In choosing the best crypto wallet, you have to consider a lot of things. One of which is what crypto wallet supports the most currencies and what functionality it gives you. Most people have invested in different crypto, so they would prefer a crypto wallet that supports many cryptocurrencies. If you are one of them, read on and see which crypto wallet suits you best.
Choosing The Best Wallet For You
Before we begin, we will teach you how to choose the best digital wallet for you. Let us distinguish each kind and type of wallet that would be more suitable for your needs and security.
Cold and Hot Wallet
Cold storage wallets are currency storage that is not connected to the internet.
Compared to hot wallets, these are more secure, but most do not have the function to trade your cryptocurrencies easily. Examples of cold storage are your hardware wallets, paper wallets, and some desktop wallets.
The downside of cold storage wallets is the possibility that you lose them physically. Printed paper wallets can be destroyed in calamities or accidents like fire and physical theft. If these happen and you lost your private key, you will have no other ways to recover your crypto.
Hot wallets, on the other hand, are linked to the internet.
Hardware wallets are cold storage wallets. The best hardware wallet we can recommend is the Ledger brands and the Trezor brands. Check them out and see what crypto wallet supports the most currencies here.
Ledger has two models--(1) Ledger Nano X and (2) Ledger Nano S.
The Nano X is the newer model. It can contain up to 100 apps meaning you can manage up to 100 kinds of cryptocurrencies at one time. The Nano S can hold 3-20 apps at a time. The Nano X also has Bluetooth and can be managed through the mobile app, while the Nano S doesn’t have this function. Both of these are compatible with around 1,200+ crypto assets and compatible with 50+ wallets. The Ledger brand hardware wallets are one of the most secure wallets out there.
The downside for them is that they cost more than the others too. You can get Ledger Nano S at around $60, and the Nano X costs more than a hundred dollars.
Trezor brand is the best alternative for Ledger. It also has two models: the Trezor One and Trezor Model T.
Trezor One costs almost the same as the Ledger Nano S. Trezor has a higher number of compatible crypto assets with around 1400+. It also has a more prominent display than the Ledger brand wallets.
The Trezor Model T, on the other hand, comes at the highest cost, around $170. The model T has added security layers like a password manager and different authentication layers some brands don’t have. That’s why it comes with a price like that.
In hardware wallets, the Trezor Model T will probably have the highest number of compatible crypto assets, and it also has tighter security than most wallets have. Considering all other factors, the Ledger Nano X can still be regarded as a top contender because its functions are not present with the Trezor Model T, and it comes at a lower price.
One tip about buying hardware wallets is buying them directly from the website of the creator. Some hackers take advantage of beginners by buying hardware wallets, saving the recovery seed phrases then re-selling the wallets online. After the second-hand buyer earns crypto for the wallet, the hacker recovers the account using the seed phrases and steals the second-hand owner’s crypto. Buy directly from the website of the creators to avoid this scam.
Software Wallets and Cloud-based Wallets
Check out what crypto wallet supports the most currencies among the cloud-based and software wallets here.
For Desktop wallets, one of the best to look at is Exodus. It has a mobile version too, and it can integrate with the Trezor and Ledger wallets. Exodus supports 100 different currencies. The downside for Exodus is its mediocre security, and its transaction fees are sometimes high.
Another one is Coinbase. It also has a mobile and web interface. It has a good record regarding its security, and it is easy to create one. It also supports most coins supported by other apps. It’s also easy for beginners because it incorporates exchanges in the app. The downside for Coinbase is their transaction fees are high. It also has experienced downtime before.
These two are among the best in terms of service and functions, and they also support a high number of crypto assets. There are many other software wallets and cloud-based wallets out there, with each their strengths and weaknesses. You just have to find what suits you best. Learn more about crypto wallets here!
If you read this article to see what crypto wallet supports the most currencies, you probably found that the answer is the Trezor Model T hardware wallet. Choosing the right crypto wallet for you still depends on what you need it for. You will probably find buying a hardware wallet hassle for small-scale transactions, but buying hardware wallets would definitely be better for you if you would store large amounts. In the end, it is your decision.