CRYPTO WALLET

Crypto wallets let you safely send, receive, and store your favorite cryptocurrencies. In the early these days, crypto enthusiasts primarily deal with Bitcoin and Ethereum. With the rise of various altcoins, all of that has changed. Instead, a new generation of investors and enthusiasts requires multi-currency wallets. These wallets support various tokens, and some even allow you to stake specific coins to earn rewards.

But first, let’s take a look at what are the various types of wallets available:

Types of crypto wallets

Hot wallets

These are online services that store your private keys online. A hot wallet provides easy access to your cryptocurrencies and allows you to send/receive assets in real-time. 

However, they are a favorite target of hackers and cybercriminals due to the value of tokens like Bitcoin and Ethereum. As a result, more wallets have adopted the non-custodial framework, meaning that your private keys are stored locally on your device.

Despite all this, I highly recommend that you do not store the bulk of your cryptocurrencies in a hot wallet. Instead, you should make use of a cold wallet for added security.

Cold wallets

Also known as hardware wallets, cold wallets store your private cryptocurrency keys offline, making them inaccessible to hackers. For this reason, many dedicated crypto enthusiasts choose to secure most of their holdings in cold wallets, as you can see in this article from Tezro: blog.tezro.com/best-multi-cryptocurrency-wallets/ 

Besides being immune from hackers, cold wallets can be secured physically by storing them in a safe. Recent technological developments have made it such that hot wallets can now interface with cold wallets for added flexibility, as we’ll see later in this article.

Crypto Wallets That Support Multiple Cryptocurrencies

1. Trust Wallet — Supports Upwards of 1 Million Different Coins

  • Easy-to-set up 
  • Can buy & stake selected cryptocurrencies
  • User-friendly design
  • Non-custodial framework

Trust Wallet supports more than 1 million different types of crypto tokens. All of which makes it an excellent choice for fans of niche altcoins.

It also allows users to buy and stake selected cryptocurrencies to earn additional rewards. This, coupled with the large selection of coins supported, lets you mix and match your portfolio to maximize returns.

The wallet’s user-friendly design makes it a great choice for new users looking to get into a diverse selection of cryptocurrencies.

On the downside, Trust Wallet has had issues with security and social engineering attacks. But recently, the company has taken steps to tighten up protection.

2. Coinbase Wallet — Compatible With 44,000+ Tokens

  • Great choice for beginners
  • Non-custodial framework
  • Backed by a reputable exchange
  • Only charges network fees

Coinbase allows users to gain access to a selection of more than 44,000 different tokens. All of which can be purchased from the wallet’s in-app exchange. 

Because it is provided by one of the most reputable exchanges in the world, Coinbase, you can rest easy knowing that security won’t be a problem. And as a non-custodial wallet, all of your private crypto keys are stored locally on your device, which goes a long way toward keeping hackers away from your tokens.

Unfortunately, Coinbase has faced issues in the past with unresponsive customer service agents. But the good news is that most of the complaints were made more than a year ago, and the issue has apparently already been rectified by Coinbase.

3. Coinomi Wallet — Supports 1,700+ Different Tokens

  • Available on macOS, Linux, Windows, and mobile devices
  • Can buy, sell, swap, and exchange 
  • Non-custodial framework
  • Zero fees charged

With Coinomi Wallet, you get support for more than 1,700 different tokens, thus giving you the freedom to explore the various altcoins that are available.

The wallet is compatible with most operating systems, including mobile devices. So that way, you can manage and access your cryptocurrencies while on the move.

While Coinomi has plenty of decent features, it is let down slightly by the lack of supposrt for 2-factor (2FA) authentication. But the good news is that various enhanced security features are in place to keep you safe. 

Summing Up

To sum up, choosing the right crypto wallet doesn’t have to be difficult. The key to staying safe is to ensure that you have good security habits and do your own research. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here