He's asking about private vs public, not dynamic vs static. In Malaysia both private and public IP are dynamic unless subscribe business package with fixed IP. The dynamic IP changes everytime you make a connection (turn on router).

For private vs public IP, there shouldn't much difference if you don't do anything that requires direct access to your home network from the Internet. If you need to such as CCTV and hosting then public IP is a must. Other than that, the only thing is probably some sites may block you or present captcha on private IP since it detected alot of connections from the same public IP that many private IP users are sharing.

Private IP means the router WAN IP is in the private IP range. This is because the ISP ran out of IPv4 addresses and therefore made several customers share the same public IP. Basically it's like a double NAT connection. You can't host anything with this type of connection because there is no public IP that can directly route to your router.

Public IP:
Internet----- (public IP) home router (private IP) ------ internal home network

Private IP:
Internet-------- (public IP) ISP router/NAT-------- (private IP) home router (private IP) ---------- internal home network

This post has been edited by AV_2018: Aug 30 2019, 02:28 PM

Well, IPv6 is supposed to get rid of NAT requirement. Some routers like Asus have a properly working IPv6 firewall. It's a firewall not a NAT. Blocks incoming connections but doesn't change the address.