Multi-currency Crypto Wallets with Passive Income Features

Handy Tips / 16.07.2020

Cryptocurrency wallets are especially useful tools that always allow crypto enthusiasts to have quick access to their crypto assets. It’s worth mentioning that this is one of the ways global use of cryptocurrencies in our daily lives can become a reality. However, some multicurrency wallets have moved a step further, not only as a payment tool, but in addition serving other unique functions in the digital financial world.

Blockchain solutions have made it possible for crypto enthusiasts to use their cryptocurrency wallets as a haven to grow their assets, as well as use them as a payment tool. Talk about such wallets and the renowned ones in this industry are Flits app, Cobo wallet, Trust Wallet, Huobi Wallet etc. There are equally good options out there, but this review will focus mainly on the wallets named above. The reasons are based on the security of funds and good user interface, which makes most investors in this industry prefer using them.

FlitsApp

flits crypto wallet allows cryptocurrency users to host decentralized masternodes and cold staking

It is a decentralized multicurrency wallet that comes with decentralized cold staking feature, as well as decentralized hosting masternodes. This is one thing that makes Flits wallet very unique among other passive income earning cryptocurrency wallets. While you entrust the security of your funds onto various platforms on which you stake, with respect to other wallets, Flits app with its cold staking feature puts users in full control of their funds while earning passively. Both staking and running masternodes are available in one-click solutions.

You don’t need any in-depth technical knowledge to setup a staking wallet or masternode. Currently, Flitsapp supports Bitcoin, Ethereum, Zcoin, PIVX, DIVI, and more than 60 masternodes and Proof-of-stake assets at a very affordable price for masternode owners. However, users running masternodes or staking can disable the features at any point in time and have access to their funds that very minute. In addition, swap technology has also been embedded into the wallet to allow users to sell their rewards for Bitcoin while other major coins will be supported in the nearest future. On the other hand, users can equally sell their rewards and purchase gift cards and use them in over 50 online stores.

Cobo Wallet

cobo wallet is a mobile wallet with staking features enabled

An all-in-one wallet platform that allows users to interact with their funds, stored on hot wallet and cold wallet. This is a unique feature that Cobo has brought into this industry together with other products that it also has. Cobo Vault comes with air-gapped hardware wallets, that provides maximum security from any attempts of security breach, as these hardware devices do not need any form of connection (Wifi, Bluetooth, USB connection) in order to execute a transaction.

Not only individual users, but Cobo Custody has been designed specifically for institutions who might want to keep funds safe for a common purpose. Multiple signatures, 2-FA authentication are enabled on all these wallets, to ensure absolute protection against the funds of its users.

Having a unique and simple graphic user interface makes using cryptocurrency wallets come with ease, and that’s exactly what Cobo wallet provides. Earning passively through Cobo wallet is enabled for most of its crypto coins and over 700 tokens that allow staking on its network. Users can do this through their Cobo Cloud wallet, which can be accessed easily through the mobile wallet. All that needs to be done is to deposit the funds in there and enable the staking feature to start earning. Remember, it’s a cloud wallet and you are not in full control of your funds. However, Cobo is one of the cryptocurrency wallets developing companies that are well-known for their secured systems.

Trust Wallet

trust wallet is one of the most popular cryptocurrency wallets that allways crypto staking

Known by its reputation as being owned by managers of Binance, Trust wallet is a multicurrency wallet that supports over 45 blockchains and almost any ERC-20 token deployed in the crypto industry. It is really known for its simplicity of use, as a result of a simple basic user interface. The wallet is very secured and has made it one of the most popular mobile cryptocurrency wallets being used now. It also comes with an integrated swap technology that allows users to trade their cryptocurrencies with ease.

Bridging the gap of traditional payment system and digital payment system, users of Trust wallet can also purchase cryptocurrencies with Visa and Mastercard. Staking is also enabled on this wallet for holders of TRON, KAVA, VET, TOMO, COSMOS, ALGO etc. Staking can easily be done by depositing the respective asset and navigating through the app to get it up and running. However, users should note that, some wallets require lock up days and disabling staking might not release your rewards immediately.

Huobi Wallet

huobi wallet has become popular lately thanks to its unique features

Is a multicurrency digital wallet that is developed by the Huobi group and supports over 1000 cryptocurrencies, including major coins including ERC-20 Tokens. Huobi group, known for its secured exchange platform, have developed this wallet with a robust design keeping the funds of users secured beyond any form of breach.

Huobi wallet comes with a simple and attractive graphic user interface, which makes it simple for even average Joes to navigate through without any glitch. Huobi has established partnership with Changelly, making it possible for users to trade their cryptocurrencies for others through the wallet with ease. Furthermore, they provide staking services for major altcoins such as ATOM, IOST, ONT, LOOM etc. at no fee. Like Flitsapp, staking is on-chain, hence users need not to deposit their coins onto a staking wallet and they can withdraw at any point in time.

Conclusion

Proof of Stake as a consensus protocol came along with earning passively, which is the trend with most upcoming blockchain startups. Having a multi-currency wallet that supports staking features, swap technology puts you on the go with your digital assets. Whilst many wallets might have control of your funds while staking, Flitsapp is the only decentralized cold staking wallet that puts users in full control of their funds when staking or hosting masternodes. In addition, users can disable and withdraw their funds at any point in time, without any form of lockup periods.

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Holds a degree in BSc. Nursing from the University of Cape Coast, Ghana yet an addict to the blockchain technology and the cryptosphere. He combines the promotion of crypto projects and also the making of professional contents all to get innovative projects to the real world. He is a passionate Community manager and a Marketing Advisor for blockchain startups.