Top 5 Hot Multi-Cryptocurrency Wallets: Build a Wallet Like These to Gain Competitive Edge

Bitcoin has gained burgeoning popularity and is continuing to gain worldwide adoption despite its price fluctuations. With the increasing acceptance of Bitcoins comes the need for a secure wallet to store these digital currencies.

Where you should keep your cryptocurrencies?

Usually, traders store their crypto assets in the exchange’s wallet. These wallets, however, are not considered to be safe because they keep the private keys of cryptocurrencies stored in them within their framework. An example of this is Mt. Gox hack wherein Bitcoins worth approximately $850,000 were stolen presumably from Mt. Gox hot wallet. The private keys are the only possible way to claim the Bitcoins and if these private keys are stored on the server then it increases the probability of frauds.

There are some of the factors which need to be considered while selecting a reliable crypto wallet:

• Control of private keys
• Backup and security features
• Developer’s community
• Ease of use
• Compatibility

Furthermore, if you are keen to launch your wallet, then you should be clear about the features that can fortify the security of your wallets. Let’s have a look at some of the leading hot wallets and their features so you could gain insight into how to create a Bitcoin wallet app that is secure and acceptable by users.

1. Lumi Wallet

Lumi wallet is designed for both beginners and advanced users. It provides a high level of safety and security to its users. The wallet maintains complete user anonymity and boasts of friendly user interface.

• It supports cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, EOS and ERC20 tokens
• Works on both Android and iOS devices
• You can recover your wallet by importing a 12-word backup phrase
• It shows the value of your coins and tokens in both USD and crypto
• It shows details of all of your ingoing and outgoing transactions
• It shows BTC, BCH, ETH, EOS and other tokens’ market price graph
• It scans wallet addresses via QR codes
• It protects the fund with PIN or touch ID

The security within the wallet is maintained with the generation of a private key on a user’s device and it is never sent outside of it. No one can access your mnemonic expect the authenticated user. Lumi wallet makes the transactions secure with safely signing them with the mobile device.

Lumi wallet supports majority of ERC20 tokens. And even the portfolio of digital assets can be conveniently organized by hiding, exposing and shifting the tokens.

2. Ancrypto wallet

Ancrypto is a mnemonic- based semi-HD mobile wallet that allows secure storage and instant transfer of cryptocurrencis. At present, it supports Bitcoin, Ethreum and ERC20 tokens. The Ancrypto wallet is widely used by crypto traders and crypto exchange owners for secure, quick and easy transactions. The features of Ancrypto wallet include:

• 12-word mnemonic phrase – this security feature enables easy wallet restoration when the wallet is deleted or moved to another device.
• Multi cryptocurrency support – Ancrypto currently supports Bitcoin, Ethereum and over 7 ERC20 tokens.
• Full control with users – Users have complete control over their private keys that are broken down into mnemonics and stored only on the users’ devices instead of the server, thereby offering world-class security.
• Instant transactions – The transactions are implemented in just a few clicks.
• QR code scanner – QR code scanner automatically scans wallet addresses and accelerates the exchange of crypto assets.
• NFC (Near Field Communication) Support – It expedites the. As the sender taps on the NFC tag, it automatically fetches the receiver’s wallet address and further processes the transaction.
• Biometric authentication – The facial recognition feature ensures authenticated transactions.
• Multisig support – The multisig feature (also known as multi signature) adds an extra layer of security to the wallet. It requires more than one person to sign the transaction for execution, thereby leading to authenticated transactions.

3. Exodus Wallet

Exodus was founded in 2015 and has been regularly updated across desktop, mobile and hardware. It is a multi-cryptocurrency wallet with an easy-to-use user interface. The wallet places, calculates and organizes the savings with a pie chart portfolio. Exodus even allows you to instantly trade the supported coins through their built-in exchange.

Exodus is partially open-source and allows you to keep your wallet safe and ready for further use. It supports approximately 95 cryptocurrencies.

The features of Exodus wallet comprise:

• Multi asset wallet – Exodus wallet supports not just Bitcoin but other cryptocurrencies as well. It also supports ERC20 tokens.
• Easy to use design – The interface of the wallet is not just beautifully designed but also has a friendly visual representation. It assists the users with the pie charts. It allows the users to manage their portfolio and keep track of their crypto assets.
• Built in exchange – The users of Exodus can trade their cryptocurrencies from within their wallets by using the infused wallet’s built-in crypto exchange. And it has been made possible due to API integration of ShapeShift.
• Fast and convenient – The wallet users do not require much of the time to download the entire blockchain to their computer. It is fast and convenient to use.
• Security – The assets on the blockchain are fully encrypted and secured by a password. The full control of the private keys is with the users and it is stored on their personal system.
• Privacy – The wallet offers user anonymity. The personal data and the private keys always remain private and are not shared with anyone in any case.

4. BitGo Wallet

BitGo is a wallet with impressive security features, interactive designing and the modern interface. This multi-signature bitcoin wallet is used primarily for Bitcoin transactions.

Below mentioned are the features of the BitGo wallet:

• Private Blockchain – The technology behind BitGo is the private blockchain and the wallet is completely easy to use.
• Multi-signature wallet solution – Multi-signature is the only feature which allows the multi users to regularly sign in simultaneously to a single account. This further promotes sharing of the account among a group of people in a hassle-free way.
• Instant transactions – The major obstacle often seen is the huge processing time for Bitcoin transactions. BitGo reduces the processes time and increases the speed and quickness of the transactions.
• Usability – BitGo was initially launched as a centralized platform. Later on, it was developed on android iOS platform which allows user to have complete control of their private keys.

5. Jaxx Wallet

Jaxx wallet is the product of Kyptokit. It is founded by Ethereum co-founder Anthony Di Iorio in 2013. The wallet has a simple and user-friendly UX. Following are the features of Jaxx wallet:

• Allows cross-platform pairing. Any changes done on the device will reflect in real-time.
• Supports multiple crypto coins.
• The ShapeShift embedded into the wallet allows users to exchange one coin for another in a smooth manner.
• The user interface is 100% intuitive and smooth. The design is cluster-free; users can easily access, send and receive their assets.
• The design is modern, professional and attractive and remains same on all the device platforms, thus maintaining the consistency.

End Notes

The hot wallets are in trend as they provide complete user safety and convenience while trading cryptocurrencies.

If you envision building and launching your hot wallet fortified with features like the aforementioned wallet features, or want to comprehend how to create a Bitcoin wallet app, we can assist you while harnessing our technical know-how. We have real-world experience building wallets underpinned by market-leading features for enhanced security and user experience. In addition to building a fully-customized wallet from ground zero, as per your business requirements, we specialize in delivering multi-platform, multi-currency, semi-HD white label wallet in just 3 weeks.