Topic: Altcoin Wallets - page 3. (Read 390 times)

2FA will make your account more protected but it's still very risky because Exchanges are an attractive target for hackers, legitimate wallets are wallets that are supported or recommended by the project team, but most recommended wallets are hardware wallets and we have to download and sync if we want to use it, there are mobile wallets whose private key is managed by the user but unfortunately most wallets only support tokens and some Altcoin

Hello jerry0,

We understand if you have invested in many different altcoins it might seem like a lot of trouble to download each individual wallet. However, as you stated yourself, leaving them on an exchange is not the safest method of storage. The same goes for multi-coin wallets, both these kind of wallets don't give you access to the private keys making you dependent on 3rd parties to store your coins. One of the main advantage of cryptocurrency is that it gives you the opportunity to be your own bank. To live up to this concept users must control their own private keys. Then again, if you are investing small amounts  leaving them on an exchange will only leave you open to a small risk.

There are also other reasons to install the dedicated wallet of each coin. First of all if you are investing in a coin it is wise to see what kind of network they are offering. Installing a wallet of the concerning coin is a great way see how well the network operates and what the team is capable of. When choosing a wallet we always recommend our customers to download the wallet officially recommended by the community. So for greencoin you should just visit the website: http://greencoin.life/ and download the wallet recommended on the website itself.

With kind regards,

The Anycoin Direct team

What type of wallet are you using? mostly and almost all use wallet that is ERC-20 format where as most of the coins produced are in the said format. It is true that keeping your coin in an exchange site risks it and you should transfer it fast. For safe keeping, use wallets which are popular like MyEtherWallet. As of my experience, even the new coins this year is in the same format which MEW can access.

Hey all.  To those of you that own altcoins and store them in wallets, how do you make sure the wallet you google is legit?  Example there are over 1000 coins available on coinmarketcap. 


Let say you buy 10 different coins on bittrex and binance.  Let say they are not compatible with your hardware wallet such as ledger nano s or trezor.  Thus you have to download the actual wallet itself or keep it on an exchange.  There is a thread here where ppl say don't keep your coins in an exchange because its not safe.  First off, if you keep your coins in the most legit exchanges say bittrex or binance... is that generally safe from hacks?  Now what if you have 2FA on it as well.  Is that safe enough or not?  Someone mentioned if you have 2FA on it, then thats good enough.


Now in terms of altcoin wallets, do you people who own say altcoins that you cannot store in a hardware wallet all download the actual wallet for that specific coin?  But how to make sure that wallet is 100 percent legit?  Example say its bluecoin or greencoin to make it simple.  You can't put those coins in nano ledger s or trezor.  Then where do you store these coins?  I think it would be really annoying having to download all these wallets for every coin you own that isn't allowed on a hardware wallet.