified custody. Added controls help only when recovery and governance are rehearsed.