Want to invest in more than bitcoin but have no idea how to manage different coins effectively?
I've got you covered! This is an updated version of my previous article.
In this post I'm gonna give you an overview of the BEST altcoin, multicoin wallets out there. I will be ranking them based on amount of different cryptocurrency supported, ease of use, and security.
Lets get started!
5. Cryptonator
Cryptonator is a web-based multicurrency wallet. It has a built in exchange for its supported cryptocurrencies. This wallet is easy to use but your private keys are not yours. The company has them for safekeeping, and technically has control over your funds. Cryptonator claims that they store 90% of their crypto in remote servers disconnected from the internet, and they use HTTPS and encrypt critical data with the SHA-256 algorithm. As long as cryptonator stays honest, your coins are safe.
Assuming they do stay honest, this wallet is very secure. You can enable 2FA, which means not only would an attacker have to know your Username and pasword, but he would also need access to your phone. Cryptonator also has a built-in phishing detector. If you log in from a different IP than usual, you're required to verify your identity through your email.
Website: https://www.cryptonator.com
Amount of supported coins: 15
ERC-20 Support: No
Wallet type: Web-wallet, be careful with long-time storage. Good track record.
Private keys obtainable: NO
Open source: NO
Platforms: Any platform with a browser
Built in exchange: Yes, Cryptonators own exchangge
Ease of use: Easy
Custom transaction fees: No
Unique features: Fiat support and SEPA payments, web-based.
** Security:**
Password: YES
2FA: YES
Fingerprint: NO
Security pin: NO
4. Jaxx
Jaxx is a multi-platform wallet, meaning you can use the same wallet on your phone and on your computer. They support some of the biggest altcoins, and the most important ERC-20 tokens. An exchange is built in for easy transfer of assets.
What is different about Jaxx is that they give you permissionless access, meaning that you don't need to enter a password every time you use your wallet. They assume you have password-protected your device and that is your security.
That makes Jaxx probably the most vurnerable wallet on the list, and I would only recommend it if you know how to keep your devices safe, or if you're not using big amounts. You can set up a JAX pin, but unfortunately that doesn't encrypt your private keys any better. If you know you have control over your device and know how to protect it, Jaxx is fine to use.
Website: https://jaxx.io/
Amount of supported coins: 9 + 18 ERC-20 tokens
ERC-20 Support: Yes, limited
Wallet type: Hot wallet, not suitable for big amounts
(see post of CTO: https://www.reddit.com/r/jaxx/comments/6gfl4d/easy_extraction_of_the_jaxx_12word_wallet_backup/diq8cs2/?sh=7236ce29&st=j3u0njtu)
Private keys obtainable: Yes
Open source: NO
Platforms: Android, iOS, Windows, Linux, Mac OSX
Built in exchange: Yes, Shapeshift.io
Ease of use: Easy
Custom transaction fees: No
Unique features: ERC20 support, cross-platform pairing, permissionless access,
Security:
Password: NO
2FA: NO
Fingerprint: NO
Security pin: YES
3. Exodus
Exodus is in my opinion the prettiest wallet in this list. They support a decent amount of coins, too. Exodus stores your private keys on your device, encrypted with a password after your first deposit. They have a portfolio view which shows you at a quick glance how your assets are performing. They currently only support desktop, but they are planning on releasing a mobile wallet sometime in the future.
Shapeshift.io is built in which allows you to easily exchange your assets for other assets. Since I wrote about them last, they have added ERC-20 support for a handful of the most important tokens, and 4 new other coins.
Website: https://exodus.io
Amount of supported coins: 12 + 20 ERC-20 tokens
ERC-20 Support: Yes, limited
Wallet type: Cold storage, encrypted with password
Private keys obtainable: Yes
Open source: NO
Platforms: Windows, Linux, Mac OSX
Built in exchange: Yes, Shapeshift.io
Ease of use: Easy
Custom transaction fees: No
Unique features: ERC20 support, Shapeshift.io integration, amazing design and portfolio view
Security:
Password: YES
2FA: NO
Fingerprint: NO
Security pin: NO
2. Enjin wallet
Enjin wallet is a relatively new wallet but with some very nice features already. Made by the creators of the Enjin coin, a coin focused on gamers and tokenizing in-game items, this wallet has a dedicated team behind it and still regularly receives updates. Their main focus seems to be security, and they claim to be "The most secure mobile wallet in the world". Some nice security features include Fingerprint unlocking, screenshot protection and a dedicated secure keyboard for entering your password in the app.
Their design is sleek, simple and easy to use. One big downside in my opinion, since were talking about multi-coin wallets, is that they mainly support ERC-20 tokens and not much else. They have stated that they are planning to keep adding coins, so definitely keep your eye out for that.
Website: https://enjinwallet.io
Amount of supported coins: 3 (BTC, ETH, LTC) + ALL CMC-listed ERC-20 tokens
ERC-20 Support: Yes, by default
Wallet type: Cold storage, encrypted with a password or fingerprint
Private keys obtainable: Yes
Open source: NO
Platforms: Android and iOS
Built in exchange: No
Ease of use: Easy
Custom transaction fees: Yes
Unique features: ERC20 support, special secure keyboard, multiple wallets, ability to watch public adresses, adding hardware wallets.
Security:
Password: YES
2FA: NO
Fingerprint: YES
Security pin: NO
...and the winner is...
1. Coinomi
Coinomi comes in at number one, simply because they support the biggest amount of different coins, are mostly open source and have a lot of nice features implemented. Many multicoin wallets only support a handful of coins + ERC20 tokens, but coinomi actually support 144 different coins that are not ERC-20 based.
With Coinomi, you get a clear overview of all your balances, and Coinomi combines this balance so you can see exactly how much your crypto is worth. Coinomi stores your private keys locally and encrypts them. This makes it a decently safe wallet. They are big on privacy and their software is built around making sure that nobody can trace your transactions back to you. They are also working on a desktop client, but no ETA on that yet.
Website: https://coinomi.com/
Amount of supported coins: 144
ERC-20 Support: Yes
Wallet type: Cold storage, encrypted with a password
Private keys obtainable: Yes
Open source: Partly, closed their source because of scammers cloning their code: https://github.com/bitcoin-dot-org/bitcoin.org/issues/1622
Platforms: Android and iOS
Built in exchange: Yes, Shapeshift.io and Changelly
Ease of use: Easy
Custom transaction fees: Yes
Unique features: ERC20 support, in-app ICOs, in-app exchanges, in-app crypto purchase
Security:
Password: YES
2FA: NO
Fingerprint: NO
Security pin: NO
I hope you enjoyed this post. If you did, leave an upvote, comment and resteem. I will be forever grateful! I will be posting more guides and other cryptocurrency related content, so if you're interested in that, do yourself a favor and hit that follow button!
See you next time,
MriLevi