Cryptocurrency wallets for Ethereum are released as software for a computer or smartphone, as a browser extension, a web service, and small physical devices. A well-thought-out investment strategy always includes one or another way of diversifying assets. Cryptocurrencies are no exception, on the contrary, their behavior on the market more than clearly demonstrates the need for diversification.
By combining several different coins, it is possible to increase profits and, more importantly, reduce losses. Having a multi-currency vault, you do not need to convert 0.12 ETH to USD to take profits during periods of extreme volatility. Instead, you can do the same using its digital counterparts – stablecoins, such as USDT or BUSD
How to choose a crypto wallet
When choosing a multi-currency wallet, you should be guided by your own goals and objectives. Let’s take a quick look at the main selection criteria that will help you navigate.
- Your goals. If your plans include exclusively long-term investment of the “buy and hold” type, it is better to choose local storage or purchase a hardware device. It is better for a trader to choose a reliable hot wallet – mobile, web version or use the services of an exchange.
- Transaction speed. It is important for a trader to quickly respond to market behavior. An ideal solution for frequent and fast transactions is online storage on the exchange.
- Cryptocurrency. The multicurrency of storage is different. This category equally includes both storages that support only Ethereum and numerous ERC-20 tokens, and those in which coins of other BTС, XRP, Solana blockchains can be stored along with ETH. Just make sure the wallet you choose is suitable for all the assets you plan to store in it.
- Transaction control. It may be full or partial, jointly with a third party. Usually, novice users at first use wallets on third-party services. As experience is gained, many create wallets with full control.
- Developer. Crypto wallets are developed not only by programmers from the development team of Ethereum and other cryptocurrencies. This is also done by third-party companies, cryptocurrency exchanges and individual crypto enthusiasts. Of course, other things being equal, it is better to choose a product from a recognized manufacturer.
- The amount of coins. The larger the amount, the more secure the wallet should be. For small amounts of current expenses, hot wallets are suitable. Large amounts are best stored in cold storage.
- User verification. Remember that large crypto exchanges are required to verify their clients. To maintain anonymity, you need a repository that does not use KYC.
The best multi-currency crypto wallet
Trezor Model T
The Trezor Model T, a small hardware device, often tops lists of the best wallets. It is not perfect, but it is good enough in terms of basic parameters and supports over a thousand digital coins and tokens. In addition to the hardware wallet, Trezor has released a desktop app and a web version. Using the web version, users can buy and exchange digital assets. The device is equipped with a touch screen that displays information. Wireless connections are not supported, micro USB or secure QR codes are used for connection.
The combination of a user-friendly interface and high performance is only part of the advantages of Exodus. This multi-currency wallet exists in mobile and local versions. The keys are stored on the user’s device and, if necessary, they can be protected with additional encryption. Exodus supports over 100 popular cryptocurrencies. In addition to storage, an internal exchange of digital assets is also available in it. It can be integrated with Trezor devices.
Cryptonator is a cross-platform multi-currency crypto wallet for desktop and mobile devices. It supports not only popular cryptocurrencies, but also fiat. Exchange operations are available in the user’s account, that is, to convert 0.075 ETH to USD or vice versa, you do not need to withdraw coins to third-party resources. Cryptonator has a rich functionality for working with an investment portfolio. For greater security of asset storage, two-factor authentication is optionally available. However, registration is required to use Kryptonator.
Guarda is a multi-currency wallet that has almost all possible versions. It works as a local, mobile, browser extension. Registration is not required, Guarda does not store any information about users. The storage supports about 50 blockchains with all the coins and tokens that function on them. It can be integrated with Ledger hardware storages.
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