Multi-currency wallets are digital wallets that allow users to store and manage multiple currencies. Multi-currency wallets can be used to store different types of currencies, such as USD, GBP, HKD, and more. 

Multi-currency wallets are often marketed as "all-in-one" wallets because they allow users to store a variety of currencies in a single place. This can be convenient for users who want to consolidate their currencies into a single location for ease of use when travelling or paying for international goods and services.

Multi-currency wallets function by housing multiple subaccounts holding different currencies. This allows you to send and accept currencies internationally without being subject to expensive transfer fees. Multi-currency wallets also offer protection against currency fluctuations and serve as an effective way of diversifying your cash. 

Payset’s multi-currency wallets allow you to send, receive, and manage up to 34 different currencies from a single user dashboard. Currencies can be transferred at high-speed, taking advantage of competitive market rates.

Here are some of the key benefits of using a multi-currency wallet:

• Ease of use: When you are travelling or living in a foreign country, it is important to have access to your money in the form of the local currency. This can be difficult if you are carrying around a lot of cash, or if your bank doesn't have a presence in the country. A multi-currency wallet can help solve this problem by allowing you to store multiple currencies in one place.‍
• Take advantage of foreign exchange rates: When you're travelling or making online purchases in another country, you can take advantage of the foreign exchange rates by using your multi-currency wallet. This will save a lot of money in the long run.‍
• Security: Multi-currency wallets offer security features that help protect your funds against theft or loss. Your money is held in a dedicated fund within a leading European financial institution, ensuring full regulatory compliance and fund protection.

The best multi-currency wallets provide a fast and affordable way to spend multiple currencies. Payset’s services rival those of our competitors, with support for 38 currencies, integration with payment networks like SEPA, SWIFT, CHAPS, Faster Payments, and more, and transfer fees as low as 0.45%.

Some crypto wallets can hold a variety of different cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Other crypto wallets may only hold one asset.

Crypto wallets hold cryptocurrency — sometimes referred to as digital assets, altcoins, or stablecoins — rather than traditional fiat currencies. Some wallets, such as Square’s Cash App and Paypal, offer combined support for traditional currencies and cryptocurrencies.

You might need to use a multi-currency wallet if you are traveling to another country, or if you are doing business with customers and companies outside of your own country. A multi-currency digital wallet will allow you to store and spend multiple currencies as needed.