In order to hold ERC20 tokens on the Ledger Nano S, you have to install a 3rd-party software wallet, such as MyEtherWallet (MEW). This is not the case. Coinbase is an exchange and should not be used as a wallet. Like a bank account number, where the difference lies in the wallets having multiple addresses.
Which wallet is best for me? How long does it take to receive my Bitcoin after you send? Other wallet types are hot wallets. To set up a Jaxx wallet for desktop, first go to their website, then select the downloads tab. Interestingly, SMS 2FA security holes did not come to light until the popularity of Bitcoin began to grow. Dont just trust anyone with your money. Web wallets allow you to quickly access your coins from any internet connected device. If you download a desktop wallet on an internet-connected computer, it is hot storage.
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It also helps that it is one of the most affordable options out there at the moment. Authy Similar to Google Authenticator but potentially less secure as you can re-access the codes from an alternate mobile device if your main one is lost or broken (this feature can be disabled but is active by default). The only real downside for prospective users is that for all intents it is currently restricted to Bitcoin. Never give your private keys to anyone. The Setup OpenDime works in a similar fashion to most cold storage units.