Top 5 Best Altcoin Wallets - for Beginners

Today there are many Altcoin wallets available to the ever growing number of Cyptocurrency traders. I will rank the top 5 best Altcoin wallets based on security, ease of use and Cryptocurrencies supported.

1. Exodus. The first thing you notice about Exodus is it's beautiful UI and luxury features such as pie charts, user customization and 24/7 user support. Exodus is among the first multi-asset desktop wallets with a built-in Shapeshift exchange. The only evident concern regarding Exodus is that it's not open source.

2. Jaxx. Jaxx is a cross platform multi-currency wallet that boasts a simple 'pick up and go' interface. In addition to the security that comes with being open source, Jaxx has an array of security features such as password protection and key locks. Jaxx recently announced the "Ice Cube" - a hardware wallet fitted with a cellular chip and camera.

3. Electrum. Electrum was designed to securely give its user the freedom to manage their funds and private keys. Created through the contribution of various developers to its source code, Electrum uses decentralized servers to reduce downtime. The wallet allows the user to store their private key offline and can be integrated with some ledger products and hardware wallets. However, Electrum does not have a friendly user interface and new users may easily get confused.

4. Coinbase. As saying goes, 'numbers don't lie', Coinbase is an established Altcoin wallet with among the highest number of users. They have an easy to use web-based interface. Coinbase has however been criticized for its verification process and privacy issues.

5. Coinomi. Coinomi's standout feature is it's focus on privacy. It has a shapeshift.io exchange and supports a large number of Cryptocurrencies compared to most wallets. Coinomi encrypts and stores private keys locally. The only notable downside is the fact that it is currently only available on android.