The ultimate guide to the multi-currency crypto wallets.
The Multi-Currency Crypto Wallets gain their popularity on the market due to their convenience. Guarda made a review of the most popular application and devices in search of the best multi-currency wallet.
What is a cryptocurrency wallet?
Digital currencies, unlike fiat money, have no physical form and therefore require a special kind of wallets. Digital money exists only as an entry in the corresponding blockchain and in order to conduct a transaction with them you need the right kind of software. Crypto wallet is exaсtеly that. They use private and public keys to interact with the blockchain and to assign or reassign the ownership of the coins like that.
How is a multi-currency wallet different?
Only a few people are devoted to a single currency. The blockchain world becomes more and more diverse each day. Over time the inconvenience of having to deal with a number of private keys grows to the point when a person thinks of setting up a multi-currency wallet. What is a multiple currency wallet? Well, it is a wallet that is compatible with many blockchains. It makes it possible to access different currencies with only one set of private/public keys. The market is drowning with the supply of wallets of all types, so we have come up with this article to help you decide what is the best multi-currency wallet in 2019.
Trezor, the Best Hardware Cryptocurrency Wallet
The name speaks for itself with a hardware crypto wallet. As opposed to a software wallet it is not only a program that you download to your device or run online it is an actual device that provides cold storage for your funds. In this case, cold storage means that private keys are stored on a device without Internet access. The device itself is similar to a USB-drive and is compatible with all operating systems. It is the most secure way of keeping your finances. When you do need to make a transaction or check your account you simply have to connect your hardware wallet to your computer.
Trezor is a company that has an impeccable security record. It has several device options for you to choose from. Trezor supports 689 currencies and the list is constantly growing. The wallet application could be downloaded on Trezor’s website and provides another safety level for your funds.
If you want your wallet to be more accessible than a hardware wallet allows you want to consider an online wallet. It runs on a cloud and all you need to access your account is a device with the Internet connection and your private keys. However, you must be careful to choose the wallets that don’t store customers’ private information and passwords. It lessens their safety level and theft of your funds after a hacker attack becomes a real possibility.
One of the most trusted online wallets is Guarda. All the users’ information is stored on a user’s device so if the device is intact it is impossible to steal. Guarda supports over 300 currencies and is constantly working on extending the list.
The Best Mobile Multi-Currency Crypto Wallets
If you want to be even closer to your coins on an everyday basis you may try mobile wallets. Conducting transactions on the run, monitoring your account and even paying in a retail store down the street! Everything is easy and all you need is one app. The mobile multi-currency crypto wallet is a great invention but due to the lack of operating and memory capacity of mobile devices it lacks in many features and may only be an additional way for you to manage your coins. Besides Guarda Mobile Multiwallet that you have probably already heard of, there are several less technologically advanced wallets for the cryptocurrency multitaskers. For instance, Coinomi.
Coinomi is an excellent digital wallet to have on-the-go. It supports over 120 coins which is an impressive number for a mobile wallet, provides built-in exchange and there are no extra transaction fees to pay.