There are many different types of home studio microphones to choose from. Each type has its own pros and cons. The two most common types of microphones are Dynamic Microphones and Condenser Microphones. Dynamic Microphones are rugged and best for live performances. Whereas condenser Microphones are super sensitive and provide the best sound quality, but they require phantom power from the mixer or audio interface. Finally, ribbon microphones use a thin electrically conductive ribbon placed between the poles of a magnet to produce a voltage by electromagnetic induction.