Magnetic nano-wire systems are, as well as other patterned magnetic structures, of special interest for novel applications, such as magnetic storage media. In these systems, the coupling between neighbouring magnetic units is most important for the magnetization reversal process of the complete system, leading to a variety of magnetization reversal mechanisms. This article examines the influence of the magnetic material on hysteresis loop shape, coercive field, and magnetization reversal modes. While iron nano-wire systems exhibit flat or one-step hysteresis loops, systems consisting of cobalt nano-wires show hysteresis loops with several longitudinal steps and transverse peaks, correlated to a rich spectrum of magnetization reversal mechanisms. We show that changing the material parameters while the system geometry stays identical can lead to completely different hysteresis loops and reversal modes. Thus, especially for finding magnetic nano-systems which can be used as quaternary or even higher-order storage devices, it is rational to test several materials for the planned systems. Apparently, new materials may lead to novel and unexpected behaviour - and can thus result in novel functionalities.