Do I have to have a separate wallet for each cryptocurrency?

A crypto wallet (or wallet) can only contain one type of cryptocurrency. For example, a Bitcoin wallet will only contain Bitcoins. However, there are also multi-wallets or cryptocurrency exchange wallets that can hold multiple cryptocurrencies. All of them offer advantages and disadvantages in terms of management, functionality and security.

Simple (classic) wallet

A crypto wallet will store a single cryptocurrency. It is a classic bag. The advantage of a simple wallet is that it will have many features that multicrypto wallets do not necessarily have:

  • simple management
  • full access to the blockchain
  • access to the official cryptocurrency wallet

The download of the application will be done on the official crypto website. Therefore, you will need as many applications as a simple wallet.

Multiple portfolio Portefeuille

The Multi-Wallet allows you, as its name suggests, to have several cryptocurrencies in the same wallet to centralize and simplify the management of your crypto assets (spend, receive, exchange).

A multi-wallet wallet will be less protected than a single wallet.

cryptocurrency wallet

The function of a cryptocurrency broker is to allow the exchange (purchase/sale) between 2 third parties (natural persons, for example) to allow them to guarantee the exchange.

Some financial instrument brokers (stocks, CFDs, indices, forex, etc.) also offer access to cryptocurrency trading through a cryptocurrency wallet.

A crypto wallet allows:

  • buy cryptocurrencies
  • send crypto to another wallet
  • convert an active crypto
  • to receive an active crypto
  • and of course to exchange cryptos

Here is a list of cryptocurrency brokers:

  • Etoro: Etoro money is the software to manage your cryptos.
  • Xtb – XTB offers a CFD account on cryptos (50 cryptos).
  • Avatrading: Ava Trading offers a crypto account (18 cryptos).

To see: All cryptocurrency brokers.

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