Neptune Wallet enables multi-currency management

Cryptocurrency wallet provider Neptune is launching a new service that will allow investors to manage multiple currencies for various uses through a single channel.

The Neptune Wallet will store cryptocurrency in different sets with different access keys, while allowing users to engage with various blockchain features such as non-fungible tokens and decentralized peer-to-peer applications.

The wallet, available for macOS, Windows and Linux, is non-custodial to allow users to have full control over funds, with encrypted keys stored on the user’s device.

“With Neptune Wallet, we wanted to modernize what we could do with a non-custodial wallet,” Connor Janson, Neptune’s chief product officer, said in a Thursday press release. “Slack did the same for business collaboration, Netscape for browsers, and Robinhood for traditional investing. We want to bring the same powerful, yet easy-to-use, experience to non-custodial wallets.”

Neptune Wallet will initially support 11 currencies — bitcoin, Bitcoin Cash, ChainLink, XRP, Tether, USDC, WBTC, Binance’s BNB, Compound Dai, Litecoin and Ethereum — with plans for future expansion. New currencies will be added on a bi-weekly basis, the company said.

Neptune, based in New York, is partnering with Blockmodo to deliver real-time news through the Neptune Wallet regarding crypto assets from more than 3,000 sources.

Beyond news and community posts, the wallet also streams code check-ins for more than 1,800 repositories, giving users access to the activity of blockchain developers.

Crypto wallets typically generate one private key or mnemonic phrase for users to manage one set of currencies.

Neptune Wallet users can manage different currency sets with different mnemonic phrases to gain access. This allows users to manage currency sets for different purposes and is especially useful for having multiple receiving addresses for account-based blockchains, the company stated.

Neptune Wallet encrypts each workspace’s seed phrase with advanced encryption standard security by default, and also requires users to enter a decryption password for every action, such as sending or swapping of tokens.

As a standalone application, Neptune says the wallet reduces potential hacks by decreasing dependence on third-party applications such as web browsers.