We are going to choose the wallet model because it is the most secure.Here are the differences according to bitshares:
Every time christoph3 pays a transaction fee, that fee is divided among several different accounts. The network takes a 20% cut, and the Lifetime Member who referred christoph3 gets a 80% cut.
The registrar is the account that paid the transaction fee to register christoph3 with the network. The registrar gets to decide how to divide the remaining 0% between themselves and their own Affiliate Referrer program.
christoph3's registrar chose to share 0% of the total fee with the Affiliate Referrer and keep 0% of the total fee for themselves.
more information about fee
Fees paid by christoph3 are only divided among the network, referrers, and registrars once every maintenance interval (3600 seconds). The next maintenance time is 12/27/2017, 12:00:00 AM.
Most fees are made available immediately, but fees over 100 BTS (such as those paid to upgrade your membership or register a premium account name) must vest for a total of 90 days.
First you need to decide which account you would like to set up. There is either a wallet model or account model.Here are the differences.
The account model lets you login to your wallet from anywhere using only your account name and password, but your password is vulnerable to brute-force attacks which means it is important to use a very long password, ideally 20+ characters!
Bin file or brainkey
The wallet model has the best security, but is restricted to your current browser and computer. To migrate the wallet to another browser or computer, you may use the backup file or brainkey.
Wallet file backup required