Topic: Which multi crypto wallet is safe for long term holding? Please read description (Read 198 times)

I quite agree with you on coinoomi.. i have had any issue of security since I started using it and it's really easy to use..

I will certainly reconsider buying a hardware wallet as a lot of forum members have suggested me to go that way.

Yes there isn't a single wallet which supports all the cryptos I hold.

Thanks once again. I really got to learn a lot from you. 

Thanks for commenting Lucius! 

By what is stated at Exodus site it is possible to view private key for any address, so you can just copy/paste your private keys and store them in safe place. In case something happens to your device it is possible to import that keys on other device and restore your coins, read more here.

But much easiest way is to just write down 12 secret words (seed) which you get when create Exodus wallet, and then you have all you need in case you need it, read more here.

I read those guides & it seems to be very easy to access your funds from another device in case something goes wrong with the device you are using.

This should be good way of protecting your coins, but only in case you have clean device/there are many sophisticated attacks these days aimed to hack crypto coins on users PC. So you shoud be very careful when using your device, even if you using desktop wallet.

I am planning to buy a new PC (probably a netbook) or else as mentioned in the guide written by BQ (forum member), I can install linux on my current windows PC to do crypto stuff. If I buy a separate device for this then I will keep it disconnected from internet until I want to sell my holdings.


I know you have no intention to invest in hardware wallet, but for long term holding in my opinion it is best option. Private keys are always safe inside device, even if your device is compromised it will not affect security of your coins.

Yes I know that hardware wallets are the safest option available at present. Many other members as well have suggested me to get one. I will reconsider my decision of not buying a hardware wallet.

Thanks for recommendation Vitalicus! 

To be honest, I am not willing to spend on hardware wallets. Can you suggest me some alternatives?

Thanks for replying 

Visited the official website of imtoken. The website isn't much informative. They haven't even mentioned the list of coins they support. No mention of storage of private keys. On Play store it has mixed reviews. Would prefer to stay away from it.


Monarch definitely seems to be promising. It supports BTC, ETH & all ERC20. Cold wallet is offered in MVP. The website mentions that the users will be able to own their private keys. Haven't mentioned though whether they store it on server, somewhere else or not. It has only 12 ratings on itunes. It still is in early phase.  Might give it a try.

well you should consider a hardware wallet, it's far safer in general. your private key is never exposed. it's a worthy investment.
otherwise, you'll simply have to deal with multiple wallets, afaik there's not really one that supports everything and is completely digital based/free, since it involves a lot of work.

By what is stated at Exodus site it is possible to view private key for any address, so you can just copy/paste your private keys and store them in safe place. In case something happens to your device it is possible to import that keys on other device and restore your coins, read more here.

But much easiest way is to just write down 12 secret words (seed) which you get when create Exodus wallet, and then you have all you need in case you need it, read more here.

This should be good way of protecting your coins, but only in case you have clean device/there are many sophisticated attacks these days aimed to hack crypto coins on users PC. So you shoud be very careful when using your device, even if you using desktop wallet.

I know you have no intention to invest in hardware wallet, but for long term holding in my opinion it is best option. Private keys are always safe inside device, even if your device is compromised it will not affect security of your coins.

There are many options for you but I still recommend using Ledger Nano S which will be more effective as it can be considered as the safest wallet in the world at this moment and no one can penetrate into it. Personally I only give this advice because this is the safest way for you and me and hope you should have a better look at Ledger purses because it is really very safe and you do not need to do too many procedures on the computer

Heyya! Thanks for replying  

Exodus' website states, "Exodus encrypts private keys and transaction data locally for your eyes only. Your data remains private". Also in the demo video, a co-founder mentions that Exodus holds your private keys and there are no hosts & servers thus this approach gives you total control. I guess this means that your private keys are stored locally & nowhere else (Servers & all)

I am not a techie person so just want to ask one question:

If Exodus stores private keys locally & suppose that my device gets lost, stolen or damaged then is it possible to access my account using some other device?

Kindly guide me on this.

You could give imtoken 2.0 a try, the new version, supports all erc 20, EOS and several others and you hold the private keys. You could try Monarch also, still conducting ICO but has an MVP

Hey Noobaru! Thanks for replying 

I am not willing to spend on hardware wallets. Can you please suggest me alternatives?

Hey! Thanks for replying 

Visited official websites of Ethos & Trust. Ethos' website mentions that they never hold assets & users remain in complete control at all times. It also mentions that they provide one of the best mobile-first, hot wallets. On one of the pages it says, "Take back control. The Ethos SmartKey and SmartWallet allow you to maintain complete control of your funds at all times. The days of trusting your funds, private keys and assets with a centralized entity are over". I am confused after reading all these. Can you please answer a few questions like:

1. Is it a hot wallet?

2. Where do they store private keys?

It supports few coins that I hold but I couldn't find the mention of ERC20 tokens in the "supported coins list" section.


           Trust's website mentions that they support all ERC20 & ERC223 tokens & the private key is stored locally. They are also joining Binance soon. Trust certainly seems to be trustworty

Thanks for answering my question  

Just wanted to know that isn't it unsafe to access MEW using the computer which we use daily & is connected to internet round the clock? Kindly guide me.

i use exodus as my main wallet it supports multiple altcoin and i trust the team behind it i never heard a hack that occurs in exodus i think exodus + linux the most powerful combination good luck

Thanks for replying 

Yes some of them are ERC20. BTW I don't want to spend on hardware wallets. Can you suggest me alternative options?

Hey BQ! Thanks for replying  

I read your wallet guide & I must admit that it is one of the best articles I have read till date on crypto wallets. You have explained it so well using simple language without any heavy words. Moreover the tips you have given are truly helpful for a non techie person like me. Thanks a lot for making such a wonderful guide.

I couldn't understand a few things from the guide. I request you to guide me on the following:

1. You have mentioned that MEW doesn't save keys. Does that mean it gives users exclusive access to their funds? & if it doesn't store private keys anywhere then how did people loose their cryptos in the MEW hacks as the hackers also need private keys to steal funds?

2. You have mentioned that the MetaMask stores a file locally encrypted with a password. What does "locally" mean here? is it hard drive of the computer?

3. If the device where I have installed or access MEW & MetaMask from gets lost, stolen or damaged, will I be able to access my account using some other device?

4. In the summary section, you have mentioned that MetaMask protects more & by using MEW, one is exposed to third party hacks. Can you please elaborate this?

5. If I buy a new device (computer or smartphone), keep it disconnected from internet & use it only for the purpose of storing cryptos, is this method safe enough? Is installing a second OS like Linux Mint on the laptop which I use daily safe enough? Is running Linux Mint using USB/CD on the same laptop safe enough?

              I am not willing to spend on hardware wallets & yes I hold 80 cryptos, some of them are ERC20.

Hi Teraboy! Thanks for answering my question 

I visited official websites of Coinomi & Exodus. Coinomi's website states, "Your private keys never leave your device". I guess this means that your private keys are stored locally & nowhere else (Servers & all). Exodus' website states, "Exodus encrypts private keys and transaction data locally for your eyes only. Your data remains private". Also in the demo video, a co-founder mentions that Exodus holds your private keys and there are no hosts & servers thus this approach gives you total control. I think this also means the same.

I didn't have a look at what Trezor is offering as I don't want to spend on hardware wallets.

I am not a techie person so I don't know much about the private key export feature. Is it possible to have a copy of my private key by exporting it? How do I save it (soft copy or hard copy)? If Coinomi & Exodus store private keys locally & suppose that my device gets lost, stolen or damaged then is it possible to access my account using some other device? Kindly guide me on this.

Thanks in advance.

I would recommend like posters before me. Get yourself a hardware wallet like Ledger and Trezor. But keep in mind you will have to transact using MyEtherWallet or similar for sending ERC20 tokens around. There are guides on how to connect your hardware wallet through MEW and open wallet (address). It is pretty simple once you get the hang of it.

Ethos Universal Wallet and Trust are my favourites. Ethos allows you to store many cryptos such as Bitcoins, Waves, Ethereum, etc in addition to ERC20 tokens. Trust only support Ethereum-based tokens.

there is no need to spend money on phone or separate desktop just use myetherwallet for this purpose.. store the keystroke file ans private key in a pen drive plus print out the private key in the hard copy and keep it in your locker