Welcome to my article about the 6 best cryptocurrency wallets you can use right now.
Cryptocurrency wallets are a must if you are serious about investing in cryptocurrencies.
This is because they are the gateway to your investment.
A cryptocurrency wallet is similar to a physical wallet in that it holds digital currency and allows you to make payments with them.
However, it is different in that it also holds the private keys that give you access to the coins in the wallet.
This guide will cover some of the best multi cryptocurrency wallets on the market today, and how they compare to each other.
The wallets listed below are all multi-coin wallets, meaning they can hold more than one coin at a time.
6 Best Multi Cryptocurrency Wallets You Can Use
In this section, I am going to cover 6 of the best multi cryptocurrency wallets that you can use today.
The factors that we determined these wallets are the best was due to the usability which coincides with the interface, security, the number of cryptocurrency coins they offer, and the countries that they are available in.
With that said, let’s get started with the 6 best multi cryptocurrency wallet breakdown.
1. Ledger Nano S
The Ledger Nano S is one of the most popular hardware wallets that is on the market today.
The Nano S is a small, affordable, and lightweight hardware wallet that stores your private keys on a secure chip.
You can use your Ledger Nano S with popular services such as MyEtherWallet, Ledger Wallet Bitcoin, Ledger Wallet Ethereum, USDC, USDT, and more.
The device is very affordable, and it connects to any computer or laptop that has a USB connection and embeds a secure OLED display to confirm each transaction that is made.
The Ledger Nano S is built upon an internal secure element, resistant to computer viruses and malware.
2. Trezor
The Trezor is another popular hardware wallet that is on the market today.
Like the Ledger Nano S, the Trezor is safe and secure, and is very easy to use. It connects to any computer or laptop that has a USB connection, and allows you to securely store your private keys for multiple cryptocurrencies.
The Trezor device comes in 5 different colors: white, blue, black, pink gold, or tan. It has an intuitive graphical interface that explains each transaction that you make in detail to ensure complete transparency.
3. Binance
Binance is a cryptocurrency exchange that allows users to not only buy and sell cryptocurrencies, but they also have a very secure online platform for holding your cryptocurrency.
The Binance platform supports Bitcoin, Ethereum, BNB, Tether, NEO, EOS, and more.
The platform boasts security and that it is one of the fastest exchanges in the world.
The exchange has an easy-to-use interface for buying and selling coins as well as using its secure wallet to store them long-term.
4. Kraken
Kraken is a cryptocurrency exchange that allows users to not only buy and sell cryptocurrencies, but they also have a very secure online platform for holding your cryptocurrencies.
The Kraken platform supports Bitcoin, Ethereum, BNB, Tether, NEO, EOS, and more.
The exchange has an easy-to-use interface for buying and selling coins as well as using its secure wallet to store them long-term.
The Kraken platform has excellent customer service and support options.
Users who have questions can contact the company via phone or live chat.
5. Coinbase
Coinbase is a popular cryptocurrency exchange that allows users to buy and sell cryptocurrencies.
However, Coinbase is more than just an exchange, as they also have a secure online platform for holding your cryptocurrencies.
The Coinbase platform also offers a smartphone app and supports Bitcoin, Ethereum, BNB, Tether, NEO, EOS, along with many more.
Coinbase has insured vault storage for crypto assets for its platform as well as an easy-to-use interface for buying and selling coins.
The platform has excellent customer service and support options.
Users who have questions can contact the company via phone or live chat.
6. Exodus
Exodus is a multi-cryptocurrency wallet that allows users to not only buy, sell, and store several cryptocurrencies, but also gives you complete control over your private keys.
The Exodus exchange has an easy-to-use interface for buying and selling coins as well as using its secure wallet to store them long-term.
Users can not only swap cryptocurrencies easily but they can also trade between digital assets on the exchange’s trading platform.
The platform also offers a phone app and supports Bitcoin, Ethereum, BNB, Tether, NEO, EOS, and more.
Exodus users can store their cryptocurrency in one single location with its secure offline storage or they can use the online storage for maximum security.
Another great article: Where And How To Buy Bitcoin In Canada? Including Resources and Links
Do I Need Multiple Cryptocurrency Wallets?
No, because most cryptocurrency wallets offer multiple cryptocurrencies.
However, there are some that offers a wider variety than others, so if there is a specific coin that you are interested in or will be interested in the future, I would look into the wallet before getting set up with them.
The above wallet options give you a great idea of what is on the market today.
You likely only need one crypto wallet, just because the majority of wallets offer multiple crypto options, but the choice is yours to have more.
What Are The Types Of Multi Cryptocurrency Wallets?
There are several types of wallets, here is a basic breakdown of them:
Hardware Wallets
A hardware cryptocurrency wallet is a physical device that stores your private keys. This type of wallet is very secure because you are holding your private keys.
The Ledger Nano S and Trezor are hard wallets that I covered above.
If you want to feel more secure and safe, this might be right for you since there is no way for someone else to hold your cryptocurrencies should they find your device.
This also means that if there were to be a cyberattack, the hackers could not access your cryptocurrency since it’s stored on a hardware device plugged into secure servers.
However, this approach involves using some technology in order to connect to the blockchain network (i.e., Internet).
Desktop Wallets
A desktop cryptocurrency wallet is a software program that allows you to store your private key on your computer or laptop.
This type of wallet is easy to use, and it’s generally safer since you’re holding the private keys.
However, if you forget your passwords or lose your computer or laptop, then there is no way to get back into the wallet without these elements.
This means that if someone were to steal a device it wouldn’t be safe for holding cryptocurrencies long-term either since anyone can access it.
This also means that if there were to be a cyberattack, the hackers could not access your cryptocurrency since it’s stored on a device plugged into secure servers.
Another great article: The Top 10 Biggest Bitcoin Transactions In History
Smartphone Wallets (Crypto app Wallets)
Another type of cryptocurrency wallet on some smartphones is called an “crypto app wallet”.
This web application allows you to store your private key on your phone and this type of wallet is very safe.
However, if you don’t have a secure password then any hacker could gain access to your private key and take all cryptocurrencies that are stored on the device.
There are more security features for “apps” than for “wallets” that come with it like a lock (password) or other components in order to ward off hackers.
These are also generally more expensive than traditional “wallets”, so if you only want to use them for small amounts then this might not be the best option either.
Paper Wallet
For those who want a really secure way to store their crypto, paper wallets are the best option.
Paper wallets are exactly what it sounds like- you print out your key on an address and put it in a safe place. The paper wallet is then kept physically in a safe place until you’re ready to transfer your cryptocurrency to an exchange.
You can also use this option as a way to “cold storage” your private keys without exposing them on the Internet and for those who are just nervous about storing cryptocurrency on their phone or computer.
Paper wallets are still vulnerable to viruses, so be careful about using one and if viruses infect your device you should delete all data that has anything to do with cryptocurrency.
Online Cryptocurrency Wallets
Online wallets are similar to desktop and mobile wallets, and if you have ever used a cryptocurrency exchange platform then you are probably familiar with this wallet type.
Online wallets don’t download the entire blockchain, so they don’t take much storage space.
Some of the 6 best multi-cryptocurrency wallets are online wallets and probably the most popular option for people.
This wallet is hosted by a third party – an online wallet site or company that provides the service for a small fee.
This is great because you can trade your coins anytime without buying a computer, but it also means that there is no way to hold and protect them yourself.
You should check if an online wallet has some form of insurance: if yes, there will be fewer chances of losing your funds if the company goes bankrupt or gets hacked.
Another great article: 10 Best Fiat To Crypto Exchanges In 2021: Pros and Cons
How To Choose The Best Cryptocurrency Wallet?
There is no one best and “perfect” wallet for cryptocurrency users.
It depends on your preferences, needs, and priorities when it comes to security, features, price, and availability.
The private key will always be the most important part of your cryptocurrency wallet.
It is what allows you to send coins from your wallet.
You can store this on a computer or phone, but if you don’t remember or lose the password then you won’t be able to recover any coins in that hardware device.
You can also use something very safe like a paper wallet or a hardware device such as a Trezor or Ledger Nano S (see above) to store it safely offline.
Next, you have to consider what cryptocurrencies you want to hold in this wallet.
You can use a multi cryptocurrency wallet like the wallets listed above so that you can have access to a variety of different currencies.
If your priority is security then I would advice using a hardware wallet.
If you are just getting started, a multi cryptocurrency wallet like Binance, Coinbase, or Kraken are good choices since they have great security and have never been hacked.
If you are storing a lot of coins, or an amount that you feel uncomftorable storing online, then I would highly suggest using a hardware wallet like Ledger Nano S or Trezor.
6 Best Multi Cryptocurrency Wallets You Can Use: Conclusion
As you can see, there are lots of different multi-cryptocurrency wallets on the market today.
These six are some of the best multi-cryptocurrency wallets on the market today.
You likely only need one wallet to start with unless your going with a hardware or paper wallet because you can store more than one currency in it.
The reason why I would suggest an additional wallete if you are using a hardware wallet is when you decide to withdraw to your bank accound and having a wallet like Binance or Coinbase makes it super simple.
It all depends on your preferences, needs, and priorities when it comes to security, features, price, and availability.
Usually, desktop and hardware wallets are more secure than online or mobile wallets. So if you want to feel more secure then I would recommend those options first if you’re just going to HODL or “hold” onto your coins for a period of time.
With that said, I hope you enjoyed my article about the 6 best multi cryptocurrency wallets you can use right now.
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