What Is a Multi-coin Wallet? with example

 What Is a Multi-coin Wallet? with example

Crypto wallets are vital for users if they want to securely hold their assets off of exchanges. For crypto newbies, there are a few wallets that only hold one crypto asset or group of only a few crypto assets based on one blockchain network.

 For example, many wallets today only support coins/tokens based on the Ethereum blockchain; therefore, these can’t be considered true multi-coin wallets. 

For those keen to diversify their holdings that exist on multiple blockchain protocols, a multi-coin wallet (also known as a multi-chain wallet) is required.

A multi-coin wallet is, as the name suggests, a wallet that supports more than one crypto asset. 

One wallet to store a user’s coins makes it easier to trade them on decentralized exchanges and provides a streamlined way to keep track of their entire portfolio.

Additional benefits of a multi-coin wallet include the ability to hold hundreds or thousands of crypto assets at one location and earn passive rewards through staking or active user rewards, 

These also include the integrations that enable users to directly interact with various DeFi protocols.

AtomicDEX is an example of a multi-coin wallet, with the added benefit of having a built-in decentralized exchange that supports blockchain interoperability.

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