Wallets allow users to receive and spend ZEC for payments. Some also support sending and receiving encrypted memos. Below is a list of available options and a high level overview of what each option is best for.

Mobile shielded wallets are wallets on mobile phones that support shielded Zcash addresses (z-addrs) and encrypted memos.

Mobile Auto-shielding wallets are the same as above except when transparent funds are recieved, the wallet automatically moves the funds into a shielded address.

Transparent wallets are wallets that only support transparent addresses. These wallets are similar to bitcoin wallets and thus offer the least amount of privacy protection.

Hardware wallets are known for their security. These wallets store funds offline. Hardware wallets currently only support transparent addresses. Users must make a security and privacy tradeoff when using hardware wallets.

Desktop wallets are downloadable apps that can operate from Windows, MacOS, Linux, etc. These apps allow users to interact with ZEC on their desktop devices.

Web wallets are wallets that you can access from your web browser. They give a users a web interface to interact with their funds.

A full-node wallet is special case of desktop wallet for users who may want to mine Zcash and or validate transactions and blocks, in addition to sending and receiving ZEC. It downloads a copy of the Zcash blockchain, enforces rules of the Zcash network, and can execute all functionalities.