I am still yet to understand the concept of open/closed wallet, software/hardware wallet, online/offline wallet. I keep getting them mixed up whenever I try to have a grasp of them.
they don't need explanation as they are what they are.
open wallet means if they are opensource which means the codes are open for everyone to see.
close wallet means, its not open for everyone to check whether there is a back door to it.
the rest of the wallet means it is what it is.