According to the CoinmarketCap and many other crypto statistics websites, there are roughly around 6,000 to 9,000 cryptocurrencies in the world operating on different blockchain platforms. With such a huge number of cryptocurrencies on so many blockchain platforms, holding them together in a decentralized manner can be a huge challenge. And with that, the need for multi-cryptocurrency wallets in India comes into the picture.
Yes, there are exchanges that allow you to hold multiple cryptocurrencies on their platform but not every top exchange lists every other coin in order to save their users from scam coins. In fact, it is the decentralized non-crypto exchange wallets that are currently offering the widest variety of coins/tokens storage facilities on their platform. To add further icing to the cake, they also offer buy and sell features of coins within the wallet itself to give great customer service.
So in this article, we will be talking about a few Multi-Cryptocurrency Wallets in India that are offering the widest storage options for cryptocurrencies.
1. Exodus
Exodus is a software multi-cryptocurrency wallet that is available on both desktop and mobile. It currently supports more than 130 cryptocurrencies and has a built-in exchange to buy and sell cryptocurrencies without the need to create an account.
Pros
- Staking is allowed
- Regular Hard Fork updates
- Great User Interface
- Great customer support
- Free of cost
Cons
- Heavy app size on iOS
- No option to export private keys (might get fixed with software update)
2. MetaMask
Metamask is probably the most famous software multi-cryptocurrency wallet in the market. Metamask is available on both desktop and mobile devices. However, in the case of a desktop, it is only available in the form of a browser extension and not a separate windows application.
Pros
- Small app size (both iOS & Android)
- Simple User Interface
- Swap option available
- Can export private key
- Free of Cost
Cons
- Supports only ERC-20 Toker, Etherbased chain
- No staking allowed
3. Blockchain.com Wallet
Blockhain.com wallet is a multi-cryptocurrency wallet that supports many blockchain wallets on its platform. It has got its built-in exchange and allows staking as well. In terms of security, it supports 2FA authentication and also the private key recovery phase.
Pros
- Simple to navigate
- Borrow Feature enabled
- Built-in exchange
- Can export private key
Cons
- Need ID verification to buy Bitcoin
- ID verification for staking
4. Ledger
Ledger is one of the best hardware wallets available in the market right now. It comes in the form of a USB Stick with physical buttons. There are many versions of Ledger devices with different dimensions and weights like Ledger Nano S and Ledger Nano X.
Pros
- Not connected to the internet (Hence, no remote hacking)
- Highly secured encryption
Cons
- The physical device can be lost.
- Need to power up the device to operate it
- Supports only 30 cryptocurrencies
- Expensive Device (6,500 to 14,000 INR)
5. Trezor
Trezor is another hardware wallet in the market which comes with a USB C connector. It supports more than 8 cryptocurrencies and 1000+ ERC-20 tokens. There are many hardware wallets developed by Trezor company like Trezor One White and Trezor Model T.
Pros
- Not connected to the internet.
- Fast processor – 168 MHz embedded ARM processor (Cortex-M4)
- Touch screen
- Extremely light in weight. Weighs only 16 grams
Cons
- The device can be lost
- Highly expensive (15,000 INR)
Conclusion
Every day, there are tons of projects that are getting funding.
Every day, there are tons of projects that are conducting their ICOs, IDOs, and IEOs.
Every day, there are tons of projects that are getting listed.
And with such a huge influx of cryptocurrencies in our lives, a storage facility is indeed the need of the hour. Also, the stake to keep them secured is very high and that’s the reason why today we have so many multi-cryptocurrencies wallets in the market. The best way to choose which wallet is to understand your requirements and then invest in it. If it’s for the long term where you won’t trade much, then a hardware wallet like Trezor or Ledger is the best suited. If you are holding crypto for frequent trade, then a software-based wallet is the best-suited one which you can access remotely.
