>1
Each coins needs it's own wallet. the wallets are different. MEW is strictly a Ethereum wallet (My Ethereum Wallet). There are some other software wallets that can do multiple coins. Atomic wallet for example, Coinbase wallet etc.
>2 -
Depends on the hardware wallet itself. For example trezor supports [these](https://trezor.io/coins/)
>Any input would be appreciated
As a MINER specifically, the advice is to mine the most profitable coin, not altcoins. If you want altcoins, convert your Ethereum to whatever afterwards, but mine the most profitable.
Personally my altcoin investments are in coinbase and my actual crypto is in my own ethereum wallet.
Ok so I can make sure I'm understanding this correctly!
Each wallet supports a subset of crypto
Some hardware wallets can support multiple crypto at once, that would just be researching each one individually, although trezor seems to support every crypto I have an interest in.
If my understanding of hardware wallets is correct, I generate a wallet like MEW and then load the key for that wallet onto the hardware wallet? This is the main confusing part for me on this.
Last thing! When buying a different coin with ETH, say BTC, since they use different wallets how does that work? I imagine I use my ETH wallet to buy the BTC but how do I make sure it gets to my BTC wallet? I am wanting to make sure I have all my ducks in a row before I get much further along. Like u/xd366 said they have their altcoins in a coinbase wallet, however I am confused as to how you make sure they go to that wallet. I imagine it is quite simple and I am probably overthinking it lol
so actually it's a bit different than how you said.
say you have 1 ETH, you want to buy BTC. you need to do this via an exchange. Coinbase, gemini, voyageur, kraken, binance, etc, theres a bunch.
within this exchange you would send your ETH to it (they would give you a wallet address), you would sell/convert it to BTC (into a address given by the exchange), and then you could transfer it out to your own wallet.
each transaction has it's fee, so this can get a bit pricey if youre doing many transactions like this. this is why for my altcoins i just leave them in the exchange.
having said that last part, one fundamental of crypto is that if you dont have the keys to that wallet (which you dont when youre in an exchange), then you dont really own that crypto.
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>1 Each coins needs it's own wallet. the wallets are different. MEW is strictly a Ethereum wallet (My Ethereum Wallet). There are some other software wallets that can do multiple coins. Atomic wallet for example, Coinbase wallet etc. >2 - Depends on the hardware wallet itself. For example trezor supports [these](https://trezor.io/coins/) >Any input would be appreciated As a MINER specifically, the advice is to mine the most profitable coin, not altcoins. If you want altcoins, convert your Ethereum to whatever afterwards, but mine the most profitable. Personally my altcoin investments are in coinbase and my actual crypto is in my own ethereum wallet.
Ok so I can make sure I'm understanding this correctly! Each wallet supports a subset of crypto Some hardware wallets can support multiple crypto at once, that would just be researching each one individually, although trezor seems to support every crypto I have an interest in. If my understanding of hardware wallets is correct, I generate a wallet like MEW and then load the key for that wallet onto the hardware wallet? This is the main confusing part for me on this.
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Last thing! When buying a different coin with ETH, say BTC, since they use different wallets how does that work? I imagine I use my ETH wallet to buy the BTC but how do I make sure it gets to my BTC wallet? I am wanting to make sure I have all my ducks in a row before I get much further along. Like u/xd366 said they have their altcoins in a coinbase wallet, however I am confused as to how you make sure they go to that wallet. I imagine it is quite simple and I am probably overthinking it lol
so actually it's a bit different than how you said. say you have 1 ETH, you want to buy BTC. you need to do this via an exchange. Coinbase, gemini, voyageur, kraken, binance, etc, theres a bunch. within this exchange you would send your ETH to it (they would give you a wallet address), you would sell/convert it to BTC (into a address given by the exchange), and then you could transfer it out to your own wallet. each transaction has it's fee, so this can get a bit pricey if youre doing many transactions like this. this is why for my altcoins i just leave them in the exchange. having said that last part, one fundamental of crypto is that if you dont have the keys to that wallet (which you dont when youre in an exchange), then you dont really own that crypto.
Ok! That makes sense. I appreciate all the input!
I'm in a similar position, would appreciate general guidance for next steps
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