You know by now where to store your bitcoin … you need a Bitcoin wallet (a.k.a. mobile wallet, digital wallet, crypto wallet, or several other names). But where do you put your altcoins?
Altcoins are a different story because there are thousands of them available. Just because you have a mobile wallet capable of storing, sending and receiving bitcoin doesn’t mean you can use it for every other altcoin out there.
Each crypto wallet has its own set of compatible coins, and you need one that supports your favorite before you can buy, sell, trade or manage your stash.
There are many choices available, but unfortunately some of them are short-lived, buggy, or don’t have proper support available. We looked at a lot of the top wallets for 2021 and came up with several preferred options.
Here are some popular selections, along with some pros and cons for each.
The Coin Cloud Wallet app is compatible with Bitcoin as well as Bitcoin Cash, Ethereum, USD Coin, Paxos Standard, Gemini Dollar and Binance USD. So, if those are your altcoins of choice, the Coin Cloud Wallet is perfect for you (if not, more coin selections are being worked on as we speak). Plus it integrates with Coin Cloud DCMs for shortcuts and faster transactions.
The Coin Cloud Wallet app is available for iOS or Android, so it’s very convenient for almost anyone. It’s user friendly, even for beginners. And it’s non-custodial, so you own the private keys and can do whatever you want with your money.
Coinbase is the first crypto experience for many newbies, because they do a lot of advertising and seem to show up for any Bitcoin-related web search. But did you know they have two wallets — one custodial (the “app”) and one non-custodial (the “wallet app”)? And that they don’t support the same coins? (If you’re confused now, you’re not the only one!) Both support various tokens and assets, but the non-custodial wallet has more compatible options, including NFT collectibles.
If you choose the custodial app that’s connected to your Coinbase account, keep in mind that you don’t have access to your private keys, so Coinbase controls your money. If you choose the non-custodial wallet, no Coinbase account is required. But it’s built for more advanced users so you’ll need to spend some time learning to use the tools.
Coinomi is non-custodial and natively supports over 100 different coins, but until recently was only available for Android. So the iOS and desktop versions are pretty new, and the user interface on all versions is kind of dated.
Reviewers report a steep learning curve for beginners, and a higher price point than expected. But it’s worth checking out if you want to store … well, pretty much any altcoin, because developers claim you can add your own coins manually if support isn’t built in.
Exodus is similar to Coinomi — it’s non-custodial and supports over 100 different assets. It’s available for iPhone, Android and desktop.
But it’s resource heavy, so it’s prone to slowing down or crashing your phone. It’s also designed for experienced users, meaning it’s pretty complicated, with a lot of steps involved … not exactly beginner friendly.
So when looking for a place to store altcoins, it boils down to a few questions: What coins do you want to manage? How advanced a user are you? Do you prefer simplicity or the ability to customize everything? And do you want to buy your altcoins with cash?
Pro Tip: You can use ANY crypto wallet at Coin Cloud DCMs, which offer over 30 altcoins to buy and sell with cash. But the Coin Cloud Wallet app streamlines the process and is user friendly as well as secure.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 3,500 locations nationwide, in 47 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell 30+ virtual currency options with cash.
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