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Since Altcoins are precious currency, they need a corresponding storage place. Looking for a multifunctional wallet that supports many currencies is a great idea. Luckily, there is a wide range to choose from when it comes to the best desktop wallet for altcoins. For starters, one needs to assess the perks of the desired storage.
What features should my Wallet have?
Cryptocurrency wallets differ from traditional online banking. It requires much more security. With the bank, you have many options, and some of them are state-owned, so it is easy to trust them. What about crypto? It is much more complicated to find a reliable wallet and ensure that it serves all your needs. For example, you want to convert from Shiba Inu to certik, and the wallet won’t let you. Besides, the terms and conditions of some programs state that they possess your keys. Hence, it seems like they have your balance under control. It takes a lot of credibilities to let them do it. So, what are the crucial features that the wallet should have?
- The software should use a highly secure encryption algorithm (for example, SHA-256);
- The servers where the data is stored should not be connected to the Internet;
- It should be a well-tested software, not a wallet at the early stages of testing.
Many start-ups roll out their programs for public use with the disclaimer that it is still being checked. You need to assess the risks of engaging with such a company. They will probably ask you to sign the waiver saying that they have no responsibility in case of any incidents. It is tricky, yet these services do not have a lack of users.
What Options Are the Most Reliable for Altcoins?
A wide variety of options and competition in the cryptocurrency wallet market allows us to analyze, compare and draw solid conclusions. For sure, your options are limitless, but they all bear some risks and drawbacks. So far, the leaders of the market are:
- Cryptonator offers you a desktop version and lets you exchange and store ten types of currencies;
- Exodus supports eight currencies and has a better security system than most competitors. It does not have a mobile version.
- Jaxx stands out with the user interface. It is a very easy-to-use platform with the possibility to store 12 types of coins.
- Coinomi is an absolute winner in terms of the currency that it supports. As many as 64 coin types can be stored there. It is a loss that they have not rolled out the desktop version yet, but it is on the way.
Conclusion
It is up to you to decide the most reliable service. You might listen to the recommendations of your favourite tech-blogger or friends. However, make sure to filter the feedback based on objective arguments. The technical side of things is crucial. It should be a well-designed platform with a good feature set. Ideally, the wallet should provide exchange services for most currencies. Be aware of the constraints when you get a mono currency wallet. Besides, look carefully into how the keys are stored and how safe the company’s policies are. If you make a checklist and the program you select corresponds to most requirements, you are on the safe side.
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