What tool is used for holding and/or cutting wire?

Side cutting pliers are specifically designed to cut and hold wire effectively. They feature sharp edges that allow for clean cuts on various types of wire, making them ideal for tasks that involve electrical work or crafting. Their design includes a pivot point that provides leverage, allowing an individual to exert enough force to slice through wire with ease.

While needle-nose pliers are excellent for gripping and bending wire in tight spaces, they are not primarily designed for cutting. Channel lock pliers, on the other hand, are adjustable and primarily intended for gripping and turning pipes or nuts and bolts rather than cutting wire. Cable cutters are specialized for larger cables, offering the necessary strength and mechanics for larger diameter wires, but are not typically used for smaller electrical wires. Therefore, side cutting pliers stand out as the most suitable tool among the options provided for the dual purpose of holding and cutting wire.