When trading cryptocurrency, you must use a wallet with the best security and transparency in transactions. Today, many wallets do not allow access to the keys, which can be a big no-no in the community. Also, many wallets do not have the feature of supporting multiple currencies stored on the network. As is commonly said in the cryptocurrency platform, if it isn’t your key, they are not your coins. But on the flip side, it also assures that new investors need not be too wary of the uncertainties and risks and can trade in peace. So, it all depends on you as an investor the risk you are willing to undertake.
But as much as all these factors are essential, it is vital to have a wallet that allows storage of multiple cryptocurrencies. Otherwise, it becomes more hectic to manage and keep track of all the coins. Keep reading to know about the best multi-currency wallet of 2021.
It is one of the most affordable crypto exchange platforms and is also very easy to access. The ease of accessibility on the platform allows it to be used by newbies for cryptocurrency investments. It also can be connected with Trevor, so it has the best of both worlds. You get the accessibility of a desktop wallet and cold storage. The platform is downloadable on mobile phones, and you just need to create a seed key for it. Remember the seed key since it will contain all your private keys. Rest, you are good to go as Exodus supports more than 100 cryptocurrencies. The drawback, though, is it is not built on open-source software.
Trezor is one of the oldest multi-currency wallets. One of the most initial physical wallets for crypto storage was made by Trezor, so it has garnered a good market reputation. Besides being reliable, it also provides a lot of security. The platform creates a unique 24 letter seed key for the user, secure the keys even if the device is under attack. No one can know the keys since the platform generates them in a completely isolated environment. So, this can be a good choice for ones who are mindful of security and wants to protect their coins. But a significant drawback is it cannot be used for some important cryptocurrencies which have emerged recently, like Ripple (XRP).
This platform is one of the latest storage wallets and one of the few that allows the storage of almost 1500 cryptocurrencies. It also allows instant exchange of cryptocurrencies. The multi-currency storage wallet generates a 24-keyword seed, a set of random numbers and letters generated that act as a master password. It makes the platform more secure. You should store this safely and never use it in anything related to the internet. Owing to its extensive use and the extra security features, it is preferred by many.
- Ledger Nano X:
Ledger Nano X is a hardware wallet and can cost beyond $100. But it is also considered one of the safest since it is physical and needs to be connected to a device with the internet to carry out transactions. The device has an O-LED monitor, which allows the tracking of different applications, a bonus. But recently, hackers came out with a hack for the device, which compromised the private information of many users. However, no keys were displayed. So, investors must be mindful of this factor in deciding to use this wallet. The wallet can store Bitcoin, Ethereum, and 30 different coins.
If you are still thinking about how to choose the best bitcoin or crypto wallet, make sure it checks off the list you may be looking for. Like whether you want one which allows you to store numerous currencies, or is inexpensive, better yet free, or something very secure. Ultimately, it depends on you to choose a wallet that is best suited for your needs.