Cryptocurrency wallets are vital for, well, holding cryptocurrency. In fact, if you’re looking to get involved in the cryptocurrency space, you don’t really have a choice without using a wallet.
However, some starter cryptocurrency wallets only focus on one asset, which is ideal for holders, but not for those looking to diversify. Fortunately, if you’re one of those traders, this guide is here to help.
In this guide, we’re going to discuss the best multi cryptocurrency wallet on the market. Hopefully, after reading, you can decide on what really benefits your crypto investment personality.
That said, let’s answer some common questions about cryptocurrency wallets before getting into the nitty-gritty.
This Guide Contains:
- Can One Wallet Hold Multiple Cryptocurrency?
- Do I Need a Different Wallet for Each Cryptocurrency?
- What is the Best Cryptocurrency Wallet App?
- Best Multi Coin Wallet Deciding Factors
- Types of Multi Crypto Wallet
- The Best Multi Cryptocurrency Wallet You can Get
Can One Wallet Hold Multiple Cryptocurrency?
Most cryptocurrency wallets can, yes! In fact, the best multi-crypto wallets can hold hundreds if not thousands of assets, should you wish to diversify that much. There are some specialized wallets that hold their respective cryptocurrency, but we won’t be covering those here.
This also goes for hardware wallets. If you’ve been wondering “Can Ledger Nano S hold multiple currencies,” the answer is yes, it can.
Do I Need a Different Wallet for Each Cryptocurrency?
Not at all! Acquiring a multi-coin wallet means you can store various types of cryptocurrency in the same space. This makes it much easier to trade and manage your assets.
What is the Best Cryptocurrency Wallet App?
The best cryptocurrency wallet app depends entirely on your trading wants and needs. Fortunately, this guide will break down all of the best ones so you can make that decision today.
Best Multi Coin Wallet Deciding Factors
Now, we need to discuss our best wallet decision making criteria. Here are the following factors considered when choosing the best multi crypto wallet.
a. Encryption & Security
The best multi cryptocurrency wallets have the best encryption and security features, no doubt.
When examining wallets for this list, we consider their offerings of two-factor authentication (2FA), how they manage your public and private keys, and what level of encryption offered.
Security levels also depend on the type of wallet, of course, which we’ll get into later on.
b. Ease of Use
A streamlined user interface is a tall ask, and can make the difference between a great or a terrible wallet experience. We searched far and wide to find wallets that have an easy-on-the-eyes interface, and that aren’t a big pain to use.
This includes the trading, holding, and staking experiences. We also consider the platforms each wallet is available on in this category.
c. Feature Set
Good wallets are made or broken by their featureset. We’re looking for more than the basic holding services offered by most wallets. You’ll want a wallet with a built-in exchange, staking options, trading rewards, and so much more.
If you’re having an issue with your cryptocurrency wallet, you’ll want a good support team to help you out. This is an often overlooked factor in deciding a wallet, but we made sure to cover support in our guide.
Nobody wants an outdated wallet. You need a wallet that’s constantly up to date, protecting your assets from the latest threats and attacks. We’ve chosen wallets with active development teams, as well as a bustling community surrounding them.
Types of Multi Crypto Wallet
Believe it or not, there are various types of multi cryptocurrency wallets. We’ll break down a few right now.
Web wallets are the most popular type of wallet, though they’re nowhere near the most secure. These wallets are connected to the internet, which is great at times, as it makes them accessible at all times. However, that accessibility has a downside as well.
Being constantly connected to the internet leaves your assets at constant risk from bad actors and hackers.
b. Mobile Wallets
Mobile wallets are designed to streamline the crypto trading and usage process, as logging in and making a trade is simple on your smartphone. It’s all protected by a PIN and recovery phrase.
Desktop wallets live on your computer’s hard drive. They’re only connected to the internet when opened, making them a safer than average choice for storage.
d. Hardware Wallet
Hardware wallets are arguably the safest way to store and use your crypto assets. These are USB-powered devices that you connect to a computer or mobile device to power. Protected by a PIN number when connected, these wallets are only accessible by hand.
When disconnected, there’s no way for a hacker to break into your wallet. Even then, hardware wallets come with small LCD screens to input your PIN, preventing anyone from looking over your shoulder to see it.
e. Paper Wallet
Finally, we have paper wallets. These are quite literally a sheet of paper you store somewhere secure, and scan with your phone to access the assets.
The Best Multi Cryptocurrency Wallet You can Get
Now that you’re aware of the different wallet types, here is a list of the best multi crypto wallets on the market.
1. Exodus (Desktop and Mobile)
Exodus is a free desktop wallet with a gorgeous, easy-to-use interface. In fact, the colorful UI is incredibly appealing to many newer traders, making it an ideal wallet for starting out.
On top of this, Exodus features an in-wallet exchange for easily converting one asset type to another, eliminating the need for an exchange like Coinbase. This is in lieu of other, optional applications like crypto rewards via staking cryptos like Tezos, Cosmos, and on the Compound Finance platform.
2. Ledger Nano S (Hardware)
One of the industries’ most popular hardware wallets, the Ledger Nano S supports a vast array of cryptocurrency assets – over 1,500 digital assets.
What makes Ledger different than other wallets is its hardware design. The wallet is essentially a USB stick, meaning it’s entirely offline when not plugged in and in use. It stores your private key on a secure chip within the device, protecting it from bad actors and hackers.
This wallet sports an on-device LCD screen with two buttons for easy use. Such a small screen prevents others from looking over your shoulder, for instance.
For added security measures, logging into the Ledger Nano S requires a custom PIN, though the entry method is randomized each time. All you need is a computer or smartphone that can support the device, and you’re able to start.
3. Atomic Wallet (Desktop and Mobile)
Similar to the Exodus desktop and mobile wallet, Atomic Wallet enables you to hold, exchange, and stake your cryptocurrency assets all in one place. It also has a streamlined, eye-popping user interface to make for an appealing trading experience.
Atomic Wallet supports over 500 cryptocurrencies and provides around 60 trading pairs to enhance your experience. Also, the platform supports Windows, MacOS, Ubuntu, and even some obscure operating systems like Fedora and Debian, as well as iOS and Google Play. This versatility means Atomic Wallet applies to more than the average user.
If you’re new to Atomic Wallet, the service provides you with 15 Atomic Wallet Token (AWC), its native asset. Like Binance’s Binance Coin (BNB), the AWC enables discounts and extra features while trading, among other bonuses.
Finally, if you run into any issues with Atomic Wallet, the platform features a 24/7, in-depth support team that can assist you.
4. Binance Wallet (Exchange, Web, and Mobile Wallet)
Housed on the Binance cryptocurrency exchange, the Binance wallet is a prime multi crypto wallet for various reasons.
To start, Binance supports hundreds of assets, making it one of the most versatile wallets out there. The platform has its own BNB token to help pay for trading fees and provide other benefits as well, essentially rewards its users for trading on the platform.
You can stake assets like QTUM, ALGO, and EOS quite easily on the platform, among others. Otherwise trading with various trading pairs or simply buying assets via a market or limit buy.
According to cybersecurity platform Certified, Binance has one of the highest security ratings of all cryptocurrency exchanges out there, making it a reasonably safe place to trade. That said, it does require you to verify your identity for some trading and withdrawal features. This lack of anonymity is a turn off for some traders.
5. Coinomi (Mobile and Desktop)
Boasting support for over 1,770 crypto assets, this multi crypto wallet allows you to hold more cryptocurrencies than most.
The wallet is used by millions of users, and has been around since 2014. That longevity makes the wallet a mainstay within the industry, and has never suffered a hack or another attack at that.
Coinomi offers a dApp browser to easily use your stored assets, automatically linking your cryptocurrency wallet with online services. Plus, the wallet doesn’t charge any additional transaction fees when exchanges currencies on its in-wallet service – you only pay mining fees.
Of course, there’s a staking service which is becoming standard nowadays, as well as support for an infinite number of wallets thanks to multi-seed technology.
Notably, there’s no need to reveal your identity to utilize Coinomi. The software has no form of KYC, and doesn’t even reveal your IP address to snooping eyes.
6. Trezor (Hardware)
There are two Trezor models, both of which have a small LCD screen to prevent any snooping behind your back.
Once you plug Trezor into your computer, you can view any and all transactions made, commit new transactions, and even exchange assets within the software.
As for security, the Trezor hardware wallet has a fantastic recovery seed service, preventing loss of assets should your wallet get stolen or destroyed. Also, the wallet cannot do anything with your private or public keys until you enter your PIN number. For additional issues, Trezor hosts a rewards program, awarding users who report the most significant issues.
Just like with the Ledger Nano S, you do have to purchase a Trezor. But again, if you’re invested in your asset’s security, spending some extra money for protection shouldn’t be an issue.
These are the best multi crypto wallets you can acquire. As you can see, there’s a varied list of wallets here so you can choose the one that best fits your investment personality. We’ve covered web, desktop, hardware, and more, as giving you options is the best way to make the ideal choice.
Hopefully, you’ve learned what you need to know about multi-crypto wallets thanks to this guide. Good luck trading out there!