When we invest, the initial capital to do so besides money is of course a wallet.
Wallets are tools for you to store your coins. You can use free or paid wallets but don't think if you buy a wallet, it is better than a free wallet software. It depends on what wallet you buy or use. If you buy a bad hardware wallet, it is not better than you use a free open source non custodial wallet.
There are so many wallets out there today and I've been quite happy in the last few years to use Electrum as my wallet to store my assets.
However, given the cases of people losing their assets on Electrum, even though it may have been their own negligence, I'm wary because I realise that I'm one of those people who can be very careless and still make mistakes when it comes to seed storage.
Electrum wallet is safe and you can use the Electrum wallet as your hot wallet or your cold wallet.
People lost their coins because they are careless, it is not because quality of Electrum wallet. They can learn and use Electrum wallet with multisig or cold wallet.
Creating a multisig walletCreating a cold storage wallet