A cryptocurrency wallet is similar to your bank account. This is the place where all your investments are stored, transactions are done like sending and receiving the digital currency. So, for investing or trading with cryptocurrency, you will have to choose the right wallet. Unless and until you have decided to not invest in any other cryptocurrencies, you will need a multi-currency wallet. But while choosing a multi-currency wallet, you need to be very careful as they are not registered according to the law. If you pick the wrong wallet, then you will end up in losses.
For all those who are not having any idea of a multi-currency wallet and want to get one, here are the five best picks for you. Also, read this passage talking about if cryptocurrencies have to be taxed.
Ledger Nano S:
This is a very simple multi-currency wallet for anyone who just started with multi-currency trading. It looks like a small USB device or a flash drive. You will be able to store Ethereum, Bitcoin, Ethereum tokens, and also more than 30 different currencies. The working of this hardware currency wallet is similar to the USB device, where you will have to connect it to the device where you do the transaction for it to authenticate or confirm the transactions. It is a cheaper device and can work on multiple apps. It is an unhackable device and is one of the best options for you.
Here is another multi-currency wallet from the same manufacturer of Ledger Nano S. If you look at the other available options in the present market, then this is going to be the most advanced option for you. There are many interesting features of this device like Bluetooth, a rechargeable battery, and also a very good touchscreen. It is a very lightweight device and that makes it easy for you to transfer from one place to another. It can be used with multiple currencies and multiple apps at the same time. The only thing that may worry you is its price. Yes, it is a bit expensive device.
Another hardware crypto wallet that you can check is Trezor. This is also like a USB device and is always protected with a PIN. In case, you lose it or it is stolen, you will be able to recover it. It has the Zero Trust Approach, which makes it does not compromise at all. This was initially designed for Bitcoin, but it also supports 14 other cryptocurrencies. It is hard to crack or hack this device as it has a very difficult PIN to hack. When you don’t connect the device to the system, then it turns off automatically and that is a good feature.
Coinomi is another good multi-currency wallet and is also the oldest option. There are more than 2.5 million people who are already using it and trust its security levels. It is one of those first wallets that got very popular in just no time. It supports more than 14 different cryptocurrencies along with Bitcoin. You will be able to enjoy a huge number of services with the help of this multi-currency wallet.
The next option that you can consider is Enjin Wallet. It is a mobile-based wallet that supports multiple currencies. But for those who are looking for a lot of currencies, then this may not be the right choice as it supports only seven different coins along with Ethereum based coins. The navigation in this wallet is very simple and easy to use for even a first-time user. It has a very good customer support team that can help you in resolving all kinds of problems that you are facing while using this wallet.
Earlier, there were only a few crypto coins and the wallets also supported only a few coins. Finding a multi-currency wallet was tough and the performance was also poor. But now there are several options available for you and so you need to make the right choice. The above-mentioned five multi-currency wallets are some of the best options you have, but you can also pick from the other options you have. Always pick the one that comes with high security and impossible to hack kind of features. Get the best wallet and start investing today!!!