100 wallets 100 exchanges. Is this what we want/need?

in steemleo •  6 months ago 

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I am following my favorite coins abd tokens on Twitter, and lately I see lots of tweets like:
“Our wallet is live!”
“Check out our light wallet”.

I’m confused. I am holding approximately 10 different coins/tokens. Do these projects expect me to download and use their wallets? Which means I will have to download 10 wallets and make sure they are all updated etc.

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No, I don’t feel like doing that. Instead I would prefer a multi-wallet to put my coins in, like for example Coinomi.

This also holds for exchanges or swaps each coin is bringing out. I just saw a tweet from Stratis coin mentioning their oh so great Stratis Swap. Why??!!

This is not what we need. Crypto market needs adoption, marketing, use cases etc. Not another wallet, another exchange. Stop wasting your resources!

Does anyone has an idea why all these guys go for their own wallet and their own exchange/swap or whatever fancy name they call it?

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Yeah, maintaining so many different passwords and keys and 2FA logins quickly becomes a nightmare. And that's maybe one of the reasons Bitcoin can't be dethroned as easily as some claim! 🤭

Right. I don’t expect bitcoin will lose its dominating role any time soon either.
Thanks for dropping by!