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Author Topic: Multi-coin wallets?  (Read 215 times)
bitsnbits (OP)
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May 11, 2021, 12:50:11 AM
Merited by Symmetrick (1)
 #1

I'm buying a bunch of miners this week for ETC, BTC, SIA and in the near future DOGE/LTC and KDA.

I want to have 1 wallet that can hold them all, versus a brokerage. Can anyone recommend the best one for this? Also, do I need to create addresses separately for each of these, or will these apps do it for me?

I looked up HyperPay, which seemed good, but then there were a ton of bad reviews for it.

I was considering the wallets in Crypto.com and BitMart, but I think it's not suitable for mining where a little bit hit the account each day or throughout the day.

Thanks!
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May 11, 2021, 12:53:55 AM
 #2

Go the safer route and purchase a Ledger[1] or Trezor[2] hardware wallet. Not sure if it supports like every single coin you've mentioned, but it's highly likely.

Can anyone recommend the best one for this? Also, do I need to create addresses separately for each of these, or will these apps do it for me?
Each of the coins you've mentioned are in different chains so yea each address should be different. (not to confuse public addresses from 12-24 word backups)


[1] https://ledger.com/
[2] https://trezor.io/

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May 11, 2021, 02:06:51 AM
 #3

I looked up HyperPay, which seemed good, but then there were a ton of bad reviews for it.
Its really a ad wallet, upon reading their recent reviews and people are complaining their cryptos while using their wallet and I can't able to find whether its open or closed source wallet so don't take such risks.

As mentioned above just go for the safest options while are hardware wallets.

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pooya87
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May 11, 2021, 03:44:27 AM
 #4

I'm buying a bunch of miners this week for ETC, BTC, SIA and in the near future DOGE/LTC and KDA.
I would be more worried about this part, when you say "miners" do you actually mean buying the real equipment (ASIC, GPUs, mining rigs,...) delivered to you where you install at home and then run to mine these coins or do you mean some website you have signed up with (aka a cloud mining) where you pay them some money and they promise you they have actual hashrate and are mining these coins?
Since you are mentioning a bunch of different altcoins with different algorithms and bitcoin it seems like it is the later in which case you may be getting scammed since cloud mining services are Ponzi schemes.

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Bravehash
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May 11, 2021, 06:29:17 AM
 #5

You can buy hardware wallet which is my first recommendation and we have good multi wallet apps too that are available on Android smartphone

Trust wallet
Atomic wallet
Coinomi wallet

Creating a wallet on these apps will give you a recovery seed for all coins addresses like BTC, ETH, LTC, DOGE, SIA and many others

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May 11, 2021, 06:43:50 AM
 #6

https://www.coinspot.com.au/multicoinwallets
https://www.exodus.com/. It is a closed source wallet.
https://metamask.io/. You can use this wallet, Metamask extension and Binance Smart Chain to swap your fund from one coin to another coin or token with cheap swap and transaction fees.

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May 11, 2021, 06:45:57 AM
 #7

It is safe to have hardware wallets so that you have different places to store your coins, so if ever you lose one, you can still have access to your other coins.

Ledge Nano, Trezor, and other hardware wallets are essential when you are a bitcoin holder or crypto investor.

Storing it in the internet is never save so it is much better to have multi-coin wallets that will help you to secure coins safely.

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May 11, 2021, 07:20:59 AM
 #8

I'm in love with metamask application right now and also trust wallet, the fact is you can create any wallet on metamask and own the private keys separately for each coins, like separate Private key for ETH, separate Private key for BTC, same thing can be found in trust wallet too, unlike coinomi wallet you will have to use iancoleman to get your private keys

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May 11, 2021, 07:25:51 AM
 #9

do I need to create addresses separately for each of these, or will these apps do it for me?
You have gotten a lot of good advise already, but on this part, do not store funds in a wallet or software which generates your keys (addresses) for you. Always use open source services and be in control of your seed phrase or private keys, as without these, you do not truly hold the funds in the wallet.

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May 11, 2021, 08:30:38 AM
 #10

Go the safer route and purchase a Ledger[1] or Trezor[2] hardware wallet.
Hardware wallets aren't exactly suitable to receive multiple small transactions like mining rewards. Ledger discussed this a while back in their blog. It can lead to all kinds of problems with synchronization and negative affects while sending money from your Ledger Live addresses and LL. Some of these issues could probably be solved by using Electrum.

It might be better if OP used a multi-coin wallet like Coinomi or Trust Wallet, and consolidate all his inputs into one. That could then be sent to an address generated by his hardware wallet.   

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May 11, 2021, 09:30:47 AM
 #11

Hardware wallets aren't exactly suitable to receive multiple small transactions like mining rewards. Ledger discussed this a while back in their blog. It can lead to all kinds of problems with synchronization and negative affects while sending money from your Ledger Live addresses and LL. Some of these issues could probably be solved by using Electrum.

It might be better if OP used a multi-coin wallet like Coinomi or Trust Wallet, and consolidate all his inputs into one. That could then be sent to an address generated by his hardware wallet.   

Oh true, I've heard of such complaints on Reddit as well. But an easy solution is just to not use Ledger Live.

And yea, just using a software wallet might be a better option. It's just going to depend if OP is planning on sell on the daily/weekly/biweekly/monthly(then probably a reputable software wallet), or if OP is planning on holding for a decent amount of time(then a hardware wallet is probably a good option).

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May 11, 2021, 09:34:24 AM
 #12

If you are buying bunch of miners than you can afford to buy hardware wallets and I would suggest Open Source wallets like Trezor Model T or Bitbox02, and check the list of supported coins before purchasing.

There are other software wallets that support multiple coins like Exodus, Coinomi, Trust wallet and Atomic, that are free but they are all closed source software and they can cost you much more if some bug or exploit is found.

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May 12, 2021, 02:40:58 PM
 #13

With the hardware wallets, if you lose the usb wallet, then you are screwed, right?
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May 12, 2021, 02:45:21 PM
 #14

I'm using OWNR. It makes address for every coin you HODL. You don't know you private key and no one knows it there. I've used Trustwallet too. It's pretty OK too. Can't say about anything else about other wallets.
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May 12, 2021, 04:44:12 PM
Last edit: May 12, 2021, 05:16:08 PM by sujonali1819
 #15

 The Trezor and Ledger Nano is the best option in this case if you can buy them.

A part of these, I am a fan of trust wallet. Using this for atleast more than one year without any issue yet. It's multi coins wallet and a lot of coins supported there. You may try it out. Hopefully Get a good result than other multi coins wallet Imo.

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May 12, 2021, 04:51:56 PM
 #16

Trezor and Ledger might be what you are looking for. They are hardware wallets - the most secure wallets on the planet.

If you do not like physical wallets, Trust wallet is more suitable for you. They have a good app on mobile phone, supporting both android and ios  Grin





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May 12, 2021, 05:21:18 PM
 #17

With the hardware wallets, if you lose the usb wallet, then you are screwed, right?

That's not right. If you have the private key or memoric phase of that wallet, than you can add/import that wallet into other software or hardware based wallets. So just go for the hardware and keep private key in safe place. As always Not Your Key, Not Your Cryptos.  Wink

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May 12, 2021, 05:27:13 PM
 #18

With the hardware wallets, if you lose the usb wallet, then you are screwed, right?
You can have many ways to recover if you save the necessary details. Say, you have safepal hardware wallet. You can store the 12 words seed recovery phase on paper or on metal. Now, if you lose the wallet, you still have the seed words. Alternatively, you can save private key for each asset and address.

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May 12, 2021, 05:32:33 PM
 #19

With the hardware wallets, if you lose the usb wallet, then you are screwed, right?
Hardware wallet will save your funds even if your device is infected with malicious links but its just a wallet too so you can recover it to another hardware wallet when you have the private keys or recovery seeds so keep in mind all you need to care about is the seeds which can get back to your funds even if you lose the device.









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May 12, 2021, 05:41:11 PM
 #20

You can buy hardware wallet which is my first recommendation and we have good multi wallet apps too that are available on Android smartphone

Trust wallet
Atomic wallet
Coinomi wallet

Creating a wallet on these apps will give you a recovery seed for all coins addresses like BTC, ETH, LTC, DOGE, SIA and many others

Nice suggestions! All 3 are great, I tried them all at some moment, but in the end I chose the Atomic wallet. Maybe it's just matter of taste, i like the interface, colors, options... All in all it's a great wallet, I am using it for years and I never had any serious problems... a few little things got solved pretty fast with the help from their support.
Free and trustworthy wallets, with staking features, which is a great thing for us who have some coins for longer period, without plans of selling them.

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