A multicurrency crypto wallet is a specific type of software of a device that is designed for storing or transferring of various cryptographic currencies. If you are a fledgling crypto investor or a trader who wants to make profit by using this category of money, then multicurrency wallet should become an integral part of your day-to-day operations. These wallets will allow holding (or HODL, as the members of crypto community say), transfer, and exchange tokens and cryptocurrencies as well as review your transaction history.
Currently, there are so many multicurrency wallets that it can be hard even for an experienced user to give preference to a particular brand of software for storing crypto assets. In this article, we will tell you about the most well-received cryptocurrency wallets and highlight their benefits and drawbacks.
Coinomi’s popularity can be explained by the fact that this multicurrency wallet allows storing more than 80 different popular coins as well as many promising tokens. Moreover, it features two in-built cryptocurrency converters, namely Changelly and ShapeShift, providing an opportunity to exchange cryptocurrencies not on an exchange but within the wallet.
As for the transaction fees, they are flexible, making it possible to choose more favorable options when transferring funds. Coinomi’s interface is rather simple and straightforward and supports English, Chinese, and Russian languages.
However, this wallet has certain drawbacks: users sometimes complain about the sudden loss of funds from their accounts, and the responsiveness of tech support leaves much to be desired.
- Supports probably the largest number of cryptocurrencies;
- Takes up very little memory space and doesn’t consume a lot of system resources;
- Has a comprehensible interface.
- Coinomi can be used only on the mobile phone, desktop and browser versions are unavailable;
- The security system is far from being perfect.
Exodus is a fail-safe multicurrency crypto wallet with an excellent interface. It is available only in the desktop version, making it less mobile but far more secure than the previous wallet. The private keys, which are the backbone of security system which user’s; assets from being stolen or otherwise manipulated by fraudsters, are always stored only on user’s device, and they could also be encrypted.
This multicurrency wallet stores only 10 types of cryptocurrencies which are compatible with ShapeShift; therefore, one can easily make conversions within the wallet. Users also praise the expeditiousness and competence of technical support.
- Above-average level of protection, the availability of 2-factor authentication;
- Compatibility with cold-storage wallets;
- Availability of in-build exchanger.
- Exodus is represented only in the desktop version;
- Supports a rather small number of cryptocurrencies.
MyEtherWallet is undoubtedly the best multi-currency wallet for storing tokens which are compliant with the ERC-20 standard (developed on the basis of Ethereum’s smart contracts). This includes almost all coins issued over the last few years through ICOs. MyEtherWallet is a browserbased wallet which means that there is no need to download any additional software or clients; creating a personal account on the Ethereum official website will suffice. However, the most distinctive feature of MyEtherWallet is that all users have the means for issuing their own ERC-20 compliant tokens by the virtue of this multicurrency wallet.
- No need to download any software or clients, thus it doesn't influence the system's computation capabilities;
- Allows storing a great variety of coins;
- The possibility of issuing personal coins.
- A popular target for cybercriminals.
Jaxx is not only a multicurrency but also a multi-platform digital wallet that can be downloaded onto a mobile phone as well as desctop computer (it is compatible with Android, iOS, Mac, Windows, Linux). It supports around 30 cryptocurrencies and allows users to perform the transaction of funds in just a couple of clicks. Jaxx also has an in-built exchanger called ShapeShift which provides means for instant exchange of available currencies at a very favorable rate.
Jaxx also implements additional security measure as users can opt for the so-called Masterseed phrase which allows them to restore/block the compromised accounts.
- User-friendly with a simple interface;
- Provides means for storing many types of cryptocurrency;
- Available on all major operating systems.
- High transaction fees.