Staking is one of the hottest trends in the crypto world today. In Staking, a user locks or holds his funds in a crypto wallet to participate in maintaining the operations of a PoS-based blockchain system. Both Proof-of-Stake and Proof-of-Work have the same objective and that is to achieve consensus while rewarding participation.
Are you participating in Staking? Then, you must know about multi-currency Staking wallets and their benefits. In this article, we are listing the benefits of this kind of Staking wallets along with the top seven multi-currency Staking wallets currently.
Benefits of Multi-Currency Staking Wallets
- A multi-currency Staking wallet helps to bring more flexibility and ease of use into your Staking portfolio of multiple assets. You can stake, transact, and store multiple tokens within one unified interface.
- Multi-currency Staking wallets free a user from the hassle of maintaining and keeping track of Staking rewards and passive income streams from multiple wallets. It helps significantly for your internal accounting and keeping track of rewards being received.
- When one of the cryptocurrencies makes more sense to use, it is easier with a multi-currency wallet to avail the advantage and being flexible in day-to-day operations. It helps leverage the benefits of holding a diversified portfolio of crypto assets.
Apart from these generic advantages, the benefits of multi-currency Staking wallets also vary from one product to another. To understand the spectrum of these benefits that a user can leverage, we will look into the features of the seven top multi-currency Staking wallets.
Keplr Wallet
The Keplr interchain wallet helps users explore the domain of interoperable blockchains and their applications within and beyond the Cosmos ecosystem. The blockchains that Keplr supports include Cosmos, Kava, Secret Network, Akash, Starname, SifChain, CertiK, IRISnet, Regen, Sentinel, Cyber (beta), and Straightedge (beta).
The advantages of the Keplr multi-currency Staking wallet are diverse. You can add any Cosmos-SDK-based blockchain from the web app and instantly add wallet support for your Cosmos zone. Keplr is also the only Cosmos wallet supporting smart contract interactions with CosmWasm and Secret Contracts. The key management features of Keplr are not only limited to mnemonic seeds. It also supports Google logins, private-key imports, and Ledger hardware wallets. Keplr is also highly customizable. Keplr is open-source and any developer who needs a wallet for their custom blockchain can easily fork and customize it. Thus Keplr is a great contribution to the Ecosystem of Cosmos-SDK blockchains. Additionally, Keplr supports non-standard cosmos transactions.
Keplr is the go-to wallet for any Cosmos-SDK blockchain. Staking, Reward Claiming, Reinvesting can be done from within the same interface. However, Keplr does not offer any overview from all assets at the same time.
With the Chrome Extension, Kelpr features an easy-to-use interface within the browser similar to Metamask for Ethereum.
Citadel.one
Citadel.one supports multi-asset non-custodial Staking with their all-in-one Staking interface. The One-seed from Citadel can be used within Ledger, Trezor, Metamask, and Keplr wallet as well.
Besides the wallet interface, Citadel offers its own Staking and validator services. To date, more than $75 million worth of assets have been staked with Citadel. The networks that are integrated into the Citadel Wallet include Band, Bitcoin, Cosmos, Ethereum, ICON, IOST, Secret, and Tezos. However, you can still stake on any validator of your choice.
Citadel also runs Staking services for the following networks: Akash, Graph, IRISnet, Kava, Ki Foundation, Oasis, ORBS, Polkadot, Sentinel, Stafi, and Wanchain. So we can expect Citadel to sooner or later include them into their wallet interface as well.
Citadel offers a unified experience with multiple networks with an instant cryptocurrency exchange, fiat gateway, and bi-weekly report on Staking rewards. Citadel’s portfolio management features include a visualized balance structure, notifications about claimable rewards, non-delegated assets, and unstaking periods. The Citadel.one mobile application is available on both the iOS app store and Google play store.
Atomic Wallet
In Atomic Wallet, you can stake your assets without incurring any additional fees. You receive rewards directly from the validators. Assets available for Staking include Zilliqa, Cardano, Atomic Wallet Coins, ICON, Cosmos, Tezos, Tron, Band Protocol Neo, Komodo, Algorand, and VeChain.
Atomic Wallet comes with several user-friendly features. You can delegate your funds directly to verified validators paying only the fee charged by validators directly. There is no limit on the amount you can stake. You also do not require any KYC compliance. You can unstake your coins anytime you want. The Atomic Wallet support team is available 24/7 through live chats and email.
The Atomic Wallet empowers you with a single secure interface that you can leverage to manage, exchange, stake, and buy your crypto assets. It is compatible with all the leading operating systems including Windows, Mac, Ubuntu, Debian, and Fedora. Users who participate in Atomic Wallet Staking receive rewards directly from the validators.
The wallet supports both mobile and desktop platforms. Since it is anonymous, it does not need you to go through any KYC and AML verification checks. For enhanced security, the wallet has adopted AES symmetric encryption technology.
Guarda Wallet
With Guarda wallet, you can easily leverage several staking opportunities and tokens. The wallet keeps on expanding the list of its supported assets. As of now, the supported assets include Ethereum, CPU & NET EOS.IO, Harmony ONE, Cosmos, Tezos, Cardano, and many more. Most of the assets can be staked from the web, desktop, and mobile.
You can download the Guarda wallet from the Google play store, iOS app store, or Huawei app gallery. You can also download the .apk file. The wallet provides support for more than 45 blockchains. Users get full control over their private keys. Additionally, Guarda maintains encrypted backup for extra safety. You do not need to go through any registration for any use, neither does the wallet store any of the user’s personal information.
The Wallet Connect open protocol of Guarda allows connecting the wallet to DApps. All you need to do is scan a QR code to connect. No matter which device you are using to run the wallet, the transaction history is available on any device. Guarda also synchronizes the transaction history on any device continuously to safeguard the user from the vulnerabilities of hacks and cyber attacks.
Trust Wallet
The assets Trust wallet supports includes Binance Coin, Tron, Tezos, Cosmos, VeChain, Callisto, Kava, TomoChain, IoTex, and Algorand. The wallet will add more assets shortly to its list. The Trust wallet app is available on the iOS app store and Google Play Store. You can also download the .apk file.
Using the Trust wallet, you can buy cryptocurrencies with a credit card. You do not need to fill up any forms or upload selfies before you start trading crypto. The wallet does not collect any of your personal data, and only the user is free to access the wallet. Trust has the provision of a browser for DApps so that you can keep using your favorite DApps or explore new ones without having to leave your wallet. Trust Wallet also has tracking features for you to track charts and prices within the wallet. With its portfolio management services, you can see your collectibles, art, and NFTs all in one place.
Sprout Wallet
The Sprout multi-chain Staking wallet by Sesameseed offers both Ledger and browser wallet options. It comes with both a private key and mnemonic seed. Sprout supports Harmony ONE, ICON, TRON, Ontology, among others. Sprout has also integrated SEED rewards to create the most dynamic Staking experience and maximize Staking rewards. However, holding SEED is not a primary requirement to run Sprout. Yet, with SEED, users can access features such as auto-Staking rewards that instantly enable higher earning potential, compounding rewards that multiply earned rewards over time, redeemable 100% backed tokens and more.
Sprout is built to be accessible and secure. It reduces the barrier to entry and empowers users with intuitive Staking. The wallet is non-custodial and fully decentralized.
Ledger Live
The Ledger Live is the flagship wallet of the infamous Ledger Hardware Wallet. The wallet features 5 assets for staking with support for Tezos, Tron, Cosmos, Algorand, and Polkadot. The benefit of the wallet include its security features. You can securely hold your coins on the linked Ledger hardware wallet while receiving rewards. You can securely stake up to five coins and earn rewards directly from Ledger Live. If you prefer you can also use an external wallet. Users can delegate or nominate inside the wallet to a selected set of validators in order to generate rewards directly paid to their wallet.
You can send and receive 27 coins and more than 1,500 tokens directly with your smartphone using ledger Live. The swap features enable you to diversify your portfolio by swapping crypto assets directly in Ledger Live. You can securely swap more than 50 diverse assets. In terms of security, Ledger Live has the backing of the most trusted hardware wallets in the market that provide the best security & full ownership of your crypto assets.
You can download it for both your desktop and smartphone. The app is available on the iOS app store, as well as the Google Play store. The compatible operating systems for desktop include Windows 8+, macOS 10.10+, and Linux. However you require the Ledger Hardware Wallet in order to have the best possible security and experience.
Conclusion
Now, the question is, which multi-currency Staking wallet should you opt for? It would depend on the type of currency you want to stake. As we have already seen, different multi-currency wallets are compatible with different sets of assets. Especially the staking interfaces and supported validators differ strongly between different wallets. If you have multiple stakeable tokens, then it fully makes sense to choose a reliable wallet from the above list in order to make your life easier and always keep a great overview of your received rewards. Security features, recovery, and retrieval functionalities are also crucial for many. Compare the features that these wallets offer and pick the one that best suits your needs.