Sumit BeraMon, Jul 20, 2020 10:29 AM
Top 15 Multicurrency Crypto Wallets 2021
Cryptocurrencies differ from other assets because they are kept and transmitted in another way. These tokens are saved directly in the blockchain, and all the essential data is also stored by the chain. So, to manage tokens, one needs to use a multi-currency crypto wallet.
What Is A Multi-Currency Wallet
Multi-currency wallets are devices, online services, programs for PCs, or mobile apps that allow users to store cryptocurrencies and transact them (buy, sell, or exchange). Depending on their type, they have different designs, features, and security levels.
These wallets are divided into two categories:
- Hosted. The keys are stored on the network by a trusted third party.
- Non-hosted. These are programs for computers and smartphones. Users need to store their keys themselves while using a non-hosted wallet.
Top-15 Multi-Currency Wallets
- Bitcoin Core.
- Exodus Wallet.
- Jaxx Liberty.
- Trust Wallet.
- Atomic wallet.
- Ledger Nano S.
- Bitcoin Paper Wallet.
How Cryptocurrency Wallets Operate
Such wallets aren’t developed to store digital currencies. These programs provide users tools that let them connect with the blockchain network. They include a public address, which consists of letters and numbers. This code is a kind of location on the blockchain where a particular user can transmit coins. It is possible to send a public address to the users who receive the funds, but you should avoid showing your private key to others.
A private key provides access to your assets, and it works for all cryptocurrency wallets. Therefore, you can access your funds if your computer or smartphone has been hacked. You only need to provide your private key.
Types Of Cryptocurrency Wallets
Such wallets are useful for beginners because users don't need to buy additional gadgets or install programs. The only thing one has to do is to choose the platform and sign up. Such wallets have a user-friendly interface and are initially synchronized with the blockchain network, even if the user is offline.
Cryptopay enables users to transfer coins between their wallet and SEPA bank account and store their assets in a portfolio. The wallet is protected by two-factor authentication.
Coinbase is a cryptocurrency platform for the safe storage and transmission of coins. All assets are protected by insurance. Private keys are stored on the server, and user coins are stored on a cold wallet. This platform has the app available for iOS and Android devices.
Users need to install programs on their PCs to access these wallets. This type is divided into two categories, such as “thick” (full-node clients) and “thin” (light-node clients). The first type can take hundreds of gigabytes of hard drive space. A thin multi-currency wallet makes requests to the blockchain via a trusted website.
Bitcoin Core is a BTC wallet developed by the Bitcoin Foundation. This thick program provides secure storage for digital coins.
Exodus wallet is available for over a hundred altcoins and has a built-in exchange feature. Moreover, it can be connected with the Trezor Crypto Hardware Wallet.
Smartphone And Browser Wallets
Mobile wallets are available through apps. It is possible to use them while shopping because they work like ApplePay.
Pros of mobile wallets:
- Available to use on the go.
- Useful features, such as a QR code scanner.
Cons of mobile wallets:
- All assets will be lost if you lose your phone.
- Easier to hack.
Coinomi wallet is a multi-currency wallet with two integrated exchange services (Shapeshift and Changelly). This app supports more than 100 coins, and all keys are stored there.
Cryptonator wallet has a 2-factor authentication and provides both mobile and desktop versions. It allows users to keep up to 16 coins.
Browser wallet is an extension for Chrome and Opera wallets. To access your account, you need to enter your seed phrase.
Jaxx Liberty is an extension for Chrome that provides access to over 80 coins. Users can access recent news, and their assets are safe with bank-grade encryption.
Hardware wallets are the safest option. These tools look like USB flash drives. To use the wallet, one has to connect it to the PC and enter the password. All transactions are stored exactly on the flash drive, and it’s impossible to access private data.
Trezor wallet is a hardware wallet that provides enhanced security for handling the secret keys of Bitcoin and other frequently-used cryptocurrencies.
Ledger Nano S wallet supports a large list of currencies, including BTC, ETH, BCC, and LTC. Furthermore, this multi-currency wallet has several levels of protection.
This wallet is a paper with a QR code that can be scanned to access the user’s profile. The most popular of them are BitAddress and Bitcoin Paper Wallet, and their main benefit is that their private keys are stored offline. It makes them unavailable for hackers. Yet, such wallets are easy to lose.
Which Wallet Is Better To Use
An offline multi-currency wallet is the most reliable option. Users can download a local wallet on their PCs that aren’t connected to the internet. Yet, this alternative is not so useful if you need to send coins quickly.
The coin you should choose depends on your preferences and goals, then you can choose the best multi cryptocurrency wallet 2021. Thin local or Internet wallets are useful for small sums, and thick or hardware wallets are more convenient for long-term storage of large amounts. Regardless of your choice, you need to follow all safety measures to protect your digital assets.