The Multi Cryptocurrency Wallet support multiple cryptocurrencies, in other words, you can store more than one cryptocurrency on a Multi Cryptocurrency Wallet. And you can manage all your digital currencies like Bitcoin, Litecoin, Ripple, etc, on a single platform or a single Wallet.
In this modern era, cryptocurrency is popping up more and more and it’s skyrocket price attracting the whole world. Today, millions of people using cryptocurrency instead of traditional currency.
But trading in digital currency, you’ll need some essential things. A digital wallet or cryptocurrency wallet is one of the important things. It is necessary to find the best wallet that addresses your greatest concern like security from theft, ease of transfer, convenience, monetary cost. And also even styles because a wallet plays a vital role in your greatest investment decision.
There is no need to worry! Here, we’re providing you a straightforward guide to understand the cryptocurrency wallet and also we’ll explain to you some best cryptocurrency wallets.
So, let’s get started with what is Multi Cryptocurrency Wallet and how does it work?
What is Multi Cryptocurrency Wallet?
A multi-cryptocurrency wallet is a piece of software or hardware that offers a crypto address to store your different cryptocurrency. It stores private and public keys and interacts with various blockchain to allow users to send and receive digital currency.
However, you can use your cryptocurrency wallet for shopping and other purposes like a bank account. You’ll always need a crypto wallet to use any cryptocurrency. Let’s see how it works!
Types of Multi Cryptocurrency Wallets:
There are several types of cryptocurrency wallet with different features. These crypto wallets can be classified into three distinct categories- software, hardware, and paper.
- Software: These cryptocurrency wallets can be download and install on a PC or laptop or smartphone. Cryptocurrency wallet apps are more useful because they can be used anywhere and these wallet apps are simple to use. Software wallets offer high-level security. However, if your device is hacked, or gets a virus there is a possibility to lose your all funds.
- Hardware: Hardware wallets are used to store a user’s private key on hardware devices like a USB. These hardware wallets can be compatible with several web interfaces. You can use plugins to enable more functionality and send or receive currency easily.
- Paper: Paper wallet refers to a physical copy of your public and private keys. The paper wallet address is used for transferring Bitcoin or other cryptocurrencies.you just need to transfer funds from your paper wallet to the software wallet. this process is called sweeping and you can enter your private keys manually or by scanning QR code.
How does Multi Cryptocurrency wallet work?
Cryptocurrency wallet does not store any physical currency, unlike traditional pocket wallet. Your transactions are stored on the blockchain. Cryptocurrency wallets allow you to send and receive crypto coins through your private key(secure digital code known only to you) and public key(public digital code connected to a certain amount of currency).
When a cryptocurrency sends it to you, it needs to unlock the fund to spend these coins. To unlock the fund, your private key(stored in your wallet) must match with the assigned public address of that currency. If your private key match with the public key, the balance in your wallet increase instantly.
Best Multi Cryptocurrency Wallet
Due to increase different crypto coins in the market. You need a wallet to store them. But one dought comes everyone’s mind is, which crypto wallet is best? There are dozens of multi-cryptocurrency wallet options available but we’re explaining some best multi-cryptocurrency wallet those use by most persons and investors.
|S. No.||Wallets List||Type|
|1.||Jaxx Wallet||Software Wallet|
|2.||Ledger Nano S||Hardware Wallet|
|4.||Ledger Blue||Hardware Wallet|
|6.||Atomic Wallet||Software Wallet|
|7.||Edge Wallet||Software Wallet|
Jaxx Wallet: (Software Wallet)
Jaxx wallet is a mobile-based cryptocurrency wallet but it can work on Windows and other operating systems. It stores not only cryptocurrencies but also all digital assets. Jaxx wallet can be work for multiple digital assets at a time without any limit set by the user.
However, Jaxx is more popular in multi-cryptocurrency wallets because it is more secure from hackers and offers many features like- full control, easy to use, exclusive design, supports many operating systems.
Ledger Nano S: (Hardware Wallet)
It is a USB sized hardware wallet which is specially designed for the cryptocurrencies. Hardware wallets are expensive but they offer a lot of features such as backup and security.
Ledger Nano S comes with a small LCD screen in front of the wallet that means you don’t need to have a computer device to use this wallet. You can easily operate your cryptocurrency wallet using this screen. Ledger Nano S offers multiple features like- Built-in display, easy to operate, multi-currency support, high security, backup, and restoration.
Exodus: (Online Wallet)
Exodus is an online wallet which comes with impressive graphics features, reporting system, and easy to use features. it also provides the screenshot of wallet account for those users who want to see how does their cryptocurrency account looks like.
Apart from the designing feature, the Exodus wallet serves all the advanced features which you expect to have in any advanced level web-based online wallet such as- one-click exchange, multi-currencies, and complete security.
Ledger Blue: (Hardware Wallet)
Ledger Blue is another hardware wallet by the Ledger Nano S company. It is bigger than ledger Nano S and offers advanced specifications such as a touchscreen, Bluetooth, and USB connectivity.
It offers an onboarding option to control the wallet and a setting option to set your wallet according to your requirements. The features of ledge blue are:- secure elements, malware proof, pin code, multiple currencies.
CoinPayments: (Online Wallet)
Coinpayments become popular when they allow more than 1050 cryptocurrencies to store in their online wallet account. It charges no registration fee. Its visibility feature makes it differ from others. This means your cryptocurrency will be acceptable on hundreds of online stores.
These are some important features of Coinpayments:– BitGo integrated, mobile app, vault, multi-coin wallet, and acceptability.
Atomic Wallet: (Software Wallet)
The atomic wallet supports 300+ top cryptocurrencies with a user-friendly interface. It updates the list of available assets every week, so if you didn’t find your favorite cryptocurrency, you can be sure it’ll be adding soon. It is available for all major operating systems: Windows, OSX, and Linux.
The Atomic wallet has offers a lot more features such as decentralized storage for private keys, a built-in option to buy cryptocurrency with a bank account, atomic swaps, and instant exchange feature.
Edge Wallet: (Software Wallet)
Edge wallet is the latest cryptocurrency software wallet which is exclusively launching for Bitcoin in 2014. But due to some security issues the company had rebranded it and now it came with the latest technologies that have made it feature-rich cryptocurrency wallet. With Edge wallet, users can easily store, buy, and sell cryptocurrencies. It has a wide range of features such as multi-currency support, user-friendly, and security.
MyEtherWallet: (Paper Wallet)
MyEtherWallet is the most popular paper wallet. With MyEtherWallet, you can create own private wallet without forking out cash for a hardware wallet. You just need to create a wallet online at myetherwallet.com and note down your private keys.
However, using the paper wallet is quite difficult and time taking. So, for novices, we’re not recommending to use a paper wallet.
**Note: Information contained in this guide is not an offer or solicitation to buy, hold, or sell any security. We’re not financial advisors and are simply providing information for educational purposes. Initial coin offering (ICO) involves a high degree of risk. And only consider by persons, who can afford to sustain a loss of their entire investment.
Investors should consult their financial advisor before investing in cryptocurrency. Furthermore, the SEC has warned investors residing in the United States. And other jurisdictions that ICOs may constitute securities.
Hope! This guide will help you to find out the best multi-cryptocurrency wallet. And we have explained the working process of the cryptocurrency wallet.
If you have any queries, feel free to tell us in the comment section. We are happy to help you.