Best Multi-Cryptocurrency Wallet 2022

 What Is a Cryptocurrency Wallet?  

Crypto wallets are a type of digital wallet that enables users to store, transfer, and monitor their crypto holdings. At this point, you’ve probably gathered that crypto wallets don’t store coins in a tangible form. Instead, they keep your private keys and the full history of your previous transactions. 

Private keys are very similar to what we use as a password for every account-based website (e.g. Facebook or Gmail). In the case of crypto wallets, they are a randomly generated group of characters that serve as proof of ownership over your wallet. If for some reason, you lose access to your private keys, you won’t be able to manage your crypto assets regardless of the type of wallet.

With the dramatic expansion of Bitcoin and other altcoins, you can find an endless spectrum of crypto wallets available on the market today. However, despite the drastic difference in multiple correlated traits, crypto wallets fall into three general categories:

• Online or web Bitcoin wallets (hot wallets)
• Software Bitcoin wallets or wallet apps (hot wallets)
• Hardware Bitcoin wallets (cold wallets)

Online Wallets

Online or web wallets don’t actually differ from other digital platforms we use for day-to-day purposes. They’re free and require a setup that takes mere minutes. 

Their key advantage is accessibility as you can open them through any web browser, or device. Web wallets usually provide a convenient environment for the management of your funds and an intuitive design that allows you to navigate through the wallet platform with ease. 

However, the very fact that your information is kept on the provider’s server makes web wallets a risky storage solution in regard to security. No matter how robust their security system is, online space is highly prone to viruses and cyber-attacks. Thus, we suggest you avoid storing huge amounts of digital currencies in a web wallet. 

Popular web wallets: Guarda and in-exchange wallets on Kraken, Gemini, and Coinbase.

Software Wallets

Software wallets do belong to hot storage as well since they require an internet connection. However, to set up such a wallet, you’ll need to download an app either on your phone or desktop. Accordingly, your private keys will be stored on the device, which makes software wallet apps a bit safer than web wallets and more advanced in terms of layout and functionalities.

However, we don’t recommend you rely on software wallets in the long run either. Mobile and desktop devices are also vulnerable to malware and viruses. 

While desktop wallets are most often used by professional traders because they feature more insightful layouts and many sophisticated facilities, mobile wallets will be a perfect fit for those who use crypto to make direct settlements to retailers that accept crypto payments. 

Popular software wallets: Trust Wallet, Coinomi, Exodus, Coinbase, and Mycelium

Hardware Wallets

Hardware wallets are the most secure way to store crypto outside the internet space. They’re devices that resemble memory hard drives and come with their own basic software. 

To activate a hardware wallet, you’ll have to plug it into your computer or mobile phone or connect it through Bluetooth (only if the wallet model supports such a contactless connection). Some hardware wallets contain more sophisticated touch screens, while others can be paired with software wallets, which perfectly combines security and ease of use. 

Regardless of the connection gate, you won’t have any concerns about the safety of your private keys as they’ll stay intact in the hardware device. 

The only drawback is that hardware wallets aren’t free—depending on the brand, a hardware wallet will cost between $50 and $200.

Popular hardware wallets: Ledger Nano X, Trezor Model T, and Keepkey

 5 Best Multi-Cryptocurrency Wallets 

A multi-cryptocurrency wallet will enable you to store all your virtual assets under one roof. This will simplify transfers and the management of your diversified portfolio. 

Each multi-currency wallet delivers its own set of benefits, so let’s go through the best-ranked ones on our list of favourites. 

Ledger Nano X — Hardware Wallet

Regarding security, hardware wallets are always better than hot wallets. The best hardware wallet where you can store multiple types of altcoins offline is Ledger Nano X.

Ledger Nano X was released in 2019 and revolutionized the industry with its cutting-edge set of features. 

As a firmly established manufacturer in the crypto industry, the Ledger SAS company combined the robust security of the wallet device with an engaging software app—Ledger Live. 

Ledger Nano X isn’t a custodial wallet, which means that you’ll have full control of your private keys through one seed phrase. It supports over 1000 cryptocurrencies, and you’ll be able to store up to 100 at a time on a single device, which is far more than Ledger’s direct competitors. 

The wallet features Bluetooth, allowing you a wireless connection to your mobile device so that you can handle your coins on the go and rely on a battery that lasts a few hours.

Trust Wallet

Trust Wallet is a mobile wallet app originally developed by Viktor Radchenko and acquired by Binance in 2018. At this point, Trust Wallet is an official Binance Wallet for the purpose of accessing the Binance Chain and Binance Smart Chain—a parallel Binance chain that enables smart contracts.

Apart from its inherent connection with Binance Coin, Trust Wallet claims to support approximately 50 blockchains and over 1 million assets. This endless array includes the charts-dominant coins such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Litecoin (LTC), Polkadot (DOT), Dash (DASH), TRON (TRX), Stellar (XLM), and BCH Bitcoin Cash (BCH), as well as all newly-discovered blockchain product. 

Despite being a hot wallet, Trust Wallet stores the majority of funds in cold storage servers. Furthermore, it supports Google Authentication, 2-Factor Authentication (2FA), and email or SMS verifications. In this sense, it’s the safest form of a mobile wallet you can find on the market.

Finally, Trust Wallet has incorporated two in-app transaction providers—Simplex and MoonPay—for direct crypto purchases.

The only drawback with the Trust Wallet app is the lack of a desktop version. Old school traders who rely on built-in market indicators find the compact version really inconvenient. 

Coinomi

Coinomi is a mobile-first crypto wallet with a newly released desktop version available for Windows, Linux, and Mac operating systems. Established back in 2014, it’s one of the first digital wallets with a clear strategy towards expanding the number of supported cryptocurrencies. 

Today, Coinomi opens room for over 500 different blockchains, which is perhaps a record-breaking number among non-custodial wallets. This includes all relevant altcoins, stablecoins, DeFi tokens, forks, and test coins, with a total of over 1,300 different blockchain-based coins. The wallet is segwit-enabled and features an intuitive platform that’s available in 25 languages.

Mobile apps are an inherently insecure environment for storing valuable assets. However, it seems that Coinomi spares no effort to provide robust user protection, as the wallet has a flawless history of zero security breaches or hacker attacks. Apart from the strong encryption, Coinomi operates as an HD wallet that enables you to generate a new address for each transaction. 

However, Coinomi is most appreciated for its in-app exchange facility, which—in partnership with Changelly and ShapeShift—gives users the chance for direct swaps of cryptocurrencies and fiat-to-crypto purchases with over 100 different fiat currencies. 

Exodus Wallet

Exodus is a well-established brand in the cryptocurrency storage industry. It dates back to 2015, and it’s classified as a custodial, desktop HD wallet supported by a new mobile app, available for free on both the App Store and Play Store. 

The wallet was developed by JP Richardson and Daniel Castagnoli, whose aim was to present a crypto wallet with ultra-intuitive UX/UI design that doesn’t compromise on security standards. For ultimate protection, you can pair the Exodus software with the Trezor hardware wallet. 

The Exodus wallet supports a selection of over 140 cryptocurrencies, and this list is continuously growing in line with the market demand. 

The functionality of Exodus goes beyond storing coins. You can earn interest from the digital assets stored in your wallet and swap coins through its built-in exchange as smoothly as on a centralized crypto exchange but without the presence of third-party custody. 

The Exodus wallet doesn’t incur any additional fees except the regular miner/transaction fee set by the respective blockchain and not the wallet platform. 

Finally, Exodus is one of the few user-centred crypto wallet systems. You can expect 24/7 human customer support, an extensive knowledge base, and decent charting for regular updates.

Coinbase Wallet

The Coinbase brand is most associated with crypto brokerage services, and it’s recognized as the most user-friendly platform for buying and selling crypto. The company has also launched a  wallet app available for iOS and Android users that’s different from the built-in wallet that comes with your Coinbase account. The main difference is that the separate mobile wallet offers non-custodial storage, while the in-exchange wallet will take control of your private keys. 

Despite the autonomous performance, the Coinbase wallet provides seamless integration with both the Coinbase exchange and the Coinbase Pro platform.  

The Coinbase wallet has inherited the intuitive user interface from the exchange as well as the status of a highly-secured, FinCEN-registered company. The wallet app was originally tailored to house Ethereum and ERC20 tokens, but today, it has expanded its scope of supported cryptocurrencies to nearly 100 different coins including Bitcoin. It also supports direct trading on the leading decentralized cryptocurrency exchanges and allows access to Ethereum-based Decentralised Applications (DApps).

This wallet comes with a set of advantages that can’t be found on other multi-cryptocurrency wallets such as ICOs, airdrops, and access to online retailers that accept cryptocurrency payments.

 A Few Words Before You Go… 

Crypto wallets are an integral part of the fast-evolving crypto industry, so it’s practically impossible to discuss their functionality in terms of the coins they support. Blockchain technology has become so diverse that no expert will be able to single out the best crypto wallet without knowing what you need it for. 

Thus, once you make sure that the respective wallet does support the cryptocurrency on your wish list, consider what fits your personal needs as a potential user best. If you plan to make a one-off but large-scale Bitcoin investment, you’ll definitely need to focus your attention on a wallet that guarantees impeccable security. 

Everyone should prioritize high security, but if you’re a day trader, you’ll also need a wallet that is easily accessible. Novices should put smooth navigation first, whilst seasoned traders will value if the wallet features a built-in facility for direct input and output transactions. Ultimately, our list is there to give you some ideas, and we hope it accomplished that.