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One of the most frequent method to connect terminals/ferrules to wires is to crimp them. Insulated (automotive type), uninsulated and ferrules need different crimping tool, which are also different from the dupont crimping tool. For the mains, it is also possible to use rigid wires, which don't need ferrules. It is not normal practice for machinery, but could be ok for a machine with negligible vibrations. You may decide according local regulations for machinery.
Using crimped ferrules /sleeves
It is preferable to use crimped ferrules on stranded wires and in a lot of countries, it is compulsory for machinery.
Good quality Ferrule crimping plier Knipex 97 72 180, 29 Euros.
For ferrules, you could also use the more common square crimper, search words 'HSC8 crimping'. There are also hexagonal crimp tools, like the Knipex 97 53 14: 150 euros!
Using insulated terminals
Insulated terminals 'faston' type, eyed or round terminals are crimped in two zones, one for electrical connection and the other for good locking of wire insulation. For this kind of insulated terminals, the colour is associated with wire size. It is also possible to use uninsulated terminals with thermo-retractable sleeve, but this need other kind of crimping tool. These type of terminals may not work well on small wires, so it is preferable with low cost crimp tools to use at minimum 1.5mm2 wires.
Top: Silverline PL55, 14 euros - Bottom: standard tool as found in low cost sets
The Silverline ratchet tool PL55 is not the best quality but is more usable than the basic tool sold with terminals assortments which needs athletic capabilities. The ratchet tool may need adjustment (see the teethed wheel on the side).
'Dupont'(mini-PV), Molex-KK254 and JST-XH connectors
'Dupont'(Mini-PV) terminals (pitch 2.54 mm, rating 3A) are low cost and as the power carried in a printer is low, they could be used for anything except heating. The problem is they are quite difficult to crimp with ordinary pliers. So you need a ratchet type crimp tool and learn to use it. It is NOT recommended to solder, as this create a hard point which under stress, WILL break one day. Note that to remove a Dupont pin or plug from its shell, you need to lift the small plastic tongue locking it with a micro screwdriver.
Molex-KK 254 are also connectors with a pitch of 2.54mm that you can find on printer boards (Duets and Smoothieboard).
JST-XH connectors are what you may find on Chinese clone boards and shall also be preferred to Dupont as they have a better locking and are mechanically coded. This prevent troubles. You may use the same crimping tool as for Dupont.
You can use a female JST-XH or Molex-KK on male Dupont headers, but there will be no locking.
Note that JST 'mini'(JST-PH) have different pitch (2mm) than Dupont and JST-XH and are not used on 3D printers.
There are miscellaneous kind of wire strippers. They guaranty good work with no cutted strand. The model shown on photo is not the most common but fairly practical as it automatically adjust to the wire size.