From time to time I get some really quality questions from my followers. I try to answer every legit email and question that people throw at me because my whole reason for being in the crypto world is to help others understand this next generation of currency. I recently got a really great beginners question from a follower that goes by "Senior 'Stache" (love the pseudonym!) that I thought would make a good video for anyone else that had the same question. Follow The 'Stache as I break down this question in the most staching-ly easy way I can!
What Is The Best Crypto Wallet For Altcoins?
Senior 'Stache writes:
"Hello Shea and thanks for the informative articles. As a senior citizen, I find the concept of cryptocurrencies intriguing and convoluted and have spent many frustrating hours trying to gain some understanding. Coinbase was relatively easy and I still prefer to purchase BTC and ETH there. But it gets more complicated as I piddle with Lumen, Ethlend, etc. I can go to Binance or Bittrex and make the exchanges, but how do you safely store smallish amounts of multiple cryptocurrencies? That's were it gets really confusing for me. Do you have a separate hardware wallet for each coin--I don't want that. Is there any online wallet that is as easy as Coinbase but accepts lots of different cryptos? I tried using MyEtherWallet to store the Ethlend, but found it very, very complicated and every time I chose a tab on the top of the page, I had to go through the entire login process again--UTC, password, etc.
So, any suggestions for simple but secure ways to store a half dozen cryptos (other than BTC and ETH)?
Hopefully this video answers all your questions Senior 'Stache and if you are a beginner like him I hope this also helped to clarify some confusion on how to store multiple altcoins in just a FEW wallets so you don't have to break the bank buying hardware wallets or storing them on a million unsafe exchanges!
Make sure to check out my RESOURCES section that has all my daily tools that I use in cryptocurrency. More great crypto beginners content coming soon, but until then...