Cryptocurrency wallets are an important accessory for any crypto trader or investor. This is because they help them in buying and selling their digital assets. Crypto players need wallets for storing cryptocurrencies because they guarantee security during storage. Wallets also provide a means for the protection and validation of transaction-related information. Hardware or software, hot or cold, these options do not change the fact that a good wallet is essential. Effective wallets provide dedicated solutions, far better than what the crypto exchanges provide.
A multi-currency wallet is a software that keeps a holder’s public and private keys. It also performs operations using multiple cryptocurrencies. A private key is a number encoded using different formats based on the wallet a user holds. It features a series of numbers and symbols generated at random. As regards a public key, this is a distinct address used within the Blockchain. Public keys are visible to every network member. One gets their public keys from their private keys. The public keys feature a combination of both letters and numbers. They serve as a sender or recipient’s identity. Private keys control the crypto wallet and are inseparable from the associated public key.
There are many multi-currency wallets. This follows the increased crypto adoption we see today. One must have a reliable multi-currency wallet that best aligns with their needs. Among the best include:
Five best multi-currency wallets for 2022
At the top of the list is Ledger, a multi-currency wallet supporting 1800+ coins. The hardware wallet also serves as an incorporated exchange. The device works by storing keys to the holder’s assets completely offline so no hackers can gain access. Ledger stands among the oldest hardware wallets in the digital currencies industry. It has a proven track record of greatest security. This multi-current wallet works well with most crypto apps, including DApps. Often, they are simply do not requiring any technical knowledge to operate. This device is also supported by very responsive customer support.
Trezor first hit the market in 2014 and remains the closest rival to Ledger. A very dependable hardware wallet, Trezor supports 1800+ coins and has two models. First generation Trezor One is different from 2018’s Trezor Model T (premium version). The two variants feature different characteristics. Nonetheless, they are both safe and reliable to store digital assets offline. Trezor Model T features an intuitive UX and supports more coins than its predecessor. This makes it a better choice between the two.
Supporting over 40 coins, this multi-currency wallet is a hardware crypto storage device. Its development was to work with the Shapeshift exchange. Nonetheless, KeepKey provides an amazing for digital assets offline storage and is independent. It stands out for its sleek and wide display. Users enjoy adequate visibility for transaction records or when viewing their assets. Among the strongholds of KeepKey include resistance to viruses and malware attacks. It also features an in-built exchange that provides commission-free trading. With a custom fee switch, KeepKey users can adjust the speed of their transactions. It is also affordable and works well with Ethereum-based DApps.
Launched 7 years ago, Coinomi supports more than 1770 coins. It is available across many devices (desktop/mobile). In ranks, Coinomi is one of the best multi-currency wallets. This wallet is 100% non-custodial and integrates 170+ Blockchain. It is compatible with modern DApps and collectibles. Among Coinomi strongholds include user-friendliness and custom fee provisions for individual coins. Coinomi also features multi-seed support for asset storage and management over different Blockchains. The fact that users can buy crypto using a bank card adds to its pros. There are also other privacy and anonymity provisions that add to its pros.
This is a desktop and mobile multi-currency wallet that supports at least 500 coins. It is non-custodial and users can store the seed phrase for the coins they hold. Among the strongholds of Atomic wallet include Simplicity in set-up and UX. There are also user purchases provisions where users can enjoy many fiat currencies. Atomic wallet is 100% anonymous and offers in-app customer support 24/7. It also allows for staking supported PoS coins.
There is a long list of multi-currency wallets to choose from. The best choice, however, would be one that goes well with your goals as a trader or investor.