So there's different type of wallets out there, paper wallet, hardware wallet, mobile wallet, browser-based wallet.

Then there's different things that people do with their cypto: holding it for months, trading it every day on exchanges, using them on their respective blockchain ecosystem, etc.

My question is: What kind/method of storage is best suited for each activity?

Different ways of asking the same question:
What is a paper wallet best suited for? Or;
When is it good to use a browser-based wallet? Or;
What is the advantage of a mobile wallet?

Thanks!